Action Insight Mid-Day Report 9-30-19

Euro Dives Again on Poor German CPI, Dollar Jumps

Action Insight Mid-Day Report 9-30-19 Euro Dives Again on Poor German CPI, Dollar Jumps Euro drops broadly today as pressured by renewed selling following weaker than expected German inflation data. That's more than enough o offset improved unemployment rate. For now, though, Swiss Franc is the weakest one, followed by New Zealand Dollar. On the other hand, Dollar surges broadly, with the help from the decline in EUR/USD. Sterling is steadily firmer as it's staying in consolidations. Technically, EUR/USD's medium term down trend resumes through 1.09 and it's heading towards 1.0813 fibonacci level next. EUR/JPY is pressing 117.55 again. Break will bring retest of 115.86 low. USD/CHF is heading back to 0.9983 resistance. Break will be a solid sign of near term bullishness and should pave the way to 1.0237 resistance. In Europe, currently, FTSE is down -0.05%. DAX is up 0.10%. CAC is up 0.21%. German 10-year yield is up 0.006 at -0.564. Earlier in Asia, Nikkei dropped -0.56%. Hong Kong HSI rose 0.53%. China Shanghai SSE dropped -0.92%. Singapore Strait Times dropped -0.18%. Japan 10-year JGB yield rose 0.0126 to -0.221. Full Report Here Eurozone unemployment rate dropped to 7.4%, lowest since 2008 UK Q2 GDP finalized as -0.2% qoq, services the only positive... Swiss KOF dropped to 93.2, outlook remains gloomy towards end of... German retail sales rose 0.5%, below expectations 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 EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.0912; (P) 1.0935; (R1) 1.0966; More... EUR/USD's decline resumes after brief consolidation and reaches as low as 1.0084 so far. Intraday bias is back on the downside. Current down trend should target 1.0813 fibonacci level next. On the upside, break of 1.0958 minor resistance will turn intraday bias neutral again. But outlook will remain bearish as long as 1.1109 resistance holds. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Market Brief: King Dollar Reign Continues US Open – Trade War, UK GDP, China PMI, Gold, Oil Oil Is Able To Head Down To $50 By 2020 GBP/USD Blocked By Support Near Oversold Area USD Remains Steady Despite Trade Worries Slow Monday Start AUD/USD Outlook: Narrowing Range Ahead Of RBA AUD Under Pressure Ahead Of Tomorrow's RBA Meeting Market Brief: Worries Over Impeachment & Trade Tensions Outweigh China PMI Fear Of War On Capital Flows Hits Market Sentiment 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% 00:00 NZD ANZ Business Confidence Sep -53.5 -58.5 -52.3 01:00 CNY Manufacturing PMI Sep 49.8 49.7 49.5 01:00 CNY Non-Manufacturing PMI Sep 53.7 54.2 53.8 01:30 AUD Private Sector Credit M/M Aug 0.20% 0.30% 0.20% 01:45 CNY Caixin Manufacturing PMI Sep 51.4 50.2 50.4 05:00 JPY Housing Starts Y/Y Aug -7.10% -6.10% -4.10% 06:00 EUR Germany Retail Sales M/M Aug 0.50% 0.60% -2.20% -0.80% 07:00 CHF KOF Leading Indicator Sep 93.2 94.5 97 95.5 07:55 EUR Germany Unemployment Change Sep -10K 4K 4K 2K 07:55 EUR Germany Unemployment Rate Sep 5% 5% 5% 08:30 GBP Net Lending to Individuals (GBP) M/M Aug 4.8B 5.1B 5.5B 08:30 GBP GDP Q/Q Q2 F -0.20% -0.20% -0.20% 08:30 GBP Mortgage Approvals Aug 66K 67K 67K 08:30 GBP M4 Money Supply M/M Aug 0.40% 0.40% 0.70% 08:30 GBP M4 Money Supply Y/Y Aug 3.20% 2.70% 08:30 GBP Current Account (GBP) Q2 -25.2B -19.2B -30.0B -33.1B 09:00 EUR Unemployment Rate Aug 7.40% 7.50% 7.50% 12:00 EUR Germany CPI M/M Sep P 0.00% 0.10% -0.20% 12:00 EUR Germany CPI Y/Y Sep P 1.20% 1.40% 1.40% 12:30 CAD Industrial Product Price M/M Aug 0.20% -0.20% -0.30% 12:30 CAD Raw Material Price Index Aug -1.80% 1.30% 1.20% 1.30% 13:45 USD Chicago PMI Sep 50.5 50.4

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