Sunday, October 18, 2015

Action Insight Daily Report 10-19-15

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Action Insight Market Overview Markets Snapshot

Daily Report: Asian Markets Soft as China Growth Slowed

Asian markets open the week mildly lower and stay soft after release of a batch of China data. The forex markets are generally staying in tight range. Q3 GDP growth in China slowed to 6.9% yoy, below government's target of 7.0%. But that was slightly better than market expectation of 6.8% yoy. Retail sales rose 10.9% yoy in September versus expectation of 10.8% yoy. The closely watched industrial production and fixed assets investments were weak. Industrial production slowed to 5.7% yoy in September versus expectation of 6.0% yoy. Fixed asset investments slowed to 10.3% yoy in September versus expectation of 10.8% yoy.

Full Report Here...


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Featured Technical Report

AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7231; (P) 0.7283; (R1) 0.7319; More...

Aussie recovers mildly after drawing support from 4 hours 55 EMA but stays in right range. Intraday bias remains neutral and outlook is unchanged. We'd continue to expect strong resistance from 38.2% retracement of 0.8161 to 0.6905 at 0.7385 to complete the consolidation from 0.6905. Below 0.7164 minor support will turn bias back to the downside for retesting 0.6905 low. However, sustained break of 0.7385 will put 0.7625 key resistance in focus.

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Economic Indicators Update

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GMT Ccy Events Actual Consensus Previous Revised
23:01 GBP Rightmove House Prices M/M Oct 0.60% 0.90%
2:00 CNY GDP Y/Y Q3 6.90% 6.80% 7.00%
2:00 CNY Retail Sales Y/Y Sep 10.90% 10.80% 10.80%
2:00 CNY Industrial Production Y/Y Sep 5.70% 6.00% 6.10%
2:00 CNY Fixed Assets Ex Rural YTD Y/Y Sep 10.30% 10.80% 10.90%
14:00 USD NAHB Housing Market Index Oct 62 62
Forex Trade Ideas

Remark: Due to holidays, update will resume on Monday 19 Oct 2015.

Candlesticks Intraday Trade Ideas Update Schedule (GMT):
1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530
Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF

Elliott Wave Daily Trade Ideas Update Schedule (GMT):
AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500

Suggested Readings

Fundamental Highlights

Technical Highlights

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