Action Insight Daily Report 9-30-19

Sentiments Weighed Down by Risk of US-China Financial Decoupling, Kiwi Falls on Business Confidence

Action Insight Daily Report 9-30-19 Sentiments Weighed Down by Risk of US-China Financial Decoupling, Kiwi Falls on Business Confidence The markets are trading in mild risk averse mode ahead of quarter end. There are some worries of financial decoupling of US and China even though it's just at very preliminary stage. But selloff is limited with support from improvements in Chinese PMIs. Yen is trading generally firmer. On the other hand, New Zealand Dollar is additionally pressured by its own poor business confidence data, followed by Australian as second weakest. Dollar is mixed for now, awaiting some important data in the week ahead. Technically, Sterling's weakness will be a focus today. GBP/USD is pressing 1.2283 support while GBP/JPY is pressing 132.17 support. Break of these level will pave the way to 1.1958 and 126.54 lows respectively. Australian Dollar will also be an interesting one to watch ahead of tomorrow's RBA rate cut. AUD/USD is on track to retest 0.6677 low as long as 0.6806 minor resistance holds. EUR/AUD is also in favor to break through 1.6301 to 1.6786, as long as 1.6128 minor support holds. In Asia, Nikkei is currently down -0.79%. Hong Kong HSI is up 0.70%. China Shanghai SSE is down -0.16%. Singapore Strait Times is down -0.21%. Japan 10-year JGB yield is up 0.0178 at -0.216. Full Report Here New Zealand business confidence dropped -53.5, no impact from RBNZ's rate... China manufacturing PMIs improved, but trade uncertainties still weigh BoJ: Not reached an impasse on monetary policy measures US Treasury: Not contemplating blocking Chinese companies from listing at this... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Sentiment Improves amidst Expectations of Trade... CFTC Commitments of Traders – Crude Oil Price Slumps as Middle... Sterling and Euro Broadly Pressured, Dollar Mixed Awaiting Trade Talks Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Outlook Daily Pivots: (S1) 0.6746; (P) 0.6763; (R1) 0.6781; More... With 0.6806 minor resistance intact, further decline is expected in AUD/USD. Corrective rise from 0.6677 should have completed with three waves up to 0.6984. Firm break of 0.6677 will resume larger down trend. On the upside, above 0.6806 will bring recovery. But in any case, risk will stay on the downside as long as 0.6894 resistance holds. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Australian Private Credit August 2019 GBP/USD And EUR/GBP: British Pound In Corrextive Decrease EUR/USD Remains In Downtrend Below 1.1000 Asia Morning: China Holidays Make For A Tricky Week EURUSD Retains Its Medium Term Downtrend USDCHF Consolidates But With Upside Bias Weekly Economic and Financial Commentary: One More Ball to Juggle The Weekly Bottom Line: Political Risks Heighten Economic Uncertainty US Dollar Mixed on Trade Optimism and Impeachment News Week Ahead: US-China Trade Talks Could Overshadow RBA, NFP Low Blows and Sterling Lows Impeachment Drama Stirs the Pot in Washington, D.C. Forward Guidance: Service Sector Spillover? NotJust Yet Week Ahead – RBA Expected to Cut Again; US Jobs Report and September PMIs in Focus Too China Weekly Letter – October Trade Talks on Track But Tensions Still Run High Fundamental Analysis | Technical Analysis In-depth Reports Impeachment Drama Stirs the Pot in Washington, D.C. Case for Cut by RBA Still Strong Despite More Opaque Conclusion in Governor's Speech A US-Iran War Would Trigger A Global Recession Oil 'Supply Shock' in Context Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 21:45 NZD Building Permits M/M Aug 0.80% -2.70% -1.30% 23:50 JPY BoJ Summary of Opinions 23:50 JPY Industrial Production M/M Aug P -1.20% -0.50% 1.30% 23:50 JPY Retail Trade Y/Y Aug 2.00% 0.90% -2.00% 0:00 NZD ANZ Business Confidence Sep -53.5 -58.5 -52.3 1:00 CNY Manufacturing PMI Sep 49.8 49.7 49.5 1:00 CNY Non-Manufacturing PMI Sep 53.7 54.2 53.8 1:30 AUD Private Sector Credit M/M Aug 0.20% 0.30% 0.20% 1:45 CNY Caixin Manufacturing PMI Sep 51.4 50.2 50.4 5:00 JPY Housing Starts Y/Y Aug -7.10% -6.10% -4.10% 6:00 EUR Germany Retail Sales M/M Aug 0.60% -2.20% 7:00 CHF KOF Leading Indicator Sep 94.5 97 7:55 EUR Germany Unemployment Change Sep 4K 4K 7:55 EUR Germany Unemployment Rate Sep 5% 5% 8:30 GBP Net Lending to Individuals (GBP) M/M Aug 5.1B 5.5B 8:30 GBP GDP Q/Q Q2 F -0.20% -0.20% 8:30 GBP Mortgage Approvals Aug 67K 67K 8:30 GBP M4 Money Supply M/M Aug 0.40% 0.70% 8:30 GBP M4 Money Supply Y/Y Aug 2.70% 8:30 GBP Current Account (GBP) Q2 -19.2B -30.0B 9:00 EUR Unemployment Rate Aug 7.50% 7.50% 12:00 EUR Germany CPI M/M Sep P -0.20% 12:00 EUR Germany CPI Y/Y Sep P 1.40% 1.40% 12:30 CAD Industrial Product Price M/M Aug -0.20% -0.30% 12:30 CAD Raw Material Price Index Aug 1.30% 1.20% 13:45 USD Chicago PMI Sep 50.5 50.4

Action Forex Company Limited | Room 804, 8/F. , Prosperity Centre, 982 Canton Road, Mongkok, Kowloon 852 Hong Kong SAR China Unsubscribe mondemand.forex@blogger.com Update Profile | About Constant Contact Sent by contact@actionforex.com in collaboration with Try email marketing for free today!