Action Insight Mid-Day Report 3-26-20

Dollar Stays Soft after Shocking Jobless Claims, BoE Stands Pat

Action Insight Mid-Day Report 3-26-20 Dollar Stays Soft after Shocking Jobless Claims, BoE Stands Pat Dollar softens mildly again today as consolidation extends. The shock delivered by initial jobless claims is actually rather well expected. The greenback dips slightly after Fed chair Jerome Powell's comments, but that's it. BoE keep monetary policies unchanged at the scheduled meeting today, which also triggered little reactions. Yen is currently the strongest one, followed by Australian, which suggests that there is no clear direction in risk markets. Technically, with today's recovery, EUR/USD is now pressing 1.0981 minor resistance. As long as it holds, we'd expect EUR/USD's down trend to resume sooner rather than later. However, sustained break will threaten near term bearishness and put focus back to 1.1496 key resistance. We might see the selloff in Dollar spill over to other pairs too. In particular, USD/JPY looks finally make up its mind to move away from 112.22 key resistance. The pair might head for a test on 106.75 support. In Europe, currently, FTSE is down -2.00%. DAX is down -2.06%. CAC is down -2.01%. German 10-year yield is down -0.066 at -0.328. Earlier in Asia, Nikkei dropped -4.51%. Hong Kong HSI dropped -0.74%. China Shanghai SSE dropped -0.60%. Singapore Strait Ties dropped -0.71%. Japan 10-year JGB yield dropped -0.0279 to 0.008. Full Report Here US initial jobless claims surged to record 3283k BoE: Coronavirus economic shock should ultimately prove temporary Fed Powell: We're not going to run out of ammunition, that... IW: Negative scenario of coronavirus epidemic could fundamentally question the foundations... German Ifo export expectations dropped to -19.8, lowest since 2009 UK retail sales dropped -0.3% mom, ex-fuel sales dropped -0.5% mom Germany Gfk consumer climate dropped to 2.7, lowest since 2009 BoE to decide whether to expand QE again today US Senate passed coronavirus relief package, House to have voice vote... Fed Bullard: There could be a boom quarter after the coronavirus... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Flash PMI Gives More Evidence that Japan has Entered Recession, Unlikely... RBNZ Announced QE to Tame Tightening Market Conditions CFTC Commitments of Traders – Traders Trimmed Bets on Commodities amidst... Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.0799; (P) 1.0847; (R1) 1.0932; More... EUR/USD's rebound from 1.0635 extends higher today and focus in now immediately on 1.0981 resistance. Sustained break there will dampen immediate bearishness. Stronger rebound would then be seen back towards 1.1496 key resistance. Nevertheless, rejection by 1.0981 will retain near term bearishness. Break of 1.0785 will bring retest of 1.0635 low first. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings USD Weakens As Labour Data Are To Be Released Encouraging Week But Bottom May Still Lie Ahead NZDUSD Struggles Within Ichimoku Cloud, Bullish In Short Term GBP/USD Outlook: Bulls Face Headwinds From Psychological 1.20 Level But Key Fibo Barrier At 1.2093 Is Still In Focus USDJPY Stalls At 111.70 Resistance, Trendline Back Into Focus GBPJPY Corrects From Low, Shows Signs Of Frailty AUDUSD Rebounds On 17½-Year Low, Negative Momentum Fades After A Great Rebound, Now What? Fundamental Analysis | Technical Analysis In-depth Reports Canada's Economy Enters Uncharted Waters Macro US: Sharp GDP Contraction But We Still Expect A Rebound In H2 Eurozone Economy Approaching the Growth Cliff Australia: Federal Budget to Be Hit By COVID–19 Recession – Increase in Bond Supply of $250bn Why the Fed's Currency Swaps May Not Calm the Dollar Funding Stress Europe's Economy in Freefall Flash PMI Gives More Evidence that Japan has Entered Recession, Unlikely to be Rescued by Stimulus Australian Unemployment Rate Set to Reach 11% by June Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:50 JPY Corporate Service Price Index Y/Y Feb 2.10% 2.20% 2.30% 07:00 EUR Germany Gfk Consumer Confidence Apr 2.7 8.2 9.8 8.3 07:00 GBP Retail Sales M/M Feb -0.30% 0.00% 0.90% 1.10% 07:00 GBP Retail Sales Y/Y Feb 0.00% 0.60% 0.80% 0.90% 07:00 GBP Retail Sales ex-Fuel Y/Y Feb 0.50% 1.00% 1.20% 1.30% 07:00 GBP Retail Sales ex-Fuel M/M Feb -0.50% -0.20% 1.60% 1.80% 09:00 EUR Eurozone M3 Money Supply Y/Y Feb 5.50% 5.00% 5.20% 09:00 EUR ECB Economic Bulletin 12:00 GBP BoE Interest Rate Decision 0.10% 0.10% 0.10% 12:00 GBP BoE Asset Purchase Facility (GBP) 645B 645B 645B 12:00 GBP MPC Official Bank Rate Votes 0--0--9 0--0--9 0--0--9 12:00 GBP MPC Asset Purchase Facility Votes 0--0--9 0--0--9 0--0--9 12:30 USD Initial Jobless Claims (Mar 20) 3283K 281K 282K 12:30 USD GDP Annualized Q4 F 2.10% 2.10% 2.10% 12:30 USD GDP Price Index Q4 F 1.30% 1.30% 1.30% 12:30 USD Wholesale Inventories Feb P -0.50% 0.00% -0.40% 12:30 USD Goods Trade Balance (USD) Feb -59.9B -64.5B -65.9B 14:30 USD Natural Gas Storage -30B -9B

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!