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Macro

USD Overview (27 January 2022)Yesterday, USD strengthened against all major currencies. During the monetary policy meeting earlier today, the FOMC held interest rate at the targeted range of 0-0.25% while making no changes to QE tapering. The central bank is also expecting QE to end in March. During the press conference, Chairman Powell highlighted that the committee members agree that interest rate hike will soon be appropriate due to the elevated inflation. On the matter of uploading of bonds, the central bank Chief said that more details will be provided during the next meeting in March. The U.S. Advance GDP q/q data (Forecast: 5.3%, Previous: 2.3% revised 2.0%) will be released later at 2130 (GMT+8).
TVC:DXY
by JinDao_Tai
NZD/USD Outlook (26 January 2022)Overall, NZD/USD is ranging across. Recently, NZD/USD rejected the resistance zone of 0.67100. The New Zealand CPI q/q data (Forecast: 1.3%, Previous: 2.2%) will be released tomorrow at 0545 (GMT+8). Currently, NZD/USD is testing the resistance zone of 0.67100 and the next support zone is at 0.65400. If NZD/USD rejects the resistance zone of 0.67100, look for short-term selling opportunities up until the FOMC announcement tomorrow at 0300 (GMT+8).
Short
by JinDao_Tai
AUD/USD Outlook (26 January 2022)Overall, AUD/USD is ranging across. The Australian CPI q/q data (Actual: 1.3%, Forecast: TBA, Previous: 0.8%) released yesterday indicated that inflation ran hotter during the fourth quarter of 2021 than the third quarter. Australian banks will be closed today in observance of Australia Day. Expect lower trading volatility and volume during the usual Australian market hours. 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 up until the FOMC announcement tomorrow at 0300 (GMT+8).
Long
by JinDao_Tai
USD/CAD Outlook (26 January 2022)Overall, USD/CAD is trending downwards. Recently, USD/CAD traded into the support zone of 1.26100. The Bank of Canada (BoC) will be announcing their monetary policy decision later at 2300 (GMT+8). With the ever-rising inflation in Canada, the central bank may increase interest rate by 0.25% in an attempt to tame inflation. A press conference will be held at 0000 (GMT+8). During this time, there may be volatility in CAD. Currently, USD/CAD is testing the support zone of 1.26100 and its next resistance zone is at 1.29200. If USD/CAD bounces off the support zone of 1.26100, look for short-term buying opportunities of USD/CAD up until the Bank of Canada announcement at 2300 (GMT+8).
Long
by JinDao_Tai
1
USD/JPY Outlook (26 January 2022)Overall, USD/JPY is trending downwards. Recently, USD/JPY bounced off the resistance zone of 114.200. The Bank of Japan Core CPI y/y data (Actual: 0.9%, Forecast: 0.7%, Previous: 0.8%) released yesterday indicated a faster pace of inflation. Currently, USD/JPY is trading towards the resistance zone of 114.200 and its next support zone is at 112.800. If USD/JPY bounces off the resistance zone of 114.200, look for short-term selling opportunities up until the FOMC announcement tomorrow at 0300 (GMT+8).
Short
by JinDao_Tai
USD Overview (26 January 2022)Yesterday, USD weakened against most major currencies except EUR, NZD and CHF. The U.S. FOMC will be announcing their monetary policy decision tomorrow at 0300 (GMT+8). It is expected that the central bank will keep interest rate unchanged at the targeted range of 0-0.25% and make no change to quantitative easing tapering. Nonetheless, pay attention to any details provided on the timeline of interest rate hike and the unloading of bond holdings from the Fed. A press conference will be held at 0330 (GMT+8). During this time, volatility is expected.
TVC:DXY
by JinDao_Tai
GBP/JPY Outlook (25 January 2022)Overall, GBP/JPY is ranging across. Recently, GBP/JPY broke the support zone of 153.800. The UK flash PMI data released yesterday indicated a slight slowdown in business activities in both the manufacturing and services sectors. Flash Manufacturing PMI (Actual: 56.9, Forecast: TBA, Previous: 57.9 revised from 57.6) Flash Services PMI (Actual: 53.3, Forecast: TBA, Previous: 53.1 revised from 53.2) Currently, GBP/JPY is testing the resistance zone of 153.800 and the next support zone is at 151.000. Look for short-term selling opportunities of GBP/JPY if it bounces off the resistance zone of 153.800.
