Risk-On Sentiment Drives Global Gains, Kiwi and Aussie Lead the Charge
Action Insight Daily Report 9-27-24 |
Risk-On Sentiment Drives Global Gains, Kiwi and Aussie Lead the Charge |
Risk-on sentiment continues to dominate global financial markets today, driven by widespread monetary easing and a significant boost from China’s latest stimulus measures. US equities finished strong overnight, with all major indexes posting gains. S&P 500 hit a fresh record for the third consecutive time this week. Meanwhile, Germany’s DAX also surged to an all-time high. In Asia, stocks in Hong Kong and mainland China skyrocketed as China's stimulus measures began to take effect. The injection of liquidity and supportive policies have renewed confidence among investors, leading to significant rallies in these markets. The currency markets mirror this risk-on environment. Kiwi and Aussie are the week's biggest winners so far, followed by Loonie. On the opposite end of the spectrum, Japanese Yen has been the weakest, followed by Dollar and Euro. Swiss Franc and British Pound are trading in mixed in the middle. Today’s releases of Canadian GDP and US PCE inflation data are not expected to significantly alter these standings.... |
AUD/USD Daily Report Daily Pivots: (S1) 0.6841; (P) 0.6873; (R1) 0.6927; More... Intraday bias n AUD/USD remains neutral for the moment, and more consolidations could be seen below 0.6907. But further rally is expected as long as 0.6782 support holds. Firm break of 61.8% projection of 0.6348 to 0.6823 from 0.6621 at 0.6915 will extend the rise from 0.6348 to 100% projection at 0.7096 next. | |
GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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23:30 | JPY | Tokyo CPI Y/Y Sep | 2.20% | 2.60% | 23:30 | JPY | Tokyo CPI Core Y/Y Sep | 2.00% | 2.00% | 2.40% | 23:30 | JPY | Tokyo CPI Core-Core Y/Y Sep | 1.60% | 1.60% | 06:45 | EUR | France Consumer Spending M/M Aug | -0.10% | 0.30% | 07:55 | EUR | Germany Unemployment Rate Sep | 6% | 6% | 07:55 | EUR | Germany Unemployment Change Sep | 9K | 2K | 09:00 | EUR | Eurozone Economic Sentiment Sep | 96.5 | 96.6 | 09:00 | EUR | Eurozone Industrial Confidence Sep | -9.8 | -9.7 | 09:00 | EUR | Eurozone Services Sentiment Sep | 5.6 | 6.3 | 09:00 | EUR | Eurozone Consumer Confidence Sep F | -12.9 | -12.9 | 12:30 | CAD | GDP M/M Jul | 0.10% | 0.00% | 12:30 | USD | Personal Income M/M Aug | 0.40% | 0.30% | 12:30 | USD | Personal Spending Aug | 0.30% | 0.50% | 12:30 | USD | PCE Price Index M/M Aug | 0.20% | 0.20% | 12:30 | USD | PCE Price Index Y/Y Aug | 2.30% | 2.50% | 12:30 | USD | Core PCE Price Index M/M Aug | 0.20% | 0.20% | 12:30 | USD | Core PCE Price Index Y/Y Aug | 2.70% | 2.60% | 12:30 | USD | Goods Trade Balance (USD) Aug P | -100.6B | -102.7B | 12:30 | USD | Wholesale Inventories Aug P | 0.20% | 0.20% | 14:00 | USD | Michigan Consumer Sentiment Index Sep F | 69 | 69 |
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