Action Insight Mid-Day Report 10-31-19

Yen Jumps on Renewed US-China Trade Concerns, Dollar Extends Post FOMC Selloff

Action Insight Mid_Day Report 10-31-19 Yen Jumps on Renewed US-China Trade Concerns, Dollar Extends Post FOMC Selloff Yen rises notably today as focuses turn back to US-China trade negotiations after central bank activities and economic data releases. There are renewed concerns that even if a phase one deal could be reached, the next phase(s) would be very difficult. Dollar remains generally soft and is currently trading as the weakest for today. Below target inflation reading provide no support to the greenback, as it's weighed down by post FOMC selloff. Canadian Dollar is also soft after worse than expected GDP data. European majors are generally mixed. Technically, USD/JPY's break of 108.25 minor support suggests rejection by 109.31 resistance. More importantly, recent rebound from 104.45 could merely be a correction. break of 106.48 support will reaffirm medium term bearishness and target 104.45 low again. EUR/USD has yet to break through 1.1179 resistance despite yesterday's rebound. This will remain a focus before weekly close. Break will confirm resume recent rise from 1.0879. In Europe, currently, FTSE is down -0.88%. DAX is down -0.01%. CAC is down -0.22%. German 10-year yield is down -0.499 at -0.401, back below -0.4 handle. Earlier in Asia, Nikkei rose 0.37%. Hong Kong HSI rose 0.90%. China Shanghai SSE dropped -0.35%. Singapore Strait Times rose 0.68%. Japan 10-year JGB yield dropped -0.0194 to -0.140. Full Report Here Canada GDP grew 0.1% mom in Aug, three month grow slowed... US PCE slowed to 1.4%, core PCE slowed to 1.7% US initial jobless claims rose to 218k above expectation of 215k Sentiments weighed down by talk of difficulties in US-China trade talks... ECB de Guindos: Monetary policy not reached limits, but negative impact... Eurozone GDP grew 0.2% in Q3, CPI slowed to 0.7% in... Eurozone unemployment rate unchanged at 7.5%, lowest since 2008 BoJ stands pat, new forward guidance indicates clear easing bias China PMI manufacturing dropped to 49.3, sixth straight months in contraction Aussie jumps after strong building permits and receding RBA cut bets Dollar bears took control as Fed's pause seen as non-committal Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Turning Dovish, BOC Discussed about Insurance Rate Cut for First Time... Fed Signals to Pause after a Third Rate Cut Brexit Update – Early Elections to be Held in 5 Weeks Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/JPY Mid-Day Outlook Daily Pivots: (S1) 108.61; (P) 108.95; (R1) 109.18; More... USD/JPY's break of 108.25 minor support suggests that a short term top is formed at 109.28, ahead of 109.31 key resistance, on bearish divergence condition. Intraday bias is turned back to the downside for 106.48 support first. Break there will confirm completion of rebound from 104.45 and bring retest of this low. For now, risk will stay on the downside as long as 109.28/31 holds, in case of recovery. However, decisive break of 109.31 will be an early sign of medium term reversal and target 112.40 resistance next. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Canadian August GDP Soft, But Details Better Market Brief: Dollar Extends Post-Fed Slide US Open – Phase 2 Doubts, Fed/BOJ Aftermath, Oil, Gold USD/JPY Outlook: Yen Rallies On Dovish Fed And Fresh Safe-Haven Demand On US/China Pessimism Everything Tends To Support JPY Appreciation USD/JPY Returns To Neutrality, Bulls Keep Waiting Above 109.50 S&P500: The Long & Short Of It | SPX, SYS, ORLY, EBAY, TXN Dollar Chooses Its Path US Stocks Hit New Record High As Fed Shifts To 'Assessing The Appropriate Path' RBA on Hold in November; Growth and Inflation Forecasts for 2020 Unchanged Northern Exposure: FOMC Moves from Pre-emptive to Reactive Stance Fundamental Analysis | Technical Analysis In-depth Reports Fed Signals to Pause after a Third Rate Cut FOMC Delivers Third Rate Cut In As Many Meetings FOMC Review Fed Is Playing The Waiting Game Bank of Canada Holds, But Is Increasingly Worried About Risks Turning Dovish, BOC Discussed about Insurance Rate Cut for First Time In October RBA on Hold in November; Growth and Inflation Forecasts for 2020 Unchanged Options for Effective QE Strategy for the RBA Brexit Update - Early Elections to be Held in 5 Weeks Brexit Monitor: Election Is An EU Referendum In Disguise – Difficult To Predict The Outcome From Polls Gaming Out U.K. Election Scenarios Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 21:45 NZD Building Permits M/M Sep 7.20% 2.30% 0.80% 0.90% 23:50 JPY Industrial Production M/M Sep P 1.40% 0.40% -1.20% 00:00 NZD ANZ Business Confidence Oct -42.4 -54.1 -53.5 00:01 GBP GfK Consumer Confidence Oct -14 -13 -12 00:30 AUD Private Sector Credit M/M Sep 0.20% 0.30% 0.20% 00:30 AUD Import Price Index Q/Q Q3 0.40% 0.50% 0.90% 01:30 AUD Building Permits M/M Sep 7.60% 0.10% -1.10% -0.60% 02:00 CNY Manufacturing PMI Oct 49.3 49.8 49.8 02:00 CNY Non-Manufacturing PMI Oct 52.8 53.7 53.7 03:30 JPY BoJ Interest Rate Decision -0.10% -0.10% -0.10% 03:30 JPY BoJ Outlook Report Q3 05:00 JPY Housing Starts Y/Y Sep -4.90% -6.70% -7.10% 05:00 JPY Consumer Confidence Index Sep 36.2 35.5 35.6 07:00 EUR Germany Retail Sales M/M Sep 0.10% 0.30% 0.50% -0.10% 07:45 EUR France CPI M/M Oct P -0.10% -0.30% -0.40% 07:45 EUR France CPI Y/Y Oct P 0.90% 1.10% 1.10% 10:00 EUR GDP Q/Q Q3 P 0.20% 0.10% 0.20% 10:00 EUR Unemployment Rate Sep 7.50% 7.40% 7.40% 7.50% 10:00 EUR CPI Y/Y Oct P 0.70% 0.70% 0.80% 10:00 EUR CPI - Core Y/Y Oct P 1.10% 1.00% 1.00% 11:00 EUR Italy GDP Q/Q Q3 P 0.10% 0.20% 0.00% 0.10% 11:30 USD Challenger Job Cuts Y/Y Oct -33.50% -24.80% 12:30 CAD GDP M/M Aug 0.10% 0.20% 0.00% 12:30 CAD Raw Material Price Index Sep 0.00% 2.50% -1.80% 12:30 CAD Industrial Product Price M/M Sep -0.10% 0.20% 0.20% 12:30 USD Personal Income M/M Sep 0.30% 0.30% 0.40% 0.50% 12:30 USD Personal Spending Sep 0.20% 0.30% 0.10% 0.20% 12:30 USD PCE - Price Index M/M Sep 0.00% 0.10% 0.00% 12:30 USD PCE - Price Index Y/Y Sep 1.30% 1.40% 1.40% 12:30 USD Core PCE - Price Index M/M Sep 0.00% 0.10% 0.10% 12:30 USD Core PCE - Price Index Y/Y Sep 1.70% 1.70% 1.80% 12:30 USD Initial Jobless Claims (Oct 25) 218K 215K 212K 213 K 12:30 USD Employment Cost Index Q3 0.70% 0.70% 0.60% 13:45 USD Chicago PMI Oct 47.6 47.1 14:30 USD Natural Gas Storage 73B 87B

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!