Action Insight Daily Report 2-10-20

Markets Mildly Lower as Coronavirus Death Tolls Break 900

Action Insight Daily Report 2-10-20 Markets Mildly Lower as Coronavirus Death Tolls Break 900 Asian markets trade mildly lower as China's coronavirus continues to spread. But losses in major indices are so far limited. In the currency markets, commodity currencies are trading to recovery some of last week's losses, together with Sterling. Yen and Dollar turn weaker despite mild risk aversion. But major pairs and crosses are confined within Friday's range in general. There is no change in the greenback's near term bullishness so far. Technically, bias stays on the downside for EUR/USD as long as 1.0985 minor resistance holds. Same for GBP/USD as long as 1.2959 minor resistance holds. USD/CAD should still take on 1.3327 resistance as long as 1.3262 minor support holds. Though, break of these levels will suggest that Dollar has topped out at least temporarily and is in pull back. In Asia, currently, Nikkei is down -0.49%. Hong Kong HSI is down -0.62%. China Shanghai SSE is up 0.09%. Singapore Strait Times is down -0.68%. 10-year JGB yield is down -0.0181 at -0.054. Full Report Here Japan Abe: Coronavirus has a major impact of tourism, economy and... Beijing in closed community management as China's coronavirus death tolls hit... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Traders Took Profit after Recent Gold... CFTC Commitments of Traders – Uncertainty of Novel Coronavirus Continued to...   Dollar Jumped Broadly on Solid Batch of Economic Data, Coronavirus Fears...   Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CAD Daily Outlook Daily Pivots: (S1) 1.3285; (P) 1.3302; (R1) 1.3325; More.... USD/CAD is losing some upside momentum as seen in 4 hour MACD. But intraday bias stays on the upside with 1.3262 minor support intact. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Sustained break of 1.3327 resistance should confirm this bullish case and pave the way for retest of 1.3664 high. On the downside, below 1.3262 minor support will turn intraday bias neutral for consolidation first, before staging another rally. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings EUR/USD Nosedives, More Downsides Likely EURUSD Weakens Further On Bear Pressure Weekly Economic and Financial Commentary: A Solid Week To Be Sure, But Keep an Eye on the Details The Weekly Bottom Line: Green Shoots Threatened by Viral Outbreak Canada GDP vs Labour Market Growth Trends Diverging? Again? Week Ahead: Have We Seen the Top in Coronavirus Cases? Oil Market Week Ahead: Corroding Virus The Week Ahead – Virus Risk Uncertainty, Powell Testifies to Congress, RBNZ to Signal Patience, and Germany's Recession Fears Cliff Notes: Confidence in the Face of Adversity Weekly Focus: Global Risk Sentiment Boosted as Coronavirus Fears Abate Week Ahead – RBNZ Meeting, US Retail Sales And UK GDP To Headline Muted Week Fundamental Analysis | Technical Analysis In-depth Reports RBA Statement on Monetary Policy Sets Out Key Themes for 2020 Coronavirus Outbreak To See Australian Economy Stall In Q1 More Rate Cuts Expected as Novel Coronavirus Hurt China's Economy Severely Brexit Monitor: Withdrawal Done, Now Moving to the Real Brexit Talks Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:50 JPY Bank Lending Y/Y Jan 1.90% 1.90% 1.80% 23:50 JPY Current Account (JPY) Dec 1.71T 1.68T 1.79T 1:30 CNY CPI Y/Y Jan 5.40% 4.90% 4.50% 1:30 CNY PPI Y/Y Jan 0.10% 0.10% -0.50% 5:00 JPY Eco Watchers Survey: Current Jan 41.9 40.5 39.8 6:45 CHF Unemployment Rate M/M Jan 2.30% 2.30% 7:30 CHF CPI M/M Jan -0.20% 0.00% 7:30 CHF CPI Y/Y Jan 0.20% 0.20% 9:00 EUR Italy Industrial Output M/M Dec 0.10% 13:15 CAD Housing Starts Y/Y Jan 210.0K 197K 13:30 CAD Building Permits M/M Dec 3.50% -2.40%

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