Currency Markets in Consolidations, Stocks Could be Stabilizing
| Action Insight Daily Report 4-18-24 |
Currency Markets in Consolidations, Stocks Could be Stabilizing |
The forex markets are still generally staying in consolidative mode today, showing minimal reaction to the latest economic data and comments from central bank officials. Commodity currencies, along with Swiss Franc, are displaying relative strength. Meanwhile, Euro, Dollar, and Yen are on the weaker side. In the broader financial markets, the recent selloff in global equities seems to have found some temporary stability, though downside risks persist. Gold hovering just below 2400 mark, with prospect for an rising leg towards the critical 2500 resistance level, before forming a major bottom. WTI crude oil is retreating this week, but market participants remaining vigilant for any geopolitical escalations, particularly any retaliatory actions by Israel against Iran... |
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 154.11; (P) 154.43; (R1) 154.71; More... Intraday bias in USD/JPY remains neutral for the moment. Considering bearish divergence condition in 4H MACD, in case of another rise, upside should be limited by 155.20 fibonacci projection level. On the downside, break of 153.89 minor support will turn bias back to the downside for 55 4H EMA (now at 153.41) and possibly below. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
|---|
| 01:30 | AUD | NAB Business Confidence Q1 | -2 | -6 | | 01:30 | AUD | Employment Change Mar | -6.6K | 7.2K | 116.5K | 117.6K | | 01:30 | AUD | Unemployment Rate Mar | 3.80% | 3.90% | 3.70% | | 01:30 | AUD | RBA Bulletin Q1 | | 04:30 | JPY | Tertiary Industry Index M/M Feb | 1.50% | 0.80% | 0.30% | -0.50% | | 06:00 | CHF | Trade Balance (CHF) Mar | 3.54B | 3.22B | 3.66B | 3.68B | | 08:00 | EUR | Eurozone Current Account (EUR) Feb | 29.5B | 45.2B | 39.4B | | 12:30 | USD | Initial Jobless Claims (Apr 12) | 212K | 214K | 211K | 212K | | 12:30 | USD | Philadelphia Fed Manufacturing Survey Apr | 15.5 | 0.8 | 3.2 | | 14:00 | USD | Existing Home Sales Mar | 4.20M | 4.38M | | 14:30 | USD | Natural Gas Storage | 54B | 24B |
|
|
|
