Action Insight Daily Report 4-27-20

Dollar Dips after Durable Goods Orders Contractions, Euro Pare Losses

Action Insight Daily Report 4-27-20 Yen Mixed after BoJ's Additional Easing, Aussie and Kiwi Strong Yen is trading mixed after BoJ announced additional easing measures, following shortened monetary policy meeting. Australian and New Zealand Dollars are the strongest ones. Both countries have been performing extraordinarily well in containing the coronavirus spread and are planning for lockdown exits. On the other hand, Dollar and Swiss Franc are currently the weakest ones for today. In particular, the timing of starting phased lockdown exit in May in the US is questionable. Technically, more downside remains in favor in USD/JPY with the pair being held by 4 hour 55 EMA. Yet, break of 106.91 support is needed to confirm resumption of fall from 111.71. AUD/USD is now eyeing 0.6444 temporary top. Break will resume whole rebound from 0.5506. 0.6670 key support turned resistance will then be in focus, which could define the medium term trend. In Asia, currently, Nikkei is up 2.41%. Hong Kong HSI is up 1.64%. China Shanghai SSE is up 0.70%. Singapore Strait Times is up 1.41%. Japan 10-year JGB yield is down -0.0081 at -0.030. Full Report Here BoJ: GDP to contract -5% to -3% in fiscal 2020, return... BoJ to purchase JGBs without setting an upper-limit US Hassett: Unemployment could jump to 16% in next jobs report US Mnuchin expects Q3 rebound, NY Cuomo outlined phase-in reopening Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Bets on Lower British Pound Rose... CFTC Commitments of Traders – Traders Bet Crude Oil Price to... Aussie and Yen Ended as Strongest as Conoslidative Markets Remained Indecisive Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/JPY Daily Outlook Daily Pivots: (S1) 107.32; (P) 107.54; (R1) 107.71; More... Intraday bias in USD/JPY remains neutral for the moment and further decline remains in favor. 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 EUR/USD Bullish Above 1.0800 Peak Virus Perks Up Asian Markets EUR/USD Could Recover If It Breaks 1.0880 Asian Morning Brief: US Stocks Up Over 1% Forex, Cryptocurrencies, Stocks Forecast Fundamental Analysis | Technical Analysis In-depth Reports Oil Drowns in a Flood of Supply, No Lifejacket for Now The RBA's Target Cash Rate is Likely to Hold at 0.25% Until End 2023 Canadian Dollar Weakness Expected to Catch Up with Recent Oil Price Collapse Reserve Bank Governor's Speech Reveals Forecasts Very Close to Westpac's Views Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 3:00 JPY BoJ Interest Rate Decision -0.10% -0.10% -0.10% 14:30 USD Dallas Fed Manufacturing Business Index Apr -70

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