Action Insight Daily Report 7-29-19

Yen Higher as Markets Turn Cautious in a Week of Fed, BoJ, BoE and Important Data

Action Insight Daily Report 7-29-19 Yen Higher as Markets Turn Cautious in a Week of Fed, BoJ, BoE and Important Data Yen opens the week broadly higher, following mild risk aversion in Asian markets. Traders are turning cautious ahead of FOMC rate decision, a string of worldwide economic data, as well as resumption of US-China trade negotiations. Swiss Franc is the second strongest so far while Dollar is the third. On the other hand, commodity currencies are generally lower together with Sterling. The Pound is awaiting more guidance from Prime Minister Boris Johnson on how he's handling Brexit. Technically, GBP/USD's break of 1.2382 suggests decline resumption. Sustained trading below 1.2391 low would confirm medium term down trend resumption for next key level at 1.1946 (2016 low). EUR/USD recovered after breaching 1.1107 low. Subsequent recovery has been weak and focus remain on this key support level. Sustained break will resume down trend from 1.2555. Meanwhile, 0.9951 resistance in USD/CHF and 108.99 in resistance in USD/JPY will also be watched to confirm underlying Dollar strength. In Asia, Nikkei closed down -0.19%. Hong Kong HSI is down -1.49%. China Shanghai SSE is down -0.18%. Singapore Strait Times is down -0.78%. Japan 10-year JGB yield is up 0.006 % -0.144. Full Report Here CBI: Both UK and EU are under-prepared for no-deal Brexit US-China trade negotiations to restart on Tuesday, expectations are low Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol FOMC Preview – Expecting -25 bps Cut From a Divided Fed CFTC Commitments of Traders – Traders Raised Bets for Higher Precious... CFTC Commitments of Traders – Gains in Long Bets Narrowly Outweighed... Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/USD Daily Outlook Daily Pivots: (S1) 1.2353; (P) 1.2406; (R1) 1.2437; More... GBP/USD's break of 1.2382 temporary low suggests fall resumption and intraday bias is back on the downside. Sustained trading below 1.2391 key support will extend larger down trend to 61.8% projection of 1.4376 to 1.2391 from 1.3381 at 1.2154 next. In any case, outlook will remain bearish as long as 1.2522 resistance holds, in case of recovery. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings GBP/USD And EUR/GBP: British Pound Turned Bearish A Cautious Start To Fed Week EUR/USD Remains In Significant Downtrend The Weekly Bottom Line: Summertime and the Policy’s Easy Weekly Economic and Financial Commentary: Strong Consumption Won’t Stop Fed from Cutting Week Ahead: FOMC, BOE and NFP Forward Guidance: Fed Rate Cut to Overshadow Lacklustre Canadian Data Week ahead – Fed, BoJ, and BoE Meet ahead of US Payrolls Fundamental Analysis | Technical Analysis In-depth Reports Japan- Korea Trade Tensions - Removal of Preferential Treatment to Korea Signals Trade Tension Should Escalate ECB: Right Back Where We Started From RBNZ: OCR Limbo... How LowCan It Go? Brexit Update - New PM, Old Challenge RBA to Cut Cash Rate to 0.75% in October & to 0.50% in February A Flashlight for the FOMC Blackout Period Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:50 JPY Retail Trade Y/Y Jun 0.50% 0.20% 1.20% 1.30% 8:30 GBP Mortgage Approvals Jun 66K 65K 8:30 GBP Money Supply M4 M/M Jun 0.20% -0.10%

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!