Swiss Franc Declines Persist as DAX Hits New Heights, Aussie Awaits CPI
| Action Insight Mid-Day Report 3-26-24 |
Swiss Franc Declines Persist as DAX Hits New Heights, Aussie Awaits CPI |
Risk-on sentiment is pressuring e Swiss Franc and, to a lesser extent, Yen and Dollar today. DAX soared to new record highs, undeterred by the latest weak German consumer sentiment data, while CAC and FTSE are also marking gains. Similarly, the CAC and FTSE indices are registering gains, with U.S. futures indicating a positive start to trading. Commodity currencies are seeing a broad upticks, led by New Zealand Dollar as it begins to recover from its recent setbacks. Euro also shows strength, while Sterling's progress appears slightly more tempered. Despite these movements, most currencies remain within the trading ranges established last week, with Swiss Franc being the only exception... |
USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.8977; (P) 0.8986; (R1) 0.9004; More.... USD/CHF's rally resumed after brief consolidations and intraday bias is back on the upside. Current rise from 0.8332 should target 100% projection projection of 0.8550 to 0.8884 from 0.8728 at 0.9062. Firm break there will target 0.9243 key medium term resistance next. On the downside, below 0.8964 minor support will turn intraday bias neutral and bring consolidations first. But outlook will stay bullish as long as 0.8884 resistance turned support holds. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 23:30 | AUD | Westpac Consumer Confidence Mar | -1.80% | 6.20% | | 23:50 | JPY | Corporate Service Price Index Y/Y Feb | 2.10% | 2.00% | 2.10% | | 07:00 | EUR | Germany Gfk Consumer Confidence Apr | -27.4 | -27.8 | -29 | -28.8 | | 12:30 | USD | Durable Goods Orders Feb | 1.40% | 1.30% | -6.20% | | 12:30 | USD | Durable Goods Orders ex-Trans Feb | 0.50% | 0.40% | -0.40% | | 12:30 | USD | Durable Goods Orders ex Defense Feb | 2.20% | 1.30% | -7.90% | | 13:00 | USD | S&P/CS Composite-20 HPI Y/Y Jan | 6.60% | 6.20% | 6.10% | 6.20% | | 13:00 | USD | Housing Price Index M/M Jan | -0.10% | 0.20% | 0.10% | | 14:00 | USD | Consumer Confidence Mar | 107.2 | 106.7 |
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