Action Insight Mid-Day Report 9-20-19

Dollar Regains Ground after US Exempts Some Tariffs on China

Action Insight Daily Report 9-20-19 Dollar Regains Ground after US Exempts Some Tariffs on China Dollar regains some ground in early US session as US exempts tariffs on some Chinese products temporarily. It seems that both sides are keen to create the right mood for continuing negotiations, at least for now. Though, at this points, Swiss Franc and Yen remain the stronger ones for the day. Sterling has turned from the strongest to one of the weakest after Ireland poured cold water on Brexit deal. But New Zealand Dollar is currently the weakest. Technically, both GBP/USD and GBP/JPY are back below 1.2502 and 135.07 fibonacci levels respectively, after failing to sustain above. Attention will now be on sign of selloff that suggests rejection. Focuses before weekly close will be on whether AUD/USD would extend the fall from 0.6894, and whether USD/CAD could resume the rebound from 1.3133. In Europe, FTSE is up 0.07%. DAX is up 0.03%. CAC is up 0.38%. German 10-year yield is down -0.0112 at -0.517. Earlier today, Nikkei rose 0.16%. Hong Kong HSI dropped -0.13%. China Shanghai SSE rose 0.24%. Japan 10-year JGB yield rose 0.0077 to -0.218. Full Report Here US exempts tariffs on more than 400 Chinese products lines Fed Rosengren: Additional monetary stimulus is not needed Canada retail sales rose 0.4%, ex-auto sales dropped -0.1% Ireland Coveney: Not close to Brexit deal even mood music has... Fed Bullard: Larger rate cut would be prudent risk management EU Juncker said Brexit deal could be reached by Oct 31 Japan CPI core slowed to 0.5%, further away from BoJ's target 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 EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1017; (P) 1.1046; (R1) 1.1068; More... EUR/USD weakens in early US session but stays consolidation from 1.0926 after all. Intraday bias remains neutral at this point. Outlook remains bearish as long as 1.1164 resistance holds. On the downside, sustained break of 1.0926 will resume lager down trend from 1.2555 for 1.0813 fibonacci level next. However, decisive break of 1.1164 will be an early indication of larger reversal and target 1.1249 resistance. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Canadian Retail Sales Still Soft in July Market Brief: GBP Dumped As Brexit Hopes Dashed GBPAUD Spikes To 4-Month High, Additional Gains Could Be Limited EURNZD Possibly Forming Triple Top Near 10-Month High Brexit Warnings Overlooked, Exhausted Trading And Cannabis Banking Bill Pound Jumps On Brexit Deal Hopes, Dollar Edges Lower NZDUSD Still Bearish, But Forming Possible Double Bottom USDCAD Bulls Relax Under 200-Day SMA 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% 0.40% 0.00% -0.10% 12:30 CAD Retail Sales Ex Auto M/M Jul -0.10% 0.20% 0.90% 14:00 EUR Eurozone Consumer Confidence Sep A -7.2 -7.1

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