Action Insight Mid-Day Report 10-14-19

Yen, Swiss and Dollar Higher as Markets Rethink US-China Deal in Holiday Trading

Action Insight Mid-Day Report 10-14-19 Yen, Swiss and Dollar Higher as Markets Rethink US-China Deal in Holiday Trading Yen, Swiss Franc and Dollar continue to regain some grounds today as markets reassess US-China trade negotiations developments. New Zealand Dollar, Sterling and Australian Dollar are generally softer too. But overall trading is rather subdued with Japan, US and Canada on holiday. Today's price actions are, for now, generally seen as consolidative. That is, Sterling strength and Yen weakness are expected to resume after traders are back. Technically, some consolidations are likely in Sterling pairs for now. But GBP/USD's retreat should be held well above 1.2195 support. GBP/JPY should be held well above 130.42 support. EUR/GBP should be capped well below 0.9019 resistance. EUR/USD and AUD/USD are two pairs to watch ahead. Both are seen as in corrective recoveries, which appear to lose upside momentum. Break of 1.0941 support in EUR/USD and 0.6710 support in AUD/USD should bring retest of recent lows. In Europe, currently, FTSE is down -0.49%. DAX is down -0.46%. CAC is down -0.56%. German 10-year yield is down -0.024 at -0.463. Earlier in Asia, Hong Kong HSI rose 0.81%. China Shanghai SSE rose 1.15%. Singapore Strait Times rose 0.34%. Japan was on holiday. Full Report Here US Mnuchin: If there is no trade deal with China, tariffs... Germany's Economy Ministry expects stagnation but not recession ECB de Guindos didn't foresee recession in Eurozone Eurozone industrial production rose 0.4% mom, above expectation of 0.3% mom China imports and exports contracted deeply in Sept BoE Ramsden sees less of a case for rate cut EU & UK held construction technical-level Brexit discussions, but more time... US-China reached trade deal phase 1, covering IP, financial services and... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Bets for Higher Gold and Silver... 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 EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1004; (P) 1.1034; (R1) 1.1066; More... No change in EUR/USD's outlook as corrective recovery from 1.0879 could still extend. But upside should be limited by 1.1109 resistance to bring down trend resumption. On the downside, break of 1.0941 minor support should confirm completion of the recovery and turn bias to the downside for retesting 1.0879 low first. However, firm break of 1.1109 will be an early sign of medium term bottoming and target 1.1412 key resistance next. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Market Brief: Brexit and US-China Trade Concerns Return Oil Floats Above 60 USD Huge Week For Brexit, US Tariffs Threat GBP/USD Outlook: Bulls Are Taking A Breather After 3.6% Rally And Awaiting Fresh Signals From Brexit Talks European Markets Point Lower EUR/USD Is Neutral To Bearish – 1.1075 Is Essential Trade War Pause Boosts Risk Assets GBP/USD And EUR/GBP: British Pound Remains Supported Fundamental Analysis | Technical Analysis In-depth Reports 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 3:00 CNY Trade Balance USD Sep 39.7B 35.1B 34.8B 3:00 CNY Imports Y/Y Sep -8.50% -5.20% -5.60% 3:00 CNY Exports Y/Y Sep -3.20% -3.00% -1.00% 3:00 CNY Trade Balance CNY Sep 275B 254B 240B 3:00 CNY Exports Y/Y CNY Sep -0.70% 2.60% 3:00 CNY Imports Y/Y CNY Sep -6.20% -2.60% 9:00 EUR Industrial Production M/M Aug 0.40% 0.30% -0.40%

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