Action Forex Mid-Day Report 10-29-19

Yen Mixed as Risk Appetite Fades, Europeans Soft on UK Election

Action Insight Mid-Day Report 10-29-19 Yen Mixed as Risk Appetite Fades, Europeans Soft on UK Election Australian Dollar remains the strongest one for today as boosted by optimism over US-China trade deal. But the markets are relatively mixed elsewhere. Yen couldn't decide what to do as risk appetite fades in European session, while US stocks also open mildly lower. European majors are generally soft on news regarding UK snap elections. Dollar is mildly firmer, and outshines Canadian. But the fates of USD/CAD won't be decided before tomorrow's BoC and FOMC rate decisions. From US, S&P Case-Shiller 20 cities house price rose 2.0% yoy in August. Also released, UK M4 money supply rose 0.7% mom in September versus expectation of 0.3% mom. Mortgage approvals was unchanged at 66k in September. Nationwide house price rose 0.2% mom in October. From Japan, Tokyo CPI core was unchanged at 0.5% yoy in October, missed expectation of 0.7% yoy. In Europe, currently, FTSE is down -0.58%. DAX is down -0.15%. CAC is up 0.06%. German 10-year yield is down -0.0107 at -0.341. Earlier in Asia, Nikkei rose 0.47%. Hong Kong HSI dropped -0.39%. China Shanghai SSE dropped -0.87%. Singapore Strait Times rose 0.36%. Japan 10-year JGB yield rose 0.0229 to -0.109. Full Report Here UK Labour said conditions for election are met RBA Lowe: Extraordinarily unlikely to see negative interest rates in Australia RBNZ Hawkesby: Tactical rate cut demonstrate determination to meet inflation target UK Johnson failed to trigger election, accepted Brexit extension Trump ahead of schedule in China trade deal, S&P500 hit record Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol FOMC Preview – Third Rate Cut on Table. Will Fed... BOC Preview – Policy Rate will Stay Unchanged. But for How... CFTC Commitments of Traders – Net LENGTH for CAD futures has... Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/JPY Mid-Day Outlook Daily Pivots: (S1) 108.73; (P) 108.89; (R1) 109.11; More... Intraday bias in USD/JPY remains on the upside for the moment. Rise from 104.45 in progress for 109.31 key resistance. Decisive break there will carry larger bullish implications next target will be 100% projection of 104.45 to 108.47 from 106.48 at 110.50. On the downside, however, break of 108.25 support will indicate short term topping and turn bias back to the downside for 106.48 support next. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Market Brief: Corbyn Will Back Snap Election Oil, Brexit Weigh On FTSE US Open – Fed, Earnings, Oil, Gold GBP/USD Outlook: Hopes For Fresh Attempts At 1.30 Will Remain Alive While Fibo Support At 1.2819 Holds Boris Takes Another Stab At An Election Market Mood Brightens On Trade Deal Optimism AUD Remain Bid Ahead Of CPI | AUD/USD, AUD/ZD, EUR/AUD Market Brief: Mild Risk-On From Trade Optimism Fundamental Analysis | Technical Analysis In-depth Reports Modern Monetary Theory: A Primer Options for Effective QE Strategy for the RBA QE or Not QE? That Is Not the Question US-China Trade: 'Phase 1' Trade-Deal Not a Game-Changer for the Global Economy Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:30 JPY Tokyo CPI Core Y/Y Oct 0.50% 0.70% 0.50% 07:00 GBP Nationwide Housing Prices M/M Oct 0.20% 0.00% -0.20% 09:30 GBP Mortgage Approvals Sep 66K 65K 66K 09:30 GBP M4 Money Supply M/M Sep 0.70% 0.30% 0.40% 13:00 USD S&P/CS Composite-20 HPI Y/Y Aug 2.00% 2.10% 2.00% 14:00 USD Consumer Confidence 128.2 125.1 14:00 USD Pending Home Sales M/M Sep 0.90% 1.60%

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