Lackluster Trading in Forex as Economic Data Fails to Stir Major Movements
Action Insight Mid-Day Report 1-9-24 |
Lackluster Trading in Forex as Economic Data Fails to Stir Major Movements |
Currency trading today remained lackluster, characterized by limited movements across major pairs and crosses. Key economic data releases, ranging from Japan's Tokyo CPI, and retail sales figures from Australia and the Eurozone, to trade balance data from Canada and US, failed to significantly influence the markets. Japanese Yen is currently a marginally stronger currency, continuing its near-term recovery. Dollar follows closely, ranking as the second strongest . Conversely, Australian Dollar remains at the lower end of the performance chart, facing additional downward pressure due to selling against Canadian Dollar and New Zealand Dollar. Meanwhile, Euro experienced a mild uplift, primarily driven by its recovery against British Pound and Swiss Franc... |
GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.2692; (P) 1.2729; (R1) 1.2786; More... GBP/USD is extending sideway trading below 1.2826 and intraday bias remains neutral. On the upside, decisive break of 1.2826 high will resume whole rally from 1.2036. Nevertheless, another fall and break of 1.2611 will bring deeper correction to 1.2499 support instead. | |
GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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23:30 | JPY | Tokyo CPI Y/Y Dec | 2.40% | 2.60% | 23:30 | JPY | Tokyo CPI ex Fresh Food Y/Y Dec | 2.10% | 2.10% | 2.30% | 23:30 | JPY | Tokyo CPI Core Y/Y Dec | 3.50% | 3.60% | 00:30 | AUD | Retail Sales M/M Nov | 2.00% | 1.20% | -0.20% | -0.40% | 00:30 | AUD | Building Permits M/M Nov | 1.60% | -2.00% | 7.50% | 7.20% | 06:45 | CHF | Unemployment Rate M/M Dec | 2.20% | 2.20% | 2.10% | 07:00 | EUR | Germany Industrial Production M/M Nov | -0.70% | 0.40% | -0.40% | -0.30% | 07:45 | EUR | France Trade Balance (EUR) Nov | -5.9B | -7.9B | -8.6B | 10:00 | EUR | Eurozone Unemployment Rate Nov | 6.40% | 6.50% | 6.50% | 11:00 | USD | NFIB Business Optimism Index Dec | 91.9 | 90.9 | 90.6 | 13:30 | USD | Trade Balance (USD) Nov | -63.2B | -64.8B | -64.3B | -64.5B | 13:30 | CAD | Trade Balance (CAD) Nov | 1.6B | 2.5B | 3.0B | 3.2B | 13:30 | CAD | Building Permits M/M Nov | -3.90% | 2.00% | 2.30% |
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