Action Insight Daily Report 12-23-19

Markets in Holiday Mood, USD/CAD to Decide Next Direction

Action Insight Daily Report 12-23-19 Markets in Holiday Mood, USD/CAD to Decide Next Direction Australian and New Zealand Dollar strengthen mildly in Asia today. But markets remain quiet overall, very much in holiday mood. Dollar and Canada are the weaker ones. US President Donald Trump's tweet late Friday indicated that US-China trade deal is still on the right track. China also announced to lower tariffs on over 800 products types on Monday. Focus will turn to US durable goods orders and Canadian GDP. Technically, Sterling's corrective falls started to lose momentum. rebound could be due in both GBP/USD and GBP/JPY, with focuses on 1.3133 and 143.86 minor resistance levels. EUR/AUD is relatively weak and could extend the fall from 1.1199 towards 1.1039 support. USD/CAD is still limited below 1.3185 minor resistance despite Friday's rebound. The pair could make up its mind to confirm short term bottoming or not today, after data from US and Canada. In Asia, currently, Nikkei is up 0.10%. Hong Kong HSI is up 0.06%. China Shanghai SSE is down -0.47%. Singapore Strait Times is down -0.18%. Japan 10-year JGB yield is down -0.001 at 0.010, staying positive. Full Report Here China lowers tariffs on 859 imports types to below MFN rates Trump: Signing of giant China trade deal being arranged UK Johnson's Brexit deal passed second reading with 358-234 votes Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Net Length on USD Index Futures... CFTC Commitments of Traders – Bets for Higher Oil Price Remained... BOE Left Policy Rate Unchanged. Neutral Tone Maintained Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CAD Daily Outlook Daily Pivots: (S1) 1.3125; (P) 1.3153; (R1) 1.3183; More.... Intraday bias in USD/CAD remains neutral at this point. On the upside, considering bullish convergence condition in 4 hour MACD, break of 1.3185 resistance will indicate short term bottoming. Fall from 1.3327 could have completed in this case. Intraday bias will be turned back to the upside for 1.3327 resistance. On the downside, break of 1.3102 will target 1.3042 key support next. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Wall Street Holds Near Record Levels EURUSD Sets Up To Weaken Further Towards 1.1034 Level EUR/USD Could Resume Its Downtrend Below 1.1050 Forex Forecast and Cryptocurrencies Forecast Weekly Economic and Financial Commentary: Expansion Poised to Continue into the Next Decade The Weekly Bottom Line: Hope for Good Tidings in 2020 Forward Guidance: Gearing Down for Holidays, But With Some Key Data Ahead Week Ahead – Markets to Enter Holiday Lull, But Mind the Volatility Risk China Weekly Letter – Growth on Track for 6% in 2020 Fundamental Analysis | Technical Analysis In-depth Reports A Phase One Trade Deal is Reached, What Does It Mean? RBNZ: Update On The OCR – No Cut Over The First Half Of 2020 The 2020 Election and the Economy: Part II Zero Sum World? Implications of U.S. Trade Outcomes on Canada Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 00:30 AUD Private Sector Credit M/M Nov 0.10% 0.30% 0.10% 04:30 JPY All Industry Activity Index M/M Oct -4.30% -4.30% 1.50% 1.90% 13:30 CAD GDP M/M Oct 0.10% 0.10% 13:30 USD Durable Goods Orders Nov 1.50% 0.50% 13:30 USD Durable Goods Orders ex Transportation Nov 0.20% 0.50% 15:00 USD New Home Sales Nov 730K 733K

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