Action Insight Daily Report 12-14-18

Weak Chinese Data Sent Asian Stocks and Aussie Lower

Action Insight Daily Report 12-14-18 Weak Chinese Data Sent Asian Stocks and Aussie Lower Asian stocks are under pressure today as weaker than expected data from China prompted growth worries. New Zealand and Australian Dollar are trading as the weakest ones for today. Sterling follows as the third weakest as UK Prime Minister Theresa May got nothing but vague assurances from the EU summit. On the other hand, Yen is lifted by risk aversion. Dollar follows as second strongest as focus turns to US retail sales. Euro is steady even though ECB delivered a mildly dovish shift yesterday. Technically, AUD/USD's is back below 0.7199 support. Sustained trading below will confirm near term reversal and target 0.7020 low. Euro remains mixed in range. EUR/GBP and EUR/AUD recovered well ahead of 0.8931 and 1.5596 support, thus maintaining near term bullishness. But EUR/USD and EUR/JPY are stuck in range, maintaining near term bearishness. A focus today is whether Sterling has completed this week's recovery and would revisit near term low. In other markets, Nikkei closed down -2.02% at 21374.83. Hong Kong HSI is currently down -1.56%, China Shanghai SSE is down -1.23%, Singapore Strait Times is down -1.12%. 10 year JGB yield is down notably by -0.0197 at 0.035. Full Report Here Japan tankan capex surged, PMI manufacturing improved UK got vague assurances from EU over Irish backstop ECB lowered 2019 growth and inflation forecast, continuing confidence with increasing... ECB press conference live stream, and introductory statement. Quick Comments Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol ECB's Reinvestment of QE Proceeds Would Well- Pass First Rate Hike....   Yield Curve Inversion and Global Slowdown Hammered Stocks, Not US-China Trade...   US-China Trade Ceasefire: Too Early to be Relieved   Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Outlook Daily Pivots: (S1) 0.7210; (P) 0.7229; (R1) 0.7245; More... AUD/USD drops notably after failing to sustained above 4 hour 55 EMA. Focus is back on 0.7199 support. Sustained trading below 0.7199 will confirm completion of corrective rebound from 0.7020. And, deeper fall should then be seen back to retest 0.7020 low. On the upside, above 0.7246 minor resistance will turn bias back to the upside. In that case, corrective rise from 0.7020 would extend to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings GOLD Remains Sell And Oil Buy On Dips ECB Review: Hopeful – Not Confident USD/JPY Approaching Significant Resistance Near 114.00 ECB Recap: Setting The Stage To Push Back Interest Rate Liftoff? Another Patchy Session On Wall Street US Retail Sales in Focus as Fed Meeting Comes into View Fundamental Analysis | Technical Analysis In-depth Reports ECB's Reinvestment of QE Proceeds Would Well- Pass First Rate Hike. Growth Outlook Downgraded ECB Review: Hopeful – Not Confident US: Economy Set To Remain Strong In 2019 Brexit Monitor: Brexit Clash Postponed To January, At The Earliest Deal or No Deal: Trade Ceasefire Between U.S. and China Full of Promises China Weekly Letter - Will the Tech War Threaten a Trade Deal? 2019: The Year of the Deal What to Expect From Central Bankers in 2019 Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 21:30 NZD BusinessNZ Manufacturing PMI Nov 53.5 53.5 53.7 23:50 JPY Tankan Large Manufacturing Index Q4 19 17 19 23:50 JPY Tankan Large Manufacturers Outlook Q4 15 16 19 23:50 JPY Tankan Large Non-Manufacturing Index Q4 24 21 22 23:50 JPY Tankan Large Non-Manufacturing Outlook Q4 24 20 22 23:50 JPY Tankan Small Manufacturing Index Q4 14 13 14 23:50 JPY Tankan Small Manufacturing Outlook Q4 8 11 11 23:50 JPY Tankan Small Non-Manufacturing Index Q4 11 9 10 23:50 JPY Tankan Small Non-Manufacturing Outlook Q4 5 6 5 23:50 JPY Tankan Large All Industry Capex Q4 14.30% 12.70% 13.40% 0:30 JPY PMI Manufacturing Dec P 52.4 52.3 52.2 2:00 CNY Retail Sales Y/Y Nov 8.10% 8.80% 8.60% 2:00 CNY Industrial Production Y/Y Nov 5.40% 5.90% 5.90% 2:00 CNY Fixed Assets Ex Rural YTD Y/Y Nov 5.90% 5.90% 5.70% 4:30 JPY Industrial Production Y/Y Oct F 4.20% 5.90% 5.90% 8:00 EUR France Manufacturing PMI Dec P 50.7 50.8 8:00 EUR France Services PMI Dec P 54.8 55.1 8:30 EUR Germany Manufacturing PMI Dec P 51.7 51.8 8:30 EUR Germany Services PMI Dec P 53.5 53.3 8:30 EUR Eurozone Manufacturing PMI Dec P 51.9 51.8 8:30 EUR Eurozone Services PMI Dec P 53.4 53.4 13:30 USD Retail Sales Advance M/M Nov 0.40% 0.80% 13:30 USD Retail Sales Ex Auto M/M Nov 0.50% 0.70% 14:15 USD Industrial Production M/M Nov 0.30% 0.10% 14:15 USD Capacity Utilization Nov 78.60% 78.40% 14:45 USD Manufacturing PMI Dec P 55.1 55.3 14:45 USD Services PMI Dec P 55 54.7 15:00 USD Business Inventories Oct 0.50% 0.30%

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