Action Insight Daily Report 2-19-20

Markets Stabilized as Focus Turns to FOMC Minutes, Dollar Resilient

Action Insight Daily Report 2-19-20 Markets Stabilized as Focus Turns to FOMC Minutes, Dollar Resilient Yen, Swiss Franc and Dollar weaken mildly today as risk markets stabilized. On the other hand, commodity currencies recover generally. But the movements are so far limited. Investors remain vigilant on the development of China's Wuhan coronavirus outbreak, but there is no breakthrough in either direction yet. FOMC minutes will be a focus today but inspirations from there is unlikely. We'd expect the trend of weak Euro and strong Dollar. Technically, USD/JPY recovers strongly today and focus is back on 110.14 temporary top. Break there will target 110.28 resistance. Break will confirm resumption of whole rise from 104.45. EUR/GBP is still holding above 0.8276 low. But there is no sign of sustainable rebound yet. Firm break there will resume whole fall from 0.9324. In Asia, currently, Nikkei is up 1.02%. Hong Kong HSI is up 0.44%. China Shanghai SSE is up 0.30%. Singapore Strait Times is up 0.68%. Japan 10-year JGB yield is up 0.008 at -0.042. Overnight, DOW dropped -0.56%. S&P 500 dropped -0.29%. NASDAQ rose 0.02%. 10-yaer yield dropped -0.032 to 1.556. Full Report Here RBNZ Orr: Pleasing how resilient New Zealand economy has been Fed Kaplan expect solid growth this year, interest rate roughly appropriate WHO Tedros warned coronavirus is public enemy number one   Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Haunted by Domestic Weakness and Coronavirus Uncertainty, Euro's Weakness is Set... RBA Minutes Reveal that Members Consider Cutting Rates Below 0.75%, Warn... 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) 109.71; (P) 109.83; (R1) 110.00; More.. USD/JPY recovers notably today but stays below 110.14 temporary top. Intraday bias remains neutral first. Further rise remains in favor as long as 109.53 minor support holds. Firm break of 110.28 will resume whole rally from 104.45 for channel resistance (now at 111.16). On the downside, however, 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 Gold Price Rallies To New 2020 High, Primed For More Gains Gold Not Taking Any Chances UK Claimant Count Better Than Expected AUDUSD Broader Bias Remains Lower Long Term Canadian Inflation to Test Loonie's Rebound Fundamental Analysis | Technical Analysis In-depth Reports Haunted by Domestic Weakness and Coronavirus Uncertainty, Euro's Weakness is Set to Continue RBA Minutes Reveal that Members Consider Cutting Rates Below 0.75%, Warn of Coronavirus Uncertainty 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 23:30 AUD Westpac Leading Index M/M Jan 0.10% 0.10% 0.00% 23:50 JPY Trade Balance (JPY) Jan -0.22T -0.10T -0.11T 23:50 JPY Machinery Orders M/M Dec -12.50% -9.00% 18.00% 0:30 AUD Wage Price Index Q/Q Q4 0.50% 0.50% 0.50% 9:00 EUR Eurozone Current Account (EUR) Dec 34.5B 33.9B 9:30 GBP DCLG House Price Index Y/Y Dec 2.30% 2.20% 9:30 GBP CPI M/M Jan -0.50% 0.00% 9:30 GBP CPI Y/Y Jan 1.40% 1.30% 9:30 GBP CPI Core Y/Y Jan 1.40% 1.40% 9:30 GBP RPI M/M Jan -0.70% 0.30% 9:30 GBP RPI Y/Y Jan 2.40% 2.20% 9:30 GBP PPI Input M/M Jan -0.40% 0.10% 9:30 GBP PPI Input Y/Y Jan 3.50% -0.10% 9:30 GBP PPI Output M/M Jan -0.10% 0.00% 9:30 GBP PPI Output Y/Y Jan 1.20% 0.90% 9:30 GBP PPI Output Core M/M Jan 0.10% -0.10% 9:30 GBP PPI Output Core Y/Y Jan 0.60% 0.90% 13:30 USD Building Permits Jan 1.450M 1.420M 13:30 USD Housing Starts Jan 1.390M 1.608M 13:30 USD PPI M/M Jan 0.20% 0.10% 13:30 USD PPI Y/Y Jan 1.40% 1.30% 13:30 USD PPI Core M/M Jan 0.20% 0.10% 13:30 USD PPI Core Y/Y Jan 1.20% 1.10% 13:30 CAD CPI M/M Jan 0.30% 0.00% 13:30 CAD CPI Y/Y Jan 2.20% 2.20% 13:30 CAD CPI Common Y/Y Jan 2.00% 2.00% 13:30 CAD CPI Median Y/Y Jan 2.20% 2.20% 13:30 CAD CPI Trimmed Y/Y Jan 2.20% 2.10% 19:00 USD FOMC Minutes

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