Dollar Falls after Fed, Yen Leads Gains, Europe Awaits Central Banks Decisions
| Action Insight Mid-Day Report 12-13-23 |
Dollar Falls after Fed, Yen Leads Gains, Europe Awaits Central Banks Decisions |
Investor sentiment was buoyed strongly by Fed's projection of three rate cuts in the upcoming year. This significant dovish turn by the Fed has sparked a wave of investor optimism, propelling the DOW to record-breaking high. This buoyant mood has largely permeated the Asian markets, although Japan has remained an outlier in this trend. Dollar declined broadly after FOMC announcement, and stays as the worst performer in the week. On the other hand, Yen has capitalized further on the falling treasury yields in the US and Europe, emerging as the strongest performer for the week so far. Australian Dollar also found support in the wake of strong Australian employment data, ranking as the second strongest currency following the Yen... |
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 144.74; (P) 145.47; (R1) 146.19; More... USD/JPY's decline from 151.89 resumed by breaking through 141.59 support. Intraday bias is back on the downside. Further fall should be seen to next fibonacci level at 136.63. On the upside, above 142.91 minor resistance will turn intraday bias neutral first. But recovery should be limited well below 146.58 resistance to bring another decline. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 21:45 | NZD | GDP Q/Q Q3 | -0.30% | 0.20% | 0.90% | 0.50% | | 23:50 | JPY | Machinery Orders M/M Oct | 0.70% | -0.50% | 1.40% | | 00:00 | AUD | Consumer Inflation Expectations Dec | 4.50% | 4.90% | | 00:01 | GBP | RICS Housing Price Balance Nov | -43% | -58% | -63% | | 00:30 | AUD | Employment Change Nov | 61.5K | 10.0K | 55.0K | 42.7K | | 00:30 | AUD | Unemployment Rate Nov | 3.90% | 3.80% | 3.70% | 3.80% | | 04:30 | JPY | Industrial Production M/M Oct F | 1.30% | 1.00% | 1.00% | | 07:30 | CHF | Producer and Import Prices M/M Nov | 0.10% | 0.20% | | 07:30 | CHF | Producer and Import Prices Y/Y Nov | -0.90% | | 08:30 | CHF | SNB Interest Rate Decision | 1.75% | 1.75% | | 09:00 | CHF | SNB Press Conference | | 12:00 | GBP | BoE Interest Rate Decision | 5.25% | 5.25% | | 12:00 | GBP | MPC Official Bank Rate Votes | 2--0--7 | 3--0--6 | | 13:15 | EUR | ECB Interest Rate Decision | 4.50% | 4.50% | | 13:30 | CAD | Manufacturing Sales M/M Oct | 0.30% | 0.40% | | 13:30 | USD | Initial Jobless Claims (Dec 8) | 221K | 220K | | 13:30 | USD | Retail Sales M/M Nov | -0.10% | -0.10% | | 13:30 | USD | Retail Sales ex Autos M/M Nov | -0.10% | 0.10% | | 13:30 | USD | Import Price Index M/M Nov | -0.80% | -0.80% | | 13:45 | EUR | ECB Press Conference | | 15:00 | USD | Business Inventories Oct | 0.00% | 0.40% | | 15:30 | USD | Natural Gas Storage | -60B | -117B |
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