Action Insight Daily Report 9-20-19

Sterling Surges as EU Juncker said a Brexit Deal is Possible by Oct 31

Action Insight Daily Report 9-20-19 Sterling Surges as EU Juncker said a Brexit Deal is Possible by Oct 31 Sterling rises broadly today on optimism that a Brexit deal could finally be reached by the end of next month. For now, Swiss Franc and Yen are following as next strongest. On the other hand, Dollar turns soft as post-FOMC lift continued to fade, followed by New Zealand Dollar and than Canadian. For the week, the Pound is currently the strongest one, followed by Yen and then Canadian. Kiwi is the weakest, followed by Aussie. Technically, GBP/USD takes out 1.2502 fibonacci level solidly and should target next level at 1.2837. GBP/JPY might finally make up its mind through 135.07 fibonacci level to 140.33. EUR/GBP's decline from 0.9324 is in progress for next key support at 0.8472. In Asia, Nikkei rose 0.16%. Hong Kong HSI is flat. China Shanghai SSE is up 0.10%. Singapore Strait Times is up 0.05%. Japan 10-year JGB yield is up 0.0066 at -0.219. Overnight, DOW dropped -0.19%. S&P 500 closed flat. NASDAQ rose 0.07%. 10-year yield dropped -0.012 to 1.774. Full Report Here EU Juncker said Brexit deal could be reached by Oct 31 Japan CPI core slowed to 0.5%, further away from BoJ's target Lagarde: Fragile global growth under threat Chinese officials to visit US farms next week to build good... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol BOE Stays Put But Warns of the Market Volatility in Case... SNB Raises Exemption Threshold for Negative Rate; CHF Rises on No... FOMC Cut Rate by -25 bps. Third Cut Still Possible Despite... Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/USD Daily Outlook Daily Pivots: (S1) 1.2455; (P) 1.2507; (R1) 1.2577; More.... GBP/USD's rally resumes after brief consolidations and hits as high as 1.2582 so far. Intraday bias is back on the upside. With 38.2% retracement of 1.3381 to 1.1958 at 1.2502 firmly taken out, next target is 61.8% retracement at 1.2837. On the downside, below 1.2438 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings The Dollar Is Losing Some Momentum Market Brief: Juncker Lifts Sterling, CB Stimulus Support Stocks Cliff Notes: With the Risks in Mind USD Set To Correct? GOLD Price And Crude Oil Price Approaching Resistance AUD/USD Trimming Gains, Can It Bounce Back?   Fundamental Analysis | Technical Analysis In-depth Reports Fed Cuts Rates 25 Bps. Is Further Easing On The Way? FOMC Cut Rate by -25 bps. Third Cut Still Possible Despite Sounding Less Dovish Moody's and Fitch's Downgrade Hong Kong on Concerns about Closer Link with China A US-Iran War Would Trigger A Global Recession RBA Minutes Repeat Key Themes - Case for an October Cut Still Intact Oil 'Supply Shock' in Context Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:30 JPY National CPI Core Y/Y Aug 0.50% 0.50% 0.60% 06:00 EUR German PPI M/M Aug -0.50% 0.00% 0.10% 06:00 EUR German PPI Y/Y Aug 0.30% 0.60% 1.10% 12:30 CAD Retail Sales M/M Jul 0.40% 0.00% 12:30 CAD Retail Sales Ex Auto M/M Jul 0.20% 0.90% 14:00 EUR Eurozone Consumer Confidence Sep A -7.2 -7.1

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