Action Insight Mid-Day Report 1-15-20

Swiss Franc Surges after Russian Prime Minister Resigns, Taking Euro Higher

Action Insight Mid-Day Report 1-15-20 Swiss Franc Surges after Russian Prime Minister Resigns, Taking Euro Higher Swiss Franc jumps broadly on political news from Russia today and takes the Euro higher. Yen follow as third strongest on risk aversion as European stocks also dive on the news. Sterling is among the weakest, following weaker than expected CPI, as well as dovish comments from a BoE dove. Dollar is mixed for now, as markets await, finally, the signing of US-China trade deal phase one. Technically, USD/CHF's break of 0.9646 support suggests resumption of whole down trend from 1.0237. Next short to medium term target is 0.9445 projection level. EUR/GBP might has a take on 0.8595 temporary top again today. Break will extend recent rebound from 0.8276 to 0.8676 fibonacci level. In Europe, currently, FTSE is up 0.02%. DAX is down -0.40%. CAC is down -0.42%. German 10-year yield is down -0.0458 to -0.214. Earlier in Asia, Nikkei dropped -0.45%. Hong Kong HSI dropped -0.39%. China Shanghai SSE dropped -0.54%. Singapore Strait Times dropped -0.41%. Japan 10-year yield dropped -0.0094 to 0.006, staying positive. Full Report Here Russian PM resigns to give way to Putin's constitutional changes US Empire State manufacturing rose to 4.8 US Mnuchin: China made very strong commitments to stop forced technology... Eurozone industrial rose 0.2% mom in November UK CPI slowed to 1.3%, lowest since Dec 2016 BoE Saunders: Possibly appropriate to cut rates further BoJ downgrades economic assessments of three regions BoJ Kuroda pledges again to take additional easing if risks heigten US, EU and Japan to push WTO rules on subsidies and... Mnuchin: No further tariff relief on China until phase 2 trade... 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 USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9656; (P) 0.9685; (R1) 0.9703; More... USD/CHF drops to as low as 0.9635 so far today. Break of 0.9646 support indicates resumption of larger down trend from 1.0237. Intraday bias is back on the downside for 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. On the upside, break of 0.9762 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Investors Skeptical About Deal USD/JPY Outlook: Reversal Pattern Is Forming On Daily Chart GBP/USD Slumps Through $1.30 As Rate Cut Imminent UK CPI Misses Expectations GBP/USD Outlook: Weak Inflation Increases Bets For Rate Cut And Keeps Pound Under Pressure Markets Turn Cautious Ahead Of Trade Deal Signing As Mnuchin Dashes Hopes Of Further Tariff Cuts AUDUSD Retreats Below Short Symmetrical Triangle Oil Price Outlook: The Price Moved Into A Bearish Zone Below $58.50 EURJPY Hovers Below 6-Month Peak, Holds In Ascending Channel 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 23:50 JPY Money Supply M2+CD Y/Y Dec 2.70% 2.70% 2.80% 2.70% 06:00 JPY Machine Tool Orders Y/Y Dec P -33.60% -37.90% 09:30 GBP DCLG House Price Index Y/Y Nov 2.20% 1.20% 0.70% 1.30% 09:30 GBP CPI M/M Dec 0.00% 0.20% 0.20% 09:30 GBP CPI Y/Y Dec 1.30% 1.50% 1.50% 09:30 GBP Core CPI Y/Y Dec 1.40% 1.70% 1.70% 09:30 GBP RPI M/M Dec 0.30% 0.30% 0.20% 09:30 GBP RPI Y/Y Dec 2.20% 2.30% 2.20% 09:30 GBP PPI - Input M/M Dec 0.10% 0.30% -0.30% 0.50% 09:30 GBP PPI - Input Y/Y Dec -0.10% -0.70% -2.70% -1.90% 09:30 GBP PPI - Output M/M Dec 0.00% 0.00% -0.20% 09:30 GBP PPI - Output Y/Y Dec 0.90% 0.90% 0.50% 09:30 GBP PPI - Output Core M/M Dec -0.10% 0.00% -0.10% 09:30 GBP PPI - Output Core Y/Y Dec 0.90% 1.00% 1.10% 10:00 EUR Eurozone Trade Balance (EUR) Nov 19.2B 22.3B 24.5B 24.0B 10:00 EUR Industrial Production M/M Nov 0.20% 0.30% -0.50% -0.90% 13:30 USD Empire State Manufacturing Index Jan 4.8 4.1 3.5 13:30 USD PPI M/M Dec 0.10% 0.20% 0.00% 13:30 USD PPI Y/Y Dec 1.30% 1.20% 1.10% 13:30 USD PPI Core M/M Dec 0.10% 0.20% -0.20% 13:30 USD PPI Core Y/Y Dec 1.10% 1.40% 1.30% 15:30 USD Crude Oil Inventories 0.4M 1.2M 19:00 USD Fed's Beige Book

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