Action Insight Mid-Day Report 11-27-19

Dollar Lifted Mildly by Solid Durables, Euro and Swiss Soft

Action Insight Mid-Day Report 11-27-19 Dollar Lifted Mildly by Solid Durables, Euro and Swiss Soft Dollar trades generally higher today as supported by better than expected economic data, in particular, durable goods orders. Though, Sterling is so far even stronger, as consolidations extend. On the other hand, Euro is the worst performing one, followed by Swiss Franc. For the week so far, the Pound is also the strongest while Yen is the weakest on strong risk appetite. Technically, the bullish outlook in USD/CHF remains unchanged. Consolidation from 1.0027 should have completed at 0.9868 and further rise should be seen back to 1.0027. Meanwhile, EUR/USD edges lower and is eyeing 1.0989 support. Break will resume the fall from 1.1175 to retest 1.0879 low. While Sterling strengthen's today, GBP/USD, EUR/GBP and GBP/JPY are staying in sideway trading, awaiting breakout. In Europe, FTSE is currently up 0.48%. DAX is up 0.27%. CAC is down -0.04%. German 10-year yield is up 0.0068 at -0.364. Earlier in Asia, Nikkei rose 0.28%. Hong Kong HSI rose 0.15%. China Shanghai SSE dropped -0.13%. Singapore Strait Times rose 0.24%. Japan 10-year JGB yield dropped -0.0115 to -0.110. Full Report Here US Q3 GDP grew 2.1%, revised up from 1.9% US durable goods orders rose 0.6%, ex-transport orders rose 0.6% US initial jobless claims dropped to 213k vs exp 223k Lagarde: ECB tasked to ensure Euro is safe and stable New Zealand trade deficit narrowed slightly to NZD 1B BoJ Sakurai: Increasing need to be mindful of side-effect of low-rate... Trump: We're in the final throes of trade deal with China Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol UK Election – Conservatives Majority May Lead to Smooth, but Hard,... PBOC to Ease Monetary Policy Further Despite Strong Inflation Trump and Xi, Trade Deal and Hong Kong Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9962; (P) 0.9975; (R1) 0.9986; More... USD/CHF's rise continues today and intraday bias remains on the upside at this point. Consolidation from 1.0027 should have completed at 0.9869. Further rise should be seen to retest 1.0027 first. Break will resume whole rise from 0.9659 to 78.6% retracement of 1.0237 to 0.9659 at 1.0113. On the downside, however, break of 0.9960 minor support will turn bias to the downside to extend the consolidation with another falling leg. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings U.S. Economic Growth Revised Up Slightly to 2.1% in the Third Quarter  Another Forgettable Day USD/JPY Outlook: The Pair Consolidating Gains Above 109.00 RBA to Cut the Cash Rate to 0.25% by June 2020; QE to Follow FTSE Trying to Break Key Resistance as Elections Near AUDUSD Eases Sideways as 23.6% Fibonacci Continues to Halt Declines The RBA Struggles To Convince Japanese Retail Sales To Take A Tumble In October As Sales Tax Hiked Again Trump Keeps The Trade Hype Train Rolling, Stocks Levitate Fundamental Analysis | Technical Analysis In-depth Reports UK Election - Conservatives Majority May Lead to Smooth, but Hard, Brexit RBA to Cut the Cash Rate to 0.25% by June 2020; QE to Follow PBOC to Ease Monetary Policy Further Despite Strong Inflation The 2020 Election and the Economy: Part I Scraping the Bottom RBA: Ideas for Unconventional Monetary Policy 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 20:00 NZD RBNZ Financial Stability Report 21:45 NZD Trade Balance (NZD) Oct -1013M -1000M -1242M -1319M 00:01 GBP BRC Shop Price Index Y/Y Oct -0.50% -0.40% 00:30 AUD Construction Work Done Q3 -0.40% -1.00% -3.80% -2.80% 07:00 EUR Germany Import Price Index M/M Oct -0.10% -0.20% 0.60% 09:00 CHF ZEW Expectations Nov -3.9 -30.5 13:30 USD Initial Jobless Claims (Nov 22) 213 K 223K 227K 228 K 13:30 USD GDP Annualized Q3 P 2.10% 1.90% 1.90% 13:30 USD GDP Price Index Q3 P 1.80% 1.70% 1.70% 13:30 USD Durable Goods Orders Oct 0.60% -0.50% -1.20% 13:30 USD Durable Goods Orders ex Transportation Oct 0.60% 0.20% -0.40% 15:00 USD Personal Income M/M Oct 0.30% 0.30% 15:00 USD Personal Spending Oct 0.30% 0.20% 15:00 USD PCE - Price Index M/M Oct 0.10% 0.00% 15:00 USD PCE - Price Index Y/Y Oct 1.20% 1.30% 15:00 USD Core PCE - Price Index M/M Oct 0.20% 0.00% 15:00 USD Core PCE - Price Index Y/Y Oct 1.70% 1.70% 15:00 USD Pending Home Sales M/M Oct 0.20% 1.50% 15:30 USD Natural Gas Storage -94B 16:00 USD Crude Oil Inventories 1.4M 19:00 USD Fed's Beige Book

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