Dollar Maintains Dominance as Global Markets Wrestle with Risk Aversion
| Action Insight Daily Report 4-16-24 |
Dollar Maintains Dominance as Global Markets Wrestle with Risk Aversion |
Dollar is capitalizing on its strong position and extends its rally om Asian session today, as risk aversion grips global markets. US stocks, which initially showed gains overnight, ultimately closed significantly lower as Treasury yields climbed in response to robust economic data. The sentiment continued in Asia, with major markets opening lower, and followed by extended decline. lower open. Amid these developments, China's economic data presented a mixed picture, providing little to uplift overall market sentiment. Strong Q1 GDP from China was overshadowed by a batch of weak March data. Further dampening sentiment, S&P Global downgraded the credit rating of Chinese developer Longfor from BBB- to BBB+ yesterday, assigning a negative outlook. These developments in China have cast a shadow over global market sentiment. |
AUD/USD Daily Report Daily Pivots: (S1) 0.6422; (P) 0.6458; (R1) 0.6477; More... AUD/USD's break of 0.6442 support confirms resumption of whole fall from 0.6870. Intraday bias remains on the downside for 61.8% projection of 0.6870 to 0.6442 from 0.6643 at 0.6378. Decisive break there will pave the way to 0.6269 low, and possibly further to 100% projection at 0.6215. On the upside, above 0.6429 minor resistance will turn intraday bias and bring consolidations, before staging another fall. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
|---|
| 02:00 | CNY | GDP Y/Y Q1 | 5.30% | 5.00% | 5.20% | | 02:00 | CNY | Retail Sales Y/Y Mar | 3.10% | 5.10% | 5.50% | | 02:00 | CNY | Industrial Production Y/Y Mar | 4.50% | 6.00% | 7.00% | | 02:00 | CNY | Fixed Asset Investment YTD Y/Y Mar | 4.50% | 4.30% | 4.20% | | 06:00 | GBP | Claimant Count Change Mar | 17.2K | 16.8K | | 06:00 | GBP | ILO Unemployment Rate (3M) Feb | 4.00% | 3.90% | | 06:00 | GBP | Average Earnings Including Bonus 3M/Y Feb | 5.50% | 5.60% | | 06:00 | GBP | Average Earnings Excluding Bonus 3M/Y Feb | 6.10% | | 09:00 | EUR | Eurozone Trade Balance (EUR) Feb | 27.3B | 28.1B | | 09:00 | EUR | Germany ZEW Economic Sentiment Apr | 35.1 | 31.7 | | 09:00 | EUR | Germany ZEW Current Situation Apr | -80.5 | | 09:00 | EUR | Eurozone ZEW Economic Sentiment Apr | 37.2 | 33.5 | | 12:30 | CAD | CPI M/M Mar | 0.70% | 0.30% | | 12:30 | CAD | CPI Y/Y Mar | 2.80% | | 12:30 | CAD | CPI Median Y/Y Mar | 3.00% | 3.10% | | 12:30 | CAD | CPI Trimmed Y/Y Mar | 3.20% | 3.20% | | 12:30 | CAD | CPI Common Y/Y Mar | 3.10% | 3.10% | | 12:30 | USD | Building Permits Mar | 1.51M | 1.52M | | 12:30 | USD | Housing Starts Mar | 1.48M | 1.52M | | 13:15 | USD | Industrial Production M/M Mar | 0.40% | 0.10% | | 13:15 | USD | Capacity Utilization Mar | 78.50% | 78.30% |
|
|
|
