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Action Insight Mid-Day Report

Dollar Soft as Risk Appetite Boost Commodity Currencies

Dollar remains generally soft as risk appetite returns to markets. Commodity currencies are particularly strong, tracking rebound in both gold and crude oil. Gold is staying firm above 1100 level while crude oil is set to take on 76 level. Empire State manufacturing index from US came in much stronger than expected at 24.9 in February and US stocks are set to have higher open on optimism for recovery. Stronger than expected rebound in commodities and stocks would likely keep dollar under pressure for a while.

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AUD/USD Mid-Day Outlook

Daily Pivots: (S1) 0.8851; (P) 0.8880; (R1) 0.8912; More

AUD/USD's rise from 0.8577 is still in progress and surges to as high as 0.8978 so far in early US session. Intraday bias remains on the upside and further rally could be seen. Nevertheless, strong resistance is expected at 61.8% retracement of 0.9327 to 0.8577 at 0.9041 to limit the rebound and bring another fall. Below 0.8873 minor support will turn intraday bias neutral first. Break of 0.8785 will suggest that rebound from 0.8577 has completed and will flip intraday bias back to the downside for retesting this support next. However, sustained trading above 0.9041 fibo resistance will dampen our view and put focus back to 0.9327 resistance instead.

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Daily Top Movers

Top 5	Current	Last	Change (Pips)	Change (%)
AUDJPY	80.84	79.94	+90	+1.11%
AUDUSD	0.8981	0.8883	+98	+1.09%
NZDJPY	63.37	62.68	+69	+1.09%
NZDUSD	0.7040	0.6964	+76	+1.08%
GBPAUD	1.7452	1.7622	-170	-0.97%

Last Updated: Feb 16, 14:00 GMT

Currency Heat Map Daily View

	USD	EUR	JPY	GBP	CHF	CAD	AUD
USD
EUR
JPY
GBP

Last Updated: Feb 16, 14:00 GMT

Economic Indicators Update

GMT	Ccy	Events	Actual	Consensus	Previous
21:45	NZD	PPI - Inputs Q/Q Q4	0.30%	0.50%	-1.10%
21:45	NZD	PPI - Outputs Q/Q Q4	-0.40%	0.40%	-1.40%
00:30	AUD	RBA Meeting Minutes		--	--
00:30	AUD	NAB Business Confidence Jan	15	--	8
09:30	GBP	CPI M/M Jan	-0.20%	-0.10%	0.60%
09:30	GBP	CPI Y/Y Jan	3.50%	3.50%	2.90%
09:30	GBP	Core CPI Y/Y Jan	3.10%	3.20%	2.80%
09:30	GBP	RPI M/M Jan	0.00%	0.00%	0.60%
09:30	GBP	RPI Y/Y Jan	3.70%	3.80%	2.40%
10:00	EUR	German ZEW Survey (Economic Sentiment) Feb	45.1	41	47.2
10:00	EUR	German ZEW Survey (Current Situation) Feb	-54.8	-53	-56.6
10:00	EUR	Eurozone ZEW Survey (Economic Sentiment) Feb	40.2	41.5	46.4
13:30	CAD	Manufacturing Shipments M/M Dec	1.60%	2.10%	0.10%
13:30	USD	Empire Manufacturing Feb	24.9	17.35	15.92
14:00	USD	Net Long-Term TIC Flows Dec	63.3B	50.3B	126.8B
18:00	USD	NAHB Housing Market Index Feb		15	15

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