Action Insight Daily Report 4-20-20

Nikkei and Yen Lower as Japan's Export Hit Hard by Coronavirus

Action Insight Daily Report 4-20-20 Nikkei and Yen Lower as Japan's Export Hit Hard by Coronavirus Markets are rather quiet in Asia today. Nikkei is pressured after poor trade data from Japan. But movements in other major Asian centers are muted. New Zealand Dollar appears to be lifted by the country's plan to exit top level lockdown. Dollar is currently the second strongest. On the other hand, Canadian dollar is the weakest one as oil price extends decline. Yen is the second weakest so far. Technically, though, there is no new development. A focus today would be 1.4182 in USD/CAD. Break will revive the case that correction 1.4667 has completed and pave the way to retest this high at a later stage. As for AUD/USD, break of 0.6213 resistance turned support will suggest that rebound from 0.5506 has completed and target 0.5979 support for confirmation. 1.0768 in EUR/USD is a level to watch too, as break will bring 1.0635 low into focus. In Asia, currently, Nikkei is down -1.06%. Hong Kong HSI is up 0.05%. China Shanghai SSE is up 0.23%. Singapore Strait Times is flat. Japan 10-year JGB yield is up 0.0029 at 0.019. Full Report Here Japan exports slumped in March as coronavirus hit RBA Lowe: We shouldn't be worried about government borrowing New Zealand CPI accelerated, but RBNZ core CPI slowed Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Traders Bet Higher Euro on First... CFTC Commitments of Traders – Signs of Bargain-Hunting Emerged as Crude... Yen Ended Higher, Dollar Mixed, Despite Risk Rally Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/JPY Daily Outlook Daily Pivots: (S1) 107.21; (P) 107.64; (R1) 107.99; More... USD/JPY recovers mildly today but upside is capped by 4 hour 55 EMA so far. Intraday bias remains neutral for the moment. On the downside, break of 106.91 will extend the decline from 111.71 to 100% projection of 111.71 to 106.91 from 109.38 at 104.58. On the upside, break of 109.38 will suggest that fall from 111.71 has completed. Intraday bias will be turned back to the upside for 111.71/112.22 resistance zone. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings New Zealand CPI – A Brief Peak EUR/USD Facing Uphill Task Near 1.0950 Asia: The Last (Con)Tango In Texas International Growth Outlook Continues to Darken Weekly Economic and Financial Commentary: The Terrible Data (and the Stimulus) Start to Arrive Forward Guidance: Dark Data before the Dawn The Weekly Bottom Line: Closures Hit March Economic Data Hard Week Ahead: Green Shoots Weekly Focus – The Fragile Crawl Back Begins Fundamental Analysis | Technical Analysis In-depth Reports International Growth Outlook Continues to Darken China's GDP Contracted the Most in Decades as Driven its Self-Produced Coronavirus Making Sense of Recent Turbulence in Oil Markets OPEC+ Deal on Output Cut Unlikely Helps Reduce Surplus. Downside Risk on Oil Price Remains Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 22:45 NZD CPI Q/Q Q1 0.80% 0.30% 0.50% 23:01 GBP Rightmove House Price Index M/M Apr -0.20% 1.00% 23:50 JPY Trade Balance (JPY) Mar -0.19T -0.11T 0.50T 0.48T 6:00 EUR Germany PPI M/M Mar -0.10% -0.40% 6:00 EUR Germany PPI Y/Y Mar 0.20% -0.10% 8:00 EUR Eurozone Current Account (EUR) Feb 36.3B 34.7B 9:00 EUR Eurozone Trade Balance (EUR) Feb 19.2B 17.3B 12:30 CAD Wholesale Sales M/M Feb -0.20% 1.80%

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!