Action Insight Mid-Day Report 1-10-20

Dollar Supported by Fedspeaks, Awaits NFP for Next Move

Action Insight Mid-Day Report 1-10-20 Dollar Retreats after NFP Miss, But Loss Limited Dollar retreats mildly in early US session after non-farm payroll reports missed market expectation. But loss is limited as the set of data was decent even thought not spectacular. Indeed, there is prospect of more Dollar rally once the knee-jerk reactions fade. For now, Swiss Franc and Yen is the weakest for today, followed by Dollar. Australian Dollar is the strongest, followed by New Zealand Dollar and Sterling. For the week, Sterling is the strongest, followed by Dollar. Yen is the weakest, followed by Aussie. Technically, USD/CAD dips notably after failing to break through 1.3102 resistance decisively. Canadian Dollar is also lifted by stronger than expected job data. USD/CAD's near term outlook remains bearish and could be heading back to 1.2951 low. USD/JPY is still eyeing 109.72 resistance. Break will resume recent rally from 104.45. In Europe, currently, FTSE is down -0.08%. DAX is up 0.21%. CAC is flat. German 10-year yield is up 0.002 at -0.214. Earlier in Asia, Nikkei rose 0.47%. Hong Kong HSI rose 0.27%. China Shanghai SSE dropped -0.08%. Singapore Strait Times rose 0.26%. Japan 10-year JGB yield dropped -0.0071 to 0.000. Full Report Here Canada employment rose 35.2k, unemployment rate down to 5.6% US NFP grew 145k, unemployment rate unchanged at 3.5% BoE Tenreyro to discuss possibility of further stimulus in the coming months NFP to guide Dollar's rebound, Gold in medium term correction? Australia retail sales rose 0.9%, performance of services dropped sharply to... Fed officials are comfortable with rates at current level Fed Clarida: US economy begins 2020 in a good place Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol US Crude Oil Inventory Gained, While Refined Product Stockpile Rose Sharply... Gold Driven Higher by Iran Tensions, Falling Yields and Rising Inflation... CFTC Commitments of Traders – NET LENGTH on Crude Oil and... Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/JPY Mid-Day Outlook Daily Pivots: (S1) 109.16; (P) 109.37; (R1) 109.73; More.. Intraday bias in USD/JPY remains on the upside as rise from 107.65 is in progress. Sustained break of 109.72 resistance will resume whole rise from 104.45 to channel resistance (now at 111.46). On the downside, below 109.00 minor support will turn intraday bias neutral first. But overall outlook will remain bullish as long as 38.2% retracement of 104.45 to 109.72 at 107.70 holds. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings AUDJPY Set for Golden Cross in Upward Sloping Channel EUR/USD Outlook: The Pair Gained Bearish Momentum Breaking The 1.1130 Support Dollar Set For A Bullish Turn US Stocks Carve Out New Highs Ahead Of Nonfarm Payrolls Attention Shifts To US Jobs GBPJPY May Realign With Positive Picture Despite Consolidation USDCNH Extends Downtrend To 5-Month Low, Searches For A Rebound USDCAD Climbs Higher But Is Capped By 20-SMA Fundamental Analysis | Technical Analysis In-depth Reports Gold Driven Higher by Iran Tensions, Falling Yields and Rising Inflation Expectations US Dollar May Lose Appeal this Year if Market Sentiment Improves and US Growth Slows FX Year Ahead 2020: Turnaround or Same Old Blues? Oil Prices Jump after Airstrike in Iran. Impacts should be Short-Lived Trade War Continues to Direct the Outlook of Chinese Yuan A Phase One Trade Deal is Reached, What Does It Mean? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 21:30 AUD AiG Performance of Services Index Dec 48.7 53.7 23:30 JPY Overall Household Spending Y/Y Nov -2.00% -2.00% -5.10% 00:30 AUD Retail Sales M/M Nov 0.90% 0.40% 0.00% 0.10% 05:00 JPY Leading Economic Index Nov P 90.9 90.6 91.6 06:45 CHF Unemployment Rate Dec 2.30% 2.30% 2.30% 07:45 EUR France Industrial Output M/M Nov 0.30% 0.10% 0.40% 0.50% 09:00 EUR Italy Industrial Output M/M Nov 0.10% 0.00% -0.30% 13:30 USD Nonfarm Payrolls Dec 145K 160K 266K 256K 13:30 USD Unemployment Rate Dec 3.50% 3.50% 3.50% 13:30 USD Average Hourly Earnings M/M Dec 0.10% 0.30% 0.20% 0.30% 13:30 CAD Net Change in Employment Dec 35.2K 20.0K -71.2K 13:30 CAD Unemployment Rate Dec 5.60% 5.80% 5.90% 15:00 USD Wholesale Inventories Nov 0.00% 0.00%

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