Action Insight Mid-Day Report 10-16-19

Dollar Shrugs Poor Retail Sales, Sterling Continues to Await Brexit Deal

Action Insight Mid-Day Report 10-16-19 Dollar Shrugs Poor Retail Sales, Sterling Continues to Await Brexit Deal Sterling is attempting to resume recent rally even though there is no clear break through in Brexit negotiations yet. European Council President Donald Tusk said it may take another seven to eight hours before knowing when Brexit may happen. As news and rumors come in, we may seen more commitment from Pound traders. Meanwhile, Dollar shrugs off rather poor retail sales data and trades mixed. Yen continues to pare back some of this week's losses. Commodity currencies remain the worst performing ones. Technically, intraday bias in Sterling remains on the upside as long as these levels holds: 1.2655 minor support in GBP/USD, 137.51 minor support tin GBP/JPY, and 0.8716 minor resistance in EUR/GBP. Traders might want to tighten up their stops ahead of any Brexit announcements. AUD/USD continues to spiral downward towards 0.6710 minor support. Break will be the first sign of down trend resumption and target 0.6670 low. In Europe, currently, FTSE is down -0.40%. DAX is up 0.33%. CAC is down -0.11%. German 10-year yield is up 0.031 at -0.384. Earlier in Asia, Nikkei rose 1.20%. Hong Kong HSI is up 0.61%. China Shanghai SSE dropped -0.41%. Singapore Strait Times is up 0.59%. Japan 10-year JGB yield rose 0.0111 to -0.160. Full Report Here Canada CPI unchanged at 1.9%, but core CPI accelerated US retail sales dropped -0.3%, first contraction in seven months Brexit negotiations still ongoing, Varadkar hopes to complete today Eurozone CPI finalized at 0.8%, core CPI at 1.0% UK CPI unchanged at 1.7%, core CPI rose to 1.7% Sterling firm despite DUP's concerns on Johnson's Brexit concessions New Zealand CPI slowed to 1.5%, RBNZ expected to cut further China warns of countermeasures after US House passed legislations supporting Hong... 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 USD/JPY Mid-Day Outlook Daily Pivots: (S1) 108.38; (P) 108.64; (R1) 109.12; More... Intraday bias in USD/JPY remains on the upside for 109.31 key resistance. Decisive break there will carry larger bullish implications next target will be 100% projection of 104.45 to 108.47 from 106.48 at 110.50. On the downside, below 108.15 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 106.48 support holds. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings GBP/USD Outlook: Cable Was Shaken Strongly by News that Proved to be False Canadian Inflation Trends Still Stable in September EUR/NZD Breaks Out XAU/USD Outlook: Gold Ticks Higher On Brexit / Trade Uncertainty But Techs Still Point Lower Brexit: Back To Square One Brexit Hopes Push The Pound Even Higher EUR/GBP Dives To 5-Month Lows, Downtrend In Progress Brexit Monitor: DUP Crucial For Getting Brexit Over The Finish Line US Stirs Tensions With China With Pro-Democracy Bill | CNH, E-Mini, AUD Can The FTSE 100 Outpace Its Peers? Fundamental Analysis | Technical Analysis In-depth Reports Who Is Most Exposed to a Global Manufacturing Slowdown? QE or Not QE? That Is Not the Question 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 21:45 NZD CPI Q/Q Q3 0.70% 0.60% 0.60% 21:45 NZD CPI Y/Y Q3 1.50% 1.40% 1.70% 23:30 AUD Westpac Leading Index M/M Sep -0.08% -0.28% 08:30 GBP DCLG House Price Index Y/Y Aug 1.30% 1.20% 0.70% 0.80% 08:30 GBP CPI M/M Sep 0.10% 0.20% 0.40% 08:30 GBP CPI Y/Y Sep 1.70% 1.80% 1.70% 08:30 GBP Core CPI Y/Y Sep 1.70% 1.70% 1.50% 08:30 GBP RPI M/M Sep -0.20% -0.10% 0.80% 08:30 GBP RPI Y/Y Sep 2.40% 2.70% 2.60% 08:30 GBP PPI - Input M/M Sep -0.80% 0.30% -0.10% -0.30% 08:30 GBP PPI - Input Y/Y Sep -2.80% -1.80% -0.80% -0.90% 08:30 GBP PPI - Output Y/Y Sep 1.20% 1.30% 1.60% 08:30 GBP PPI - Output M/M Sep -0.10% 0.10% -0.10% 0.00% 08:30 GBP PPI - Core Output M/M Sep -0.10% 0.10% 0.20% 08:30 GBP PPI - Core Output Y/Y Sep 1.70% 1.90% 2.00% 09:00 EUR Trade Balance (EUR) Aug 20.3B 18.6B 19.0B 17.5B 09:00 EUR CPI M/M Sep F 0.20% 0.20% 0.10% 09:00 EUR CPI Y/Y Sep F 0.80% 0.90% 0.90% 1.00% 09:00 EUR CPI - Core Y/Y Sep F 1.00% 1.00% 1.00% 0.90% 12:30 USD Retail Sales M/M Sep -0.30% 0.30% 0.40% 0.60% 12:30 USD Retail Sales ex Autos M/M Sep -0.10% 0.20% 0.00% 0.20% 12:30 CAD CPI M/M Sep -0.40% 0.00% -0.10% 12:30 CAD CPI Y/Y Sep 1.90% 2.00% 1.90% 12:30 CAD CPI Core - Common Y/Y 1.90% 1.80% 1.80% 12:30 CAD CPI Core - Median Y/Y 2.20% 2.10% 2.10% 12:30 CAD CPI Core - Trimmed Y/Y 2.10% 2.10% 2.10% 2.00% 14:00 USD Business Inventories Aug 0.30% 0.40% 14:00 USD NAHB Housing Market Index Oct 68 68

Action Forex Company Limited | Room 804, 8/F. , Prosperity Centre, 982 Canton Road, Mongkok, Kowloon 852 Hong Kong SAR China Unsubscribe mondemand.forex@blogger.com Update Profile | About Constant Contact Sent by contact@actionforex.com in collaboration with Try email marketing for free today!