Action Insight Daily Report 4-28-20

Asian Markets Turned Mixed With Falling Oil and Gold, Kiwi Weakest

Action Insight Daily Report 4-28-20 Asian Markets Turned Mixed With Falling Oil and Gold, Kiwi Weakest Despite extended stock rally in the US overnight, Asian markets turned mixed. Renewed weakness in oil price is a factor weighing on sentiments, as WTI crude oil is down at 11 handle, threatening 10 handle again. Gold also dips below 1700 handle, as Dollar is trying to recover. For the week so far, Aussie remains the strongest one, followed by Sterling. New Zealand Dollar is the worst performing on RBNZ rate cut expectations, followed by Swiss Franc. Technically, Gold's break of 4 hour 55 EMA should confirm rejection by 1747.75 resistance Consolidation from there is extending with another falling leg towards 1644.67 resistance turned support. USD/JPY is holding above 106.91 support so far, but this level remains vulnerable. Break will resume whole decline from 111.71. Such development, if happens, might drag EUR/JPY through 115.54 temporary low in EUR/JPY and 131.90 temporary low in GBP/JPY. In Asia, Nikkei is down -0.25%. Hong Kong HSI is up 0.36%. China Shanghai SSE is down -0.15%. Singapore Strait Times is down -0.24%. Japan 10-year JGB yield is down -0.0029 at -0.040. Overnight, DOW rose 1.51%. S&P 500 rose 1.47%. NASDAQ rose 1.11%. 10-year yield rose 0.060 to 0.656. Full Report Here AUD/NZD surges as RBNZ forecasts to cut to -0.50% this year NSW lockdown relaxation pushes Aussie higher, but key resistance in sight US stocks rose on talks of automakers reopenning Gold faces resistance from 1747, consolidation might extends Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol BOJ's QE Expansion Likely Ineffective Despite Pledge of Unlimited Purchases FOMC to Highlight Weakness in Economy and Reinforce Dovish Stance in... Aussie and Yen Ended as Strongest as Conoslidative Markets Remained Indecisive Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Daily Outlook Daily Pivots: (S1) 1.0806; (P) 1.0833; (R1) 1.0855; More... EUR/USD is staying in range of 1.0727/0885 and intraday bias remains neutral first. On the upside, break of 1.0885 will likely extend the corrective pattern from 1.0635 with another rise through 1.0990. But upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0727 will target a test on 1.0635 low. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Gold Intraday: Safe-Haven Demand Fades On Easing Coronavirus Cases Crude Reality Monitoring The International Impact Of COVID-19 GBP/USD Approaching Key Hurdles, Can Buyers Make It? USD/JPY: Key 107 Level In Focus Asian Morning: US Stocks Up 1% On Hopeful Economy Reopening FX Market Wrap At The Wall Street Close RBNZ OCR to Go Negative Later this Tear Fundamental Analysis | Technical Analysis In-depth Reports Crude Reality Monitoring The International Impact Of COVID-19 RBNZ OCR to Go Negative Later this Tear 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 Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:30 JPY Unemployment Rate Mar 2.50% 2.50% 2.40% 10:00 GBP CBI Realized Sales Apr -45 -3 12:30 USD Wholesale Inventories Mar P -0.10% -0.70% 12:30 USD Goods Trade Balance (USD) Mar -55.0B -59.9B 13:00 USD S&P/CS Composite-20 HPI Y/Y Feb 3.20% 3.10% 14:00 USD Consumer Confidence 90.1 120 14:00 USD Richmond Fed Manufacturing Index Apr -34 2

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