Action Insight Mid-Day Report 10-15-19

Sterling Firmer in Tight Range, Yen Mildly Higher as US-China Trade Deal Back in Question

Action Insight Mid-Day Report 10-15-19 Sterling Firmer in Tight Range, Yen Mildly Higher as US-China Trade Deal Back in Question Commodity currencies are generally softer today, as led by New Zealand Dollar. Euro also turned softer despite slightly better than expected German ZEW economic sentiment. US-China trade deal appears to be in question again, but reactions are so far mild. On the other hand, Sterling appears to be slightly strong despite weaker than expected job data. UK and EU appear to be working hard on a deal before October 31 to avert no-deal Brexit. Yen is currently the second strongest. Technically, major pairs and crosses are staying in consolidation for now. GBP/USD is looking at 1.2707 temporary top and break will resume recent strong rise to 1.2819 projection level. GBP/JPY is also looking at 137.88 temporary top. Break will resume recent rise too, towards 140.33 fibonacci level. In Europe, currently, FTSE is down -0.30%. DAX is up 0.40%. CAC is up 0.49%. German 10-year yield is down -0.010 at -0.464. Earlier in Asia, Nikkei rose 1.87%. Hong Kong HSI dropped -0.07%. China Shanghai SSE dropped -0.56%. Singapore Strait Times dropped -0.27%. Japan 10-year JGB yield rose 0.0079 at -0.171. Full Report Here China said to tie US farm purchases to tariff removal EU Barnier and UK Barclay said a Brexit deal this week... Bullard: Fed may decide to provide additional accommodation, on meeting-by-meeting basis BoJ: Domestic demand on uptrend, upgrade Hokkaido assessment German ZEW dropped to -22.8, US-China trade settlement doesn't diminish economic... UK unemployment rate edged higher to 3.9%, wage growth slowed RBA minutes suggest no hurry for another rate cut despite easing... BoJ Kuroda: Need to pay closer attention to loss of momentum... 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 Mid-Day Outlook Daily Pivots: (S1) 1.2527; (P) 1.2589; (R1) 1.2661; More.... GBP/USD is staying in consolidation from 1.2707 temporary top and intraday bias remains neutral. Another retreat cannot be ruled out. But downside should be contained well above 1.2195 support to bring another rally. On the upside, break of 1.2707 will resume the rise from 1.1958 low to 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Market Brief: China Wants US Tariffs Removed Before Further Farm Goods Purchases US Open – Brexit, GBP, Gold, Oil WTI OIL Outlook: Oil Falls Further As Sentiment Weakens On Rising Concerns About Demand growth S&P 500: The Long And Short Of It | Cisco, Welltower, Applied Material Brexit And Trade War: TRY : Short Recovery GBP/USD Violates March Downtrend, Cautiously Bullish In Short-Term GBP/USD Outlook: Sterling Inflated By Optimistic News But 200DMA Still Caps Market Brief: U.S. Q3 Earnings Take Center Stage Over Trade Talk European Stocks Back In Green Fundamental Analysis | Technical Analysis In-depth Reports 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 00:30 AUD RBA Meeting Minutes 01:30 CNY CPI Y/Y Sep 3.00% 2.90% 2.80% 01:30 CNY PPI Y/Y Sep -1.20% -1.20% -0.80% 04:30 JPY Tertiary Industry Index M/M Aug 0.40% 0.60% 0.10% 04:30 JPY Industrial Production M/M Aug F -1.20% -1.20% -1.20% 06:30 CHF Producer and Import Prices M/M Sep -0.30% -0.10% -0.20% 06:30 CHF Producer and Import Prices Y/Y Sep -2.00% -2.00% -1.90% 08:30 GBP Claimant Count Change Sep 21.1K 21.3K 28.2K 16.3K 08:30 GBP Claimant Count Rate Sep 3.30% 3.30% 08:30 GBP ILO Unemployment Rate 3M Aug 3.90% 3.80% 3.80% 08:30 GBP Average Earnings Including Bonus 3M/Y Aug 3.80% 3.90% 4.00% 3.90% 08:30 GBP Average Earnings Excluding Bonus 3M/Y Aug 3.80% 3.70% 3.80% 3.90% 09:00 EUR Germany ZEW Economic Sentiment Oct -22.8 -27 -22.5 09:00 EUR Germany ZEW Current Situation Oct -25.3 -25.5 -19.9 09:00 EUR Eurozone ZEW Economic Sentiment Oct -23.5 -26.7 -22.4

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