Action Insight Mid-Day Report 12-4-18

Dollar Broadly Lower as 10 Year Yield Breaks Below 3%

Action Insight Mid-Day Report 12-4-18 Dollar Broadly Lower as 10 Year Yield Breaks Below 3% Dollar is under broad based selling pressure on falling treasury yields, globally. In particular, 10 year yield drops below 3% level for the first time since September. Canadian Dollar and Swiss Franc are following as the next weakest. On the other hand, return to risk aversion and falling global yields pop up Yen as the strongest. Sterling follows as second strongest, lifted by news that it could get a "get of of jail" card for revoking Brexit unilaterally. In the bond markets, US 10 year yields hits as low as 2.962 in early trading, back below 3%. German 10 year bund yield is trading down -0.015 at 0.293, below 0.3 handle for the first time since July. Japan 10 year JGB dropped -0.014 to 0.069, lowest since July too. In other markets, at the time of writing, FTSE is down -0.51%, DAX is down -0.53%, CAC is down -0.35%. DOW futures point to slightly lower open. Earlier in Asia, Nikkei dropped -538.71 pts or -2.39% to 22036.05. Singapore Strait Times dropped -0.72% to 3167.79. But Hong Kong HSI rose 0.29% to 27260.44. China Shanghai SSE rose 0.425 to 2665.95 Technically, Sterling's rebound today after breaching near term support suggests that it's not ready to resume recent down trend yet. The keys to watch for the rest of today are EUR/USD and USD/CHF. EUR/USD is in range of 1.1267/1472. USD/CHF is in range of 0.9908/1.0006. Break out of the ranges would reveal the broad direction in Dollar. Full Report Here Into US session: Sterling rebounds but Yen still stronges, Dollar broadly... BoE Carney: Brexit worst-case scenarios were low-probability events UK PMI construction rose to 53.4, job accelerates with upward pressure... ECJ advocate general said UK can withdraw Brexit unilaterally Italian PM Conte to submit new budget with lower deficit target,... Lighthizer to lead US-China trade talk, strong sign of readiness for... Eurogroup urged Italy to comply to EU budget rules Aussie steady after RBA stands pat at 1.50%, reactions muted Quick Comments Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol BOC Preview: Will Poloz Maintain Hawkish Stance?   RBA More Concerned about Housing Markets, Disinflation Likely Keeps Policy Rate...   US-China Trade Ceasefire: Too Early to be Relieved   Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/JPY Mid-Day Outlook Daily Pivots: (S1) 113.40; (P) 113.61; (R1) 113.86; More.. Intraday bias in USD/JPY remains on the downside as fall from 114.03 is in progress for 112.30. Break there will target 111.37 and below. On the upside, above 113.18 minor resistance will turn intraday bias neutral first. And, break of 114.03 will resume the rise from 111.37 to 114.73 resistance. Overall, price actions from 114.54 are seen as a consolidation pattern. Hence, even in case of deep decline, downside should be contained by 38.2% retracement of 104.62 to 114.54 at 110.75 to bring rebound. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings EURGBP Remains Neutral in Short and Long Term Deal or No Deal: Trade Ceasefire Between U.S. and China Full of Promises EUR/USD Breaks Out As Fed Turns Marginally Less Hawkish Relative To ECB Sterling Rises On Get Out Of Jail Card Loonie Turns Its Gaze To BoC Decision And OPEC Meeting Inverted Yield Curve Curbing Risk Appetite? WTI Futures Gain Some Ground, SMAs Create Bullish Crossover EURAUD Drops To 6-Month Lows, But Downfall Looks Overstretched May's Government Under Trouble Fundamental Analysis | Technical Analysis In-depth Reports RBA Keeps Cash Rate on hold; Cites Risks around Trade but Confirms Strong Growth Outlook RBA More Concerned about Housing Markets, Disinflation Likely Keeps Policy Rate Unchanged for 2019 US-China Trade: Ceasefire Paves the Way for the Real Deal in 2019 US-China Trade Ceasefire: Too Early to be Relieved Deal or No Deal: Trade Ceasefire Between U.S. and China Full of Promises What's Next for Italy's Budget? Whither Bitcoin? A Review of Past Cycles for the World's Oldest Cryptocurrency OPEC+: To Cut or Not to Cut? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:50 JPY Monetary Base Y/Y Nov 6.10% 5.70% 5.90% 00:01 GBP BRC Retail Sales Monitor Y/Y Nov -0.50% 0.10% 00:30 AUD Current Account Balance (AUD) Q3 -10.7 -10.2B -13.5B -12.1B 03:30 AUD RBA Rate Decision 1.50% 1.50% 1.50% 08:15 CHF CPI M/M Nov -0.30% -0.10% 0.20% 08:15 CHF CPI Y/Y Nov 0.90% 1.10% 1.10% 09:30 GBP Construction PMI Nov 53.4 52.5 53.2 10:00 EUR Eurozone PPI M/M Oct 0.80% 0.40% 0.50% 0.60% 10:00 EUR Eurozone PPI Y/Y Oct 4.90% 4.50% 4.50% 4.60% 13:30 CAD Labor Productivity Q/Q Q3 0.30% 0.40% 0.70%

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