Action Insight Mid-Day Report 10-2-19

Dollar Regains Control With Job Data, But Yen Much Stronger

Action Insight Mid-Day Report 10-2-19 Dollar Regains Control With Job Data, But Yen Much Stronger Dollar regains some control and stays firm after ADP job report. Though, it's outshone clearly by Yen which is lifted by risk aversion. New Zealand Dollar comes in as second strongest as it's paring some of recent losses. On the other hand, Swiss Franc drops notably after poor CPI data, as well as SNB's pledge to maintain negative rates. Sterling is also week as markets are not quite buying into Prime Minister Boris Johnson's new Brexit proposal. Technically, USD/CHF staged a U-turn today and breaks yesterday's high of 1.0016. Recent rebound from 0.9695 is resuming for 1.0113 fibonacci level next. AUD/USD is still pressing 0.6677 support despite another breach today. Decisive break there will confirm resumption of medium term down trend. USD/CAD recovers after breaching 1.3209 minor support. Further rise is still in favor through 1.3310 resistance eventually. In Europe, currently, FTSE is down -2.17%. DAX is down -1.30%. CAC is down -1.65%. German 10-year yield is up 0.0238 at -0.533. Earlier in Asia, Nikkei dropped -0.49%. Hong Kong HSI dropped -0.19%. China was on holiday. Singapore Strait Times dropped -1.35%. Japan 10-year JGB yield dropped -0.0168 to -0.167. Full Report Here US ADP added 135k jobs, businesses turned more cautious in hiring UK tabled fair and reasonable compromise Brexit proposal to EU SNB Maechler: Negative interest rate absolutely needed and essential UK PMI construction dropped to 43.3, remained mired in a downturn German Scholz: We're well prepared to tackle economic crisis Swiss CPI slowed to 0.1% yoy in September, missed expectation of... UK BRC shop price dropped -0.6%, falling demand squeezes retailers' tight... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Brexit Update – Johnson's New Proposal Unlikely Resolves Irish Border Problem 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 USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9896; (P) 0.9957; (R1) 0.9990; More... USD/CHF drew strong support from 4 hour 55 MACD and rebounded. Break of 1.0016 suggests resumption of whole rise from 0.9659 low. Intraday bias is back on the upside for 78.6% retracement of 1.0237 to 0.9659 at 1.0113 next. On the downside, break of 0.9843 support is needed to indicate short term reversal. Otherwise, near term outlook will remain cautiously bullish in case of retreat. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Gold Set To Resume Rally Amid Renewed Falls For Yields, Stocks European Update – PMI, Economy, Brexit, Gold, Oil US Open – Hong Kong, Mini-Recession, Stocks, Oil, Gold Markets Shaken By US Coupling Special Report: US Non-Farm Payroll Daily Forex Technical Strategy All Bets Off USD Weakens As US MFG Data Hit Lowest Level In Ten Years Currencies: USD Declines, Albeit Only Modestly, After Poor ISM Market Brief: Cable Traders Water Ahead Of BoJo's Final Proposal Fundamental Analysis | Technical Analysis In-depth Reports ECB Snaps, Crackles, then Watches Rates Pop RBA: A Gentle Turn To More Rate Cuts 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. Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:00 GBP BRC Shop Price Index Y/Y Aug -0.60% -0.40% 23:50 JPY Monetary Base Y/Y Sep 3.00% 3.40% 2.80% 05:00 JPY Consumer Confidence Index Aug 35.6 38.2 37.1 06:30 CHF CPI M/M Sep -0.10% 0.10% 0.00% 06:30 CHF CPI Y/Y Sep 0.10% 0.30% 0.30% 08:30 GBP Construction PMI Sep 43.3 45 45 12:15 USD ADP Employment Change Sep 135K 140K 195K 14:30 USD Crude Oil Inventories 2.0M 2.4M

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