Action Insight Daily Report 6-28-19

Markets Turn Cautious With Eyes on G20, US & Eurozone Inflation

Action Insight Daily Report 6-28-19 Markets Turn Cautious With Eyes on G20, US & Eurozone Inflation Asian markets trade broadly lower today as traders lighten up positions ahead of the highly anticipated Trump-Xi meeting tomorrow. Yen and Swiss Franc are currently the strongest ones as sentiments turn cautious. Nevertheless, both are contained well above recent lows against other majors currencies for now. Directions in other major currencies are not too clear neither. Overall, trading is rather subdued. Trump and Xi are scheduled to meet at 0230 GMT on Saturday. It's believed that some form of agreement is already in place to halt recent escalation in US-China trade war. But nothing is done until it's done. A Trump-Kim style negotiation breakdown cannot be totally ruled out. In addition, to trade, Eurozone CPI and US PCE inflation would be important to gauge the chance of imminent policy easing by ECB and Fed. Canada GDP is also crucial to solidify BoC's neutral stance. These data could provide some volatility for the day. In Asia, Nikkei is down -0.40%. Hong Kong HSI is down -0.56%. China Shanghai SSE is down -0.88%. Singapore Strait Times is down -0.14%. Japan 10-year JGB yield is down -0.0119 at -0.153. Overnight, DOW dropped -0.04%. S&P 500 rose 0.38%. NASDAQ rose 0.73%. 10-year yield dropped -0.044 to 2.005, barely held on to 2.0 handle. Full Report Here BoJ: All policy measures should be considered if baseline scenario changes Trump and Xi seek alliances in G20 sidelines G20: Abe and Xi agreed to promote free and fair trade Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Huge Decline in US Inventory Lifted Crude Oil Price Hong Kong as Bargaining Chip in US-China Trade Talk? HKD's HIBOR Soars, But With Limited Upside Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CHF Daily Outlook Daily Pivots: (S1) 0.9745; (P) 0.9780; (R1) 0.9801; More... USD/CHF weakens mildly today but stays in range above 0.9695 temporary low. Intraday bias remains neutral for more consolidations. Upside of recovery should be limited by 0.9854 support turned resistance to bring fall resumption. On the downside, break of 0.9695 will resume the fall from 1.0237 to 0.9587 fibonacci level. Nevertheless, break of 0.9854 will indicate short term bottoming and target 1.0014 resistance instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Australia: Credit Growth Weak ahead of RBA Rate Cut AUD/USD And NZD/USD Remain In Strong Uptrend USD/JPY Trading Near Make-Or-Break Levels Markets On Tenterhooks As G20 Kicks Off | USD/JPY, CHF/JPY Could Silver Finally Break Out? USDCNH Strictly Capped Below Moving Averages Fundamental Analysis | Technical Analysis In-depth Reports G20 Meeting: Trade Ceasefire Or More Hardball? Trade Tensions Turning Up on US Factory Floor Hong Kong as Bargaining Chip in US-China Trade Talk? HKD's HIBOR Soars, But With Limited Upside Review Of The RBNZ's June OCR Review: Hinting Strongly RBA to Cut in July Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:01 GBP GfK Consumer Confidence Jun -13 -11 -10 23:30 JPY Unemployment Rate May 2.40% 2.40% 2.40% 23:30 JPY Tokyo CPI Core Y/Y Jun 0.90% 1.00% 1.10% 23:50 JPY BoJ Summary of Opinions 23:50 JPY Industrial Production M/M May P 2.30% 0.70% 0.60% 1:30 AUD Private Sector Credit M/M May 0.20% 0.20% 0.20% 5:00 JPY Housing Starts Y/Y May -4.20% -5.70% 6:00 EUR German Import Price Index M/M May -0.20% 0.30% 7:00 CHF KOF Leading Indicator Jun 94.9 94.4 8:30 GBP GDP Q/Q Q1 F 0.50% 0.50% 8:30 GBP Current Account Balance (GBP) Q1 -32.0B -23.7B 9:00 EUR Eurozone CPI Estimate Y/Y Jun 1.20% 1.20% 9:00 EUR Eurozone CPI Core Y/Y Jun A 0.90% 0.80% 12:30 CAD GDP M/M Apr 0.20% 0.50% 12:30 CAD GDP Y/Y Apr 1.50% 1.40% 12:30 CAD Industrial Product Price M/M May 0.00% 0.80% 12:30 CAD Raw Materials Price Index M/M May -3.00% 5.60% 12:30 USD Personal Income May 0.30% 0.50% 12:30 USD Personal Spending May 0.50% 0.30% 12:30 USD Real Personal Spending May 0.40% 0.00% 12:30 USD PCE Deflator M/M May 0.20% 0.30% 12:30 USD PCE Deflator Y/Y May 1.50% 1.50% 12:30 USD PCE Core M/M May 0.20% 0.20% 12:30 USD PCE Core Y/Y May 1.60% 1.60% 13:45 USD Chicago PMI Jun 54 54.2 14:00 USD U. of Mich. Sentiment Jun F 97.9 97.9 14:30 CAD BoC Business Outlook Survey

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 email marketing for free today!