Action Insight Daily Report 11-14-19

Poor Job Data Sends Aussie Lower, Yen Jumps as Risk Aversion Continues

Action Insight Daily Report 11-14-19 Poor Job Data Sends Aussie Lower, Yen Jumps as Risk Aversion Continues Australian Dollar tumbles broadly today after poor employment data, which suggests RBA is still on track for more easing. Additionally, the Aussie and Kiwi are weighed down by risk aversion in Asian markets. Hong Kong stocks lead others lower again on poor Chinese economic data, and continued unrest in the city. Investors are getting increasingly frustrated by the inability of the Chinese government to solve the deadlock. Yen is currently the strongest one, followed by Dollar and then Swiss Franc. Technically, AUD/USD's break of 0.6809 support suggests completion of rebound from 0.6670 at 0.6929. Further fall should be seen back to retest 0.6670 low. EUR/AUD's breach of 1.6181 minor support also suggests bottoming at 1.5976. Further rise is now likely for 1.6432 resistance. USD/JPY is pressing 108.64 support. Firm break there will be an early sign of completion of rebound from 104.45. Deeper fall would then be seen to 107.88 support for confirmation. Such development could prompt deeper selloff in other Yen crosses. In Asia, currently, Nikkei is down -0.62%. Hong Kong HSI is down -0.77%. China Shanghai SSE is up 0.42%. Singapore Strait Times is down -0.21%. Japan 10-year JGB yield is down -0.0257 at -0.073. Overnight, DOW rose 0.33%. S&P 500 rose 0.07%. NASDAQ dropped -0.05%. 10-year yield dropped -0.039 to 1.870, lost 1.9 handle. Full Report Here China production, retail sales, investment all missed expectations RBNZ Bascand: The economy is somewhere near a turning point Japan GDP grow slowed to just 0.2% annualized in Q3 Australia unemployment rate rose to 5.3%, AUD/JPY completed corrective rebound Fed Powell: Current monetary policy stance to remain as long as... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol China Data Reveal Further Downside Risks in Economy RBNZ Unanimously Left OCR at 1%. Rate Cuts Next Yet Still... China's CPI Soared to Highest Level in Almost 8 Years; Exports... Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Report Daily Pivots: (S1) 0.6820; (P) 0.6839; (R1) 0.6856; More... AUD/USD's break of 0.6809 support suggests that corrective recovery from 0.6670 has completed at 0.6929 already. Intraday bias is turned back to the downside for retesting 0.6670 first. Break will resume larger down trend. On the upside, above 0.6841 minor resistance will turn intraday bias neutral and bring recovery. But risk will stay on the downside as long as 0.6929 resistance holds. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings USD/CHF Could Face Hurdles If It Recovers Aust Oct Labour Force – Rising Unemployment Working Against RBA's Objectives Elliott Wave View: USD/JPY Remains Supported Asia Morning: US-China Hits A Snag The Aussie Tanks On Weak Employment Report | AUD/USD Market Brief: US-China Trade Talk Snag Overshadows Powell's Testimony German Recession? Wait Before Panicking USDTRY Flirts with 40-Day MA and 38.2% Fibonacci Within a Sideways Market Fundamental Analysis | Technical Analysis In-depth Reports China Data Reveal Further Downside Risks in Economy China's CPI Soared to Highest Level in Almost 8 Years; Exports Improved on Tariff Exemption 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 23:50 JPY GDP Q/Q Q3 P 0.10% 0.20% 0.30% 23:50 JPY GDP Deflator Y/Y Q3 P 0.60% 0.50% 0.40% 0:00 AUD Consumer Inflation Expectations Nov 3.60% 0:01 GBP RICS Housing Price Balance Oct -5% -3% -2% -3% 0:30 AUD Employment Change Oct -19.0K 16.2K 14.7K 12.5K 0:30 AUD Unemployment Rate Oct 5.30% 5.20% 5.20% 2:00 CNY Retail Sales Y/Y Oct 7.20% 7.80% 7.80% 2:00 CNY Industrial Production Y/Y Oct 4.70% 5.50% 5.80% 2:00 CNY Fixed Asset Investment YTD Y/Y Oct 5.20% 5.40% 5.40% 4:30 JPY Tertiary Industry Index M/M Sep 1.80% 0.20% 0.40% 0.30% 7:00 EUR Germany GDP Q/Q Q3 P -0.10% -0.10% 7:30 CHF Producer and Import Prices M/M Oct 0.00% -0.30% 7:30 CHF Producer and Import Prices Y/Y Oct -2.10% -2.00% 9:30 GBP Retail Sales M/M Oct 0.20% 0.00% 9:30 GBP Retail Sales Y/Y Oct 3.70% 3.10% 9:30 GBP Retail Sales ex-Fuel M/M Oct 0.30% 0.20% 9:30 GBP Retail Sales ex-Fuel Y/Y Oct 3.50% 3.00% 10:00 EUR Eurozone GDP Q/Q Q3 P 0.20% 0.20% 10:00 EUR Employment Change Q/Q Q3 P 0.20% 0.20% 13:30 USD PPI M/M Oct 0.20% -0.30% 13:30 USD PPI Y/Y Oct 0.90% 1.40% 13:30 USD PPI Core M/M Oct 0.20% -0.30% 13:30 USD PPI Core Y/Y Oct 1.60% 2.00% 13:30 USD Initial Jobless Claims (Nov 8) 215K 211K 13:30 CAD New Housing Price Index M/M Sep 0.20% 0.10% 15:30 USD Natural Gas Storage 34B 16:00 USD Crude Oil Inventories 7.9M

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