Action Insight Mid-Day Report 12-23-19

Sterling Suffers Renewed Selling, Canadian Lower on GDP

Action Insight Mid-Day Report 12-23-19 Sterling Suffers Renewed Selling, Canadian Lower on GDP Sterling is trading as the weakest one for today as it suffers renewed selling ahead of holidays. Canadian Dollar is currently the second weakest, weighed down by unexpected contraction in October GDP. Meanwhile New Zealand and Australian Dollars are the strongest ones, lifted by China's move to lower import tariffs. Dollar shrugs off much weaker than expected durable goods orders. In other markets, FTSE is currently up 0.57%. DAX is down -0.14%. CAC is up 0.06%. German 10-year yield is down -0.0026 at -0.253. Earlier in Asia, Nikkei rose 0.02%. Hong Kong HSI rose 0.13%. China Shanghai SSE dropped -1.4%. Singapore Strait Times rose 0.05%. Japan 10-year JGB yield dropped -0.0003 to -0.011. Merry Christmas to our readers. We'll be back on Dec 26. Full Report Here US durable goods orders dropped -2%, second decline in three months Canada GDP posted first monthly decline in 8 months, by -0.1% 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 GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.2960; (P) 1.3020; (R1) 1.3060; More.... GBP/USD's decline re-accelerates to as low as 1.2905 so far. Intraday bias remains on the downside at this point. Sustained break of 38.2% retracement of 1.1958 to 1.3514 at 1.2920 will pave the way to 61.8% retracement at 1.2552. On the upside, break of 1.3079 minor resistance will turn bias back to the upside for retesting 1.3514 high. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings EURUSD Muted Ahead of US Durable Goods Gold Breaks Out EUR/USD Outlook: Daily Cloud Top Contains for Now but Near-Term Outlook Remains Negative USDMXN Looks for a Rebound as Oversold Conditions Detected Gold Finally Climbs above Resistance Trendline; Eyes Turn to 1,490 Santa Running on Fumes AUD/USD Outlook: There is a Major Bullish Trend Line on The Hourly Chart EURUSD Upside Stalls at 1.1178; Short-Term Bias Neutral-to-Bearish Stock Markets Enter Holiday Mood after Massive Gains for the Year Cross Check | AUD/JPY, GBP/CHF, EUR/CAD, EUR/NZD 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% 0.10% 13:30 USD Durable Goods Orders Nov -2.00% 0.20% 0.50% 13:30 USD Durable Goods Orders ex Transportation Nov 0.00% 1.50% 0.50% 15:00 USD New Home Sales Nov 730K 733K

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