Action Insight Mid-Day Report 11-29-19

European Majors Lower ahead of Month End, USD/CHF Breaks Parity

Action Insight Mid-Day Report 11-29-19 European Majors Lower ahead of Month End, USD/CHF Breaks Parity European majors are trading generally lower today, in quiet markets just ahead of monthly close. On the other hand, Dollar is among the strongest together with Aussie and Kiwi. Despite steep selloff in Asian stocks, European markets recover after initial weakness. Bond markets are steady with major treasury yields rising slightly. Such development should keep Yen weak, in particular USD/JPY. Technically, EUR/USD's break of 1.0989 support indicates resumption of fall from 1.1175 finally. It's now heading back to 1.0879 low. USD/CHF will take on 1.0027 resistance very soon. Break will resume whole rise from 0.9659. These are the two pairs to watch just before weekly close. In Europe, FTSE is currently down -0.32%. DAX is up 0.30%. CAC is up 0.26%. German 10-year yield is up 0.0011 at -0.348. Earlier in Asia, Nikkei dropped -0.49%. Hong Kong HSI dropped -2.03%. China Shanghai SSE dropped -0.61%. Singapore Strait Times dropped -0.21%. Japan 10-year JGB yield rose 0.0072 to -0.082. Full Report Here Canada GDP grew 0.1% in Sep, 0.3% in Q3 Eurozone CPI rose to 1.0%, core up to 1.3% Swiss KOF dropped to 93, economic outlook remains subdued UK Gfk consumer confidence unchanged at -14, upcoming election an opportunity... Japan industrial production posted largest contraction in nearly two years BoJ Kuroda pushes deregulation and structural reforms Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol US Oil Inventory Increased Across the Board UK Election – Conservatives Majority May Lead to Smooth, but Hard,... PBOC to Ease Monetary Policy Further Despite Strong Inflation Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9977; (P) 0.9989; (R1) 1.0007; More... USD/CHF rises to as high as 1.0019 so far. Intraday bias stays on the upside for 1.0027 resistance first. Break will resume whole rise from 0.9659. Next upside target will be 61.8% projection of 0.9659 to 1.0027 from 0.9869 at 1.0095. On the downside, below 0.9980 minor support will delay the bullish case and turn intraday bias neutral first. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Not a Week For the History Books EURGBP Grinds Lower, But Takes A Breather Near 0.8500 GBPJPY Attempts Break Above Unwavering Neutral Market All Quiet On The Currency Front, But Key Data Could Spice Things Up USDCAD Switches To Neutral Above Tentative Up Trendline Wake-Up Calls From Asia Pressured The Markets Market Brief: Plenty Of Room For BOJ To Ease Further 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 21:45 NZD Building Permits M/M Oct -1.10% 7.20% 7.40% 23:30 JPY Tokyo CPI Core Y/Y Nov 0.60% 0.60% 0.50% 23:30 JPY Unemployment Rate Oct 2.40% 2.40% 2.40% 23:50 JPY Industrial Production M/M Oct P -4.20% -2.10% 1.70% 00:01 GBP GfK Consumer Confidence Nov -14 -14 -14 00:30 AUD Private Sector Credit M/M Oct 0.10% 0.30% 0.20% 05:00 JPY Housing Starts Y/Y Oct -7.40% -7.60% -4.90% 05:00 JPY Consumer Confidence Index Nov 38.7 35.4 36.2 08:00 CHF KOF Leading Indicator Nov 93 95 94.7 08:55 EUR Germany Unemployment Rate Nov 5% 5% 5% 08:55 EUR Germany Unemployment Change Nov -16K 5K 6K 09:30 GBP Mortgage Approvals Oct 65K 65K 66K 09:30 GBP M4 Money Supply M/M Oct 0.00% 0.50% 0.70% 10:00 EUR Eurozone Unemployment Rate Oct 7.50% 7.50% 7.50% 10:00 EUR Eurozone CPI Y/Y Nov P 1.00% 0.80% 0.70% 10:00 EUR Eurozone CPI - Core Y/Y Nov P 1.30% 1.20% 1.10% 13:30 CAD GDP M/M Sep 0.10% 0.10% 0.10% 13:30 CAD Raw Material Price Index Oct -1.90% -1.90% 0.00% 13:30 CAD Industrial Product Price M/M Oct 0.10% 0.00% -0.10%

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