Action Insight Mid-Day Report 3-20-20

Markets Staying in Consolidation as Dollar and Yen Turn Mildly Softer

Action Insight Mid-Day Report 3-20-20 Markets Staying in Consolidation as Dollar and Yen Turn Mildly Softer The financial markets are generally staying in consolidative mode today. Global stocks managed to reverse some of this week's loss. in the currency markets, Dollar pares back some of recent gains while commodity currencies recover. Though, these moves are generally seen as profit-taking and position adjust ahead of the weekend. There won't be a turn in the trend until, at least, there is light of plateauing in the coronavirus pandemic. Technically, short term tops should formed at 1.4689 in USD/CAD and 0.9499 in EUR/GBP. Short term bottom should also be formed at 0.5506 in AUD/USD and 123.94 in GBP/JPY. They likely engage in sideway trading through the early part of next week. Other pairs could also start to display similar developments soon. In Europe, currently, FTSE is up 1.65%. DAX is up 3.85%. CAC is up 4.70%. German 10-year yield is down -0.107 at -0.299. Earlier in Asia, Japan was on holiday. Hong Kong HSI rose 5.05%. China Shanghai SSE rose 1.61%. Singapore Strait Times rose 4.32%. Full Report Here Canada retail sales rose 0.4% in Jan, coronavirus impact to come... ECB policymakers push common fiscal responses from governments Italy pushes new EU bonds to fight against coronavirus economic impacts RBNZ announces measures for to support financial system functioning Fed Daly: Our tools are starting to work in the market BoE cut rate to 0.10%, expand asset purchase by GBP 200B Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol RBA Announced Emergency Rate Cut, Initiated QE Crude Oil Inventory Gained for Another Week as Recession Fear Trimmed... Fed and RBNZ Announce Emergency Cuts, BOJ to Follow? Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.1395; (P) 1.1594; (R1) 1.1715; More... Intraday bias in GBP/USD remains neutral for consolidation above 1.1409 temporary low. Some more sideway trading could be seen. But upside should be limited by 1.2129 resistance to bring another decline. Break of 1.1409 will resume whole decline from 1.3514. Though, touching of 1.2129 will indicate short term bottoming and bring lengthier consolidations first. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings DXY: Greenback's Pullback May be Short-Lived Central Banks Fighting Back Canada Retail Sales About to Get a Lot Worse USD Remains The King Of The Jungle FX Indicates That The Worst Is Possibly Behind US Silver Recoups Some Losses After The Plunge To 11-Year Bottom Markets Calmer After Deluge Of Stimulus, Dollar Retreats EURGBP Retraces From 11-Year High And Below 23.6% Fibonacci USDJPY Bulls May Not Give Up Battle Yet, Look For Support Near Trendline Volatility Eases As Central Banks And Governments Deploy More Stimulus WTI Futures Turn Up From Multi-Year Low In The Near Term Fundamental Analysis | Technical Analysis In-depth Reports RBA Announced Emergency Rate Cut, Initiated QE RBA and Commonwealth Treasury Announce Initiatives to Support the Financial System Is the Federal Reserve Out of Ammunition? The Corona Crisis: A Global Recession But Not for Long The Fed Announces a Barrage of Policy Changes The World Has Changed Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 07:00 EUR Germany PPI M/M Feb -0.40% -0.10% 0.80% 07:00 EUR Germany PPI Y/Y Feb -0.10% 0.20% 0.20% 09:00 EUR Eurozone Current Account (EUR) Jan 34.7B 30.3B 32.6B 09:30 GBP Consumer Inflation Expectations 3.00% 3.10% 09:30 GBP Public Sector Net Borrowing (GBP) Feb -0.4B 0.9B -10.5B 12:30 CAD Retail Sales M/M Jan 0.40% 0.00% 12:30 CAD Retail Sales ex Autos M/M Jan -0.10% 0.50% 14:00 USD Existing Home Sales Feb 5.52M 5.46M

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!