Action Insight Daily Report 10-15-19

Australian Dollar Steady after RBA Minutes, Markets Staying in Tight Range

Action Insight Daily Report 10-15-19 Australian Dollar Steady after RBA Minutes, Markets Staying in Tight Range The forex markets are staying in tight range in Asian session today. More clarity is needed regarding two of the biggest global risks, before traders commit more. It's unlikely for a Brexit deal to be reached at the EU summit this week. And it's reported that EU could hold a new emergency summit before end of the month. Yet, that would very much depend on any progress made. Meanwhile, it would take more time for US and China to hammer out what were exactly agreed in texts. Before that, nothing is considered done, not even phase 1 of a trade deal. In the currency markets, Australian Dollar is steadily in range after RBA minutes, slightly softer. Technically, Dollar's recovery overnight was relatively short lived and weak. 1.0941 minor support in EUR/USD and 0.6710 minor support in AUD/USD would be two levels to judge the strength of the greenback. Sterling is staying in consolidations after the spike last week. Such consolidations could enter for a while, until there is more news on Brexit coming through. In Asia, currently, Nikkei is up 1.89%. Hong Kong HSI is down -0.21%. China Shanghai SSE is down -0.67%. Singapore Strait Times is down -0.15%. Japan 10-year JGB yield is up 0.0092 at -0.170. Overnight, DOW dropped -0.11% in quiet trading. S&P 500 dropped -0.14%. NASDAQ dropped -0.10%. 10-year yield dropped -0.019 to 1.733. Full Report Here RBA minutes suggest no hurry for another rate cut despite easing... BoJ Kuroda: Need to pay closer attention to loss of momentum... US Mnuchin: If there is no trade deal with China, tariffs... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol RBA Minutes – Sending Dovish Message by Rebuking Arguments in Favor... CFTC Commitments of Traders – Bets Trimmed on Both Sides for... US-China Trade Deal and Brexit Optimism Lifted Sentiments Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Outlook Daily Pivots: (S1) 0.6751; (P) 0.6777; (R1) 0.6802; More... Intraday bias in AUD/USD is turned neutral with 4 hour MACD crossed below signal line. Outlook is unchanged that price actions from 0.6670 are seen as a corrective move. Above 0.6810 will bring another rise but should be limited by 0.6894 resistance to bring down trend resumption. On the downside, break of 0.6710 minor support will turn bias back to the downside for retesting 0.6670 low. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings RBA Minutes Make Strong Case for Lower Rates but Timing Still Likely to be February for the Next Cut GBP/USD Correcting Gains But Remains Well Supported Asia Morning: Calendar Heavy RBA Discussed Keeping Cuts For A Rainy Day | AUD/EUR, AUD/NZD China and Australian Data May Push AUD/USD Lower Fundamental Analysis | Technical Analysis In-depth Reports RBA Minutes Make Strong Case for Lower Rates but Timing Still Likely to be February for the Next Cut RBA Minutes - Sending Dovish Message by Rebuking Arguments in Favor of Keeping Rates Unchanged Brexit Monitor: 20% Probability Of A Deal But Another Extension Followed By Snap Election Remains Our Base Case US-China Trade: 'Phase 1' Trade-Deal Not a Game-Changer for the Global Economy 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 0:30 AUD RBA Meeting Minutes 1:30 CNY CPI Y/Y Sep 3.00% 2.90% 2.80% 1:30 CNY PPI Y/Y Sep -1.20% -1.20% -0.80% 4:30 JPY Tertiary Industry Index M/M Aug 0.40% 0.60% 0.10% 4:30 JPY Industrial Production M/M Aug F -1.20% -1.20% -1.20% 6:30 CHF Producer and Import Prices M/M Sep -0.10% -0.20% 6:30 CHF Producer and Import Prices Y/Y Sep -2.00% -1.90% 8:30 GBP Claimant Count Change Sep 21.3K 28.2K 8:30 GBP Claimant Count Rate Sep 3.30% 8:30 GBP ILO Unemployment Rate 3M Aug 3.80% 3.80% 8:30 GBP Average Earnings Including Bonus 3M/Y Aug 3.90% 4.00% 8:30 GBP Average Earnings Excluding Bonus 3M/Y Aug 3.70% 3.80% 9:00 EUR Germany ZEW Economic Sentiment Oct -27 -22.5 9:00 EUR Germany ZEW Current Situation Oct -25.5 -19.9 9:00 EUR Eurozone ZEW Economic Sentiment Oct -26.7 -22.4 12:30 USD Empire State Manufacturing Index Oct 0.8 2

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