Action Insight Mid-Day Report 12-9-19

Euro Rises Mildly as Investor Confidence Improved, Overall Markets Quiet

Action Insight Mid-Day Report 12-9-19 Euro Rises Mildly as Investor Confidence Improved, Overall Markets Quiet Markets continue to trade in rather subdued manner today, awaiting the key events ahead, including three central bank meetings, trade deal and UK elections. Meanwhile, Euro is trading generally higher, slightly, as supported by improvement in investor confidence. Sterling is also firm but fails to extend earlier gains. On the other hand, Australian and New Zealand Dollars are mildly lower, followed by the greenback. Technically, after last week's rebound attempt, there is so far no follow through buying in the greenback. USD/CHF, USD/JPY, USD/CAD and AUD/USD are staying in established range. EUR/USD's pull back is so far contained well above 1.0981 support. Further rise is mildly in favor for the near term. Break of 1.1116 will target a test on 1.1179 resistance next. In Europe, currently, FTSE is down -0.07%. DAX is down -0.24%. CAC is down -0.49%. German 10-year yield is down -0.0238 at -0.309. Earlier in Asia, Nikkei rose 0.33%. Hong Kong HSI dropped -0.01%. China Shanghai SSE rose 0.08%. Singapore Strait Times dropped -0.47%. Japan 10-year JGB yield rose 0.0121 to -0.005. Full Report Here Eurozone Sentix confidence rose to 0.7, spectre of recession dispelled German trade surplus widened to EUR 20.6B, imports stagnate China's export shrank for 4th straight month in Nov, trade surplus... Japan Q3 GDP revised up to 1.8% annualized on capital spending Survation: Conservative lead over Labour rose back to 14pts Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Fed to Leave Policy Rate Unchanged in December, and Likely for... CFTC Commitments of Traders – Bets for Higher Crude Oil Price... Trade War, Election, Fed and ECB in a Week of Guaranteed... Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1030; (P) 1.1070; (R1) 1.1100; More... EUR/USD recovers mildly today but stays in range of 1.0981/1116. Intraday bias remains neutral first. On the upside, above 1.1116 will resume the rise from 1.0981 to 1.1179 resistance. That will also revive the case that correction from 1.1179 has completed and rise from 1.0879 is ready to resume. On the downside, break of 1.0981 will resume the decline from 1.1179 for retesting 1.0879 low instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Canadian Housing Starts Hold Firm EURGBP Slumps to 2 ½-Year Low; May Pause Selling in Short-Term Pound to $1.35? Market Brief: Cautious Start in Arguably Last Important Week of 2019 US Open – Calm Before the Storm, Oil Pares Last Weeks Gains, Gold and Bitcoin Steady The USD Gets A Boost From November's Employment Data… Three Monday Talking Points: Don't Blink Or You Just Might Miss A Catalyst Week Ahead: UK Elections, Trade Talks, And Central Banks Meetings GBPUSD Runs To 8-Month High, Overbought Near Key Resistance 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 07:00 CNY Trade Balance (USD) Nov 38.7B 44.5B 42.8B 07:00 CNY Exports (USD) Y/Y Nov -1.10% 1.00% -0.90% 07:00 CNY Imports (USD) Y/Y Nov 0.30% -1.80% -6.40% 07:00 CNY Trade Balance (CNY) Nov 274B 300B 301B 07:00 CNY Exports (CNY) Y/Y Nov 1.30% 3.10% 2.10% 07:00 CNY Imports (CNY) Y/Y Nov 2.50% -0.90% -3.50% -3.30% 21:45 NZD Manufacturing Sales Q3 0.90% -0.80% -0.70% -0.50% 23:50 JPY Bank Lending Y/Y Nov 2.10% 1.90% 2.00% 23:50 JPY GDP Q/Q Q3 0.40% 0.20% 0.10% 23:50 JPY GDP Deflator Y/Y Q3 0.60% 0.60% 0.60% 23:50 JPY GDP Annualized Q3 1.80% 0.70% 0.20% 23:50 JPY Current Account (JPY) Oct 1.73T 1.74T 1.49T 06:45 CHF Unemployment Rate Nov 2.30% 2.30% 2.30% 07:00 EUR Germany Trade Balance (EUR) Oct 20.6B 19.0B 19.2B 09:30 EUR Eurozone Sentix Investor Confidence Dec 0.7 -5.4 -4.5 13:15 CAD Housing Starts Nov 201K 200K 202K 201K 13:30 CAD Building Permits M/M Oct -1.50% 3.50% -6.50% -5.90%

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