Dollar Gathers Momentum, Gold Cools Off, Market Jitters Ahead?
| Action Insight Mid-Day Report 2-26-25 |
Dollar Gathers Momentum, Gold Cools Off, Market Jitters Ahead? |
Dollar appears to be gathering steam for a stronger, sustainable near-term rebound, although the precise catalyst remains unclear. One contributing factor an undercurrent of risk aversion, which is reflected in the broad selloff in the Australian and New Zealand Dollars. Yet, the overall market picture is mixed, as US stock futures inch higher and Treasury yields hold steady, hardly signaling a deep risk-off move or robust safe-haven flows. Another explanation points to traders positioning ahead of Nvidia’s earnings release, due after the bell. With the AI-driven rally serving as a key theme for tech stocks, any surprise in the results could influence wider market sentiment, thereby affecting the currency markets. Additionally, speculation is building around the upcoming March 4 tariff deadline, when US levies on Canada and Mexico—postponed for a month to address border and fentanyl issues—are set to take effect. At present, the greenback tops the leaderboard for the day, followed by Sterling and Loonie. Aussie and Kiwi lag, with Swiss Franc also underperforming. Euro and Yen are holding middle ground.... |
AUD/USD Mid-Day Report Daily Pivots: (S1) 0.6325; (P) 0.6341; (R1) 0.6360; More... AUD/USD's break of 0.6327 support should confirm short term topping at 0.6407, on bearish divergence condition in 4H MACD. Corrective rebound should have completed just ahead of 38.2% retracement of 0.6941 to 0.6087 at 0.6413. Intraday bias is back on the downside for retesting 0.6087 low. For now, risk will stay on the downside as long as 0.6407 holds, in case of recovery. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 00:30 | AUD | Monthly CPI Y/Y Jan | 2.50% | 2.60% | 2.50% | | 00:30 | AUD | Construction Work Done Q4 | 0.50% | 0.80% | 1.60% | 2.00% | | 07:00 | EUR | Germany GfK Consumer Sentiment Mar | -24.7 | -21.1 | -22.4 | -22.6 | | 09:00 | CHF | UBS Economic Expectations Feb | 3.4 | 17.7 | | 15:00 | USD | New Home Sales Jan | 677K | 698K | | 15:30 | USD | Crude Oil Inventories | 2.5M | 4.6M |
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