Action Insight Mid-Day Report 2-14-20

Dollar Mixed after Shrugging Off Retail Sales, Euro Trying to Recover

Action Insight Mid-Day Report 2-14-20 Dollar Mixed after Shrugging Off Retail Sales, Euro Trying to Recover Economic data released today are generally ignored by the markets. Dollar is mixed, paying little attention to US retail sales. Euro recovers mildly today on short profit taking ahead of weekend. But it remains the weakest one for the week. Swiss Franc and Yen are trading as the next weakest so far. Sterling continues to trade as the strongest one despite mild retreat today. Aussie and Kiwi are so far the next strongest for the week. Technically, 1.0888 minor resistance in EUR/USD is a focus. Break will indicate temporary bottoming and further recovery could be seen initially this week. USD/CAD seems to be extending the corrective fall from 1.3329 and would target 55 day EMA at 1.3182. In Europe, FTSE is flat for the moment. DAX is trading up 0.19%. CAC is down -0.11%. German 10-year yield is down -0.0204 at -0.403. Earlier in Asia, Nikkei dropped -0.59%. Hong Kong HSI rose 0.31%. China Shanghai SSE rose 0.38%. Singapore Strait Times closed flat. 10-year JGB yield dropped -0.0007 to -0.032. Full Report Here US retail sales rose 0.3%, ex-auto sales rose 0.3% Eurozone GDP grew 0.1% qoq in Q4, employment rose 0.3% qoq German GDP stalled in Q4, mixed signals in domestic demand New Zealand BusinessNZ PMI rose to 49.6, relatively decent in context... China's coronavirus cases rose 5090 to 63851 BoJ Maeda: Economy suffered big contraction in Q4 Fed Williams: 2020 growth about the same as last year Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Major Oil Agencies Downgrade Global Oil Demand Outlook amidst Coronavirus Outbreak US Crude Oil Inventory Gained Much More than Expected RBNZ's Next Move could be Rate Hike Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9772; (P) 0.9784; (R1) 0.9806; More... USD/CHF's rebound from 0.9613 is still in progress and intraday bias remains on the upside. Next target is 38.2% retracement of 1.0237 to 0.9613 at 0.9851. Reactions from there would unveil whether it's just a corrective move, or reversing near term trend. On the downside, however, break of 0.9741 minor support will bring retest of 0.9613 low instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings AUDCHF Remains Bearish Despite Reversal Off All-Time-Low How Low Can the Euro Go? AUD/USD Outlook: Break Below 10DMA Would Signal End Of Recovery Phase And Reversal FTSE Lower On RBS, NMC And AstraZeneca GBPAUD Flirts With 1.9400 Number, Positive Prospects Pound Strengthens On Cabinet Reshuffling Japanese Q4 GDP May Raise Fresh Concerns About Outlook Mixed Appetite. Oil Up Despite IEA's Expectation Of Lower Demand. Pound Jumps Past $1.30 After BoJo's Cabinet Reshuffle GBPJPY's Attempt To Improve Pauses Ahead Of 76.4% Fibonacci USDCAD Could Lose More Below 1.3235 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 21:30 NZD Business NZ Manufacturing Index Jan 49.6 49.3 04:30 JPY Tertiary Industry Index M/M Dec -0.20% -1.60% 1.30% 1.40% 07:00 EUR Germany GDP Q/Q Q4 P 0.00% 0.10% 0.10% 07:30 CHF Producer and Import Prices M/M Jan 0.00% 0.00% 0.10% 07:30 CHF Producer and Import Prices Y/Y Jan -1.00% -1.50% -1.70% 09:00 EUR Italy Trade Balance (EUR) Dec 5.01B 5.23B 4.87B 4.89B 10:00 EUR Eurozone Trade Balance (EUR) Dec 22.2B 19.1B 19.2B 10:00 EUR Eurozone GDP Q/Q Q4 P 0.10% 0.10% 0.10% 10:00 EUR Eurozone Employment Change Q/Q Q4 P 0.30% 0.10% 0.10% 13:30 USD Retail Sales M/M Jan 0.30% 0.30% 0.30% 0.20% 13:30 USD Retail Sales ex Autos M/M Jan 0.30% 0.40% 0.70% 0.60% 13:30 USD Import Price Index M/M Jan 0.00% -0.20% 0.30% 14:15 USD Industrial Production M/M Jan -0.10% -0.30% 14:15 USD Capacity Utilization Jan 76.90% 77.00% 15:00 USD Michigan Consumer Sentiment Index Feb P 99.7 99.8 15:00 USD Business Inventories Dec 0.10% -0.20%

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