Action Insight Daily Report 9-6-19

Markets Remains Risk On as Focus Turns to Non-Farm Payrolls

Action Insight Daily Report 9-6-19 Markets Remains Risk On as Focus Turns to Non-Farm Payrolls The financial markets remain in risk on mode today. Yen, Swiss Franc and Dollar continue to feel tremendous selling pressure. Meanwhile, commodity currencies are generally the strongest. Euro and Sterling are mixed for now as it's still unsure where Brexit uncertainty is heading to. The common currency's rally attempt is also capped by poor economic data from Germany. Trade optimism underpin investor confidence and focus will turn to job report from the US today. Technically, EUR/GBP is now sitting in an important zone of 0.8891/9051 and we'd still expect this zone to hold and bring rebound. However, sustained break of 0.8891 will suggest reversal for deeper fall to 0.8797 fibonacci level and below. AUD/USD is still struggling around 0.6822 resistance for now. Firm break will extend the rebound from 0.6677 towards 0.6910 support turned resistance. However, rejection by 0.6677 will retain near term bearishness for another low below 0.6677. In Asia, Nikkei closed up 0.54%. Hong Kong HSI is up 0.29%. China Shanghai SSE is up 0.13%. Singapore Strait Times is up 0.12%. Japan 10-year JGB yield is up 0.02389 at -0.242. Overnight, DOW rose 1.41%. S&P 500 rose 1.30%. NASDAQ rose 1.75%. 10-year yield rose 0.106 to 1.565. Full Report Here Solid NFP expected as markets weigh chance of another Fed cut German industrial production dropped -0.6% mom, below expectation of 0.3% mom BoJ Kuroda doesn't rule out deeper negative interest rate Australia AiG construction index recovered to 44.6, slower contraction Merkel: Germany welcomes Chinese investment but there are checks in some... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol US Oil Inventory Fell Further, In Contrast with API's Forecast BOC Sounds Less Dovish than Expected, as Housing Market and Wage... RBA Left Rate Unchanged, More Flexible on Future Policy Decision Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Outlook Daily Pivots: (S1) 0.6795; (P) 0.6813; (R1) 0.6831; More... Focus remains on 0.6822 resistance in AUD/USD. Decisive break will resume rebound from 0.6677. Intraday bias will be turned back to the upside for 0.6910 support turned resistance. Though, rejection by 0.6822 resistance will maintain near term bearishness. Break of 0.6677 will extend larger down trend to 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Cliff Notes: GDP Growth Retreats to Post-GFC Low Brexit Monitor: Election May Lead Us To The Brexit End Game (But Not Necessarily) Index Pairs Matrix | Ratio Performance At A Glance GOLD Price Trimming Gains But Crude Oil Price Remains Supported USD/JPY Gaining Bullish Momentum, US NFP Report Next This Nonfarm Payrolls Report Could Help Sway The Fed To An Easing Cycle AUD/USD Continues Its Impressive Rally NFP Preview: Another Solid Report on Tap? Fundamental Analysis | Technical Analysis In-depth Reports BOC Sounds Less Dovish than Expected, as Housing Market and Wage Growth Improve Brexit Monitor: Election May Lead Us To The Brexit End Game (But Not Necessarily) RBA Left Rate Unchanged, More Flexible on Future Policy Decision RBA Board Leaves Rates on Hold; Slightly More Downbeat; October the Likely Next Step Japan's Consumption Tax Hike Unlikely to Help Inflation Much Can Monetary and Fiscal Stimulus Save the Global Economy from Trump's Trade War? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 22:30 AUD AiG Performance of Construction Index Aug 44.6 39.1 23:30 JPY Overall Household Spending Y/Y Jul 0.80% 0.90% 2.70% 23:30 JPY Labor Cash Earnings Y/Y Jul -0.30% 0.10% 0.40% 5:00 JPY Leading Index Jul P 93.6 93.2 93.3 6:00 EUR German Industrial Production M/M Jul -0.60% 0.30% -1.50% -1.10% 7:00 CHF Foreign Currency Reserves (CHF) Aug 768B 9:00 EUR Eurozone Employment Q/Q Q2 F 0.20% 0.20% 9:00 EUR Eurozone GDP Q/Q Q2 F 0.20% 0.20% 12:30 CAD Net Change in Employment Aug 12.5K -24.2K 12:30 CAD Unemployment Rate Aug 5.70% 12:30 USD Change in Non-farm Payrolls Aug 162K 164K 12:30 USD Unemployment Rate Aug 3.70% 3.70% 12:30 USD Average Hourly Earnings M/M Aug 0.30% 0.30% 14:00 CAD Ivey PMI Aug 55.2 54.2

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