Action Insight Mid-Day Report 6-12-19

Dollar Survives Slight US CPI Miss, But No Turnaround Yet

Action Insight Mid-Day Report 6-12-19 Dollar Survives Slight US CPI Miss, But No Turnaround Yet The forex markets are rather mixed today. Dollar suffered very brief selling after CPI miss. But the greenback quickly regains footing as the readings are not bad enough to push Fed for a cut. For now, Sterling is the strongest one for today, followed by Yen and then Dollar. Swiss Franc is the weakest, followed by Aussie and then Kiwi. There is no clear theme for the moment. Technically, EUR/USD's failure to take out 1.1347 temporary top suggests more consolidative trading could be seen for now. Though, further rise is expected with 1.1251 minor support holds. Also, near term outlook in USD/CHF, USD/JPY and USD/CAD remains bearish with 1.0008, 109.02 and 1.3363 resistance levels intact respectively. MO re downside remains in favor in Dollar, except versus Aussie. In Europe, currently, FTSE is down -0.70%. DAX is down -0.37%. CAC is down -0.66%. German 10-year yield is down -0.0007 at -0.231. Earlier in Asia, Nikkei dropped -0.35%. Hong Kong HSI dropped -1.73%. China Shanghai SSE dropped -0.56%. Singapore Strait Times dropped -0.06%. Japan 10-year JGB yield dropped -0.0006 to -0.111. Full Report Here US CPI slowed to 1.8%, core CPI to 2.0%, but Dollar... EU Moscovici wants credible path from Italy EU said no-deal Brexit very much remains a possible, although undesirable,... ECB Draghi: CEE economies disproportionately affected by global trade headwinds ECB de Galhau: ECB can do more if slowdown becomes a... Gold's retreat contained by 1319.9 support, maintains bullish outlook RBA rate cuts failed to lift consumer sentiments, AUD/JPY vulnerable Trump tells China: Go back to that deal or I have... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Closer Look at China's Trade Data Reveals that Trade War is... CFTC Commitments of Traders – USD to Weaken Further as Rate... CFTC Commitments of Traders – Energy Prices Weakened Further on Gloomy... Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1305; (P) 1.1321; (R1) 1.1342; More...... Intraday bias in EUR/USD remains neutral as consolidation from 1.1347 is extending with another falling leg. With 1.1251 minor support intact, further rise is mildly in favor. On the upside, above 1.1347 will target 1.1448 key resistance next. Decisive break there will carry larger bullish implications. On the downside, break of 1.1251 minor support will suggest that recovery from 1.1107 has completed. Intraday bias will be turned back to the downside for retesting 1.1107 low. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Stable Inflation Gives Fed Flexibility to Respond to Trade Risks USDMXN Holds in Ichimoku Cloud after Negative Gap Sterling Tunes in to Boris Speech Chaotic Protests Grow In Hong Kong, Hang Seng Tumbles US-China Trade Concerns Resurface Ahead Of US CPI FTSE Lower As Protests, Wall Street Weigh EUR/USD Gaining Momentum While USD/CHF Is Recovering Featured Trade: Nasdaq 100 Bulls Under Attack Bears Circle GBP/JPY For Another Shot At The Lows EURJPY Eases Below 3-Week High In Short Term Demonstrations And HKD Rally Risk Appetite Recedes As Global Trade Developments Drag On Dollar Drifts Lower Ahead Of US Inflation Data, Euro Edges Up On Trump Tweet AU Employment In Full Focus For AUD Traders Tomorrow EURGBP Rally Goes On, Focus On 0.8935 Key Resistance Fundamental Analysis | Technical Analysis In-depth Reports Australian Dollar: Recent Stability to Give Way, AUD to Fall to 66¢ in 2020 Closer Look at China's Trade Data Reveals that Trade War is Eating Into Economy Threat of Dumping US Treasury Signals China is Running Out of Weapons in Trade War ECB Not Delivering to Market Expectations Fed: Dovish Policy Signal To Pave The Way For An Upcoming Insurance Cut 1990's Reloaded? Clues On The Fed's Path To "Insurance Cuts" Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:50 JPY Domestic CGPI Y/Y May 0.70% 0.70% 1.20% 1.30% 23:50 JPY Machine Orders M/M Apr 5.20% -0.80% 3.80% 00:30 AUD Westpac Consumer Confidence Jun -0.60% 0.60% 01:30 CNY CPI Y/Y May 2.70% 2.70% 2.50% 01:30 CNY PPI Y/Y May 0.60% 0.60% 0.90% 12:30 USD CPI M/M May 0.10% 0.10% 0.30% 12:30 USD CPI Y/Y May 1.80% 1.90% 2.00% 12:30 USD CPI Core M/M May 0.10% 0.20% 0.10% 12:30 USD CPI Core Y/Y May 2.00% 2.10% 2.10% 14:30 USD Crude Oil Inventories -1.0M 6.8M

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