Action Insight Mid-Day Report 7-22-19

Dollar Lacks Direction While US-China Trade Meeting Said to Resume

Action Insight Mid-Day Report 7-22-19 Dollar Lacks Direction While US-China Trade Meeting Said to Resume The forex markets are generally mixed today in rather quiet trading. Dollar lacks a clear direction despite rumors that US and China trade teams are going finally meet to resume negotiations. Canadian Dollar is currently the weakest one, followed by Sterling, and then Yen. On the other hand, New Zealand Dollar is leading Australian higher. Yet, risk appetite is not too apparent in other financial markets. Technically, Sterling weakens again today, ahead of near term resistance against both Euro and Dollar. The case of bullish reversal is not happening yet. EUR/USD and USD/CAD are stuck in familiar range for now. Should Dollar strengthens in US session, 1.1193 support in EUR/USD and 1.3143 in USD/CAD will be the focuses. In other markets, US stocks open mildly higher with DOW up 0.15% at the time of writing. In Europe, FTSE is up 0.21%. DAX is up 0.44%. CAC is up 0.21%. German 10-year yield is down -0.0143 at -0.335. Earlier in Asia, Nikkei dropped -0.23%. Hong Kong HSI dropped -1.37%. China Shanghai SSE dropped -1.27%. Singapore Strait Times dropped -0.61%. Japan 10-year JGB yield rose 0.0005 to -0.135. Full Report Here US trade delegation said to visit China for negotiations next week EU ready to work with any new UK PM NIESR: 25% chance UK in technical recession already, 40% chance of... Most economists expect RBA to stand pat in August Japan Abe pledges to take more aggressive and bold economic measures... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Traders Trimmed Bets on USD as... CFTC Commitments of Traders – Net Length for Crude Oil Futures... Sterling Might Bottom While Euro Would Stay Pressured, Dollar Indecisive Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1189; (P) 1.1235; (R1) 1.1268; More... Intraday bias in EUR/USD remains neutral for the moment as it's staying in range of 1.1193/1285. On the downside, break of 1.1193 will resume the fall from 1.1412 to retest 1.1107 low. On the upside, above 1.1285 resistance will turn bias back to the upside for 1.1412 resistance. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings EUR/USD In Focus Ahead Of ECB And FOMC European Update – Earnings, Fed, Gold, UK, Oil EURAUD Hands On With The 200-SMA, Joined By The Uptrend Line No Summer Lull Just Yet GBP/USD And USD/CAD Showing Positive Signs Iran Tensions Rattle Stocks, Boost Oil Gold Bulls Pause Rally At Fresh 6-Year Highs Why Bear Case Is Strong For The Next Two Weeks Market Sentiment Hit By Fed Miscommunication EURUSD Hovers Near 1.1200, Maintains Weak Bias In Near Term Fundamental Analysis | Technical Analysis In-depth Reports RBA's Big Challenge with Unemployment Slow Growth, Low Inflation: What's the ECB to Do? Slow Growth, Low Inflation: What's the ECB to Do? What's Next for Sterling as Britain Flirts with a No-Deal Brexit? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 12:30 CAD Wholesale Trade Sales M/M May -1.80% 0.50% 1.70% 1.60%

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