Action Insight Weekly Report 1-18-20

Dollar Could Be Staging Bullish Reversal as Trade Tensions Eased

Action Insight Weekly Report 1-18-20 Dollar Could Be Staging Bullish Reversal as Trade Tensions Eased The completion of US-China trade deal phase one was well received by investors. There was an additional bonus of scrapping the label of China as currency manipulator by the US Treasury. The is no time frame for the phase two negotiations yet. But the US is already working with EU and Japan to push WTO changes regarding subsidies and forced technology transfers. The USMCA passed the Senate, and is now waiting for Canada's ratification. Situation regarding trade tensions seems to be moving in the right direction. In the currency markets, Swiss Franc ended as the strongest one, as US put Switzerland back in currency manipulator monitoring list. Political uncertainty in Russia also triggered some safe haven flow. The greenback followed as the second strongest. Late rally in Dollar index adds to the case of near term bullish reversal. Yen was the weakest one on risk appetite in stocks markets. Sterling was second weakest on increasing bet on BoE rate cuts. Full Report Here Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Weekly Outlook AUD/USD recovered to 0.6933 last week but quickly reversed. As it's staying in consolidation above 0.6849, initial bias remains neutral this week first. Outlook is unchanged that rebound from 0.6670 could have completed with three waves up to 0.7031. Break of 0.6849 will turn bias to the downside for 0.6754 support. Decisive break there will confirm this bearish case. On the upside, however, break of 0.6933 will turn focus back to 0.7031 resistance instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Canadian Trade Worries Easing, But Domestic Headwinds Remain ECB Preview: Time to Reveal the Scope Weekly Economic and Financial Commentary: A Pretty Good Start to the Year The Weekly Bottom Line: Canada – Trade Deals Abroad, Decent Data At Home Forward Guidance: Trade Deals Just One Factor in BoC's Outlook The Week Ahead – BOJ, BOC, and ECB to Keep Rates on Hold as Markets Focus on Global PMI Readings and Earnings OIL WEEK AHEAD: Davos' Explosive Mix Weekly Focus: Central Banks are Back on Stage Week ahead – ECB, BoJ, and BoC Meet Before Crucial European and UK PMIs 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?

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