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Macro

AUD/USD Outlook (12 January 2022)Overall, AUD/USD is ranging across. Recently, AUD/USD broke above the key level of 0.72. The Australian Retail Sales data (Actual: 7.3%, Forecast: 3.5%, Previous: 4.9%) released yesterday indicated a strong rise in consumer spending last November due to the easing of COVID restrictions and pre-Christmas shopping. AUD/USD’s next support zone is at 0.71000 and the next resistance zone is at 0.73000. Look for short-term buying opportunities of AUD/USD.
Long
by JinDao_Tai
USD Overview (12 January 2022)Yesterday, USD weakened against most major currencies except JPY. During his testimony yesterday, FOMC Chairman Jerome Powell affirmed that the central bank’s quantitative easing will be ending in March. Also, Powell mentioned that the Fed may carry out the unloading of its bond holdings this year. The CPI m/m data will be released later at 2130 (GMT+8). CPI m/m (Forecast: 0.4%, Previous: 0.8%) Core CPI m/m (Forecast: 0.5%, Previous: 0.5%) FOMC member Brainard will be testifying on her nomination of Vice Chair before the Senate banking committee later at 2300 (GMT+8). During this time, there may be volatility in USD.
TVC:DXY
by JinDao_Tai
AUD/USD Outlook (11 January 2022)Overall, AUD/USD is ranging across. Recently, AUD/USD bounced down from the key level of 0.72. The Australian Building Approvals m/m data (Actual: 3.6%, Forecast: TBA, Previous: -13.6% revised from -12.9%) released yesterday indicated an increase in the number of building permits issued in November, rebounding from the previous month’s decline. The Australian Retail Sales data (Forecast: TBA, Previous: 4.9%) will be released later at 0830 (GMT+8). Currently, AUD/USD is trading up towards the key level of 0.72. Its next support zone is at 0.71000 and the next resistance zone is at 0.73000. Look for short-term selling opportunities of AUD/USD if it bounces down from the key level of 0.72.
Short
by JinDao_Tai
GBP/JPY Outlook (10 January 2022)Overall, GBP/JPY is trending upwards. The UK Construction PMI data (Actual: 54.3, Forecast: 53.9, Previous: 55.5) released last Friday indicated a slight slowdown in the pace of expansion of the construction sector in December. Currently, GBP/JPY is testing to break above the key level of 157. Its next support zone is at 156.000 and the next resistance zone is at 158.000. Look for short-term selling opportunities of GBP/JPY if it bounces down from the key level of 157.
Short
by JinDao_Tai
GBP/USD Outlook (10 January 2022)Overall, GBP/USD is trending upwards. Recently, GBP/USD traded into the resistance zone of 1.36000. The UK Construction PMI data (Actual: 54.3, Forecast: 53.9, Previous: 55.5) released last Friday indicated a slight slowdown in the pace of expansion of the construction sector in December. Currently, GBP/USD is testing the resistance zone of 1.36000 and the next support zone is at 1.33800. Look for short-term selling opportunities of GBP/USD if it rejects the resistance zone of 1.36000.
Short
by JinDao_Tai
EUR/JPY Outlook (10 January 2022)Overall, EUR/JPY is trending upwards. Recently, EUR/JPY trended into the resistance zone of 131.500. The eurozone CPI flash estimate y/y data released last Friday indicated that inflation in the eurozone hit a new record high mainly driven by higher energy prices. CPI Flash Estimate y/y (Actual: 5.0%, Forecast: 4.8%, Previous: 4.9%) Core CPI Flash Estimate y/y (Actual: 2.6%, Forecast: 2.5%, Previous: 2.6%) The eurozone Unemployment Rate data (Forecast: TBA, Previous: 7.3%) will be released later at 1800 (GMT+8). Currently, EUR/JPY is testing the resistance zone of 131.500 and the next support zone is at 130.000. Look for short-term selling opportunities of EUR/JPY if it rejects the resistance zone of 131.500.
Short
by JinDao_Tai
EUR/USD Outlook (10 January 2022)Overall, EUR/USD is ranging across. Recently, EUR/USD bounced up from the key level of 1.13. The eurozone CPI flash estimate y/y data released last Friday indicated that inflation in the eurozone hit a new record high mainly driven by higher energy prices. CPI Flash Estimate y/y (Actual: 5.0%, Forecast: 4.8%, Previous: 4.9%) Core CPI Flash Estimate y/y (Actual: 2.6%, Forecast: 2.5%, Previous: 2.6%) The eurozone Unemployment Rate data (Forecast: TBA, Previous: 7.3%) will be released later at 1800 (GMT+8). EUR/USD’s next support zone is at 1.12000 and its next resistance zone is at 1.13800. Look for short-term selling opportunities of EUR/USD.
Short
by JinDao_Tai
USD/CAD Outlook (10 January 2022)Overall, USD/CAD is ranging across. Recently, USD/CAD broke below the key level of 1.27. The Canadian employment data released last Friday indicated a slowdown in jobs creation during last December while unemployment rate inched lower. Employment Change (Actual: 54.7K, Forecast: 24.5K, Previous: 153.7K) Unemployment Rate (Actual: 5.9%, Forecast: 6.0%, Previous: 6.0%) Also, the Canadian Ivey PMI data (Actual: 45.0, Forecast: 64.3, Previous: 61.2) released indicated that business activities in Canada contracted in December. Currently, USD/CAD is trading towards the support zone of 1.26100 and its next resistance zone is at 1.29200. Look for short-term buying opportunities of USD/CAD if it rejects the support zone of 1.26100.
Long
by JinDao_Tai