Action Insight Mid-Day Report 11-4-19

Risk Appetite Continues as Yen Stays Weak, Dollar Defending Support

Action Insight Mid-Day Report 11-4-19 Risk Appetite Continues as Yen Stays Weak, Dollar Defending Support Yen and Swiss Franc remain the weakest ones for today, following strong rally in global stocks. US indices would likely extend the record run, as futures suggest. German and US benchmark yields also climb a bit higher. back in the forex markets, though, Dollar recover mildly as there is no follow through selling to push it though near term support levels against others. Overall, major pairs and crosses are in consolidative mode. Technically, EUR/USD, GBP/USD and AUD/USD retreat ahead of 1.1179, 1.3012 and 0.6929 temporary tops respectively. Consolidations are likely extending with another fall. USD/CHF also recovers ahead of 0.9841 key near term support again. USD/JPY is pressing 4 hour 55 EMA and break will put focus back to 109.28/31 resistance zone. In Europe, currently, FTSE is up 1.05%. DAX is up 1.25%. CAC is up 1.00%. German 10-year yield is up 0.0159 at -0.367. Earlier in Asia, Japan was on holiday. Hong Kong HSI rose 1.65%. China Shanghai SSE rose 0.58%. Singapore Strait Times rose 0.22%. Full Report Here UK PMI construction rose to 44.2, clear signs of extended soft... Eurozone Sentix investor confidence rose to -4.5, deeper recession could be... Eurozone PMI manufacturing finalized at 45.9, stuck in its steepest decline... Swiss consumer climate dropped to -10.4, weak economic development in near... New Zealand treasury downgrade neutral interest rate assumption to 3% Australia retail sales rose 0.2%, mixed results at industry level US Ross: China trade deal particularly complicated Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Significant Decline in GBP Net Short... CFTC Commitments of Traders – Bets for Higher Commodity Prices Increased... Fed, BoC and RBA Expectations Drove USD, CAD and AUD Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/JPY Mid-Day Outlook Daily Pivots: (S1) 107.94; (P) 108.14; (R1) 108.38; More... Intraday bias in USD/JPY remains neutral for the moment and stronger recovery could be seen. But outlook is unchanged that considering bearish divergence condition in 4 hour MACD, a short term top should be formed. Upside of recovery should be limited below 109.28/31 resistance to bring fall another decline. On the downside, below 107.88 will target 106.48 support. break will confirm completion of whole rebound from 104.45 and target retest of this low. However, decisive break of 109.31 will be an early sign of medium term reversal and target 112.40 resistance next. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Market Brief: New Record Highs await Wall Street US Open – Rally Mode Continues, Oil Rises, Gold Steady A Dazed Aussie Awaits RBA's Interest Rate Decision… EUR/USD Outlook: Euro Eases Ahead Of Lagarde But Bias Remains With Bulls Why Gold Is Up And How High Can It Go? Three Reasons For The Further USD Decline US Dollar Declines Despite S&P 500 Reaching New Record High Gold Price Climbed Higher $1,500 Resistance Area Fundamental Analysis | Technical Analysis In-depth Reports FOMC Review Fed Is Playing The Waiting Game RBA on Hold in November; Growth and Inflation Forecasts for 2020 Unchanged Options for Effective QE Strategy for the RBA 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 0:00 AUD TD Securities Inflation M/M Oct 0.10% 0.10% 0:30 AUD Retail Sales M/M Sep 0.20% 0.40% 0.40% 1:00 AUD TD Securities Inflation Y/Y Oct 1.50% 1.50% 6:45 CHF SECO Consumer Climate (3m) Q4 -10 -8 -8 8:45 EUR Italy Manufacturing PMI Oct 47.7 48.1 47.8 8:50 EUR France Manufacturing PMI Oct F 50.7 50.5 50.5 8:55 EUR Germany Manufacturing PMI Oct F 42.1 41.9 41.9 9:00 EUR Eurozone Manufacturing PMI Oct F 45.9 45.7 45.7 9:30 EUR Eurozone Sentix Investor Confidence (Nov) -4.5 -13 -16.8 9:30 GBP Construction PMI Oct 44.2 44 43.3 15:00 USD Factory Orders M/M Sep -0.30% -0.10%

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