Aussie Mixed after RBA Hike, Dollar Paring Gains
| Action Insight Daily Report 9-6-22 |
Aussie Mixed after RBA Hike, Dollar Paring Gains |
Australian Dollar is trading mixed, slightly to the soft side, after RBA's expected 50bps rate hike. There is basically no surprise out of the statement. Dollar is paring back some of recent gains while Yen is also soft. On the other hand, Sterling is leading Euro for a rebound while Canadian Dollar is also a touch firmer. Technically, while Sterling is recovering, upside momentum is hardly convincing so far. GBP/CHF will need to break through 1.1407 minor resistance to indicate short term bottoming first, before having the prospect of stronger rebound. Otherwise, outlook in GBP/CHF will stay bearish, and upside of the Pound could also be capped elsewhere. In Asia, at the time of writing, Nikkei is up 0.09%. Hong Kong HSI is down -0.42%. China Shanghai SSE is up 1.01%. Singapore Strait Times is up 0.33%. Japan 10-year JGB yield is up 0.004 at 0.239. |
AUD/USD Daily Report Daily Pivots: (S1) 0.6779; (P) 0.6792; (R1) 0.6810; More... Intraday bias in AUD/USD is turned neutral with a temporary low formed at 0.6770. Further decline is expected as long as 0.7008 resistance holds. Break of 0.6770 will resume the decline from 0.7135 to retest 0.6680 low. Decisive break there will resume larger down trend. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 23:01 | GBP | BRC Like-For-Like Retail Sales Y/Y Aug | 0.50% | 1.60% | | 23:30 | JPY | Labor Cash Earnings Y/Y Jul | 1.80% | 1.90% | 2.20% | | 23:30 | JPY | Overall Household Spending Y/Y Jul | 3.40% | 4.20% | 3.50% | | 01:30 | AUD | Current Account Balance (AUD) Q2 | 18.3B | 21.5B | 7.5B | | 04:30 | AUD | RBA Interest Rate Decision | 2.35% | 2.35% | 1.85% | | 06:00 | EUR | Germany Factory Orders M/M Jul | -0.20% | -0.40% | | 08:30 | GBP | Construction PMI Aug | 48 | 48.9 | | 13:45 | USD | Services PMI Aug F | 44.1 | 44.1 | | 14:00 | USD | ISM Services PMI Aug | 55.4 | 56.7 |
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