Action Insight Mid-Day Report 1-16-20

Yen and Dollar Lower as US Investors Cheer Trade Deal, Markets Mixed Elsewhere

Action Insight Mid-Day Report 1-16-20 Yen and Dollar Lower as US Investors Cheer Trade Deal, Markets Mixed Elsewhere Yen and Dollar trade broadly lower today while markets are having different reactions to US-China trade deal phase one, which was signed finally yesterday. Asian stocks were mixed while European stocks are soft. But US futures point to higher open, probably extending recent record runs, while 10-year yield is back above 1.8 handle. Australian and New Zealand Dollar are the strongest today. Swiss Franc is also firm as safe haven flows on Russia uncertainty continue. Technically, AUD/USD breaches 0.6930 but cannot sustain above this minor resistance yet. As long as 0.6930 holds, we'd still expect another decline through 0.6849 to extend the fall from 0.7031. However, firm break of 0.6930 will revive near term bullishness for 0.7031 and above. This will be a focus in European session. EUR/JPY breaches 122.76 temporary top and should be trying to extend recent rise form 115.86. Yet, upside momentum is not too convincing for now. In Europe, currently, FTSE is down -0.29%. DAX is down -0.02%. CAC is up 0.06%. German 10-year yield is down -0.012 at -0.209, back below -0.2 handle. Earlier in Asia, Nikkei rose 0.07%. Hong Kong HSI rose 0.38%. China Shanghai SSE dropped -0.52%. Singapore Strait Times rose 0.65%. Japan 10-year JGB yield rose 0.0019 to 0.009. Full Report Here Philly Fed manufacturing business outlook jumped to 17 US initial jobless claims dropped 10k to 204k US retail sales rose 0.3%, ex-auto sales up 0.7% EU Hogan warned devil is in the detail in US-China trade... ECB minutes: Policy rates not yet reached reversal rate German BDI projects growth to slow to 0.5% in 2020 Chinese VP Liu: Correct choice for US to remove China as... US-China trade deal phase one signed to right the wrongs Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol US-China Phase I Trade Deal Signed, Execution & Phase II Negotiations... Low Base and Frontloading Drove China's Trade Higher in December CFTC Commitments of Traders – NET SHORT on Safe Haven Currencies... Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9621; (P) 0.9651; (R1) 0.9670; More... USD/CHF's fall is still in progress and intraday bias stays on the downside. Current down trend form 1.0237 should target 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. On the upside, above 0.9665 minor resistance will turn intraday bias neutral first. But 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 Copper Futures Unlock 8-Month High; Positive Momentum Increases Japan 225 Index Stalls Ahead Of 14-Month Peak Of 24,162 EUR/USD Holds Gains Ahead Of A Busy Session Investors Relieved But Not Blown Away Phase One Deal Brings Some Cheer Despite Doubts, Dollar Drifts Lower CHFJPY Flies Near 13-Month High, Positive In Medium Term With New Tax Reforms, US Are Kicking The Can Down The Road USDJPY Bulls Trapped Below 110.00 After Breaking Resistance Trendline NZDUSD Maintains Bearish Picture In Very Short-Term 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? Low Base and Frontloading Drove China's Trade Higher in December US Dollar May Lose Appeal this Year if Market Sentiment Improves and US Growth Slows FX Year Ahead 2020: Turnaround or Same Old Blues? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:50 JPY PPI Y/Y Dec 0.90% 0.90% 0.10% 00:01 GBP RICS Housing Price Balance Dec -2% -5% -12% -11% 07:00 EUR Germany CPI M/M Dec F 0.50% 0.50% 0.50% 07:00 EUR Germany CPI Y/Y Dec F 1.50% 1.50% 1.50% 12:30 EUR ECB Monetary Policy Meeting Accounts 13:30 USD Retail Sales M/M Dec 0.30% 0.30% 0.20% 0.30% 13:30 USD Retail Sales ex Autos M/M Dec 0.70% 0.50% 0.10% 0.00% 13:30 USD Initial Jobless Claims (Jan 10) 204K 220K 214K 13:30 USD Import Price Index M/M Dec 0.30% 0.30% 0.20% 0.10% 13:30 USD Philadelphia Fed Manufacturing Survey Jan 17 3.9 0.3 15:00 USD Business Inventories Nov -0.10% 0.20% 15:00 USD NAHB Housing Market Index Jan 76 76 15:30 USD Natural Gas Storage -91B -44B

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