Action Insight Mid-Day Report 11-8-19

Dollar Boosted by Yields, Canadian Weighed Down by Job Data

Action Insight Mid-Day Report 11-8-19 Dollar Boosted by Yields, Canadian Weighed Down by Job Data Dollar rises broadly today and it's set to end as the strongest one. Strong rally in treasury yield, with 10-year yield now at 1.95, is giving the green back solid support. Stock futures point to mixed open, but could easily extend recent record run if there is more positive news regarding US-China trade deal before close. As for today, commodity currencies are generally pressured. In particular, Canadian dollar is weighed down by weaker than expected job and housing data. Technically, USD/CAD breaks 1.3208 temporary top to resume rise from 1.3042. That's another sign of Dollar strength following EUR/USD, USD/JPY and USD/CHF. Ideal, we should seen AUD/USD heading back to 0.6809 minor support next week to align the outlook with other Dollar pairs. GBP/USD would likely be the only exception, as it should remain consolidative, awaiting UK election next month. In Europe, currently, FTSE is down -0.49%. DAX is down -0.43%. CAC is down -0.29%. German 10-year yield is down -0.001 at -0.235. Earlier in Asia, Nikkei rose 0.26%. Hong Kong HSI dropped -0.70%. China Shanghai SSE dropped -0.49%. Singapore Strait Times dropped -0.65%. Japan 10-year JGB yield rose 0.0258 to -0.060. Full Report Here Canada employment and housing data missed expectations Fed Bostic fairly comfortable standing pat with policy RBA SoMP: Economic projections largely unchanged China trade surplus widened to USD 42.8B, much less than expected... US Kudlow said there will be tariffs concessions with China, but... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol BOE Left Policy Rate at 0.75%. Two Members Voted for Easing US Crude Oil Inventory Extended Gains PBOC Cut 1-Year Lending Rate for the First Time since 2016 Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CAD Mid-Day Outlook Daily Pivots: (S1) 1.3157; (P) 1.3177; (R1) 1.3194; More... USD/CAD's rebound from 1.3042 resumed by taking out 1.3208 and reaches as high as 1.3231 so far. Intraday bias is back on the upside for 1.3347/82 resistance zone next. on the downside, break of 1.3159 minor support will turn intraday bias neutral again first. For now, further rally would remain in favor as long as 1.3042 support holds. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Canadian Labour Market Holds onto Earlier Gains US Stocks Still Near Record Levels Despite Trade Worries, Oil Slumps, Gold Pauses Stocks: Wall Street Rally Exhausted Amid Trade Optimism Week Ahead: RBNZ, US CPI And Global Data Galore GBP Loosening As Election Uncertainties Increase Gold Hits A 5-Week Low, As Market Sentiment Gets A Boost… USDCAD Returns Above Trendline, But Rebound Capped By 100-Day MA Risk Appetite Softens On Mixed US Signals About Trade Deal, Pound Slips After BoE Risk Appetite Tested By Conflicting Trade Reports AUDJPY Unlocks Fresh Highs, Next Key Resistance 76.26 Fundamental Analysis | Technical Analysis In-depth Reports BOE Left Policy Rate at 0.75%. Two Members Voted for Easing RBA Statement on Monetary Policy Provides Important Insights into the Policy Outlook PBOC Cut 1-Year Lending Rate for the First Time since 2016 RBA Left Cash Rate Unchanged at 0.75%, Maintained Dovish Bias as Members Struggle to Bring Jobless Rate Lower RBA Stays on Hold; Signals on Hold in December as Well 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 JPY Labor Cash Earnings Y/Y Sep 0.80% 0.10% -0.10% 23:30 JPY Overall Household Spending Y/Y Sep 9.50% 7.10% 1.00% 00:30 AUD Home Loans Sep 1.40% 2.10% 1.80% 2.70% 01:30 AUD RBA Monetary Policy Statement 03:00 CNY Trade Balance (CNY) Oct 301B 220B 275B 03:00 CNY Exports Y/Y (CNY) Oct 2.10% 5.10% -0.70% 03:00 CNY Imports Y/Y (CNY) Oct -3.50% -1.10% -6.20% 03:00 CNY Trade Balance (USD) Oct 42.8B 40.6B 39.7B 03:00 CNY Exports (USD) Y/Y Oct -0.90% -5.20% -3.20% 03:00 CNY Imports (USD) Y/Y Oct -6.40% -6.10% -8.50% 05:00 JPY Leading Economic Index Sep P 92.2 92.2 91.9 06:45 CHF Unemployment Rate M/M Oct 2.30% 2.30% 2.30% 07:00 EUR Germany Trade Balance (EUR) Sep 19.2B 19.3B 18.1B 18.7B 07:45 EUR France Trade Balance (EUR) Sep -5.55B -4.90B -5.02B -5.44B 07:45 EUR France Industrial Output M/M Sep 0.30% 0.40% -0.90% 13:15 CAD Housing Starts Y/Y Oct 202K 220K 221.2K 13:30 CAD Building Permits M/M Sep -6.50% -1.90% 6.10% 13:30 CAD Employment Change -1.8K 14.7K 53.7K 13:30 CAD Unemployment Rate Oct 5.50% 5.50% 5.50% 15:00 USD Michigan Consumer Sentiment Index (Nov) P 96 95.5 15:00 USD Wholesale Inventories Sep F -0.30% -0.30%

Action Forex Company Limited | Room 804, 8/F. , Prosperity Centre, 982 Canton Road, Mongkok, Kowloon 852 Hong Kong SAR China Unsubscribe mondemand.forex@blogger.com Update Profile | About Constant Contact Sent by contact@actionforex.com in collaboration with Try email marketing for free today!