Action Insight Daily Report 12-10-19

Markets Staying in Tight Range as UK GDP and German ZEW Awaited

Action Insight Daily Report 12-10-19 Markets Staying in Tight Range as UK GDP and German ZEW Awaited Trading in the forex markets remain quiet in Asian session today, with major pairs and crosses staying in yesterday's range. Canadian Dollar is lifted mildly by positive news regarding USMCA, but gains are so far limited. New Zealand Dollar is, for now, the strongest one, followed by Sterling. On the other hand, Yen is the weakest, together with Swiss Franc and Dollar. UK GDP and German ZEW might provide some more volatility. Technically, GBP/USD and EUR/GBP are both losing some momentum as seen in 4 hour MACD. But there is no sign of topping in the Pound yet. Sterling will likely remain firm, awaiting Thursday's UK elections. USD/CHF, USD/JPY and USD/CAD are staying in familiar range, EUR/USD and AUD/USD too. These pairs may wait for tomorrow's FOMC projections before having a decisive breakout. In Asia, Nikkei dropped -0.09%. Hong Kong HSI is down -0.16%. China Shanghai SSE is up 0.06%. Singapore Strait Times is down -0.02%. Japan 10-year JGB yield is down -0.0143 at -0.020. Overnight, DOW dropped -0.38%. S&P 500 dropped -0.32%. NASDAQ dropped -0.40%. 10-year yield dropped -0.013 to 1.829, but stayed above 1.8 handle. Full Report Here Australia business conditions stabilized at low levels, ongoing GDP weakness continues US Agriculture Secretary doesn't see new tariffs on China take effect USMCA details to be pinned down on Tuesday in Mexico City Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol China's CPI Soared to +4.5%; Exports Contracted More than Expected Fed to Leave Policy Rate Unchanged in December, and Likely for... Trade War, Election, Fed and ECB in a Week of Guaranteed... Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Report Daily Pivots: (S1) 0.6817; (P) 0.6829; (R1) 0.6838; More... AUD/USD is staying in range below 0.6862 temporary top and intraday bias neutral first. For now, further rise remains mildly in favor as long as 0.6813 minor support holds. On the upside, above 0.6862 will target 0.6929 resistance first. Break there will resume the rebound from 0.6670 and target 100% projection of 0.6670 to 0.6929 from 0.6754 at 0.7013. On the downside, however, break of 0.6813 will dampen this bullish case and turn focus back to 0.6754 support instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Fed's Term Repo Is Oversubscribed For Third Monday In A Row Market Brief: Forget Phase One, It's All NAFTA Now Australian Business Conditions & Confidence, November 2019 EUR/CHF Bearish Flag In Motion Asia Enters The Holding Pattern This Morning GBP/USD Rally Could Continue Above 1.3200 Mexican Peso Stronger On Possible USMCA Deal USMCA Hopes Drive Peso And Loonie Higher USD Holds Support Ahead Of FOMC Fundamental Analysis | Technical Analysis In-depth Reports U.K. Election Preview—The Beginning of the End? UK Election - Conservatives Majority May Lead to Smooth, but Hard, Brexit December Flashlight for the FOMC Blackout Period OPEC+ Agrees to Deepen Output Cut by 500K bpd. Compliance Remains the Key Scraping the Bottom Punting Our ECB Rate Cut Call The 2020 Election and the Economy: Part II The 2020 Election and the Economy: Part I PBOC to Ease Monetary Policy Further Despite Strong Inflation RBA: Ideas for Unconventional Monetary Policy Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:50 JPY Money Supply M2+CD Y/Y Nov 2.80% 2.50% 2.50% 2.40% 0:30 AUD House Price Index Q/Q Q3 2.40% 0.50% -0.70% 0:30 AUD NAB Business Confidence Nov 0 2 0:30 AUD NAB Business Conditions Nov 4 3 1:30 CNY CPI Y/Y Nov 4.50% 4.50% 3.80% 1:30 CNY PPI Y/Y Nov -1.40% -1.50% -1.60% 6:00 JPY Machine Tool Orders Y/Y Nov P -37.9% -37.40% 7:45 EUR France Industrial Output M/M Oct 0.20% 0.30% 9:00 EUR Italy Industrial Output M/M Oct -0.40% 9:30 GBP GDP M/M Oct 0.10% -0.10% 9:30 GBP Index of Services 3M/3M Oct 0.50% 0.40% 9:30 GBP Industrial Production M/M Oct 0.20% -0.30% 9:30 GBP Industrial Production Y/Y Oct -1.20% -1.40% 9:30 GBP Manufacturing Production M/M Oct 0.00% -0.40% 9:30 GBP Manufacturing Production Y/Y Oct -1.50% -1.80% 9:30 GBP Goods Trade Balance (GBP) Oct -11.5B -12.5B 10:00 EUR Germany ZEW Economic Sentiment Dec 1.1 -2.1 10:00 EUR Germany ZEW Current Situation Dec -22 -24.7 10:00 EUR Eurozone ZEW Economic Sentiment Dec 2.2 -1 11:00 USD NFIB Business Optimism Index Nov 102.8 102.4 13:30 USD Nonfarm Productivity Q3 -0.20% -0.30% 13:30 USD Unit Labor Costs Q3 3.50% 3.60% 17:00 GBP NIESR GDP Estimate Nov 0.10%

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!