Action Insight Mid-Day Report 6-14-19

Dollar Rises Broadly on Retail Sales and Industrial Production

Action Insight Mid-Day Report 6-14-19 Dollar Rises Broadly on Retail Sales and Industrial Production Dollar jumps broadly in early US session after solid gain in retail sales in May, with upward revision in April figures. Yen is following as the second strongest on risk aversion, followed by Canadian Dollar. Geopolitical tensions heightened after US blame Iran for attacks on oil tankers yesterday. New Zealand Dollar is currently the weakest one, as pressured by poor manufacturing PMI. Australian Dollar is the second weakest, followed by Sterling. Technically, EUR/USD's break of 1.1251 minor support suggests that recovery from 1.1107 has completed. And more decline could be seen back to retest 1.1107 low. This follows the break of 122.10 support in EUR/JPY earlier today, which indicates completion of recovery from1 20.78. Focus is now firstly on 136.55 support in GBP/JPY for indicating decline resumption. Nevertheless, USD/JPY looks safe for now with today's recovery. In Europe, FTSE is currently down -0.43%. DAX is down -0.54%. CAC is down -0.26%. German 10-year yield is down -0.005 at -0.244. Earlier in Asia, Nikkei rose 0.40%. Hong Kong HSI dropped -0.65%. China Shanghai SSE dropped -0.99%. Singapore Strait Times rose 0.06%. Japan 10-year JGB yield dropped -0.0154 to -0.125. Full Report Here US retail sales rose 0.5%, ex-auto sales rose 0.5%, EUR/USD dives ECB Draghi: Policy has neutral effect of bank profitability, lower-income households... Gold breaks key resistance as up trend resumes finally New Zealand Manufacturing PMI dropped to 50.2, lowest since 2012, downside... 661 US Companies and Associations urged Trump to avoid tariff escalation Euro's international role recovered in period of trade tensions and protracted... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol SNB Maintained Pledge to Intervene FX Market if SNF Too Strong.... US Inventory Increased for Another Week as Economic Outlook Remains Hazy Closer Look at China's Trade Data Reveals that Trade War is... Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1259; (P) 1.1282; (R1) 1.1299; More...... EUR/USD's break of 1.1251 minor support indicates completion of rebound from 1.1107 at 1.1347. Intraday bias is turned to the downside for retesting 1.1107 first. But decisive break there is needed to confirm resumption of larger down trend from 1.2555. Otherwise, more consolidation from 1.1107 might still extend further. On the upside, above 1.1289 minor resistance will turn intraday bias neutral first. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings WTI Crude – Rally Fades On IEA Warning Recession Concerns Underpin Bonds, Gold And Yen EURAUD Tries To Jump Above Ascending Channel, Strongly Positive Markets Hit By Caution Ahead Of US Retail Sales Data Oil, Asian Data And Protests Weigh On FTSE Why Investors Should Not Be Bullish On Oil Prices US 500 Stock Index May Chart Another Pick Up Cliff Notes: Conditions for Australian Business and Consumers Remain Challenging Middle East Tension Rises as US Blames Iran Oil, Gold Up On Middle East Tensions, Dollar Steady Ahead Of US Retail Sales USDCAD Bulls Return Into Play, Remains Beneath Uptrend Line 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 22:30 NZD BusinessNZ Manufacturing PMI May 50.2 53 52.7 04:30 JPY Industrial Production M/M Apr F 0.60% 0.60% 0.60% 07:00 CNY Fixed Assets Ex Rural YTD Y/Y May 5.60% 6.10% 6.10% 07:00 CNY Industrial Production Y/Y May 5.00% 5.40% 5.40% 07:00 CNY Retail Sales Y/Y May 8.60% 8.00% 7.20% 07:00 CNY Surveyed Jobless Rate May 5.00% 5.00% 12:30 USD Retail Sales Advance M/M May 0.50% 0.70% -0.20% 0.30% 12:30 USD Retail Sales Ex Auto M/M May 0.50% 0.40% 0.10% 0.50% 13:15 USD Industrial Production M/M May 0.40% 0.20% -0.50% -0.40% 13:15 USD Capacity Utilization May 78.10% 78.00% 77.90% 14:00 USD U. of Mich. Sentiment Jun P 98 100 14:00 USD Business Inventories Apr 0.40% 0.00%

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