Action Insight Daily Report 11-13-19

Forex Shrugs Risk Aversion, Kiwi rebounds after RBNZ Hold

Action Insight Daily Report 11-13-19 Forex Shrugs Risk Aversion, Kiwi rebounds after RBNZ Hold Asian stocks are broadly lower today, as lead by free fall in Hong Kong stocks. But the development is largely shrugged off by the forex markets. New Zealand dollar rebound strongly after RBNZ surprisingly stands pat today. Swiss Franc and Euro are following as second strongest. On the other hand, Canadian Dollar, US Dollar and Yen are currently the weaker ones. Dollar softened overnight after 10-year yield lost the momentum to 2% handle and closed lower. Technically, USD/CHF's break of 0.9911 minor support dampens our original bullish view and suggests that consolidation pattern from 1.0027 is extending with another decline. Yen crosses are staying in consolidations. In particular, price actions of EUR/JPY from 121.46 and of GBP/JPY from 141.50 are clearly corrective. We'd expect a break through respective high soon to resume recent rally. In Asia, Nikkei dropped -0.85%. Hong Kong HSI is down -2.09%. China Shanghai SSE is down -0.42%. Singapore Strait Times is down -0.72%. Japan 10-year JGB yield is down -0.0162 to -0.052. Overnight, DOW closed flat. S&P 500 rose 0.16%. NASDAQ rose 0.26%. 10-year yield dropped -0.034 to 1.909. Full Report Here Australia wage price index rose 0.5% qoq, consumer sentiment rose 4.5% Fed Kashkari takes comfort from uninverted yield curve Trump warned of substantially higher tariffs if no deal with China RBNZ stands pat, long-term inflation expectations remain anchored Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol RBNZ Unanimously Left OCR at 1%. Rate Cuts Next Yet Still... China's CPI Soared to Highest Level in Almost 8 Years; Exports... CFTC Commitments of Traders – Traders Remained Bullish in Crude Oil... Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CHF Daily Outlook Daily Pivots: (S1) 0.9914; (P) 0.9940; (R1) 0.9956; More... USD/CHF's break of 0.9911 minor support dampens our original bullish view. Consolidation from 1.0027 is extending with another falling leg. Intraday bias is back on the downside for 0.9851 support, and possibly below. On the upside, break of 0.9978 will target 1.0027 first. Break will resume whole rally from 0.9659. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Asia Morning: RBNZ 'Ok Boomers' Kiwi First Impressions: RBNZ Keeps the OCR at 1.0% Gold Price Moves Further Into The Red Zone RBNZ Hold Rate And Refrain From A Dovish Meeting – Is The Low In? | AUD/NZD Market Brief: Trump's Speech Fails To Inject Volatility Mighty Dollar Eyes Powell's Testimony and US Data Australian Wages and Jobs Data Could Hold Key to Future Rate Cuts Fundamental Analysis | Technical Analysis In-depth Reports China's CPI Soared to Highest Level in Almost 8 Years; Exports Improved on Tariff Exemption 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 23:30 AUD Westpac Consumer Confidence Nov 4.50% -5.50% 23:50 JPY Domestic Corporate Goods Price Index M/M Oct -0.30% 1.20% 0.00% 23:50 JPY Domestic Corporate Goods Price Index Y/Y Oct -0.40% -0.30% -1.10% 0:30 AUD Wage Price Index Q/Q Q3 0.50% 0.50% 0.60% 0.50% 1:00 NZD RBNZ Interest Rate Decision 1.00% 0.75% 1.00% 2:00 NZD RBNZ Press Conference 7:00 EUR Germany CPI M/M Oct 0.10% 0.10% 7:00 EUR Germany CPI Y/Y Oct 1.10% 1.10% 9:30 GBP RPI M/M Oct -0.10% -0.20% 9:30 GBP RPI Y/Y Oct 2.60% 2.40% 9:30 GBP DCLG House Price Index Y/Y Jul 1.50% 1.30% 9:30 GBP CPI M/M Oct 0.00% 0.10% 9:30 GBP CPI Y/Y Oct 1.60% 1.70% 9:30 GBP Core CPI Y/Y Oct 1.70% 1.70% 9:30 GBP PPI - Input M/M Oct 0.20% -0.80% 9:30 GBP PPI - Input Y/Y Oct -1.80% -2.80% 9:30 GBP PPI - Output M/M Oct 0.10% -0.10% 9:30 GBP PPI - Output Y/Y Oct 1.30% 1.20% 9:30 GBP PPI - Core Output M/M Oct 0.10% -0.10% 9:30 GBP PPI - Core Output Y/Y Oct 1.90% 1.70% 10:00 EUR Eurozone Industrial Production M/M Sep -0.20% 0.40% 13:30 USD CPI M/M Oct 0.30% 0.00% 13:30 USD CPI Y/Y Oct 1.70% 1.70% 13:30 USD CPI Core M/M Oct 0.20% 0.10% 13:30 USD CPI Core Y/Y Oct 2.40% 2.40%

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