Action Insight Daily Report 10-10-19

Markets Stay Cautious as US-China Trade Talks Awaited

Action Insight Daily Report 10-10-19 Markets Stay Cautious as US-China Trade Talks Awaited Overall, the forex markets remain generally quiet in very tight range. Australian dollar edged higher in Asian session as lifted by stronger than expected consumer inflation expectations. Yet, there was on follow through buying. Yen and Dollar are both softer as sentiments remain cautious. Traders are very skeptical on whether any progress could be made in US-China trade negotiations. yet, they're guarding against any positive surprises for now. Technically, USD/CAD failed to break through 1.3347 temporary top after yesterday's rally attempt and more consolidations is likely. Similarly, EUR/AUD also failed to break through 1.6368 temporary top too and consolidations are set to continue. Selloff has clearly lost momentum. GBP/USD and GBP/JPY might be ready for a brief recovery. In Asia, currently, Nikkei is up 0.26%. Hong Kong HSI is up 0.18%. China Shanghai SSE is up 0.19%. Singapore Strait Times is down -0.12%. Japan 10-year JGB yield is down -0.0006 at -0.206. Overnight, DOW rose 0.70%. S&P 500 rose 0.91%. NASDAQ rose 1.02%. 10-year yield rose 0.046 to 2.087, defended 2% handle well for now. Full Report Here Chinese Liu said to cut short trade talks in US, White... FOMC minutes: Some wants clarity on when recalibration of policy would... US oil inventories rose 2.9m barrels, WTI steady EU Sassoli open to Brexit extension for specific objective reasons Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol US Crude Oil Inventory Gained Further, While Petroleum Products Continued to... Brexit Update – Johnson's Deal Appears Unattractive to EU Members Taiwan's Economy Benefits from US-China Trade War Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Outlook Daily Pivots: (S1) 0.6715; (P) 0.6732; (R1) 0.6742; More... AUD/USD is staying in consolidation from 0.6677 and intraday bias remains neutral first. Recovery might extend but upside upside should be limited by 0.6894 resistance. On the downside, firm break of 0.6670/7 will confirm larger down trend resumption. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Northern Exposure: FOMC to Follow the Labour Market Downtrend FOMC Minutes: Downside Risks Concern Participants AUD/USD Recovery Above 0.6780 Won't Be Easy Asia Morning: The Delegation Has Landed. I Repeat – The Delegation Has Landed All Is Good According To The FOMC Minutes Market Brief: Good (And Bad) Signals Out Of China Ahead of Tomorrow's Trade Talks Crude is Quietly Up 1% Fundamental Analysis | Technical Analysis In-depth Reports FOMC Minutes: Downside Risks Concern Participants Northern Exposure: FOMC to Follow the Labour Market Downtrend Brexit Update - Johnson's Deal Appears Unattractive to EU Members Taiwan's Economy Benefits from US-China Trade War Concerns over Capital Outflow in Hong Kong Exaggerated US-China Trade: 60% Probability of Interim Deal Next Week Political Pressure, Trade Policy and Potential Market Effect What To Expect From Central Banks In The Next Global Downturn Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 21:45 NZD Food Price Index M/M Sep 0.00% -0.20% 0.70% 23:01 GBP RICS Housing Price Balance Sep -2% -7% -4% 23:50 JPY Bank Lending Y/Y Sep 2.00% 2.00% 2.10% 23:50 JPY PPI M/M Sep 0.00% -0.10% -0.30% 23:50 JPY PPI Y/Y Sep -1.10% -1.20% -0.90% 23:50 JPY Machinery Orders M/M Aug -2.40% -2.50% -6.60% 00:00 AUD Consumer Inflation Expectations Oct 3.60% 3.20% 3.10% 00:30 AUD Home Loans Aug 1.80% 3.60% 5.00% 5.50% 06:00 EUR Germany Trade Balance (EUR) Aug 19.4B 20.2B 06:45 EUR France Industrial Output M/M Aug 0.40% 0.30% 08:00 EUR Italy Industrial Output M/M Aug -1.90% -0.70% 08:30 GBP Manufacturing Production M/M Aug -0.10% 0.30% 08:30 GBP Manufacturing Production Y/Y Aug -0.70% -0.60% 08:30 GBP Industrial Production M/M Aug -0.10% 0.10% 08:30 GBP Industrial Production Y/Y Aug -1.10% -0.90% 08:30 GBP Index of Services 3M/3M Aug 0.10% 0.20% 08:30 GBP Goods Trade Balance (GBP) Aug -10.0B -9.1B 08:30 GBP GDP M/M Aug 0.00% 0.30% 11:30 EUR ECB Monetary Policy Meeting Accounts 12:30 USD Initial Jobless Claims (Oct 4) 217K 219K 12:30 USD CPI M/M Sep 0.10% 0.10% 12:30 USD CPI Y/Y Sep 1.80% 1.70% 12:30 USD CPI Core Y/Y Sep 2.40% 2.40% 12:30 USD CPI Core M/M Sep 0.20% 0.30% 12:30 CAD New Housing Price Index Y/Y Aug 0.00% -0.40% 14:30 USD Natural Gas Storage 112B

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