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Macro

AUD/USD Outlook (08 February 2022)Overall, AUD/USD is ranging across. The Australian Retail Sales m/m data (Actual: -4.4%, Forecast: TBA, Previous: -4.4%) released earlier today indicated continued decline in consumer spending in January. The Australian Westpac Consumer Sentiment data (Forecast: NA, Previous: -2.0%) will be released tomorrow at 0730 (GMT+8). Currently, AUD/USD is testing the resistance zone of 0.71000 and its next support zone is at 0.68200. Look for selling opportunities of AUD/USD if it bounces off the resistance zone of 0.71000.
Short
by JinDao_Tai
GBP/USD Outlook (07 February 2022)Overall, GBP/USD is ranging across. Recently, GBP/USD bounced off the resistance zone of 1.36000 after the release of the better-than-expected U.S. jobs report. The UK Construction PMI data (Actual: 56.3, Forecast: 54.3, Previous: 54.3) released last Friday indicated a faster pace of expansion in the construction sector during January. GBP/USD’s next support zone is at 1.33800 and the next resistance zone is at 1.36000. Look for short-term selling opportunities of GBP/USD.
Short
by JinDao_Tai
EUR/JPY Outlook (07 February 2022)Overall, EUR/JPY is trending downwards. Recently, EUR/JPY broke the resistance zone of 131.500. European Central Bank President Lagarde will be testifying before the European Parliament Economic and Monetary Affairs Committee later at 2345 (GMT+8). During this time, there may be volatility in EUR. Currently, EUR/JPY is testing to break above the key level of 132. Its next support zone is at 131.500 and the next resistance zone is at 134.000. Look for buying opportunities of EUR/JPY if it breaks above the key level of 132.
Long
by JinDao_Tai
AUD/USD Outlook (07 February 2022)Overall, AUD/USD is ranging across. Recently, AUD/USD broke the support zone of 0.71000 after the release of the strong U.S. jobs report. The Australian Retail Sales m/m data (Forecast: TBA, Previous: -4.4%) will be released later at 0830 (GMT+8). Currently, AUD/USD is moving towards the resistance zone of 0.71000. Its next support zone is at 0.68200 and the next resistance zone is at 0.71000. Look for selling opportunities of AUD/USD if it bounces off the resistance zone of 0.71000.
Short
by JinDao_Tai
USD/CAD Outlook (07 February 2022)Overall, USD/CAD is ranging across. Recently, USD/CAD broke above the key level of 1.27 after the release of the strong U.S. jobs report and the weak Canadian jobs report. The Canadian employment data released last Friday indicated a higher-than-expected loss in jobs during January due to stricter implementation of COVID measures amid the spread of the Omicron variant. Employment Change (Actual: -200.1K, Forecast: -121.5K, Previous: 54.7K) Unemployment Rate (Actual: 6.5%, Forecast: 6.3%, Previous: 5.9%) Also, the Canadian Ivey PMI data (Actual: 50.7, Forecast: 55.1, Previous: 45.0) released last Friday indicated a recovery in business activities into the expansionary level in January. USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200. Look for short-term buying opportunities of USD/CAD.
Long
by JinDao_Tai
USD Overview (07 February 2022)Last Friday, USD strengthened against most major currencies except EUR. The U.S. employment report released last Friday indicated that more jobs were being added into the economy in January than expected despite the rise in COVID cases due to the Omicron variant. Average Hourly Earnings m/m (Actual: 0.7%, Forecast: 0.5%, Previous: 0.6%) Non-Farm Employment Change (Actual: 467K, Forecast: 145K, Previous: 199K) Unemployment Rate (Actual: 4.0%, Forecast: 3.9%, Previous: 3.9%)
TVC:DXY
by JinDao_Tai
GBP/JPY Outlook (04 February 2022)Overall, GBP/JPY is trending downwards. Recently, GBP/JPY broke the resistance zone of 156.000. During the monetary policy meeting yesterday, the Bank of England hiked interest rate by 0.25% from 0.25% to 0.50% in an effort to tame the rising inflation in the UK. The central bank’s Governor Andrew Bailey also highlighted during the press conference that more rate hikes can be expected. The UK Construction PMI data (Forecast: 54.3, Previous: 54.3) will be released later at 1730 (GMT+8). Bank of England MPC Member Broadbent will be speaking later at 2015 (GMT+8). During this time, there may be volatility in GBP. GBP/JPY’s next support zone is at 156.000 and the next resistance zone is at 158.000. Look for short-term buying opportunities of GBP/JPY.
Long
by JinDao_Tai
GBP/USD Outlook (04 February 2022)Overall, GBP/USD is ranging across. Recently, GBP/USD trended into the resistance zone of 1.36000. During the monetary policy meeting yesterday, the Bank of England hiked interest rate by 0.25% from 0.25% to 0.50% in an effort to tame the rising inflation in the UK. The central bank’s Governor Andrew Bailey also highlighted during the press conference that more rate hikes can be expected. The UK Construction PMI data (Forecast: 54.3, Previous: 54.3) will be released later at 1730 (GMT+8). Bank of England MPC Member Broadbent will be speaking later at 2015 (GMT+8). During this time, there may be volatility in GBP. Currently, GBP/USD is testing the resistance zone of 1.36000 and the next support zone is at 1.33800. If GBP/USD breaks the resistance zone of 1.36000, look for short-term buying opportunities of GBP/USD up until the release of the U.S. NFP data at 2130 (GMT+8).
Long
by JinDao_Tai
2
EUR/JPY Outlook (04 February 2022)Overall, EUR/JPY is trending downwards. Recently, EUR/JPY broke the resistance zone of 130.000. During the monetary policy meeting yesterday, the European Central Bank (ECB) kept its monetary policy unchanged. However, during the press conference, President Lagarde highlighted that “risks to the inflation outlook are tilted to the upside”, indicating that the central bank is beginning to acknowledge inflation risk. As a result, euro strengthened across the board. Currently, EUR/JPY is testing the resistance zone of 131.500 and the next support zone is at 130.000. Look for short-term buying opportunities of EUR/JPY if it breaks the resistance zone of 131.500.
Long
by JinDao_Tai
EUR/USD Outlook (04 February 2022)Overall, EUR/USD is ranging across. Recently, EUR/USD broke the resistance zone of 1.138. During the monetary policy meeting yesterday, the European Central Bank (ECB) kept its monetary policy unchanged. However, during the press conference, President Lagarde highlighted that “risks to the inflation outlook are tilted to the upside”, indicating that the central bank is beginning to acknowledge inflation risk. As a result, euro strengthened across the board. EUR/USD’s next support zone is at 1.13800 and the next resistance zone is at 1.15000. With the hawkish comment from the ECB, look for short-term buying opportunities of EUR/USD up until the release of the U.S. NFP data at 2130 (GMT+8).
Long
by JinDao_Tai
USD/CAD Outlook (04 February 2022)Overall, USD/CAD is ranging across. Recently, USD/CAD bounced down from the key level of 1.27. The Canadian employment data will be released later at 2130 (GMT+8). Employment Change (Forecast: -121.5K, Previous: 54.7K) Unemployment Rate (Forecast: 6.3%, Previous: 5.9%) Also, the Canadian Ivey PMI data (Forecast: 55.1, Previous: 45.0) will be released later at 2300 (GMT+8). USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200. Look for short-term selling opportunities of USD/CAD up until the release of the U.S. NFP and Canadian employment data at 2130 (GMT+8).
Short
by JinDao_Tai