Action Insight Weekly Report 1-12-20

Dollar Rally Jeopardized by Job Data, No Bullish Reversal Yet

Action Insight Weekly Report 1-12-20 Dollar Rally Jeopardized by Job Data, No Bullish Reversal Yet After some jitters on Iran tensions, Dollar ended up as the strongest one last week. Strong stocks and steady yields provided some support to the greenback. Fed officials also reaffirmed the base stance to stand pat this year. US and China are on track to sign the phase one trade deal this week. Yet, Dollar's rally was somewhat jeopardized by solid but unspectacular non-farm payroll report. It still couldn't prove it's ready for a broad-based, sustainable comeback yet. Technically, USD/JPY couldn't break through 109.72 resistance to resume the rise form 104.45. EUR/USD was held above 1.1066 support, keeping the rebound from 1.0879 alive. USD/CHF and USD/CAD are both held by 0.9770 and 1.3102 resistance respectively, keeping near term outlook bearish. Even AUD/USD recovered ahead of 0.6838 support. Dollar will now look into inflation and retail sales data this week, as well as any positive development regarding US-China trade deal phase too. Full Report Here Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CAD Weekly Outlook USD/CAD rose to 1.3104 last week but failed to sustain above 1.3102 support turned resistance and retreated. Outlook is unchanged that it's in consolidation and larger decline is expected to continue. Initial bias is neutral this week first. On the downside, break of 1.2951 will turn bias to the downside for 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next. However, sustained break of 1.3102 will confirm short term bottoming and target 55 day EMA (now at 1.3149) and above. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Consumers Are Resilient Even in Challenging Times Weekly Economic and Financial Commentary: A (Mostly) Happy New Year The Weekly Bottom Line: Services Keep the Economic Engine Humming Along Bank of Canada Surveys to Highlight Week Ahead Week Ahead: Will There Be More Middle East Drama? Week Ahead – It's a Trade Deal! Flurry of UK Data Due as Pound Grapples with Rate Cut Risks Week Ahead – US and China Set to Seal Phase One Deal ahead of Chinese Q4 GDP Release China Weekly Letter – Recovery, Stimulus and Signs of New Reform Push Weekly Focus – Finally, the Phase One Deal Will be Signed. Next Up, Phase Two Fundamental Analysis | Technical Analysis In-depth Reports 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?

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