Action Insight Mid-Day Report 10-4-19

Dollar Directionless after Mixed Non-Farm Payrolls

Action Insight Mid-Day Report 10-4-19 Dollar Directionless after Mixed Non-Farm Payrolls Dollar is relatively directionless in after mixed job data. The headline number is a slight miss and wage growth disappoints. Yet, unemployment rate dropped to lowest level since 1969. For today, Sterling is the weakest one as it looks like EU is not so happy with UK's new Brexit plan. Yen is the second weakest, followed by Dollar. Swiss Franc, on the other hand, is the strongest, followed by New Zealand and then Canadian Dollar. Technically, USD/CHF dips sharply today but stays well above 0.9843 support further rise is till expected. EUR/USD's recovery from 1.0879 appears to be losing some upside momentum. USD/JPY is staging a strong recovery and break of 107.39 minor resistance will turn focus back to 108.47 resistance. In Europe, currently, FTSE is up 0.55%. DAX is up 0.28%. CAC is up 0.43%. German 10-year yield is up 0.009 at -0.579. Earlier in Asia, Nikkei rose 0.32%. Hong Kong HSI dropped -1.11%. Singapore Strait Times dropped -0.31%. Japan 10-year JGB yield dropped -0.0217 to -0.211. Full Report Here US NFP rose 136k, unemployment rate dropped to 3.5% Tusk: EU remains open but still unconvinced by Johnson's Brexit proposals German Maas: Europe is united and ready to negotiate with US... 10-year yield heading back to 1.429 low as non-farm payrolls watched EU Malmstrom still working on negotiated solution with US on tariffs Japan Aso said no immediate need for stimulus to counter sales... Fed Clarida will take each FOMC meeting one at a time   Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Concerns over Capital Outflow in Hong Kong Exaggerated US Crude Oil Inventory Gained Last Week, In Contrast to API's... Brexit Update – Johnson's New Proposal Unlikely Resolves Irish Border Problem Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9918; (P) 0.9972; (R1) 1.0024; More... Intraday bias in USD/CHF retreats sharply with a temporary top formed at 1.0027. Some consolidations could be seen but further rise is expected as long as 0.9843 support holds. On the upside, break of 1.0027 will extend the rally from 0.9659 to 78.6% retracement of 1.0237 to 0.9659 at 1.0113 next. Break will target retest on 1.0237 high. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Market Brief: NFP Set To Disappoint? USD/CAD In Battle With 1.3340 Familiar Resistance CAD/JPY At Risk Of Minor Bounce Before New Drop As NFP Canada PMI Looms Market Brief: All Calm Ahead Of NFP EUR/USD Outlook: The Euro Remains Constructive After Thursday's Strong Upside Rejection, US Jobs Data In Focus Gold Spot The Upside Prevails We're Running Low On Gas Maverick Fundamental Analysis | Technical Analysis In-depth Reports Concerns over Capital Outflow in Hong Kong Exaggerated Low Probability of a Follow Up November RBA Move Despite Market Pricing of ~50% Chance US-China Trade: 60% Probability of Interim Deal Next Week Political Pressure, Trade Policy and Potential Market Effect What To Expect From Central Banks In The Next Global Downturn 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 Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 01:30 AUD Retail Sales M/M Aug 0.40% 0.50% -0.10% 0.00% 12:30 USD Nonfarm Payrolls Sep 136K 140K 130K 168K 12:30 USD Unemployment Rate Sep 3.50% 3.70% 3.70% 12:30 USD Average Hourly Earnings M/M Sep 0.00% 0.30% 0.40% 12:30 USD Trade Balance (USD) Aug -54.9B -54.7B -54.0B 12:30 CAD International Merchandise Trade (CAD) Aug -0.96B -1.1B -1.1B -1.38B 14:00 CAD Ivey PMI Sep 62.6 60.6

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