Action Insight Mid-Day Report 11-12-19

Dollar Higher Awaiting Trump's Trade Speech, Sterling Pares Gains after Job Data

Action Insight Mid-Day Report 11-12-19 Dollar Higher Awaiting Trump's Trade Speech, Sterling Pares Gains after Job Data The financial markets are relatively quiet today. Global stocks are generally higher but gains are limited. Treasury yields are mixed with US benchmark 10-year yield mildly lower while Germany 10-year yield is mildly higher. Dollar is currently the strongest one for today. But the rally attempt is half-hearted. Focus will turn to US President Donald Trump's speech on trade policy for the next move. Meanwhile, New Zealand Dollar is the weakest one as markets are now expecting an RBNZ cut tomorrow. Sterling pares back some gains after poor job data. Euro is mixed, shrugging off improvement in German economic sentiment. Technically, EUR/USD breaches last week low and is on track to 1.0879 support. USD/CHF recovers ahead of 0.9911 minor support, and further rise is in favor to 1.0027. USD/JPY also recovers well above 108.64 minor support, maintaining near term bullishness. Other Yen crosses are staying in consolidation. In Europe, currently, FTSE is up 0.41%. DAX is up 0.52%. CAC is up 0.24%. German 10-yaer yield is up 0.0065 at -0.236. Earlier in Asia, Nikkei rose 0.81%. Hong Kong HSI rose 0.52%. China Shanghai SSE rose 0.17%. Singapore Strait Times rose 0.84%. Japan 10-year yield rose 0.0292 to -0.036. Full Report Here German ZEW economic sentiment rose to -2.1, growing hope of international... UK employment dropped -58k, largest contraction in four years RBNZ inflation expectations dropped, solidifying case for another rate cut Australia NAB business confidence and conditions improved, but further stimulus still... Sterling holding on to Farage triggered gains, but GBP/CHF range bound Trump said to delay decision on EU auto tariffs by six... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol RBNZ Preview – Market Divided over Another Rate Cut Move This... 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 EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1019; (P) 1.1031; (R1) 1.1045; More... EUR/USD's fall from 1.1175 is still in progress despite diminishing downside momentum. As noted before, corrective rebound from 1.0879 should have completed at 1.1175 already. Deeper decline would be seen to retest 1.0879 low. Break will resume larger down trend from 1.2555. On the upside, above 1.1043 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1175 resistance holds. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Stocks on Gold ahead of Trump, ZEW Expectations, Oil Rises, Gold Steady European Update – US/EU Tariffs, UK, Gold, Oil EUR/GBP Outlook: Bias Remains With Bears Despite Failure To Close Below 3-Week Range Floor Kiwi Weakens Ahead Of RBNZ's Interest Rate Decision… WTI Oil Futures Resume Uptrend But Shift Sideways As Momentum Dries When The Market Volcano Erupts? RBNZ To Slash Rates, More Blues For The Kiwi? Caution Returns On US-China Trade Uncertainty RBNZ November Preview GBPUSD Looks Mildly Positive In Short-Term, Resistance Line In Focus 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 23:50 JPY Money Supply M2+CD Y/Y Oct 2.50% 2.50% 2.40% 0:30 AUD NAB Business Confidence Oct 2 0 0:30 AUD NAB Business Conditions Oct 3 2 2:00 NZD RBNZ Inflation Expectations Q/Q Q4 1.80% 1.86% 6:00 JPY Machine Tool Orders Y/Y Oct P -37.40% -35.50% 9:30 GBP Claimant Count Change Oct 33.0K 24.2K 21.1K 9:30 GBP ILO Unemployment Rate (3M) Sep 3.80% 3.90% 3.90% 9:30 GBP Average Earnings Including Bonus 3M/Y Sep 3.60% 3.80% 3.80% 3.70% 9:30 GBP Average Earnings Excluding Bonus 3M/Y Sep 3.60% 3.80% 3.80% 10:00 EUR Germany ZEW Economic Sentiment Nov -2.1 -13.2 -22.8 10:00 EUR Germany ZEW Current Situation Nov -24.7 -22 -25.3 10:00 EUR Eurozone ZEW Economic Sentiment Nov -1 -11.5 -23.5 11:00 USD NFIB Business Optimism Index Oct 102.4 103.5 101.8

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