Dollar Retreats as Stocks Rebound, Yields Tumble
| Action Insight Daily Report 9-28-22 |
Dollar Retreats as Stocks Rebound, Yields Tumble |
Dollar retreated notably overnight, following the rebound in US stocks and steep pull back in treasury yields. But it's so far staying as the second strongest for the week, next to Swiss Franc, while Euro is third. Sterling stabilized further with another recovery attempt in progress. Commodity currencies are on the weaker side, with New Zealand Dollar flaring worst, while Yen is extending its pull back. Technically, the loss of upside momentum in Dollar is becoming more apparent. Yet, there is no clear sign of reversal. At least, some levels need to be taken out to confirm short term topping in the greenback, including 0.9863 support turned resistance in EUR/USD, and 0.6698 support turned resistance in AUD/USD. In Asia, at the time of writing, Nikkei is up 0.75%. Hong Kong HSI is up 1.19%. China Shanghai SSE is up 0.27%. Singapore Strait Times is up 0.96%. Japan 10-year yield is down -0.0019 at 0.250. Overnight, DOW rose 1.88%. S&P 500 rose 1.97%. NADSAQ rose 2.05%. 10-year yield dropped sharply by -0.259 to 3.705. |
AUD/USD Daily Report Daily Pivots: (S1) 0.6416; (P) 0.6473; (R1) 0.6583; More... Intraday bias in AUD/USD is turned neutral with current recovery. Some consolidations could be seen first. But outlook will remain bearish as long as 0.6698 support turned resistance holds. Break of 0.6362 will resume larger down trend. Next target is 100% projection of 0.7660 to 0.6680 from 0.7135 at 0.6155. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
|---|
| 09:00 | EUR | Eurozone Economic Sentiment Indicator Sep | 95 | 97.6 | | 09:00 | EUR | Eurozone Industrial Confidence Sep | -1 | 1.2 | | 09:00 | EUR | Eurozone Services Sentiment Sep | 7 | 8.7 | | 09:00 | EUR | Eurozone Consumer Confidence Sep F | -28.8 | -28.8 | | 12:00 | EUR | Germany CPI M/M Sep P | 1.60% | 0.30% | | 12:00 | EUR | Germany CPI Y/Y Sep P | 9.50% | 7.90% | | 12:30 | CAD | GDP M/M Jul | -0.10% | 0.10% | | 12:30 | USD | Initial Jobless Claims (Sep 23) | 213K | 213K | | 12:30 | USD | GDP Annualized Q2 F | -0.60% | -0.60% | | 12:30 | USD | GDP Price Index Q2 F | 8.90% | 8.90% | | 14:30 | USD | Natural Gas Storage | 103B |
|
|
|
