Action Insight Mid-Day Report 1-8-20

Dollar Rebounds on Lesser Iran Risks and Strong Job Data

Action Insight Mid-Day Report 1-8-20 Dollar Rebounds on Lesser Iran Risks and Strong Job Data Dollar rebounds strongly as risk of imminent escalation in US-Iran tensions seem to have eased. It's reported there was no casualties caused by Iran's retaliation strikes against US forces in Iraq. The greenback is additionally supported by strong ADP employment report. Dollar follows New Zealand Dollar as second strongest. On the other hand, Euro is the weakest one for now, followed by Yen, and then Sterling. Gold and oil reversed earlier gains and are both trading lower for the day. Technically, USD/JPY's focus is immediately back on 108.86 minor resistance. Break should confirm completion of consolidation from 109.27 at 107.65. Further rise should then be seen back to retest 109.27 high. EUR/CHF should be finally getting rid of 1.0811 low decisively. Larger down trend is resuming for 1.0648 projection level. In Europe, FTSE is currently down -0.10%. DAX is up 0.34%. CAC is up 0.15%. German 10-year yield is up 0.023 at -0.260. Earlier in Asia, Nikkei dropped -1.57%. Hong Kong HSI dropped -0.83%. China Shanghai dropped -1.22%. Singapore Strait Times dropped -0.06%. Japan 10-year JGB yield rose 0.0034 at -0.006. Full Report Here US ADP job grew 202k, strong across companies of all sizes EU said without extension of Brexit transition, cannot agree on every... Eurozone economic sentiment rose to 101.5, significant rise in Italy and... Iran said strikes were proportionate and in self-defense USDJPY recovers after Trump said all is well with Iran retaliation Gold breaks 1600 as Iran retaliates, resistance at 1625 Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Gold Driven Higher by Iran Tensions, Falling Yields and Rising Inflation... CFTC Commitments of Traders – NET LENGTH on Crude Oil and... CFTC Commitments of Traders – NET LENGTH for USD Futures Shrank... Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/JPY Mid-Day Outlook Daily Pivots: (S1) 108.29; (P) 108.46; (R1) 108.66; More.. USD/JPY's rebound from 107.65 extends higher in early US session and focus is back on 108.86 resistance. Break should indicate that correction from 109.72 has completed at 107.65, after hitting 38.2% retracement of 104.45 to 109.72 at 107.70. Further rise should then be seen to retest 109.72 high. In case of another fall, we'd still expect strong support form 107.70 to contain downside. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Are Investors Reacting Enough to Events in Middle East? EURGBP Tests Downtrend Line, Bearish Outlook Intact Middle East Tensions, EUR Puzzled EURJPY Loses Steam, Confined Below 200-MA GBP/USD Technical Analysis: The Pair Is Currently Consolidating In A Range Iran Attacks US Bases, But Risk Aversion Doesn't Last Iran Strikes Back At US Risk Aversion Reigns AUDUSD Pauses Bearish Move Near 0.6850, Remains In Bullish Channel The Kiwi – Low Hanging Fruit? 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 23:30 JPY Labor Cash Earnings Y/Y Nov -0.20% -0.20% 0.00% 00:30 AUD Building Permits M/M Nov 11.80% 2.10% -8.10% -7.90% 05:00 JPY Consumer Confidencex Dec 39.1 39.6 38.7 07:00 EUR Germany Factory Orders M/M Nov -1.30% 0.10% -0.40% 0.20% 07:45 EUR France Trade Balance (EUR) Nov -5.6B -5.0B -4.7B -4.9B 10:00 EUR Eurozone Economic Sentiment Indicator Dec 101.5 101.4 101.3 101.2 10:00 EUR Eurozone Industrial Confidence Dec -9.3 -9 -9.2 -9.1 10:00 EUR Eurozone Consumer Confidence Dec -8.1 -8.1 -8.1 -7.2 10:00 EUR Eurozone Services Sentiment Dec 11.4 9.5 9.3 9.2 10:00 EUR Eurozone Business Climate Dec -0.25 -0.16 -0.23 -0.21 13:15 USD ADP Employment Change Dec 202K 150K 67K 15:30 USD Crude Oil Inventories -3.4M -11.5M

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