Markets Unmoved by Japan and Australia Data, Bitcoin Surges
Action Insight Daily Report 1-8-24 |
Markets Unmoved by Japan and Australia Data, Bitcoin Surges |
Today's Asian trading session has been relatively subdued. Japan reported deeper-than-expected contraction in household spending, while Tokyo CPI core showed slowdown in line with market expectations. However, Yen's near-term rebound seems to be losing steam as these data releases have not provided significant market impetus. Meanwhile, Nikkei index returned from holiday with a bounce, though other Asian stock markets exhibited mixed performance. In contrast, Australian Dollar appeared unaffected by the much stronger-than-expected retail sales data. Commodity currencies are generally weak, but the extent of the selloff has been limited. In other currency markets, Euro and Swiss Franc are showing mild strength after Yen, while Dollar and the British Pound are mixed... |
AUD/USD Daily Report Daily Pivots: (S1) 0.6687; (P) 0.6711; (R1) 0.6744; More... No change in AUD/USD's outlook as further decline is in favor with 0.6759 minor resistance intact. Fall from 0.6870 short term top would target 55 D EMA (now at 0.6619). Some support could be seen there to bring rebound on first attempt. On the upside, however, break of 0.6759 minor resistance will suggest that the pull back is over, and bring retest of 0.6870 instead. | |
GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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23:30 | JPY | Tokyo CPI Y/Y Dec | 2.40% | 2.60% | 23:30 | JPY | Tokyo CPI ex Fresh Food Y/Y Dec | 2.10% | 2.10% | 2.30% | 23:30 | JPY | Tokyo CPI Core Y/Y Dec | 3.50% | 3.60% | 00:30 | AUD | Retail Sales M/M Nov | 2.00% | 1.20% | -0.20% | -0.40% | 00:30 | AUD | Building Permits M/M Nov | 1.60% | -2.00% | 7.50% | 7.20% | 06:45 | CHF | Unemployment Rate M/M Dec | 2.20% | 2.10% | 07:00 | EUR | Germany Industrial Production M/M Nov | 0.40% | -0.40% | 07:45 | EUR | France Trade Balance (EUR) Nov | -7.9B | -8.6B | 10:00 | EUR | Eurozone Unemployment Rate Nov | 6.50% | 6.50% | 11:00 | USD | NFIB Business Optimism Index Dec | 90.9 | 90.6 | 13:30 | USD | Trade Balance (USD) Nov | -64.8B | -64.3B | 13:30 | CAD | Trade Balance (CAD) Nov | 2.5B | 3.0B | 13:30 | CAD | Building Permits M/M Nov | 2.00% | 2.30% |
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