Subdued Holiday Trading Precedes Key Inflation Data Releases
| Action Insight Daily Report 5-27-24 |
Subdued Holiday Trading Precedes Key Inflation Data Releases |
Trading has been characteristically subdued in the Monday's Asian session. Japanese Yen is have a broad but weak recovery, with no clear indication of a reversal from its recent selloff. Australian and New Zealand Dollars are also mildly firmer, following rebound in Asian stocks. Meanwhile, Swiss Franc and Euro are among the softer currencies, while British Pound and Dollar are mixed. Activity in the markets is likely to remain low, compounded by the holidays in both the UK and the US. However, traders are expected to return with heightened focus as significant inflation data from the US, Eurozone, Australia, and Japan are scheduled for release, alongside other important economic indicators from Canada, Swiss and China... |
EUR/CHF Daily Outlook Daily Pivots: (S1) 0.9894; (P) 0.9911; (R1) 0.9939; More.... Intraday bias in EUR/CHF is now on the upside this week as recent rally continues. Current rise from 0.9252 should target 100% projection of 0.9304 to 0.9847 from 0.9563 at 1.0106, which is slightly above 1.0095 key structural resistance. On the downside, below 0.9880 minor support will turn intraday bias neutral and bring consolidations first. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 08:00 | EUR | Germany IFO Business Climate May | 90.3 | 89.4 | | 08:00 | EUR | Germany IFO Current Assessment May | 89.9 | 88.9 | | 08:00 | EUR | Germany IFO Expectations May | 90.5 | 89.9 |
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