Short
by JinDao_Tai
1
GBP/USD Outlook (25 January 2022)Overall, GBP/USD is ranging across. Recently, GBP/USD broke below the key level of 1.35. The UK flash PMI data released yesterday indicated a slight slowdown in business activities in both the manufacturing and services sectors. Flash Manufacturing PMI (Actual: 56.9, Forecast: TBA, Previous: 57.9 revised from 57.6) Flash Services PMI (Actual: 53.3, Forecast: TBA, Previous: 53.1 revised from 53.2) 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 (25 January 2022)Overall, EUR/JPY is ranging across. The series of eurozone flash PMI data releases yesterday indicated that business activities continue to expand. Also, the services sector in Germany has rebounded from contraction into expansion. French Flash Manufacturing PMI (Actual: 53.1, Forecast: TBA, Previous: 55.6 revised from 54.9) French Flash Service PMI (Actual: 55.5, Forecast: TBA, Previous: 57.0 revised from 57.1) German Flash Manufacturing PMI (Actual: 60.5, Forecast: TBA, Previous: 57.4 revised from 57.9) German Flash Services PMI (Actual: 52.2, Forecast: TBA, Previous: 48.7 revised from 48.4) Flash Manufacturing PMI (Actual: 59.0, Forecast: TBA, Previous: 58.0) Flash Services PMI (Actual: 51.2, Previous: 53.1 revised from 53.3) Currently, EUR/JPY is testing the support zone of 128.800 and the next resistance zone is at 130.000. Look for short-term selling opportunities of EUR/JPY if it breaks the support zone of 128.800.
Short
by JinDao_Tai
EUR/USD Outlook (25 January 2022)Overall, EUR/USD is ranging across. Recently, EUR/USD bounced up from the key level of 1.13. The series of eurozone flash PMI data releases yesterday indicated that business activities continue to expand. Also, the services sector in Germany has rebounded from contraction into expansion. French Flash Manufacturing PMI (Actual: 53.1, Forecast: TBA, Previous: 55.6 revised from 54.9) French Flash Service PMI (Actual: 55.5, Forecast: TBA, Previous: 57.0 revised from 57.1) German Flash Manufacturing PMI (Actual: 60.5, Forecast: TBA, Previous: 57.4 revised from 57.9) German Flash Services PMI (Actual: 52.2, Forecast: TBA, Previous: 48.7 revised from 48.4) Flash Manufacturing PMI (Actual: 59.0, Forecast: TBA, Previous: 58.0) Flash Services PMI (Actual: 51.2, Previous: 53.1 revised from 53.3) Currently, EUR/USD is trading down towards the key level of 1.13. Its next support zone is at 1.12000 and the next resistance zone is at 1.13800. Look for short-term selling opportunities of EUR/USD if it breaks below the key level of 1.13.
Short
by JinDao_Tai
AUD/USD Outlook (25 January 2022)Overall, AUD/USD is ranging across. Recently, AUD/USD bounced off the support zone of 0.71000. The Australian CPI q/q data (Forecast: TBA, Previous: 0.8%) will be released later at 0830 (GMT+8). Australian banks will be closed tomorrow in observance of Australia Day. Expect lower trading volatility and volume during the usual Australian market hours. AUD/USD’s 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.
Short
by JinDao_Tai
USD/JPY Outlook (25 January 2022)Overall, USD/JPY is trending downwards. The Japanese Flash Manufacturing PMI data (Actual: 54.6, Forecast: 55.0, Previous: 54.3 revised from 54.2) released yesterday indicated a slight slowdown in the manufacturing sector this month. The Bank of Japan Core CPI y/y data (Forecast: 0.7%, Previous: 0.8%) will be released later at 1300 (GMT+8). Currently, USD/JPY is trading towards the resistance zone of 114.200 and its next support zone is at 112.800. Look for short-term selling opportunities of USD/JPY if it bounces off the resistance zone of 114.200.
Short
by JinDao_Tai
1
USD Overview (25 January 2022)Yesterday, USD strengthened against all major currencies. The flash PMI data released yesterday indicated that business activities expanded at a slower pace in January. Flash Manufacturing PMI (Actual: 55.0, Forecast: TBA, Previous: 57.7 revised from 57.8) Flash Services PMI (Actual: 50.9, Forecast: TBA, Previous: 57.6 revised from 57.5) The Conference Board Consumer Confidence data (Forecast: 111.9, Previous: 115.8) will be released later at 2300 (GMT+8).
TVC:DXY
by JinDao_Tai
GBP/JPY Outlook (24 January 2022)Overall, GBP/JPY is trending upwards. Recently, GBP/JPY traded into the support zone of 153.800. The UK flash PMI data will be released later at 1730 (GMT+8). Flash Manufacturing PMI (Forecast: TBA, Previous: 57.9 revised from 57.6) Flash Services PMI (Forecast: TBA, Previous: 53.1 revised from 53.2) Currently, GBP/JPY is bouncing off the support zone of 153.800 and the next resistance zone is at 156.000. Look for short-term selling opportunities of GBP/JPY only if it breaks the support zone of 153.800.
Short
by JinDao_Tai
1