Action Insight Mid-Day Report 2-25-19

Trump Knocks Down Oil Price after Shooting Up Chinese Stocks

Action Insight Mid-Day Report 2-25-19 Trump Knocks Down Oil Price after Shooting Up Chinese Stocks Trump is the biggest market mover in an otherwise rather listless day. Chinese stocks surged 5.6% on news that trade truce deadline on March 1 is postponed. He's now planning a summit in Mar-a-Lago to seal the trade deal with Chinese President Xi Jinping. Later in the day, WTI drops over 2.3% after Trump complains that oil prices are too high with his tweet, and urges OPEC to relax. Canadian Dollar and Yen are racing for the worst performer spot for today. On the other hand, Australian and New Zealand Dollar are taking turns to be the strongest one. But it should be noted that momentum in both currencies are not too convincing yet. AUD/USD is held well below 0.7206 resistance for now. NZD/USD is also kept below 0.6941 resistance. EUR/AUD is also holding well above 1.5743 support. Meanwhile, USD/JPY, EUR/JPY and GBP/JPY are staying in tight range. Traders will need some more time to make up their mind to commit to a direction. In Europe, currently, FTSE is down -0.01%. DAX is up 0.57%. CAC is up 0.36%. German 10-year yield is up 0.0185 at 0.115. Earlier in Asia, Nikkei rose 0.48%. Hong Kong HSI rose 0.50%. China Shanghai SSE rose 5.60%. Singapore Strait Times rose 0.07%. Japan 10-year JGB yield rose 0.0056 to -0.034. Full Report Here Into US session: Canadian Dollar weakest on oil selloff, Yen follows EU still assume UK to leave on March 29 WTI oil dips after Trump urges OPEC to relax China Shanghai SSE targets 3500 in medium after breakaway rally Fed Bostic: Room to run with rate hikes if economy runs... BoE, FCA and CFTC announced measures to ensure continuity of derivatives... Into European Session: China SSE up 5% on trade, AUD &... Japan Hamada: BoJ can drops the 2% inflation target UK delays Brexit vote to Mar 12, EU mulls 21-month extensions Trump delays new tariffs on China, Yuan jumps to 7-month high Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Trade Optimism Boosted Risk Appetite, Dollar and Yen Ended Lower Crude Oil Price's Rally Likely Short-lived. Outlook Dim as Global Growth... FOMC Minutes – Balance Sheet Reduction Likely Ends This Year Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1316; (P) 1.1336; (R1) 1.1355; More..... EUR/USD is still staying in tight range below 1.1371 temporary top and intraday bias remains neutral. On the upside, break of 1.1371 would extend the rebound from 1.1234. In that case, rise from 1.1234 is seen as another leg in the consolidation pattern from 1.1215 and should target 1.1514 resistance. On the downside, break of 1.1275 minor support will turn bias back to the downside for 1.1215 low instead. Decisive break there will confirm completion of consolidation from 1.1215, and resumption of down trend from 1.2555. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings US 30 Index Completes in New 3-Month High; Momentum Indicators Look Overbought EURJPY Set to Complete Symmetrical Triangle EU In Wait-And-See Mode Gold Retreats Within SMAs, Indicators Seem Too Weak Nuclear Week Ahead For Global Markets Theresa May And Donald Trump Lose Oscar For Best Drama USD Weakens As Trump Delays Tariffs Aussie And Chinese Stocks Lifted As Trump Delays Tariff Deadline, Dollar Steady EURUSD Returns Above 1.13 After Finding Obstacle Near 23.6% Fibonacci Chinese Equities Enter A Bull Market On Trade Optimism Fundamental Analysis | Technical Analysis In-depth Reports Westpac expects the RBA to cut the Cash Rate by 25bps in August and November FOMC Minutes - Balance Sheet Reduction Likely Ends This Year The Outlook for the Fed's Balance Sheet: An Update US-China Trade Talks – Likely Extension of Trade Truce also Means Extension of Uncertainty and Market Volatility Gold Rips Higher Amid a Quiet Flight to Safety Three important risks to know about crude oil Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 21:45 NZD Retail Sales Ex Inflation Q/Q Q4 1.70% 0.50% 0.00% 0.30% 21:45 NZD Retail Sales Core Q/Q Q4 2.00% 0.80% 0.40% 0.70% 23:50 JPY Corporate Service Price Y/Y Jan 1.10% 1.10% 1.10% 15:00 USD Wholesale Inventories M/M Dec P 0.30% 0.30%

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