Global Markets Rebound in Quiet Trade, Aussie Awaits RBA Insight
| Action Insight Mid-Day Report 4-14-25 |
Global Markets Rebound in Quiet Trade, Aussie Awaits RBA Insight |
The global financial markets are enjoying a modest recovery today, with gains seen across Asia and Europe. US futures also point to a higher open, suggesting the bounce from last week’s dramatic selloff are having further legs. News flow is relatively light, with no major economic data releases, and tariff headlines have also slowed. The next big development on that front is expected to involve semiconductors, but traders will have to wait for details. In the meantime, markets appear to be taking a breather from the chaos. Several Fed officials are due to speak today, though they are unlikely to provide fresh forward guidance given the highly fluid environment. Fed has so far emphasized the need for patience and data dependence, and that message is likely to be reinforced. In the currency markets, Swiss Franc is underperforming as risk sentiment stabilizes, followed by Loonie and then Dollar. Sterling leads the day, buoyed by its risk-sensitive nature, while Kiwi and Aussie are also firm. Euro and Yen are relatively steady in the middle of the pack. Looking ahead, RBA meeting minutes in the upcoming Asian session will be closely watched. The minutes may reiterate that the previous rate cut doesn’t necessarily start a new easing cycle. But the views may already be somewhat outdated, as the meeting occurred just before the US reciprocal tariff announcement and the subsequent market chaos. Still, they could offer insights into whether RBA board is leaning more toward inflation control or concerned about downside growth risks.... |
USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.8079; (P) 0.8173; (R1) 0.8246; More… A temporary low is formed at 0.8098 in USD/CHF with current recovery. Intraday bias is turned neutral first for consolidations. While stronger rise might be seen, upside should be limited by 55 4H EMA (now at 0.8449) to bring another fall. On the downside, break of 0.8098 will resume recent down trend to 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 22:30 | NZD | Business NZ PSI Mar | 49.1 | 49.1 | 49 | | 03:00 | CNY | Trade Balance (USD) Mar | 102.6B | 74.3B | 170.5B | | 04:30 | JPY | Industrial Production M/M Feb F | 2.30% | 2.50% | 2.50% | | 06:30 | CHF | Producer and Import Prices M/M Mar | 0.10% | 0.20% | 0.30% | | 06:30 | CHF | Producer and Import Prices Y/Y Mar | -0.10% | -0.10% | | 12:30 | CAD | Wholesale Sales M/M Feb | 0.3% | 0.40% | 1.20% | 1.4% |
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