Action Insight Mid-Day Report 1-9-20

Dollar Rises as Iran Risks Fade, Yen and Franc Soften

Action Insight Daily Report 1-9-20 Dollar Firm as Markets Turn Risk On, Sterling Soft Markets are generally back on risk on mode today as the concerns of US-Iran tensions faded. Also, it's finally confirmed that Chinese Vice Premier Liu He will travel to the US for signing the trade deal phase one. Dollar rises broadly with deeper pull back in oil prices and gold. Some resilience is seen in Euro and Swiss Franc too. On the other hand, Sterling is some way weighed down by dovish comments of outgoing BoE Governor Mark Carney. For the week, the greenback is the strongest while Aussie is the weakest together with Yen. Technically, GBP/USD's break of 1.3053 minor support should now bring deeper fall to retest 1.2905 support. But corresponding weakness is not seen in other Sterling pairs yet. USD/JPY is on track to retest 109.27 key resistance. Break will resume whole rise from 104.45. In Europe, currently, FTSE is up 0.43%. DAX is up 1.19%. CAC is up 0.21. German 10-year JGB yield is up 0.0068 at -0.234. Earlier in Asia, Nikkei rose 2.31%. Hong Kong HSI rose 1.68%. China Shanghai SSE rose 0.91%. Singapore Strait Times rose 0.05%. Japan 10-year JGB yield rose 0.0124 to 0.005. Full Report Here US initial jobless claims dropped -9k to 214k BoE Carney: If weakness persists, risk management favors prompt response in... Eurozone unemployment rate unchanged at 7.5%, lowest since 2008 EU Barnier: More than 11 month needed for comprehensive agreement with... China confirms Liu He to go to US next week for... Australia trade surplus widened to AUD 5.8B as exports jumped World Bank downgrades 2020 global growth forecast to 2.5% as downside... S&P 500 hit record high as risk of imminent US-Iran war... 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 GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.3061; (P) 1.3116; (R1) 1.3150; More.... GBP/USD's break of 1.3053 suggests resumption of fall from 1.3284. Intraday bias is turned to the downside for 1.2905 support. Overall, price actions from 1.3514 are seen as a corrective pattern. Sustained break of 38.2% retracement of 1.1958 to 1.3514 at 1.2920 will target 61.8% retracement at 1.2552. On the upside, break of 1.3284 will bring retest of 1.3514 high. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Investors Breath a Sigh of Relief Market Brief: Risk ON as Middle East Fears Recede Further US 100 Rallies to Fresh Record Highs Again Swissie Demand Easing NFP Could Be Less Exciting In December But Dollar May Not Care GER 30 Index Reactivates Long-Term Uptrend, Eyes Record High Copper Gearing Up For Potential Break Out Oil Crashes, Stocks Roar Higher As Geopolitical Nerves Calm NZDUSD's Decline Off 2019 High Turns Sideways At 23.6% Fibonacci 1.2660 Remains Pivotal For GBP/CHF 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 00:01 GBP BRC Retail Sales Monitor Y/Y Dec 1.70% -4.90% 00:30 AUD Trade Balance (AUD) Nov 5.80B 4.10B 4.50B 4.08B 01:30 CNY CPI Y/Y Dec 4.50% 4.70% 4.50% 01:30 CNY PPI Y/Y Dec -0.50% -0.40% -1.40% 07:00 EUR Germany Industrial Production M/M Nov 1.10% 0.70% -1.70% -1.00% 07:00 EUR Germany Trade Balance (EUR) Nov 18.3B 20.9B 20.6B 20.4B 07:30 CHF Real Retail Sales Y/Y Nov 0.00% 0.50% 0.70% 0.40% 10:00 EUR Eurozone Unemployment Rate Nov 7.50% 7.50% 7.50% 13:15 CAD Housing Starts Y/Y Dec 197K 215K 201K 204K 13:30 CAD Building Permits M/M Nov -2.40% 2.20% -1.50% 13:30 USD Initial Jobless Claims (Jan 3) 214K 222K 222K 223K 15:30 USD Natural Gas Storage -51B -58B

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