Tariff Impact Diminishes, Aussie Confidence Data in Focus
| Action Insight Mid-Day Report 2-10-25 |
Tariff Impact Diminishes, Aussie Confidence Data in Focus |
Trading in the forex markets has been relatively subdued today, with major currency pairs and crosses remaining within Friday’s range. There was some initial reactions to the latest news of US tariffs on metals, but the impact has faded quickly. Dollar is currently mildly stronger in tight range and Yen is on the softer side. Broader market sentiment also appears stable, as European equities trade in positive territory and US futures indicate a slightly higher open. Meanwhile, Gold is the standout asset, continuing its record-breaking rally with steady momentum. Looking ahead, Australian consumer and business confidence data will be a key focus in the upcoming Asian session. Market expectations for RBA to begin rate cuts at its February 17-18 meeting have surged, with a 93% probability priced into money markets. The country’s major banks are also aligning with this view, citing the softer-than-expected Q4 trimmed mean CPI as a signal that inflation is sustainably cooling. The upcoming sentiment indicators will provide further clues on whether consumers and businesses are adjusting expectations for looser monetary policy.... |
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.0289; (P) 1.0345; (R1) 1.0383; More... EUR/USD is still bounded in consolidation from 1.0176 and intraday bias remains neutral. Outlook will remain bearish as long as 38.2% retracement of 1.1213 to 1.0176 at 1.0572 holds. On the downside, break of 1.0176 will resume whole fall from 1.1213. However, decisive break of 1.0572 will raise the chance of reversal, and target 61.8% retracement at 1.0817. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 23:50 | JPY | Bank Lending Y/Y Jan | 3.00% | 3.10% | 3.10% | 3.00% | | 23:50 | JPY | Current Account (JPY) Dec | 2.73T | 2.73T | 3.03T | | 05:00 | JPY | Eco Watchers Survey: Current Jan | 48.6 | 49.7 | 49.9 | | 09:30 | EUR | Eurozone Sentix Investor Confidence Feb | -12.7 | -16.4 | -17.7 |
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