Action Insight Mid-Day Report 10-11-19

Sterling Skyrockets on Brexit Optimism, Canadian Jumps on Job Data

Action Insight Mid-Day Report 10-11-19 Sterling Skyrockets on Brexit Optimism, Canadian Jumps on Job Data Sterling is overwhelmingly the strongest one on optimism that UK will finally reach a deal with EU for an orderly Brexit. EU Chief Brexit negotiator Michel Barnier is said to be given greenlight for tunnel discussions, paving the way for next week's crucial EU summit. Canadian Dollar is currently the second strongest, as boosted by much stronger than expected employment data. On the other hand, Yen and Swiss Franc are sold off sharply on strong risk appetite. Now, focus will turn to second day of US-China trade negotiations. Technically, overall strength in the Pound is rather impressive. GBP/USD breaks 1.2582 resistance and should target 1.2819 projection level. GBP/JPY breaks 135.74 resistance and should now target 140.33 fibonacci level. EUR/GBP breaks 0.8786 support to resume fall from 0.9324, for 0.8472 key support. USD/CAD is heading to 1.3206 support. break will extend the consolidation from 1.3382 with the third leg to 1.3133 support next. In Europe, currently, FTSE is up 0.83%. DAX is up 2.03%. CAC is up 1.16%. German 10-year yield is up 0.017 at -0.448. Earlier in Asia, Nikkei rose 1.15%. Hong Kong HSI rose 2.4%. China Shanghai SSE rose 0.88%. Singapore Strait Times rose 0.79%. Japan 10-year JGB yield rose 0.0315 to -0.180. Full Report Here Canada employment grew 53.7k, unemployment rate dropped to 5.5% Sterling surges as EU Barnier got greenlight for tunnel Brexit neogtiations China pushing for partial trade deal ahead of 2nd day of... EU Tusk received optimistic message on Brexit deal New Zealand BusinessNZ PMI unchanged at 48.4, stuck in a tight... First day of US-China trade talks went well, Trump to meet... 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 GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.2274; (P) 1.2372; (R1) 1.2538; More.... GBP/USD surges to as high as 1.2684 and strong break of 1.2582 resistance confirms resumption of rebound from 1.1958 low. Intraday bias stays on the upside for 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205. On the downside, below 1.2469 minor will turn intraday bias neutral first. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Mini-Trade Deal Optimism, Oil Surging on Iranian Tanker Attack, Brexit Tunnel Talks, Gold Softens Market Brief: Short Squeeze Continues on US-China Trade and Brexit Optimism Key U.S. Semiconductor Stocks Hovering Below Resistances Ahead Of Trade Talk Conclusion WTI Breaks Above 54 Following Missile Attack On Iranian Oil Vessel Fed To Cut, GBP Optimism GBP/CHF Looks Overbought After Steep Rally Brexit and Trade Talks Buoy Investors GBP/USD Outlook: Sterling Holds Firm Tone And On Track For Further Gains On Drastically Improved Sentiment Pound Rallies As Johnson And Varadkar Say That Brexit Deal Is Possible 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 21:30 NZD Business NZ PMI Sep 48.4 49 48.4 06:00 EUR Germany CPI M/M Sep F 0% 0% 0% 06:00 EUR Germany CPI Y/Y Sep F 1.20% 1.20% 1.20% 12:30 USD Import Price Index M/M Sep 0.20% -0.10% -0.50% -0.20% 12:30 CAD Unemployment Rate Sep 5.50% 5.70% 5.70% 12:30 CAD Net Change in Employment Sep 53.7K 40.2K 81.1K 14:00 USD Michigan Consumer Sentiment Index Oct P 92 93.2

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