Yen and Aussie Soften in the Wake of Yuan's Decline
| Action Insight Daily Report 12-11-23 |
Yen and Aussie Soften in the Wake of Yuan's Decline |
Chinese Yuan's significant selloff in Asian session today had a ripple effect across several major currencies, dragging down Japanese Yen, Australian Dollar, and New Zealand Dollar. This movement was largely spurred by concerning data from China indicating deepening deflation, which also negatively impacted Hong Kong's stock market. Yuan's future trajectory now hinges critically on a series of Chinese economic data scheduled for release later this week, making it a focal point for market analysts and investors in the region... |
USD/JPY Daily Outlook Daily Pivots: (S1) 143.18; (P) 144.20; (R1) 145.89; More... USD/JPY's recovery from 141.59 continues today, and further rally could be seen. But upside should be limited below 147.14 support turned resistance. On the downside, below 143.75 minor support will turn bias to the downside for retesting 141.59. Break of 141.59 and sustained trading below 142.45 fibonacci level will pave the way to next fibonacci level at 136.63. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 23:50 | JPY | BSI Large Manufacturing Index Q4 | 5.7 | 5.6 | 5.4 | | 23:50 | JPY | Money Supply M2+CD Y/Y Nov | 2.30% | 2.50% | 2.40% | | 06:00 | JPY | Machine Tool Orders Y/Y Nov P | -13.60% | -20.60% |
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