Action Insight Mid-Day Report 2-10-20

Dollar Extending Rally Against Euro and Canadian

Action Insight Mid-Day Report 2-10-20 Dollar Extending Rally Against Euro and Canadian Global financial markets are in mild risk averse mode today but movements are limited. Dollar is lifted by renewed buying in early US session, and it's extending recent rally against Euro and Canadian Dollar. Strength against other major currencies is not apparent yet. In particular, Sterling is currently the strongest one, displaying some resilience. On the other hand, Loonie turns softer as WTI oil price is back pressing 50 handle. Technically, 1.3327 resistance in USD/CAD is a focus today. Decisive break there should confirm completion of the triangle consolidation from 1.3664 and bring retest of this high. EUR/USD's decline is picking up downside momentum again and is on track to retest 1.0879 low. GBP/USD could have formed a temporary low at 1.2872. But recovery should be limited well below 1.3209 resistance to bring another fall. In Europe, currently, FTSE is down -0.26%. DAX is down -0.33%. CAC is down -0.40%. Germany 10-year yield is down -0.020 at -0.402. Earlier in Asia, Nikkei dropped -0.60%. Hong Kong HSI dropped -0.59%. China Shanghai SSE rose 0.51%. Singapore Strait Times dropped -0.58%. Japan 10-year JGB yield dropped -0.0208 to -0.056. Full Report Here Fed Bowman: National economic backdrop looks very favorable Canada housing starts rose 7.4 to CAD 8.7B WHO Galea: Absolutely impossible to say China's coronavirus containment has worked Eurozone Sentix investor confidence dropped to 5.2, China's coronavirus cast a... 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 Soaring Inflation Makes PBOC's Easing Measures More Challenging RBNZ to Leave OCR Unchanged at 1% and Warn of Risks...   Dollar Jumped Broadly on Solid Batch of Economic Data, Coronavirus Fears...   Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.0929; (P) 1.0957; (R1) 1.0972; More... EUR/USD's decline from 1.1239 is extending today and intraday bias stays on the downside. Further fall should be seen to retest 1.0879 low. On the upside, above 1.0985 minor resistance will turn intraday bias neutral first. But recovery should be limited below 1.1095 resistance to bring fall resumption. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings EUR/USD: Attitude to Risk Is Still Moderate CHFJPY Slips In Bullish Picture In Medium Term Gold's Climb Restricted By Bollinger Band And 23.6% Fibonacci 'King Dollar' Continues Its Reign After Solid Jobs Data EU Morning & Week Ahead: Neutral Dollar Index Futures Hold At 4-Month High, Lack Direction In Long-Term EURUSD Drops To A 4-Month Low, Enters Oversold Area Gold Price Outlook: The XAU/USD Pair Recovered Above 1.555 And 1.560 Resistance Levels Chinese Inflation At 8-Year High. Equities Fall On Spreading Coronavirus. Euro, Pound Extend Losses 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 01:30 CNY CPI Y/Y Jan 5.40% 4.90% 4.50% 01:30 CNY PPI Y/Y Jan 0.10% 0.10% -0.50% 05:00 JPY Eco Watchers Survey: Current Jan 41.9 40.5 39.8 06:45 CHF Unemployment Rate Jan 2.30% 2.30% 2.30% 07:30 CHF CPI M/M Jan -0.20% -0.20% 0.00% 07:30 CHF CPI Y/Y Jan 0.20% 0.20% 0.20% 09:00 EUR Italy Industrial Output M/M Dec -2.70% 0.10% 0.00% 09:30 EUR Sentix Investor Confidence Feb 5.2 6.1 7.6 13:15 CAD Housing Starts Y/Y Jan 213K 210.0K 197K 196K 13:30 CAD Building Permits M/M Dec 7.40% 3.50% -2.40% -3.50%

Action Forex Company Limited | Room 804, 8/F. , Prosperity Centre, 982 Canton Road, Mongkok, Kowloon 852 Hong Kong SAR China Unsubscribe mondemand.forex@blogger.com Update Profile | About Constant Contact Sent by contact@actionforex.com in collaboration with Try email marketing for free today!