Action Insight Mid-Day Report 11-13-19

Swiss Franc and Yen Jump on Risk Aversion, Kiwi Maintains Gain

Action Insight Mid-Day Report 11-13-19 Swiss Franc and Yen Jump on Risk Aversion, Kiwi Maintains Gain New Zealand Dollar remains the strongest one today as boosted by RBNZ's hold. But risk aversion is picking up momentum and sends Swiss Franc and Yen generally higher. Hong Kong stocks led the global markets lower again as unrest in the city continues. Neither the Hong Kong nor the Chinese government display any political intelligence in providing any resolution. Traders also turned cautious after US President Donald Trump warned yesterday that tariffs on China would be "substantially" higher if both sides fail to reach a deal. On the other hand, Australian and Canadian Dollars are the weakest. Technically, Yen crosses are generally seen as in consolidation for now, including USD/JPY, EUR/JPY and GBP/JPY. But break of 108.64 minor support in USD/JPY will be an early sign of sustainable strength in the Yen and could bring deeper fall to 117.88 structural support. In that case, we might see selloff in other Yen crosses accelerates. AUD/USD is now edging closer to 0.6809 near term support. Break will indicate completion of recent rebound from 0.6677 and pave the way back to this low. In other markets, DOW open lower by -0.3%. 10-year yield is down -0.0477 at 1.870, back below 1.9 handle. In Europe, FTSE is down -0.35%. DAX is down -0.52%. CAC is down -0.18%. German 10-year yield is down -0.052 at -0.301, back below -0.3 handle. Earlier in Asia, Nikkei dropped -0.85%. Hong Kong HSI dropped -1.82%. China Shanghai SSE dropped -0.33%. Singapore Strait Times dropped -0.87%. Japan 10-year JGB yield dropped -0.0115 to -0.047. Full Report Here US CPI picked up t 1.8%, but core slowed to 2.3% SNB Jordan emphasized negative rates and readiness to intervene as necessary Eurozone industrial production rose 0.1% mom, vs expectation of -0.2% mom UK CPI slowed to 1.5% yoy, missed expectation of 1.6% yoy 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/JPY Mid-Day Outlook Daily Pivots: (S1) 108.87; (P) 109.08; (R1) 109.24; More.. Intraday bias in USD/JPY remains neutral first, and with 108.64 minor support intact, further rise is in favor. On the upside, break of 109.48 will resume the rise from 104.45 to 100% projection of 104.45 to 108.47 from 106.48 at 110.50. However, break of 108.64 will suggest short term topping at 109.48. Rebound from 104.45 could have completed on bearish divergence condition in 4 hour and daily MACD, after failing to sustain above 109.31 key resistance. Intraday bias will be turned back to the downside for 107.88 support. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings US: Inflation Stays on Target in October US CPI Shouldn't Alter Fed's View Market Brief: Risk OFF ahead of US CPI and Powell testimony Markets Await Powell, Steady Inflation, IEA Exemplifies Gloomy Demand Outlook, Gold Stabilizes NZD Gains Are Shortsighted Investors Desperate For Trade Deal Oil Price In A Broad Range Below $58.00 Resistance Area EURJPY Gains Negative Momentum, 200-Day MA In Its Grasp NZDUSD Sharply Up But Cautiously Bullish RBNZ Catapults Kiwi Higher, Trump Decides On EU Tariffs 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% 00:30 AUD Wage Price Index Q/Q Q3 0.50% 0.50% 0.60% 0.50% 01:00 NZD RBNZ Interest Rate Decision 1.00% 0.75% 1.00% 02:00 NZD RBNZ Press Conference 07:00 EUR Germany CPI M/M Oct 0.10% 0.10% 0.10% 07:00 EUR Germany CPI Y/Y Oct 1.10% 1.10% 1.10% 09:30 GBP RPI M/M Oct -0.20% -0.10% -0.20% 09:30 GBP RPI Y/Y Oct 2.10% 2.60% 2.40% 09:30 GBP DCLG House Price Index Y/Y Jul 1.30% 1.50% 1.30% 09:30 GBP CPI M/M Oct -0.20% 0.00% 0.10% 09:30 GBP CPI Y/Y Oct 1.50% 1.60% 1.70% 09:30 GBP Core CPI Y/Y Oct 1.70% 1.70% 1.70% 09:30 GBP PPI - Input M/M Oct -1.30% -1.10% -0.80% -0.90% 09:30 GBP PPI - Input Y/Y Oct -5.10% -1.80% -2.80% -3.00% 09:30 GBP PPI - Output M/M Oct -0.10% 0.10% -0.10% 09:30 GBP PPI - Output Y/Y Oct 0.80% 1.30% 1.20% 09:30 GBP PPI - Core Output M/M Oct -0.10% 0.10% -0.10% 09:30 GBP PPI - Core Output Y/Y Oct 1.30% 1.90% 1.70% 10:00 EUR Eurozone Industrial Production M/M Sep 0.10% -0.20% 0.40% 13:30 USD CPI M/M Oct 0.40% 0.30% 0.00% 13:30 USD CPI Y/Y Oct 1.80% 1.70% 1.70% 13:30 USD CPI Core M/M Oct 0.20% 0.20% 0.10% 13:30 USD CPI Core Y/Y Oct 2.30% 2.40% 2.40%

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