Action Insight Daily Report 10-7-19

Yen Firmer in Quiet Markets, Eye on US-China Trade Talks

Action Insight Daily Report 10-7-19 Yen Firmer in Quiet Markets, Eye on US-China Trade Talks The forex markets are generally quiet today, staying in tight ranges. Trading is subdued with China and Hong Kong on holiday. Yen, Euro and Dollar are the mildly firmer ones. Australian Dollar, Sterling and Swiss Franc are the relatively weaker ones. US-China trade talks and Brexit will be the focuses this week. And we'd see more volatility in related currencies as news come in. Technically, Australian Dollar appears to be weakening broadly. EUR/AUD's retreat and AUD/USD's recover clearly lost momentum as see in 4 hour charts. We might see retest of 1.6368 temporary top in EUR/AUD and 0.6670 temporary low in AUD/USD ahead is selloff in Aussie worsens. USD/JPY will be a pair to watch in relation to overall sentiments. As long as 107.29 minor resistance holds, further decline is in favor to retest 104.45 low. In Asia, Nikkei is down -0.20%. Singapore Strait Times is up 0.69%. Japan 10-year JGB yield is down -0.0092 at -0.222. Full Report Here Australia AiG construction dropped to 42.6, 13th months of contraction China said to have narrowed scope of discussions ahead of high... Fed George: Concern about low inflation seems unnecessary Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Net Length on JPY Increased on... CFTC Commitments of Traders -Bets on Lower Crude Price Soared Dollar Ended Lower on Recession Fear and Fed Cut Bets, Awaits... Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/JPY Daily Outlook Daily Pivots: (S1) 106.62; (P) 106.87; (R1) 107.17; More... USD/JPY is losing some downside momentum as seen in 4 hour MACD. But intraday bias stays on the downside with 107.29 minor resistance intact. Corrective recovery from 104.45 has completed at 108.47, ahead of 109.31 key resistance. Further fall should be seen for retesting 104.45 low first. On the upside, above 107.29 minor resistance will turn intraday bias neutral first. But risk will remain on the downside as long as 108.47 resistance holds. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings EUR/USD Could Struggle To Rebound Above 1.1020 GOLD Prepares For Further Upside Pressure EURUSD Halts Weakness With Upside Pressure Envisaged Forex Forecast and Cryptocurrencies Forecast Weekly Economic and Financial Commentary: Disappointing Data and More Central Bank Cuts The Weekly Bottom Line: Mixed Signals on Strength of Expansion Forward Guidance: Whither (or Wither…) the Services Sector? Week Ahead: US-China Trade Talks Set to Resume as global Economy Shivers Week ahead – Interim Trade Deal or Another Salvo of Tariffs? China Weekly Letter – Is the Chinese Business Cycle Turning? Brexit Monitor: PM Johnson's Proposal Not Sufficient for the EU – Next Week Will be Crucial for the Negotiations Fundamental Analysis | Technical Analysis In-depth Reports Concerns over Capital Outflow in Hong Kong Exaggerated Low Probability of a Follow Up November RBA Move Despite Market Pricing of ~50% Chance 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 ECB Snaps, Crackles, then Watches Rates Pop Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 21:30 AUD AiG Performance of Construction Index Sep 42.6 44.6 23:50 JPY JP Foreign Reserves Sep $1322.6B $1311.6B 5:00 JPY Leading Economic Index Aug P 91.7 91.8 93.7 6:00 EUR Germany Factory Orders M/M Aug -0.40% -2.70% 7:00 CHF Foreign Currency Reserves (CHF) Sep 767B 7:30 GBP Halifax House Prices M/M Sep 0.10% 0.30% 8:30 EUR Sentix Investor Confidence Oct -13 -11.1

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