Aussie Stays Firm With Copper's Rally Giving Extra Support
| Action Insight Mid-Day Report 9-24-24 |
Aussie Stays Firm With Copper's Rally Giving Extra Support |
The forex market continues to display a mild risk-on mood, with commodity-linked currencies Australian, New Zealand, and Canadian Dollars gaining ground. In contrast, safe-haven currencies Japanese Yen, Swiss Franc, and Dollar are under pressure. Australian Dollar jumps earlier today following RBA's decision to hold rates steady, combined with China's broad stimulus package aimed at boosting its sluggish economy. Despite this, New Zealand Dollar has taken the lead as the strongest currency of the day, with Canadian Dollar following closely behind in third place.... |
AUD/USD Mid-Day Report Daily Pivots: (S1) 0.6806; (P) 0.6830; (R1) 0.6862; More... AUD/USD's rally is still in progress and intraday bias remains on the upside for 61.8% projection of 0.6348 to 0.6823 from 0.6621 at 0.6915. On the downside, below 0.6736 minor support will turn intraday bias neutral first. But outlook will remain cautiously bullish as long as 0.6621 support holds, in case of retreat. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 00:30 | JPY | Manufacturing PMI Sep P | 49.6 | 49.9 | 49.8 | | 00:30 | JPY | Services PMI Sep P | 53.9 | 53.7 | | 04:30 | AUD | RBA Interest Rate Decision | 4.35% | 4.35% | 4.35% | | 05:30 | AUD | RBA Press Conference | | 08:00 | EUR | Germany IFO Business Climate Sep | 85.4 | 86.1 | 86.6 | | 08:00 | EUR | Germany IFO Current Assessment Sep | 84.4 | 86 | 86.5 | | 08:00 | EUR | Germany IFO Expectations Sep | 86.3 | 86.3 | 86.8 | | 13:00 | USD | S&P/CS Composite-20 HPI Y/Y Jul | 5.90% | 5.90% | 6.50% | | 13:00 | USD | Housing Price Index M/M Jul | 0.10% | 0.20% | -0.10% | 0.00% | | 14:00 | USD | Consumer Confidence Sep | 103.5 | 103.3 |
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