Hesitant Dollar Sellers In Search of Clear Signals for Further Action
| Action Insight Mid-Day Report 11-28-23 |
Hesitant Dollar Sellers In Search of Clear Signals for Further Action |
The forex markets today are characterized by a lack of decisive direction. Dollar remains generally weak, yet there seems to be a reluctance among sellers to push it further down. Market focus is now shifting to comments from several Fed officials scheduled for today and the rest of the week, as Fed's blackout period approaches this weekend. However, these comments might not provide significant guidance as officials are likely waiting for more economic data, such as PCE inflation, ISM figures, and next week's non-farm payrolls, before forming a more defined view on the interest rate path.... |
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.0933; (P) 1.0946; (R1) 1.0967; More... Intraday bias in EUR/USD remains neutral at this point. Consolidation pattern from 1.0964 could still extend further. But after all. further rally is in favor as long as 1.0823 support holds. Sustained break of 61.8% retracement of 1.1274 to 1.0447 at 1.0958 will resume the rise from 1.0447 to retest 1.1274 high. However, firm break of 1.0823 will indicate short term topping, and turn bias back to the downside for deeper decline. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 00:01 | GBP | BRC Shop Price Index Y/Y Oct | 4.30% | 5.20% | | 00:30 | AUD | Retail Sales M/M Oct | -0.20% | 0.10% | 0.90% | | 07:00 | EUR | Germany Gfk Consumer Confidence Dec | -27.8 | -28.5 | -28.1 | -28.3 | | 09:00 | EUR | Eurozone M3 Money Supply Y/Y Oct | -1.00% | -0.90% | -1.20% | | 14:00 | USD | S&P/Case-Shiller Home Price Indices Y/Y Sep | 4.20% | 2.20% | | 14:00 | USD | Housing Price Index M/M Sep | 0.40% | 0.60% | | 15:00 | USD | Consumer Confidence Nov | 101 | 102.6 |
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