Action Insight Mid-Day Report 12-15-23

Dollar Rebounds on New York Fed President's Remarks, Euro and Sterling Soften after PMIs

Dollar is having a notable rebound in early US trading session, buoyed by comments from New York Fed President John Williams. Speaking on CNBC's "Squawk Box," Williams stated, "we aren't really talking about rate cuts right now," adding that it is "premature" to consider rate cuts as early as March. This assertion by a key Fed official appears to have provided a boost to the Dollar, which had been under pressure in recent times.

Williams further emphasized Fed's focus on determining if the current monetary policy is "sufficiently restrictive" to bring inflation back down to the 2% target. He also highlighted the unpredictable nature of economic data, suggesting Fed must be prepared to "tighten the policy further, if the progress of inflation were to stall or reverse."...

Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0905; (P) 1.0957; (R1) 1.1044; More...

EUR/USD failed to break through 1.1016 resistance and retreated notably in early US session. Intraday bias is turned neutral first. Some consolidations would be seen. But for now, outlook will stay cautiously bullish as long as 1.0722 support holds. On the upside, decisive break of 1.1016 will confirm resumption of whole rally from 1.0447. Further rise should then be seen to retest 1.1274 high.

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

British Pound Steady after Mmixed PMIs

AUDUSD Looks for Bullish Expansion

AUDUSD: Solid Chinese Data Further Boost Post-Fed Rally

Euro Dips on Soft Services PMI

USDCAD Plummets Below Crucial Trendline

Australian Dollar Extends Gains on Chinese Data

USDCHF Corrects Higher After 4-month Low