Risk-On Sentiment Prevails in US, Mixed Trends in Asia, Sterling Eyes UK CPI
| Action Insight Mid-Day Report 12-20-23 |
Risk-On Sentiment Prevails in US, Mixed Trends in Asia, Sterling Eyes UK CPI |
Robust risk-on sentiment was seen in the US markets overnight, with DOW extending its record-breaking run. S&P 500 is also approaching its historical peak, now just 50 points shy, and appears poised to challenge this high. The bullish momentum is underpinned by messages from Fed officials, suggesting that while an immediate rate cut is not anticipated, policy easing should be on the horizon for the second half of next year. This scenario hinges on the continued cooling of inflation as a trend as per current expectations. In Asia, market responses are more varied. Nikkei in Japan is having over 1.5% rise, largely benefiting from BoJ's continued dovish stance, which also drags down 10-year JGB yield notably. However, this positive sentiment is not uniformly reflected across all Asian markets. Hong Kong stocks are seeing a rebound, while markets in China and Singapore are showing signs of weakness.... |
AUD/USD Daily Report Daily Pivots: (S1) 0.6718; (P) 0.6746; (R1) 0.6792; More... AUD/USD's rally resumed after brief retreat and intraday bias is back on the upside. As noted before, fall from 0.7156 could have completed with three waves down to 0.6269. Further rise should be seen to 0.6894 resistance first. Sustained break there will target 0.7156 next. On the downside, below 0.6689 minor support will turn intraday bias neutral for consolidations again. But outlook will remain mildly bullish as long as 0.6541 support holds, in case of retreat. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 23:50 | JPY | Trade Balance (JPY) Nov | -0.41T | -0.75T | -0.46T | -0.50T | | 00:00 | AUD | Westpac Leading Index M/M Nov | 0.10% | 0.00% | | 07:00 | EUR | Germany Gfk Consumer Climate Jan | -27 | -27.8 | | 07:00 | EUR | Germany PPI M/M Nov | -0.40% | -0.10% | | 07:00 | EUR | Germany PPI Y/Y Nov | -7.50% | -11% | | 07:00 | GBP | CPI M/M Nov | 0.20% | 0.00% | | 07:00 | GBP | CPI Y/Y Nov | 4.30% | 4.60% | | 07:00 | GBP | Core CPI Y/Y Nov | 5.50% | 5.70% | | 07:00 | GBP | RPI M/M Nov | 0.30% | -0.20% | | 07:00 | GBP | RPI Y/Y Nov | 5.80% | 6.10% | | 07:00 | GBP | PPI Input M/M Nov | -0.60% | 0.40% | | 07:00 | GBP | PPI Input Y/Y Nov | -3.30% | -2.60% | | 07:00 | GBP | PPI Output M/M Nov | -0.10% | 0.10% | | 07:00 | GBP | PPI Output Y/Y Nov | -0.50% | -0.60% | | 07:00 | GBP | PPI Core Output M/M Nov | 0.10% | | 07:00 | GBP | PPI Core Output Y/Y Nov | 0.20% | | 09:00 | EUR | Eurozone Current Account (EUR) Oct | 27.0B | 31.2B | | 13:30 | USD | Current Account (USD) Q3 | -197B | -212B | | 15:00 | USD | Existing Home Sales Nov | 3.78M | 3.79M | | 15:00 | USD | Consumer Confidence Dec | 103.9 | 102 | | 15:00 | EUR | Eurozone Consumer Confidence Dec P | -16.5 | -16.9 | | 15:30 | USD | Crude Oil Inventories | -4.3M | | 18:30 | CAD | BoC Summary of Deliberations |
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