Action Insight Mid-Day Report 10-21-19

Brexit and Trade Optimism, Sterling Firms Up While Yen Softens

Action Insight Mid-Day Report 10-21-19 Brexit and Trade Optimism, Sterling Firms Up While Yen Softens Yen trades broadly lower today, following rally in treasury major global treasury yields. Investors are generally optimistic that, despite all the obstacles, UK Prime Minister Boris Johnson is able to deliver orderly Brexit eventually. Comments from China and US regarding trade negotiations were also affirmative. For now, Euro follows as the second weakest, then Swiss Franc. Commodity currencies are generally higher, followed by Sterling. Technically, GBP/USD's rally resumes after brief consolidation and it's heading to 1.3205 projection level next. EUR/GBP is eyeing 0.8575 temporary low and break will resume whole fall form 0.9324. USD/CAD is pressing 1.3098 projection level and break will pave the way back to 1.3016 low. EUR/AUD is eyeing 1.6203 support. Break will indicates near term bearish reversal. That will raise the chance of a break of 0.6894 resistance in AUD/USD. In Europe, currently, FTSE is up 0.23%. DAX is up 0.87%. CAC is up 0.29%. German 10-year yield is up 0.0359 at -0.343. Earlier in Asia, Nikkei rose 0.25%. Hong Kong HSI rose 0.02%. China Shanghai SSE rose 0.05%. Singapore Strait Times rose 0.80%. Japan 10-year JGB yield rose 0.0144 to -0.135. Full Report Here US Ross: Trade deal with China doesn't have to be in... UK Johnson to push "yes or no" meaningful vote on Brexit... Bundesbank: Few signs of sustainably recovery in exports and stabilization of... AUD/JPY and NZD/JPY rise on strength in treasury yields Sterling jumps as Johnson said to have enough vote for Brexit... Chinese VP Liu said substantial progress made for a phased US-China... Lagarde: ECB negative rates hasn't hit bottom yet Sterling mildly lower as UK seeks another Brexit extension UK Johnson forced to seek Brexit delay after losing Letwin amendment Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Traders Trimmed on Higher Precious Metal... CFTC Commitments of Traders – Traders Trimmed Bets on EUR and... Sterling Rally in Jeopardy after Johnson's Defeat, Dollar Selloff Exaggerated Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.2887; (P) 1.2933; (R1) 1.3027; More.... GBP/USD's rise resumes after brief consolidations. Intraday bias is back on the upside. Current rise from 1.1958 should target 161.8% projection of 1.1958 to 1.2582 from 1.2195 at 1.3205 next. On the downside, below 1.2749 minor support will turn intraday bias neutral and bring consolidations, before staging another rise. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Market Brief: Brexit Votes and Canadian Elections in Focus Precious Metals Update: Silver Breaking Out Pound Still Hopes for Brexit US Open – Stocks, Johnson's Brexit Push, Oil, Gold AUD/USD Outlook: Extended Bulls Crack Daily Cloud Top And Look For Further Advance As Trade Tensions Ease EUR/USD Outlook: Strong Three-Week Advance May Take A Breather Before Attack At 200DMA JPY Set For A Rise Amid Risk Events Sterling Falls From Five-Month High As Brexit Final Outcome Remains Unclear Sterling's Best Monthly Performance Since 2009 What's Ahead: More Brexit Votes, Pound Volatility Or Fully Uncertainty? Fundamental Analysis | Technical Analysis In-depth Reports RBA: Policy Debate Hinges Around Risks of Ultra Low Rates As Lagarde Prepares to Take Over the Helm, Troubles Brew at the ECB; How Will Euro be Affected? 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 US-China Trade: 'Phase 1' Trade-Deal Not a Game-Changer for the Global Economy What To Expect From Central Banks In The Next Global Downturn Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:00 GBP Rightmove House Price Index M/M Oct 0.50% -0.20% 23:50 JPY Trade Balance (JPY) Sep -0.10T -0.17T -0.13T -0.12T 4:30 JPY All Industry Activity Index M/M Aug 0.00% -0.10% 0.20% 6:00 EUR Germany PPI M/M Sep 0.10% -0.10% -0.50% 6:00 EUR Germany PPI Y/Y Sep -0.10% -0.30% 0.30% 10:00 EUR German Buba Monthly Report

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