Yen and Swiss Franc Rally in Subdued Markets; Downside Acceleration in GBP/CHF
| Action Insight Mid-Day Report 12-28-23 |
Yen and Swiss Franc Rally in Subdued Markets; Downside Acceleration in GBP/CHF |
Japanese Yen and the Swiss Franc are standing out with significant rallies in otherwise relatively subdued markets today. Yen resumed its near-term rise against the Dollar, reaching its highest level in five months. Simultaneously, Swiss Franc has achieved its highest level in over a decade, excluding the spike seen in 2015. While Dollar remains the weakest performer for the week, its selloff against currencies like the Sterling, Canadian Dollar, and Australian Dollar appears to be decelerating slightly. Euro remains firm, although it's underperforming against Yen and Franc. But the Sterling is noticeably underperforming compared to its European peers... |
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 141.31; (P) 142.08; (R1) 142.61; More... USD/JPY's break of 140.94 indicates resumption of fall from 151.89. Intraday bias is now on the downside. Next target is 136.63. fibonacci level. On the upside, above 142.84 minor resistance will turn intraday bias neutral gain. But recovery should be limited below 144.94 resistance to bring another decline. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 23:50 | JPY | Industrial Production M/M Nov P | -0.90% | -1.60% | 1.30% | | 23:50 | JPY | Retail Trade Y/Y Nov | 5.30% | 5.00% | 4.20% | 4.10% | | 13:30 | USD | Initial Jobless Claims (Dec 22) | 218K | 204K | 205K | 206K | | 13:30 | USD | Goods Trade Balance (USD) Nov P | -90.3B | -89.5B | -89.6B | | 13:30 | USD | Wholesale Inventories Nov P | -0.20% | -0.20% | -0.40% | | 15:00 | USD | Pending Home Sales M/M Nov | 1.10% | -1.50% | | 15:30 | USD | Natural Gas Storage | -80B | -87B | | 15:30 | USD | Crude Oil Inventories | -2.7M | 2.9M |
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