Action Insight Daily Report 10-17-18

Dollar Ignores Another Trump Attack on Fed, Yen Higher as Chinese Stocks Resume Down Trend

Action Insight Daily Report 10-17-18 Dollar Ignores Another Trump Attack on Fed, Yen Higher as Chinese Stocks Resume Down Trend US equities closed sharply higher overnight with DOW ended up 2.17%. Optimism carried on in early part of Asian session but couldn't persist. At the time of writing, China's Shanghai SSE reversed earlier gains and is trading down -0.8%, breaking yesterday's low to extend larger down trend. Riding on this, Dollar and Yen are trading as the two strongest ones for now. Canadian Dollar, Euro and Sterling has under some selling pressure. But overall, the forex markets are in consolidative mode. EUR/USD's spike to 1.1621 yesterday but quickly dipped back into established tight range. GBP/USD had much volatility this week but it's also bounded in range below 1.3257. USD/CHF, USD/JPY, EUR/GBP, EUR/JPY, GBP/JPY and EUR/AUD are all clearly in consolidation. Trump's another attack on Fed couldn't trigger a breakout, nor stock rally. Let's see if today's UK CPI, EU summit and FOMC minutes could trigger some sustainable moves. Technically, EUR/USD's focus is back on 1.1534 minor support. 0.9954 in USD/CHF and 112.52 minor resistance in USD/JPY will also be watched today for clues on Dollar's strength, if it exists. Full Report Here RBA Debelle: Unemployment rate might drop further before material rise in... Fed Daly favors gradual pace of monetary policy normalization Trump called Fed his biggest threat but added he's not blaming... EU Tusk: No optimism on tomorrow's summit on Brexit Quick Comments Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – USD Bulls Triumphed as Greenback Remained... CFTC Commitments of Traders – NET SHORT for Natural Gas Narrows... Conditions Still in Place for Further Dollar Rally Despite Trump's Crazy... Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Daily Outlook Daily Pivots: (S1) 1.1552; (P) 1.1587; (R1) 1.1609; More..... EUR/USD spiked to 1.1621 but quickly retreated. Intraday bias is turned neutral again. On the upside, above 1.1621 will resume the rebound from 1.1431. But upside should be limited by 1.1779/1814 resistance zone to bring down trend resumption eventually. On the downside, break of 1.1534 will indicate completion of rebound from 1.1431. Intraday bias will be turned back to the downside for 1.1431 and then 1.1300 low. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings USD/CAD At Risk Of More Declines Below 1.2920 You Just Know That Something Good Is Going To Happen Fed Minutes Next on the Plate for Dollar UK Inflation And Retail Sales Expected To Ease In September, Could Weigh On Pound Amid Brexit Stalemate Fundamental Analysis | Technical Analysis In-depth Reports Avoiding What Might Have Been: The Canadian Implications of USMCA What Do the IMF's Trade Concerns Imply for FX Markets? Who is a Currency Manipulator? China Eases Monetary Policy Further, Intervening to Avoid Sharp Fall in Renminbi US Election Monitor #2: Kavanaugh Confirmation Not Likely to Affect the Senate Battle Democrats Might Regain Control of House, And Then? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 20:00 USD Net Long-term TIC Flows (USD) Aug 131.8B 50.3B 74.8B 66.7B 23:30 AUD Westpac Leading Index M/M Sep -0.10% 0.10% 0.00% 8:30 GBP CPI M/M Sep 0.50% 0.70% 8:30 GBP CPI Y/Y Sep 2.80% 2.70% 8:30 GBP Core CPI Y/Y Sep 1.80% 2.10% 8:30 GBP RPI M/M Sep 0.20% 0.90% 8:30 GBP RPI Y/Y Sep 3.20% 3.50% 8:30 GBP PPI Input M/M Sep 0.20% 0.50% 8:30 GBP PPI Input Y/Y Sep 5.70% 8.70% 8:30 GBP PPI Output M/M Sep 0.20% 0.20% 8:30 GBP PPI Output Y/Y Sep 2.90% 2.90% 8:30 GBP PPI Output Core M/M Sep 0.10% 0.10% 8:30 GBP PPI Output Core Y/Y Sep 2.10% 2.10% 8:30 GBP House Price Index Y/Y Aug 3.50% 3.10% 9:00 EUR Eurozone CPI M/M Sep 0.20% 0.20% 9:00 EUR Eurozone CPI Y/Y Sep F 2.10% 2.10% 9:00 EUR Eurozone CPI Core Y/Y Sep F 1.00% 0.90% 12:30 CAD Manufacturing Sales M/M Aug 0.90% 12:30 USD Housing Starts Sep 1.21M 1.28M 12:30 USD Building Permits Sep 1.28M 1.25M 14:30 USD Crude Oil Inventories 6.0M 18:00 USD FOMC Minutes

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