Action Insight Mid-Day Report 9-18-19

Markets in Tight Range and Fed Rate Cut Awaited

Action Insight Mid-Day Report 9-18-19 Markets in Tight Range and Fed Rate Cut Awaited The forex markets are generally stuck in very tight range today, as markets await Fed's rate cut. Dollar is the stronger one as followed by Canadian and Yen. Australian Dollar is the weakest one so far. Sterling follows as second weakest after lower than expected consumer inflation reading. New Zealand Dollar is the third weakest. Technically, there are a couple of levels to watch to gauge if Dollar is staging a broad based rally. Those levels include 0.9975 in USD/CHF, 109.31 in USD/JPY, 1.2283 in GBP/USD and 0.6807 in AUD/USD. On the other hand, in case of risk aversion, 107.49 support in USD/JPY, 1157.55 in EUR/JPY and 132.17 in GBP/JPY will be watch to confirm strength in Yen. In Europe, currently, FTSE is down -0.04%. DAX is up 0.09%. CAC is up 0.05%. German 10-year yield is down -0.0267 at -0.499, pressing -0.5% handle. Earlier in Asia, Nikkei dropped -0.18%. Hong Kong HSI dropped -0.13%. China Shanghai SSE rose 0.25%. Singapore Strait Times dropped -0.51%. Japan 10-year JGB yield dropped -0.0295 to -0.181. Full Report Here Canada CPI slowed to 1.9%, but stays firm with labor market... EU warns risk of no-deal Brexit is very real Eurozone CPI finalized at 1.0%, highest contribution from services UK CPI slowed to 1.7%, core CPI to 1.5%, GBP dips Fed still expected to cut even markets are paring bets, some... BoE Carney might be asked to extend his term again in... WH Kudlow hints at US-Japan trade agreement at UN this month Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol FOMC Preview – Focus on Dot Plot for Potential Third Rate...   Moody's and Fitch's Downgrade Hong Kong on Concerns about Closer Link... China Watch – Economy Going from Bad to Worse Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.2420; (P) 1.2473; (R1) 1.2554; More.... Intraday bias in GBP/USD remains neutral at this point. On the upside, sustained break of 38.2% retracement of 1.3381 to 1.1958 at 1.2502 will pave the way to 61.8% retracement at 1.2837. On the downside, however, break of 1.2283 minor support will suggest that the rebound is completed. Intraday bias will be turned back to the downside for retesting 1.1958 low. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings FOMC Preview: Repo Wreckage Unlikely to Derail Fed's Plans for a 25bps Cut Canada: Inflation Cools on Lower Gasoline Prices But Core Rates Still Averaging Two Percent Canadian Inflation Continues to Tread Water Jumpy Oil Market Fears Slipping Demand Market Brief: All Eyes On Fed's Jay Powell SNB Meeting: Too Early To Follow In Draghi's Footsteps? US Open – Fed Day, Repo, Oil, And Gold New Zealand GDP Growth Likely Slowed In Q2, More Rate Cuts May Be Needed AUDUSD Capped By The 50.0% Fibonacci, Moves Into Ichimoku Cloud USDJPY Attracts Buying Interest, 50% Fibonacci Eyed US Funding Squeeze Haunts Fed Ahead Of Rate Decision, Dollar Slips Fed Has Much To Answer For Fundamental Analysis | Technical Analysis In-depth Reports 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 China Watch - Economy Going from Bad to Worse September Flashlight for the FOMC Blackout Period Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 22:45 NZD Current Account Balance (NZD) Q2 -1.11B -1.10B 0.68B 0.72B 23:50 JPY Trade Balance (JPY) Aug -0.13T -0.14T -0.13T -0.10T 00:30 AUD Westpac Leading Index M/M Aug -0.30% 0.14% 0.20% 08:30 GBP CPI M/M Aug 0.40% 0.40% 0.00% 08:30 GBP CPI Y/Y Aug 1.70% 1.80% 2.10% 08:30 GBP Core CPI Y/Y Aug 1.50% 1.80% 1.90% 08:30 GBP RPI M/M Aug 0.80% 0.50% 0.00% 08:30 GBP RPI Y/Y Aug 2.60% 2.40% 2.80% 08:30 GBP PPI Input M/M Aug -0.10% -0.60% 0.90% 0.60% 08:30 GBP PPI Input Y/Y Aug -0.80% -1.00% 1.30% 0.90% 08:30 GBP PPI Output M/M Aug -0.10% 0.10% 0.30% 08:30 GBP PPI Output Y/Y Aug 1.60% 1.70% 1.80% 1.90% 08:30 GBP PPI Output Core M/M Aug 0.20% 0.10% 0.40% 08:30 GBP PPI Output Core Y/Y Aug 2.00% 1.90% 2.00% 08:30 GBP House Price Index Y/Y Jul 0.70% 0.80% 0.90% 1.40% 09:00 EUR Eurozone CPI M/M Aug 0.10% 0.20% -0.50% 09:00 EUR Eurozone CPI Y/Y Aug F 1.00% 1.00% 1.00% 09:00 EUR Eurozone CPI Core Y/Y Aug F 0.90% 0.90% 0.90% 12:30 USD Building Permits Aug 1.42M 1.31M 1.32M 12:30 USD Housing Starts Aug 1.42M 1.36M 1.19M 1.22M 12:30 CAD CPI M/M Aug -0.10% -0.20% 0.50% 12:30 CAD CPI Y/Y Aug 1.90% 2.00% 2.00% 12:30 CAD CPI Core - Common Y/Y Aug 1.80% 1.90% 1.90% 12:30 CAD CPI Core - Median Y/Y Aug 2.10% 2.10% 2.10% 12:30 CAD CPI Core - Trim Y/YAug 2.10% 2.10% 2.10% 14:30 USD Crude Oil Inventories -2.1M -6.9M 18:00 USD FOMC Rate Decision (Upper Bound) (SEP 18) 2.00% 2.25% 18:00 USD FOMC Rate Decision (Lower Bound) (SEP 18) 1.75% 2.00% 18:30 USD FOMC Press Conference

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!