Action Insight Mid-Day Report 9-13-19

Euro to End Firm as ECB Seen Done with Easing

Action Insight Mid-Day Report 9-13-19 Euro to End Firm as ECB Seen Done with Easing European majors remain generally firm today. In particular, Euro is supported by the view that ECB has done with policy easing after yesterday's stimulus package. Such view is supported by rare open criticism on the measures by ECB officials. Commodity currencies are generally softer together with Dollar. Over the week, Sterling will likely end as the strongest one, followed by Euro, Yen is the weakest, followed by Kiwi and then Canadian. In Europe, FTSE is currently down -0.15%. DAX is up 0.37%. CAC is up 0.21%. Germany 10-year yield is up 0.039 at -0.479. Earlier in Asia, Nikkei rose 1.05%. Hong Kong HSI rose 0.98%. China Shanghai SSE rose 0.75%. Singapore Strait Times rose 0.52%. Japan 10-year JGB yield rose 0.0538 to -0.156. US retail sales rose 0.4% to in August, above expectations of 0.2%. Ex-auto sales, though, rose 0.0% mom, below expectation of 0.1% mom. Import price index dropped -0.5% mom, matched expectations. Full Report Here US retail sales rose 0.4%, but ex-auto sales flat ECB Knot: Stimulus measures announced, in particular QE, is disproportionate to... BusinessNZ manufacturing index recovered to 48.4, still palpable softening in demand Trump prefers a "whole" trade deal with China, but open to... IMF: US-China tariffs could lower 2020 global GDP by -0.8% Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol ECB Cuts Deposit Rate to Historical Low of -0.5%, Resumes QE Both Crude Oil and Gasoline Inventory Fell Last Week China Watch – Tariff Exemption Further Evidenced Weakness in Underlying Economy Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.0964; (P) 1.1026; (R1) 1.1124; More... No change in EUR/USD's outlook as consolidation from 1.0926 is extending. Further rise could be seen but upside should be limited below 1.1164 resistance to bring fall resumption. On the downside, break of 1.0926 will resume lager down trend from 1.2555 for 1.0813 fibonacci level next. However, firm break of 1.1164 will an early indication of larger reversal and target 1.1249 resistance first. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings CHI50 Index Set for More Upside; Strong Resistance Around 14,060 GBP/USD Rallies To Key Resistance Ahead Of US Retail Sales China's Monthly Data Eyed as Aussie Rides Trade Optimism USDCAD Forced Back Below The 200-SMA & 100-SMA NZDUSD Runs Out Of Steam After Snapping 200-SMA ECB Cuts Deposit Rate And Reintroduces QE Program 'Super Mario' Delivers, But Not Enough To Keep Euro Down Risk Sentiment Brightens as ECB Joins Global Easing Bandwagon ECB And Trade Headlines Buoy Investors FOMC Preview: Another Fed Cut Without Pre-Committing To Further Easing Fundamental Analysis | Technical Analysis In-depth Reports ECB: Draghi Delivers in Swan Song to Markets Draghi Delivers "Whatever It Takes" Pledge as Era Ends China Watch - Tariff Exemption Further Evidenced Weakness in Underlying Economy September Flashlight for the FOMC Blackout Period Expect FOMC Rate Cuts in Mar & Jun 2020 Following Sept, Oct & Dec 2019 Decisions Japan's Consumption Tax Hike Unlikely to Help Inflation Much Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 22:30 NZD BusinessNZ Manufacturing PMI Aug 48.4 48.2 48.1 04:30 JPY Industrial Production M/M Jul F 1.30% 1.30% 1.30% 09:00 EUR Eurozone Trade Balance (EUR) Jul 19.0B 17.5B 17.9B 17.7B 12:30 USD Import Price Index M/M Aug -0.50% -0.50% 0.20% 0.10% 12:30 USD Retail Sales Advance M/M Aug 0.40% 0.20% 0.70% 0.80% 12:30 USD Retail Sales Ex Auto M/M Aug 0.00% 0.10% 1.00% 14:00 USD U. of Mich. Sentiment Sep P 90 89.8 14:00 USD Business Inventories Jul 0.30% 0.00%

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