Action Insight Mid-Day Report 6-13-19

Swiss Franc Lifted by Attacks on Oil Tankers, Shrugs SNB

Action Insight Mid-Day Report 6-13-19 Swiss Franc Lifted by Attacks on Oil Tankers, Shrugs SNB Attacks on two oil tankers in the Gulf of Oman is the biggest news in early US session. WTI oil price is up 3.5% and is back pressing 53 handle after dipping to 50.85 yesterday. The news is both supportive Swiss Franc and Canadian Dollar, which are currently the two strongest ones for today so far. Australian Dollar remains the weakest one as weak details in the job report affirms RBA's path for rate cuts this year. New Zealand Dollar follows as second weakest. Technically, notable weakness is seen in Euro today. But at this point, EUR/USD is holding above 1.2510 minor support. EUR/JPY stays above 122.10 minor support. EUR/GBP is kept well above 0.8829 minor support. There is not clear sign of topping in the resilient Euro yet. Yen attempted to rally early today but retreated with risk aversion. USD/JPY and GBP/JPY will likely stay in consolidation for a while longer. In other markets, DOW open mildly higher today and is currently trading up 0.44%. 10-year yield, however, ids down -0.0079 at 2.11. In Europe, FTSE is currently up 0.07%. DAX is up 0.52%. CAC is up 0.09%. German 10-year yield is down -0.0059 % -0.243. Earlier in Asia, Nikkei dropped -0.46%. Hong Kong HSI dropped -0.05%. China Shanghai SSE rose 0.05%. Singapore Strait Times rose 0.40%. Japan 10-year JGB yield rose 0.0004 to -0.111. Full Report Here US initial jobless claims rose 3k to 222k, import price dropped... Into US session: AUD stays weakest on RBA cut bets, CAD... Italy Tria insists no additional measures needed on budget Eurozone industrial production dropped -0.5% in April German government: Subdued economy with first signs of labor market slowdown SNB Jordan: Swiss Franc and Yen appreciated as safe havens as... SNB kept policy rate at -0.75%, global risks more pronounced Australia unemployment rate unchanged at 5.2%, AUD/JPY downside breakout UK RICS house price balance rose to -10, but anecdotal insight... Fed will hold interest rates this year according to consensus of... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol US Inventory Increased for Another Week as Economic Outlook Remains Hazy Closer Look at China's Trade Data Reveals that Trade War is... CFTC Commitments of Traders – USD to Weaken Further as Rate... Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9919; (P) 0.9940; (R1) 0.9976; More... USD/CHF weakens mildly today but stays well inside consolidation for 0.9852. Intraday bias remains neutral at this point. In case of another recovery, upside should be limited by 1.0008 support turned resistance and bring fall resumption. On the downside, break of 0.9854 will extend the decline from 1.0237 to 0.9716 cluster support (50% retracement of 0.9186 to 1.0237 at 0.9712). Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings US Dollar Index Rebounds on Ascending Line; Gains are Expected EURCHF Eases in Downward Sloping Channel; Negative Overall Stocks Stabilize as Markets Await Trade and Hong Kong Developments; Oil Surges on Tanker Attacks in Middle East USD/CAD Drops As Crude Oil Rallies NZDUSD Lacks Direction In The Very Short-Term SNB Maintains Expansionary Policy As Expected GBPJPY Consolidates Rebound, Indicators Trend Up Yen Up On Trade Deal Pessimism, Pound Down On Failed Bid To Block No-Deal Brexit USDJPY Hovers Below 109, Descending Channel Holds In Near Term Fundamental Analysis | Technical Analysis In-depth Reports Trade War Profit Pressure: Which Industries Are Most at Risk? 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 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 23:01 GBP RICS House Price Balance May -10.00% -21.00% -23.00% -22.00% 23:50 JPY BSI Large Manufacturing Q/Q Q2 -10.4 4.5 -7.3 01:00 AUD Consumer Inflation Expectation Jun 3.30% 3.30% 01:30 AUD Employment Change May 42.3k 16.0k 28.4k 43.1k 01:30 AUD Unemployment Rate May 5.20% 5.10% 5.20% 04:30 JPY Tertiary Industry Index M/M Apr 0.80% 0.40% -0.40% 06:00 EUR German CPI M/M May F 0.20% 0.20% 0.20% 06:00 EUR German CPI Y/Y May F 1.40% 1.40% 1.40% 06:30 CHF Producer & Import Prices M/M May 0.00% 0.10% 0.00% 06:30 CHF Producer & Import Prices Y/Y May -0.80% -0.70% -0.60% 07:30 CHF SNB Sight Deposit Interest Rate -0.75% -0.75% -0.75% 07:30 CHF SNB 3-Month Libor Lower Target Range -1.25% -1.25% -1.25% 07:30 CHF SNB 3-Month Libor Upper Target Range -0.25% -0.25% -0.25% 09:00 EUR Eurozone Industrial Production M/M Apr -0.5 -0.50% -0.30% -0.40% 12:30 CAD New Housing Price Index M/M Apr 0.00% 0.00% 0.00% 12:30 USD Import Price Index M/M May -0.30% -0.30% 0.20% 0.10% 12:30 USD Initial Jobless Claims (JUN 8) 222K 215K 218K 219K 14:30 USD Natural Gas Storage 110B 119B

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