Action Insight Daily Report 1-30-20

Risk Aversion Back after a Breather, Coronavirus Cases Top 7700

Action Insight Daily Report 1-30-20 Risk Aversion Back after a Breather, Coronavirus Cases Top 7700 Risk aversion is back in the markets after taking a breather yesterday, as there remains no sign of containment of China's coronavirus. Yen and Swiss Franc are the strongest ones today, with Yen pressing this week's high against other major currencies. Dollar is mixed shrugging off the non-eventful FOMC rate hold. Commodity currencies are broadly under pressure naturally. Sterling is not too far away as markets await BoE rate decision. Technically, AUD/USD's decline resumes after brief consolidation. Current fall from 0.7031 is on track to retest 0.6670 low. USD/CAD also resume rise from 1.2951 after brief consolidation, and it's on track to 1.3327 resistance next. Both USD/JPY and EUR/JPY might quickly break through 108.73 and 119.80 temporary low too. In Asia, Nikkei dropped -1.72%. Hong Kong HSI is down -2.37%. Singapore Strait Times is down -0.62%. China remains on holiday. Japan 10-year JGB yield is down -0.0229 at -0.059. Overnight, DOW rose 0.04%. S&P 500 dropped -0.09%. NASDAQ rose 0.06%. 10-year yield dropped -0.047 to 1.594, losing 1.6 handle. Full Report Here BoE to stand pat on a close call, some previews China's coronavirus cases jump to 7711, Yuan to extend selloff Fed carefully monitoring coronavirus, 10-year yield breaks 1.6 handle Fed left interest rate unchanged at 1.50-1.75%, full statement US crude oil inventories rose 3.5m barrels, WTI softens mildly Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol US Crude Inventory Gained over 3M bpd, while Distillate Stockpile Continued... Fed Delivered Message with Dovish Tweak, Remaining Concerned about Low Inflation Chance of BOE Rate Cut Balanced, as Weak Inflation is Offset... Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Report Daily Pivots: (S1) 0.6732; (P) 0.6755; (R1) 0.6774; More... AUD/USD's decline resumes after brief consolidations and intraday bias is back on the downside. Fall form 0.7031 is expected to retest 0.6670 low next. On the upside, above 0.6777 minor resistance will turn intraday bias neutral first. But recovery should be limited below 0.6849 support turned resistance to bring another fall. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings EU Morning: BoE At The Top Of The Radar Bank Of England To Cut Rates Today Crude Oil Price Remains In Downtrend Below $55 Northern Exposure: Growth and Inflation to Justify Further FOMC Easing from Mid-Year Uneventful Fed a Sign of Things to Come? Asia Morning: Unstable The Federal Reserve Leaves Rates Unchanged as it Continues to Monitor the Outlook What Does The Gold Market Know? The Impact Of The Coronavirus On USD/CNH Will The BoE Cut Rates? Coronavirus Impact on the Chinese Economy BREXIT: Hints of Clarity as the UK Enters an 11-Month Transition Period Bank of England: Could be a Tense Meeting Fundamental Analysis | Technical Analysis In-depth Reports An Early Read on the Coronavirus Risk One Big Reason Traders May STILL Be Underestimating Coronavirus Risks Research China: Uncertainty on the Rise on the Back of Corona Virus Euro Area Research: From US-China Trade Ceasefire To US-EU Trade War? The 2020 Election and the Economy: Part III Canadian Trade Worries Easing, But Domestic Headwinds Remain Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 21:45 NZD Trade Balance (NZD) Dec 547M 100M -753M -791M 0:30 AUD Import Price Index Q/Q Q4 0.70% 0.40% 0.40% 8:00 CHF KOF Leading Indicator Jan 96.5 96.4 8:55 EUR Germany Unemployment Change Dec 5K 8K 8:55 EUR Germany Unemployment Rate Dec 5% 5% 10:00 EUR Eurozone Unemployment Rate Dec 7.50% 7.50% 10:00 EUR Eurozone Economic Sentiment Jan 102 101.5 10:00 EUR Eurozone Business Climate Jan -0.26 -0.25 10:00 EUR Eurozone Industrial Confidence Jan -9 -9.3 10:00 EUR Eurozone Consumer Confidence Jan -8.1 -8.1 10:00 EUR Eurozone Services Sentiment Jan 12.2 11.4 12:00 GBP BoE Rate Decision 0.75% 0.75% 12:00 GBP BoE Asset Purchase Target Jan 435B 435B 12:00 GBP MPC Official Bank Rate Votes 0--3--6 0--2--7 12:00 GBP MPC Asset Purchase Facility Votes 0--0--9 0--0--9 13:00 EUR Germany CPI M/M Jan P -0.70% 0.50% 13:00 EUR Germany CPI Y/Y Jan P 1.70% 1.50% 13:30 USD Initial Jobless Claims (Jan 24) 218K 211K 13:30 USD GDP Annualized Q4 P 2.10% 2.10% 13:30 USD GDP Price Index Q4 P 1.90% 1.80% 15:30 USD Natural Gas Storage -92B

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