Action Insight Mid-Day Report 1-14-20

Dollar Firm as after CPI, EUR/CHF Downside Breakout

Action Insight Mid-Day Report 1-14-20 Dollar Firm as after CPI, EUR/CHF Downside Breakout Dollar rises broadly in rather quiet markets today. Consumer inflation data from the US is supporting the greenback's firmness, but provides not further lift. Indeed, Swiss Franc is even stronger, as the best performing one today so far. China Yuan is also notably stronger than Dollar, after US scrapped the China's currency manipulator label. On the other hand, New Zealand Dollar is the weakest one, followed by Euro. The common currency is dragged by the selloff in EUR/CHF. Focus will now turn to tomorrow's US-China trade deal phase one signing. Technically, EUR/CHF broke 1.0782 temporary low to resume medium term down trend. Next target is 1.0648 projection level. Selloff in EUR/CHF drags down both EUR/GBP and EUR/JPY, as the latters failed to sustain above recent resistance level. It looks like EUR could engage in more consolidative trading against Sterling and Yen first. AUD/USD's recovery is starting to lose momentum ahead of 0.6930 minor resistance. We might see a retest on 0.6849 temporary low later in the session, should Dollar gathers some steam. In Europe, currently, FTSE is up 0.08%. DAX is down -0.10%. CAC is down -0.06%. German 10-year yield is down -0.0094 at -0.168. Earlier in Asia, Nikkei rose 0.73%. Hong Kong HSI dropped -0.24%. China Shanghai SSE dropped -0.28%. Singapore Strait Times rose 0.60%. Japan 10-year JGB yield rose 0.0146 to 0.015. Full Report Here US CPI accelerated to 2.3%, core CPI unchanged at 2.3% Swiss tells US it's not engaging in currency manipulation ECB Mersch: Economy giving goods signs of stabilization Gold dips as correction from 1611 extends US, EU and Japan urged to launch trilateral effort against China's... USTR Lighthizer is no Pollyanna on how China adheres to trade... Yuan surges as US drops China currency manipulator label Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Low Base and Frontloading Drove China's Trade Higher in December CFTC Commitments of Traders – NET SHORT on Safe Haven Currencies... CFTC Commitments of Traders – NET LENGTH on Safe Haven Assets... Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/CHF Mid-Day Outlook Daily Pivots: (S1) 1.0795; (P) 1.0814; (R1) 1.0830; More... EUR/CHF's down trend resumes by breaking through 1.0782 and reaches as low as 1.0760 so far. Intraday bias is back on the downside. Next target is 61.8% projection of 1.1476 to 1.0811 from 1.1059 at 1.0648. On the upside, break of 1.0833 resistance is needed to indicate short term bottoming. Otherwise, outlook remains bearish in case of recovery. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings WTI Oil Outlook: Bears Are Pausing Above 200DMA, Awaiting US Crude Inventories Reports WTI Oil Futures Flirt With Supportive Line, Look Oversold CADJPY Remains Positive Despite Pressure From Sellers Can China Actually Buy US$50bn Of US Energy Products? Markets Steady As Trade Deal Details Emerge Dollar Hits 110 Yen After US Removes China As Currency Manipulator AUDCHF Turns Cautiously Negative After Multi-Month Low I Bet You A Yuan And Raise You An S&P Fundamental Analysis | Technical Analysis In-depth Reports Can China Actually Buy US$50bn Of US Energy Products? Low Base and Frontloading Drove China's Trade Higher in December Consumers Are Resilient Even in Challenging Times 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? 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 21:45 NZD Building Permits M/M Nov -8.50% -1.10% -1.30% 23:50 JPY Bank Lending Y/Y Dec 1.80T 2.10% 2.10% 23:50 JPY Current Account (JPY) Nov 1.79T 1.78T 1.73T 02:00 CNY Exports Y/Y (CNY) Dec 9.00% 1.30% 02:00 CNY Imports Y/Y (CNY) Dec 17.70% 2.50% 02:00 CNY Trade Balance (CNY) Dec 329B 315B 274B 03:00 CNY Trade Balance (USD) Dec 46.8B 45.8B 38.7B 03:00 CNY Exports (USD) Y/Y Dec 7.60% -1.30% 03:00 CNY Imports (USD) Y/Y Dec 16.30% 0.50% 05:00 JPY Eco Watchers Survey: Current Dec 39.8 40.9 39.4 11:00 USD NFIB Business Optimism Index Dec 102.7 103.1 104.7 13:30 USD CPI M/M Dec 0.20% 0.20% 0.30% 13:30 USD CPI Y/Y Dec 2.30% 2.30% 2.10% 13:30 USD CPI Core M/M Dec 0.10% 0.20% 0.20% 13:30 USD CPI Core Y/Y Dec 2.30% 2.30% 2.30%

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!