Dollar Pares Gain ahead of NFP, Canadian Employment also Featured
| Action Insight Mid-Day Report 11-3-22 |
Dollar Pares Gain ahead of NFP, Canadian Employment also Featured |
Asian markets are very mixed today, with Nikkei trading lower, following US stocks overnight. But strong rebound is seen in Hong Kong and China. As a result, Dollar is paring some of the post-FOMC gains while commodity currencies recover. It's also possible that traders are lighting up their positions ahead of non-farm payroll data form the US. In any case, much volatility is anticipated before the week comes to a close. Technically, Gold recovered notably after dipping to 1616.51, ahead of 1614.60 low. On the downside, firm break of 1614.60 will confirm larger down trend resumption. On the upside, break of 1674.72 resistance will delay the bearish case, and extend the consolidation pattern from 1614.60 with another rising leg. Upside should be capped below 1729.28 resistance. Today's move could be used to confirm the near term direction in Dollar. In Asia, at the time of writing, Nikkei is down -1.78%. Hong Kong HSI is up 6.78%. China Shanghai SSE is up 2.47%. Singapore Strait Times is up 0.83%. Japan 10-year JGB yield is up 0.0070 at 0.254. Overnight, DOW dropped -0.46%. S&P 500 dropped -1.06%. NASDAQ dropped -1.73%. 10-year yield rose 0.065 to 4.124. |
USD/CHF Daily Outlook Daily Pivots: (S1) 1.0044; (P) 1.0095; (R1) 1.0187; More... USD/CHF retreats mildly ahead of 1.0146 resistance, but intraday bias stays neutral first. On the upside, firm break of 1.0146 will resume larger up trend. Next target is 1.0283 projection level. On the downside, below 1.0031 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 0.9840 support holds, in case of retreat. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
|---|
| 21:30 | AUD | AiG Performance of Construction Index Oct | 43.3 | 46.5 | | 07:00 | EUR | Germany Factory Orders M/M Sep | -0.60% | -2.40% | | 07:45 | EUR | France Industrial Output M/M Sep | -1.00% | 2.40% | | 08:45 | EUR | Italy Services PMI Oct | 48.5 | 48.8 | | 08:50 | EUR | France Services PMI Oct F | 51.3 | 51.3 | | 08:55 | EUR | Germany Services PMI Oct F | 44.9 | 44.9 | | 09:00 | EUR | Eurozone Services PMI Oct F | 48.2 | 48.2 | | 09:30 | GBP | Construction PMI Oct | 52.1 | 52.3 | | 10:00 | EUR | Eurozone PPI M/M Sep | 1.70% | 5.00% | | 10:00 | EUR | Eurozone PPI Y/Y Sep | 42.00% | 43.30% | | 12:30 | USD | Nonfarm Payrolls Oct | 200K | 263K | | 12:30 | USD | Unemployment Rate Oct | 3.60% | 3.50% | | 12:30 | USD | Average Hourly Earnings M/M Oct | 0.30% | 0.30% | | 12:30 | CAD | Net Change in Employment Oct | 11.0K | 21.1K | | 12:30 | CAD | Unemployment Rate Oct | 5.30% | 5.20% | | 14:00 | CAD | Ivey PMI Oct | 60.2 | 59.5 |
|
|
|
