Action Insight Daily Report 10-16-19

Sterling Firm as Brexit Deal is Near, Inflation Data Watched

Action Insight Daily Report 10-16-19 Sterling Firm as Brexit Deal is Near, Inflation Data Watched Pound stays generally firm in Asian session after yesterday's rally. UK and EU are getting closer to a Brexit deal and further progress could give Sterling another punch above. As for today, Yen and Swiss Franc are mildly firmer together with dollar. Meanwhile, Australian Dollar and New Zealand Dollars are the weakest. For the week, Sterling and Dollar are so far the strongest while Aussie and Kiwi are the weakest. Technically, 1.2819 projection level in GBP/USD will be a major focus. Strong break there will confirm upside acceleration and affirm the case of medium term bullish reversal. USD/JPY is facing 109.31 resistance now. Solid break there will affirm the case of medium term bullish reversal too. EUR/AUD has taken out 1.6368 temporary top finally and resumed rise from 1.5905 towards 1.6680/6786 resistance zone. AUD/USD is looking at 0.6710 minor support to confirm overall weakness of Aussie. Break will target 0.6670 low. In Asia, currently, Nikkei is up 1.27%. Hong Kong HSI is up 0.09%. China Shanghai SSE is down -0.28%. Singapore Strait Times is up 0.55%. Japan 10-year JGB yield is up 0.0075 at -0.164. Overnight, DOW rose 0.89%. S&P 500 rose 1.00%. NASDAQ rose 1.24%. 10-year yield rose 0.038 to 1.771. Full Report Here Sterling firm despite DUP's concerns on Johnson's Brexit concessions New Zealand CPI slowed to 1.5%, RBNZ expected to cut further China warns of countermeasures after US House passed legislations supporting Hong... IMF downgrades global growth forecast to 3% on trade war Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Strong Inflation Could Affect PBOC's Policy to Stimulate Growth; Trade Data... RBA Minutes – Sending Dovish Message by Rebuking Arguments in Favor... US-China Trade Deal and Brexit Optimism Lifted Sentiments Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/USD Daily Outlook Daily Pivots: (S1) 1.2659; (P) 1.2729; (R1) 1.2856; More.... Intraday bias in GBP/USD remains on the upside for the moment. Rise from 1.1958 is targeting 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205 next. On the downside, below 1.2516 minor support will turn intraday bias neutral again. But retreat should be contained well above 1.2195 support for another rally. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings EUR/GBP Accelerating Losses, UK & Euro Zone CPI Reports Next Asia Morning: ASX Set For Higher Open NZ CPI: Inflation Pressures and Where To Find Them – CPI Rose 0.7% In September Quarter, Annual Inflation 1.5% Brexit Bravado Begets Boris Bounce How High Can GBP/USD Go? Sterling Surges Though UK-EU Gap Remains 'Quite Wide' Finally, Something to Get Excited about in the Eurozone! Who Is Most Exposed to a Global Manufacturing Slowdown? QE or Not QE? That Is Not the Question Fundamental Analysis | Technical Analysis In-depth Reports Who Is Most Exposed to a Global Manufacturing Slowdown? QE or Not QE? That Is Not the Question Strong Inflation Could Affect PBOC's Policy to Stimulate Growth; Trade Data Suggests China Continues to Suffer from Trade War 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 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 21:45 NZD CPI Q/Q Q3 0.70% 0.60% 0.60% 21:45 NZD CPI Y/Y Q3 1.50% 1.40% 1.70% 23:30 AUD Westpac Leading Index M/M Sep -0.08% -0.28% 8:30 GBP DCLG House Price Index Y/Y Aug 1.20% 0.70% 8:30 GBP CPI M/M Sep 0.20% 0.40% 8:30 GBP CPI Y/Y Sep 1.80% 1.70% 8:30 GBP Core CPI Y/Y Sep 1.70% 1.50% 8:30 GBP RPI M/M Sep -0.10% 0.80% 8:30 GBP RPI Y/Y Sep 2.70% 2.60% 8:30 GBP PPI - Input M/M Sep 0.30% -0.10% 8:30 GBP PPI - Input Y/Y Sep -1.80% -0.80% 8:30 GBP PPI - Output Y/Y Sep 1.30% 1.60% 8:30 GBP PPI - Output M/M Sep 0.10% -0.10% 8:30 GBP PPI - Core Output M/M Sep 0.10% 0.20% 8:30 GBP PPI - Core Output Y/Y Sep 1.90% 2.00% 9:00 EUR Trade Balance (EUR) Aug 18.6B 19.0B 9:00 EUR CPI M/M Sep F 0.20% 0.10% 9:00 EUR CPI Y/Y Sep F 0.90% 0.90% 9:00 EUR CPI - Core Y/Y Sep F 1.00% 1.00% 12:30 USD Retail Sales M/M Sep 0.30% 0.40% 12:30 USD Retail Sales ex Autos M/M Sep 0.20% 0.00% 12:30 CAD CPI M/M Sep 0.00% -0.10% 12:30 CAD CPI Y/Y Sep 2.00% 1.90% 12:30 CAD CPI Core - Common Y/Y 1.80% 1.80% 12:30 CAD CPI Core - Median Y/Y 2.10% 2.10% 12:30 CAD CPI Core - Trimmed Y/Y 2.10% 2.10% 14:00 USD Business Inventories Aug 0.30% 0.40% 14:00 USD NAHB Housing Market Index Oct 68 68

Action Forex Company Limited | Room 804, 8/F. , Prosperity Centre, 982 Canton Road, Mongkok, Kowloon 852 Hong Kong SAR China Unsubscribe mondemand.forex@blogger.com Update Profile | About Constant Contact Sent by contact@actionforex.com in collaboration with Try email marketing for free today!