Action Insight Mid-Day Report 10-1-19

Dollar Rises as Fed Evans Hints that Rate Cut is Done

Action Insight Daily Report 10-1-19 Dollar Rises as Fed Evans Hints that Rate Cut is Done Dollar surges broadly today after a Fed dove said that the rate cuts delivered are already enough to lift inflation back to target. Euro somewhat shrug off weak inflation and PMI data and follows as second strongest, then Swiss Franc. Australian Dollar is the weakest one after RBA's dovish rate cut. New Zealand Dollar is the second weakest, then Sterling. Technically, GBP/USD's strong break of 1.2283 support should confirm completion of whole rebound from 1.1958. Deeper fall should be seen back to retest this low. AUD/USD is on track to retest 0.6677 low and break will resume medium term down trend. EUR/AUD is back pressing 1.6308 resistance and break will pave the way to 1.6786 high. A focus will be on 108.47 resistance in USD/JPY. Break will resume the rally from 104.45 to 109.31 key near term resistance. In Europe, currently, FTSE is down -0.05%. DAX is down -0.12%. CAC is down -0.16%. German 10-year yield is up 0.044 at -0.529. Earlier in Asia, Nikkei rose 0.59%. Singapore Strait Times rose 0.83%. Japan 10-year JGB yield rose 0.0715 to -0.15. China and Hong Kong were on holiday. Full Report Here Canada GDP flat in July, services growth offset by goods producing... Fed Evans: Current monetary policy could result in inflation modestly running... Eurozone CPI slowed to 0.9%, missed expectation of 1.0% UK PMI Manufacturing recovered to 48.3, but job loss worsening Eurozone PMI manufacturing finalized at 45.7, there's likely worse to come RBA cut cash rate to 0.75%, maintains easing bias Japan Tankan large manufacturing index dropped to lowest since 2013, but... Japan PMI manufacturing finalized at 48.9, manufacturing and exports drag on... Australia AiG manufacturing rose to 54.7, employment and new orders accelerate Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Sentiment Improves amidst Expectations of Trade... CFTC Commitments of Traders – Crude Oil Price Slumps as Middle... Sterling and Euro Broadly Pressured, Dollar Mixed Awaiting Trade Talks Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.2267; (P) 1.2306; (R1) 1.2337; More.... GBP/USD drops further to as low as 1.2224 so far today and intraday bias remains on the downside. Rebound from 1.1958 should have completed at 1.2582. Deeper decline should be seen o retest 1.1946/58 key support zone next. On the upside, above 1.2346 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 1.2582 resistance holds. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Goods Sector Caps Canadian GDP in July Euro Keeps Poise as Customs Plan Disappears Market Brief: Swissy Breaks Through Parity Pound Rebounds To $1.23 Post PMI Data, Brexit Proposals Eyed Markets Calm Ahead Of US Data USD/JPY Outlook: Bulls Crack Key Barriers But Without Break For Now Asia Session Close: RBA , India And Gold AUD Tumbles, EUR In Despair USD Strengthens As Almost Every Other Currency Weakens RBA Cut Rates To A Fresh Record Low Market Brief: Dovish RBA Allows Equity Risk To Party On US Futures Trade Higher Fundamental Analysis | Technical Analysis In-depth Reports RBA Lowers the Cash Rate by 25 Basis Points; Leaves Open Options for Even Lower Rates Impeachment Drama Stirs the Pot in Washington, D.C. A US-Iran War Would Trigger A Global Recession Oil 'Supply Shock' in Context Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 21:00 NZD NZIER Business Confidence Q3 -40 -34 22:30 AUD AiG Performance of Mfg Index Sep 54.7 53.1 23:30 JPY Unemployment Rate Aug 2.20% 2.30% 2.20% 23:50 JPY Tankan Large Manufacturing Index Q3 5 2 7 23:50 JPY Tankan Large Manufacturing Outlook Q3 2 1 7 23:50 JPY Tankan Non-Manufacturing Index Q3 21 20 23 23:50 JPY Tankan Non - Manufacturing Outlook Q3 15 16 17 23:50 JPY Tankan Large All Industry Capex Q3 6.60% 7.00% 7.40% 00:30 JPY Jibun Bank Manufacturing PMI Sep F 48.9 48.9 48.9 01:30 AUD Building Permits M/M Aug -1.10% 2.50% -9.70% 04:30 AUD RBA Rate Decision 0.75% 0.75% 1.00% 06:00 GBP Nationwide Housing Prices M/M Sep -0.20% 0.10% 0.00% 06:30 CHF Real Retail Sales Y/Y Aug -1.40% 1.60% 1.40% 07:30 CHF SVME - PMI Sep 44.6 46.5 47.2 07:45 EUR Italy Manufacturing PMI Sep 47.8 47.9 48.7 07:50 EUR France Manufacturing PMI Sep F 50.1 50.3 50.3 07:55 EUR Germany Manufacturing PMI Sep F 41.7 41.4 41.4 08:00 EUR Manufacturing PMI Sep F 45.7 45.6 45.6 08:30 GBP Manufacturing PMI Sep 48.3 47 47.4 09:00 EUR CPI Y/Y Sep P 0.90% 1.00% 1.00% 09:00 EUR CPI - Core Y/Y Sep P 1.00% 1.00% 0.90% 12:30 CAD GDP M/M Jul 0.00% 0.00% 0.20% 13:30 CAD Manufacturing PMI Sep 50.4 49.1 13:45 USD Manufacturing PMI Sep F 51 51 14:00 USD ISM Manufacturing PMI Sep 50.4 49.1 14:00 USD ISM Prices Paid Sep 50.5 46 14:00 USD Construction Spending M/M Aug 0.30% 0.10%

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