Dollar Recovers after Inflation Data, Yen Turns Weak
| Action Insight Mid-Day Report 10-28-22 |
Dollar Recovers after Inflation Data, Yen Turns Weak |
Dollar rises broadly in early US session. Stubbornly high inflation reading might be a factor. But the recovery could also be due to traders paring their positions ahead of the weekend, and next week's FOMC. Yen is back under some broad based pressure but stays in familiar range. European stocks are mixed, and so are US futures. Markets might start to turn quieter before close. In Europe, at the time of writing, FTSE is down -0.32%. DAX is down -0.35%. CAC is up 0.04%. Germany 10-year yield is up 0.194 at 2.156. Earlier in Asia, Nikkei dropped -0.88%. Hong Kong HSI dropped -3.66%. China Shanghai SSE dropped -2.21%. Singapore Strait Times rose 1.46%. Japan 10-year JGB yield dropped -0.0110 to 0.242. |
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 145.62; (P) 147.01; (R1) 147.80; More... USD/JPY recovers in early US session but outlook is unchanged. Intraday bias stays neutral as corrective pattern from 151.93 would extend. Deeper pull back cannot be ruled out, but downside is expected to be contained by 38.2% retracement of 130.38 to 151.93 at 143.69 to bring rebound. On the upside, above 149.69 minor resistance will bring stronger rebound back towards 151.93 high. But upside should be limited there to continue the corrective pattern. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 23:30 | JPY | Tokyo CPI Core Y/Y Oct | 3.40% | 3.20% | 2.80% | | 23:30 | JPY | Unemployment Rate Sep | 2.60% | 2.50% | 2.50% | | 00:30 | AUD | PPI Q/Q Q3 | 1.90% | 1.50% | 1.40% | | 00:30 | AUD | PPI Y/Y Q3 | 6.40% | 6.40% | 5.60% | | 03:00 | JPY | BoJ Interest Rate Decision | -0.10% | -0.10% | -0.10% | | 05:30 | EUR | France Consumer Spending M/M Sep | 1.20% | 1.20% | 0.00% | 0.10% | | 05:30 | EUR | France GDP Q/Q Q3 P | 0.20% | 0.20% | 0.50% | | 07:00 | CHF | KOF Leading Indicator Oct | 90.9 | 93 | 93.8 | | 08:00 | EUR | Germany GDP Q/Q Q3 P | 0.30% | -0.20% | 0.10% | | 09:00 | EUR | Eurozone Economic Sentiment Indicator Oct | 92.5 | 92.5 | 93.7 | 93.6 | | 09:00 | EUR | Eurozone Services Sentiment Oct | 1.8 | 3.3 | 4.9 | 4.4 | | 09:00 | EUR | Eurozone Industrial Confidence Oct | -1.2 | -2 | -0.4 | -0.3 | | 09:00 | EUR | Eurozone Consumer Confidence Oct F | -27.6 | -27.6 | -27.6 | -28.8 | | 12:00 | EUR | Germany CPI M/M Oct P | 0.90% | 0.60% | 1.90% | | 12:00 | EUR | Germany CPI Y/Y Oct P | 10.40% | 10.10% | 10.00% | | 12:30 | CAD | GDP M/M Aug | 0.10% | 0.00% | 0.10% | | 12:30 | USD | Personal Income M/M Sep | 0.40% | 0.30% | 0.30% | 0.40% | | 12:30 | USD | Personal Spending Sep | 0.60% | 0.40% | 0.40% | 0.60% | | 12:30 | USD | PCE Price Index M/M Sep | 0.30% | 0.50% | 0.30% | | 12:30 | USD | PCE Price Index Y/Y Sep | 6.20% | 5.80% | 6.20% | | 12:30 | USD | Core PCE Price Index M/M Sep | 0.50% | 0.50% | 0.60% | | 12:30 | USD | Core PCE Price Index Y/Y Sep | 5.10% | 5.20% | 4.90% | | 12:30 | USD | Employment Cost Index Q3 | 1.20% | 1.30% | 1.30% | | 14:00 | USD | Pending Home Sales M/M Sep | -5.30% | -2.00% | | 14:00 | USD | Michigan Consumer Sentiment Index Oct F | 59.8 | 59.8 |
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