Action Insight Daily Report 1-21-20

Risk Aversion Dominates on Concerns of Coronavirus Outbreak in China

Action Insight Daily Report 1-21-20 Risk Aversion Dominates on Concerns of Coronavirus Outbreak in China Risk aversion dominates the Asian markets today on concerns of coronavirus outbreak in China. Hong Kong HSI leads the way down, additionally pressured by Moody's downgrade. In the currency markets, commodity currencies are broadly lower, with Australian Dollar suffering biggest selloff. Yen and Swiss Franc are the strongest for now. Focus will turn to UK job data, which could trigger another round of selloff in Sterling. Technically, 0.6849 support in AUD/USD is in focus. Break will resume whole fall from 0.7031 and add to the case of near term bearish reversal. USD/JY is also eying 109.79 minor support. Break there will confirm short term topping and bring deeper corrective pull back. Gold's break of 1563.11 resistance suggests that pull back from 1611.37 is over at 1535.91. Further rebound would be seen to retest 1611.37 high. In Asia, currently, Nikkei is down -0.88%. Hong Kong HSI is down -2.29%. China Shanghai SSE is down-1.04%. Singapore Strait Times is down -1.18%. Japan 10-year JGB yield is down -0.0138 at -0.005, turned negative. Full Report Here BoJ stands pat, raises growth forecasts, lower inflation projections Moody's downgrades Hong Kong to Aa3 on weak government Asian stocks tumble on concern of coronavirus outbreak in China IMF downgrade growth forecast, sentiments boosted not yet visible in data Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol BOC to Leave Rate Unchanged at 1.75%. Disappointing Data Likely Due... ECB to Leave Monetary Policy Unchanged, Focus Turns to Strategic Review Dollar Could Be Staging Bullish Reversal as Trade Tensions Eased Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Report Daily Pivots: (S1) 0.6857; (P) 0.6873; (R1) 0.6891; More... Intraday bias in AUD/USD remains neutral first, with focus on 0.6849 support. Outlook is unchanged that rebound from 0.6670 could have completed with three waves up to 0.7031. Break of 0.6849 will turn bias to the downside for 0.6754 support. Decisive break there will confirm this bearish case. On the upside, however, break of 0.6933 will turn focus back to 0.7031 resistance instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings GBP/USD Trading Near Make-Or-Break Levels GBP/USD At Key 1.3000 Before Employment Data WTI Gaps Higher After Supply Disruptions GBPAUD Inches Sideways Towards Supportive Trendline Fundamental Analysis | Technical Analysis In-depth Reports US-China Phase I Trade Deal Signed, Execution & Phase II Negotiations the Next Focus Can China Actually Buy US$50bn Of US Energy Products? After an Impressive New-Year Rally, What Does 2020 Hold for Gold? FX Year Ahead 2020: Turnaround or Same Old Blues? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 3:00 JPY BoJ Interest Rate Decision -0.10% -0.10% -0.10% 9:30 GBP Claimant Count Change Dec 33.4K 28.8K 9:30 GBP Claimant Count Rate Dec 3.50% 9:30 GBP ILO Unemployment Rate (3M) Nov 3.80% 3.80% 9:30 GBP Average Earnings Excluding Bonus 3M/Y Nov 3.40% 3.50% 9:30 GBP Average Earnings Including Bonus 3M/Y Nov 3.40% 3.20% 10:00 EUR Germany ZEW Economic Sentiment Jan 15.2 10.7 10:00 EUR Germany ZEW Current Situation Jan -12.4 -19.9 10:00 EUR Eurozone ZEW Economic Sentiment Jan 16.3 11.2 13:30 CAD Manufacturing Sales M/M Nov 0.30% -0.70%

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!