Action Insight Mid-Day Report 3-31-20

Dollar Showing Signs of Rebound While Other Markets Consolidate

Action Insight Mid-Day Report 3-31-20 Dollar Showing Signs of Rebound While Other Markets Consolidate Markets continue to staying in tight range today as consolidations continue. There is still no end in sight regarding the coronavirus pandemic, with confirmed cases breaking 800k handle, and deaths above 39k. Movements in the major stock indexes are mild based on recent standard. WTI crude oil is back above 22 handle after earlier dip this week. In the currency markets, Dollar is currently the strongest one, followed by Sterling and then Yen. New Zealand Dollar is the weakest followed by Australian. Technically, Dollar is starting to display signs that recent pull back has completed. EUR/USD breaches 1.0953 minor support while USD/CHF breaches 0.9655 resistance. Next focus will be 1.4275 minor resistance in USD/CAD while AUD/USD is still far away from 0.5870 minor support. These levels will continue to be watched, together with 1558 support in gold. In Europe, currently, FTSE is up 0.11%. DAX is down -0.54%. CAC is down -0.80%. German 10-year yield is up 0.0093 at -0.486. Earlier in Asia, Nikkei dropped -0.88%. Hong Kong HSI rose 1.85%. China Shanghai SSE rose 0.11%. Singapore Strait Times rose 2.69%. Japan 10-year JGB yield rose 0.0248 to 0.020. Full Report Here Canada GDP grew 0.1% in Jan, coronavirus to have significant effect... Eurozone CPI slowed to 0.7%, energy dropped -4.3% France consumption dropped -0.1% in Feb, CPI slowed to 0.6% in... UK Q4 GDP finalized at 0%, production dropped -0.7% World Bank: China's growth could be just 0.1% as EAP suffers... Japan: No state of emergency, no Tokyo lockdown, just don't travel New Zealand ANZ business confidence dropped to -63.5, severe recession is... China PMIs back in expansion, Yuan unmoved Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Chinese Government Expected to Accelerate Stimulus Despite Sharp Rebound in PMIs. CFTC Commitments of Traders – US Dollar Remained Firm again Major... As Recovery in Stocks Lose Momentum, Could Dollar Strike Back? Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.0987; (P) 1.1065; (R1) 1.1121; More... EUR/USD's break of 1.0953 minor support suggests that corrective recovery from 1.0635 has completed. Intraday bias is turned back to the downside for retesting this low first. On the upside, however, decisive break of 61.8% retracement of 1.1496 to 1.0635 at 1.1167 will raise the chance of larger trend reversal and turn focus to 1.1496 key resistance. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings EUR/USD Outlook: Close Below Key 1.0891 Support Would Signal Reversal USD Strengthens Yet Uncertainty Remains WTI Futures Flirt With Short-Term Downtrend Line After Bounce Off Multi-Year Low Stocks Buoyed By China PMIs, Yen Down On Fiscal Year-End Positioning Is The Market Rebound Premature? Sentiment Cautious As Volatile Quarter Comes To An End USDCAD Forms A Bullish Flag Pattern, 1.4200 Nearby Resistance Eyed GBPUSD Cautiously Positive Tackling The 50.0% Fibonacci EURGBP Extends Sell-Off From 11-Year Peak Fundamental Analysis | Technical Analysis In-depth Reports The Fed Moves to Do "Whatever it Takes" New Zealand - Unprecedented Times: Revised Economic And Financial Outlook Canadian Dollar Weakened but Not Headed for Historical Lows Forecast Update: A Much Deeper Contraction Macro US: Sharp GDP Contraction But We Still Expect A Rebound In H2 Why the Fed's Currency Swaps May Not Calm the Dollar Funding Stress Eurozone Economy Approaching the Growth Cliff Europe's Economy in Freefall Australia: Federal Budget to Be Hit By COVID–19 Recession – Increase in Bond Supply of $250bn Australian Unemployment Rate Set to Reach 11% by June Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:01 GBP GfK Consumer Confidence Mar -9 -15 -7 23:50 JPY Industrial Production M/M Feb P 0.40% 0.10% 1.00% 23:50 JPY Retail Trade Y/Y Feb 1.70% -1.20% -0.40% 23:30 JPY Unemployment Rate Feb 2.40% 2.40% 2.40% 00:00 NZD ANZ Business Confidence Mar -63.5 -19.4 00:30 AUD Private Sector Credit M/M Feb 0.40% 0.20% 0.30% 0.40% 01:00 CNY NBS Manufacturing PMI Mar 52 45 35.7 01:00 CNY NBS Non-Manufacturing PMI Mar 52.3 37.8 29.6 05:00 JPY Housing Starts Y/Y Feb -12.30% -14.70% -10.10% 06:00 EUR Germany Import Price Index M/M Feb -0.90% -0.30% -0.40% 06:00 GBP GDP Q/Q Q4 0% 0% 0% 06:00 GBP Current Account (GBP) Q4 -5.6B -7.0B -15.9B 06:30 CHF Real Retail Sales Y/Y Feb 0.30% -0.70% -0.10% 0.00% 06:45 EUR France Consumer Spending M/M Feb -0.10% -0.70% -1.10% -1.20% 07:55 EUR Germany Unemployment Change Mar 1K 28K -10K -8K 07:55 EUR Germany Unemployment Rate Mar 5.00% 5.10% 5.00% 09:00 EUR Eurozone CPI Y/Y Mar P 0.70% 0.80% 1.20% 09:00 EUR Eurozone CPI Core Y/Y Mar P 1.00% 1.10% 1.20% 12:30 CAD GDP M/M Jan 0.10% 0.20% 0.30% 12:30 CAD Raw Material Price Index Feb -4.70% -0.80% -2.20% -2.30% 12:30 CAD Industrial Product Price M/M Feb -0.50% 0.10% -0.30% 13:00 USD S&P/CS Composite-20 HPI Y/Y Jan 3.10% 3.20% 2.90% 2.80% 13:45 USD Chicago PMI Mar 40 49 14:00 USD Consumer Confidence Mar 115.1 130.7

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