Action Insight Mid-Day Report 10-12-18

Rebound in Global Stocks Lifts Dollar, Treasury Mnuchin also Helps

Action Insight Mid-Day Report 10-12-18 Rebound in Global Stocks Lifts Dollar, Treasury Mnuchin also Helps Global equities rebound and are paring back some of this week's steep losses ahead of weekly close. Dollar is also recovering, in particular against Euro and Sterling. US Treasury Secretary Steven Mnuchin comment on Fed also helped give the greenback a mild lift. But for today, Canadian and Australian Dollar are the strongest one so far, while Dollar is the third. On the other hand, Sterling is the weakest one, followed by Euro. At the time of writing, US futures point to sharply higher open, with triple digit gain in DOW. FTSE is up 0.74%, DAX up 0.74% and CAC up 0.81%. German-Italian spread stays above 300. Italian 10 year yield is down -0.025 at 3.545. German 10 year yield is down -0.008 at 0.512. Earlier today, all major Asian indices closed with gains. Nikkei rose 0.46%, Singapore Strait Times up 0.71%> Hong Kong HSI added 2.21%. China Shanghai SSE gained 0.91% to 2606.91, but still below prior key support at 2638. Technically, with Dollar's rebound, focus is now turned to 1.1534 minor support in EUR/USD and 1.3132 minor support in GBP/USD. Break of these two levels will indicate completion of this week's rebound and could trigger more upside in the greenback. Full Report Here Into US session: Dollar pare losses and global stocks rebound US Mnuchin on Chinese Yuan, trade and Fed ECB Draghi: Cliff-edge Brexit a significant downside risk to financial stability UK Hammond on Brexit negotiation: Positive process, challenging substance Argentine Dujovne: Trade tensions faced among G20 members China exports to US grew despite trade war, imports shrank for... IMF downgrades 2019 Asia growth forecasts, including Australia, Hong Kong, Korea,... US Treasury not to name China a currency manipulator, just keep... Time for a rebound? A look at DOW, S&P 500 and... Quick Comments Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Who is a Currency Manipulator? China Eases Monetary Policy Further, Intervening to Avoid Sharp Fall in... Dollar Surged on Treasury Yields and Bets on Fed Hikes, Except... Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.3195; (P) 1.3222; (R1) 1.3261; More... With 4 hour MACD crossed below signal line, a temporary top is formed at 1.3257. Intraday bias in GBP/USD is turned neutral first. Another rise cannot be ruled out yet. But we'd still expect upside to be limited by 1.3316 key fibonacci level to limit upside to bring down trend resumption eventually. On the downside, below 1.3132 minor support will turn bias back to the downside for 1.2921 first. However, sustained break of 1.3316 would pave the way to next fibonacci level at 1.3721. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Euro, Pound Erase Gains; Equities Take off as Risk-off Recedes US 30 Index Bulls Retake Control After Sharp Sell-Off Crude Sell-Off Pauses But Outlook Is Bleak Investors Take A Breather As The Equity And The FX Markets Stabilise Global Stocks Bounce Back, Gold Shines Through Chaos FTSE100 Index Has Extreme Reading, A Buy Opportunity? GBPJPY Retains Sideways Channel, Lacks Direction In Very Short-Term USDCAD Rally Eases Below Short-Term Downtrend Line 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 #1: Divided Congress Still Most Likely Outcome With One Month to Go Democrats Might Regain Control of House, And Then? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 21:30 NZD BusinessNZ Manufacturing PMI Sep 51.7 52 23:50 JPY Japan Money Stock M2+CD Y/Y Sep 2.80% 2.90% 2.90% 0:30 AUD Home Loans M/M Aug -2.10% -0.90% 0.40% 0.00% 2:54 CNY Trade Balance (USD) Sep 31.7B 19.4B 27.9B 2:54 CNY Trade Balance (CNY) Sep 213B 192.3B 179.8B 4:30 JPY Tertiary Industry Index M/M Aug 0.50% 0.30% 0.10% -0.10% 6:00 EUR German CPI M/M Sep F 0.40% 0.40% 0.40% 6:00 EUR German CPI Y/Y Sep F 2.30% 2.30% 2.30% 9:00 EUR Eurozone Industrial Production M/M Aug 1.00% 0.40% -0.80% -0.70% 12:30 USD Import Price Index M/M Sep 0.50% 0.30% -0.60% -0.40% 14:00 USD U. of Mich. Sentiment Oct P 100.9 100.1

Action Forex Company Limited, Room 804, 8/F., Prosperity Centre, 982 Canton Road, Mongkok, Kowloon 852 Hong Kong SafeUnsubscribe™ mondemand.forex@blogger.com Forward this report to a friend! | Update Profile | About our service provider Sent by contact@actionforex.com in collaboration with Try it free today