Action Insight Daily Report 2-17-20

Yen and Nikkei Lower on GDP Contraction, Pessimistic Outlook

Action Insight Daily Report 2-17-20 Yen and Nikkei Lower on GDP Contraction, Pessimistic Outlook Asian markets are mixed as another week starts. Nikkei weakens, together with Yen, as data showed the Japan economy suffered worst contraction in six years. Singapore Strait Times is also mildly lower after the government downgrade this year's growth forecast. Yet, China and Hong Kong stocks are trading mildly higher despite continuation of Wuhan coronavirus outbreak. The currency markets are also mixed too, with Kiwi trading as the weakest while Aussie is the strongest. Technically, Euro is losing some intraday downside momentum in a slow session. But further fall remains in favor. Levels to watch include 1.0888 minor resistance in EUR/USD, 119.55 minor resistance in EUR/JPY, and 0.8386 minor resistance in EUR/GBP. As long as these levels hold, further fall is still in favor in Euro for the week ahead. In Asia, Nikkei is currently down -0.84%. Hong Kong HSI is up 0.38%. China Shanghai SSE is up 1.37%. Singapore Strait Times is down -0.16%. Japan 10-year JGB yield is down -0.0033 at -0.035. Full Report Here Singapore downgrades 2020 growth forecasts on China's coronavirus outbreak Japan GDP suffered worst contraction in 6 years, sentiments pessimistic China coronavirus deaths hit 1770, PBoC cut 1-yr MLF rate Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Weak Economic Developments in Eurozone Drove... CFTC Commitments of Traders – Gold Consolidates at High Level as... Euro Collapsed on Coronavirus Spillover Fears, Next Two Weeks Crucial Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/JPY Daily Outlook Daily Pivots: (S1) 109.68; (P) 109.80; (R1) 109.89; More.. Intraday bias in USD/JPY remains neutral for the moment and further rise is in favor as long as 109.53 minor support holds. On the upside, break of 110.28 will resume whole rally from 104.45. Though, break of 109.53 will turn bias to the downside for 108.30 support instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings EUR/USD Nosedives Below 1.0850, Recovery Could Be Capped Weekly Economic and Financial Commentary: Mildly Easing Momentum as Coronavirus Hits The Weekly Bottom Line: A Mixed Bouquet Week Ahead: More Downside for the Euro? Week Ahead – Turning a Corner on COVID-19 How Long Until US Stocks 'Feel the Bern'? Week Ahead – Flash February PMIs Eyed as Virus Outbreak Shows Few Signs of Slowing Cliff Notes: Coronavirus Not The Only Risk Australia Faces Oil Week Ahead: Will Russia, Or Won't It? Forward Guidance: Coronavirus Impact? It's Still "Early Days" Weekly Focus: Global Coronavirus Repercussions – What is the Damage? Fundamental Analysis | Technical Analysis In-depth Reports How Long Until US Stocks 'Feel the Bern'? Are U.S. Factories Braced for Supply Disruptions? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:50 JPY GDP Q/Q Q4 P -1.60% -0.90% 0.40% 23:50 JPY GDP Deflator Y/Y Q4 P 1.30% 0.90% 0.60% 0:01 GBP Rightmove House Price Index M/M Feb 0.80% 2.30% 4:30 JPY Industrial Production M/M Dec F 1.20% 1.30% 1.30% 9:00 EUR German Buba Monthly Report 13:30 CAD Foreign Securities Purchases (CAD) Dec 4.82B -1.75B

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