Action Insight Weekly Report 4-26-20

Aussie and Yen Ended as Strongest as Conoslidative Markets Remained Indecisive

Action Insight Weekly Report 4-26-20 Aussie and Yen Ended as Strongest as Conoslidative Markets Remained Indecisive The unimaginable negative oil price was the biggest head-liner last week. But the impact on other markets were relatively short lived. Canadian Dollar was much bothered for most of the week, but eventually it's just the second worst performing, following Sterling. On the other hand, Australian Dollar ended as the strongest, followed by Yen, and that's a sign of indecisiveness during consolidation in risk markets. Developments of the coronavirus pandemic will remain a major factor for investor decisions for the near term. Daily deaths appeared to be flattening globally, which is a good sign. US cases surged mainly due to intensified testing while daily deaths steadied. Italy, Spain and France continued to show improvements. But major risks are now observed in Mexico, Brazil, Russia, and to a lesser extent Turkey. Full Report Here Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/JPY Weekly Outlook EUR/JPY dropped to as low as 115.54 last week and the break of 116.12 support confirms resumption of fall from 122.87. More importantly, break of 115.86 low suggests larger down trend resumption. Nevertheless, as a temporary low was formed with subsequently, initial bias is neutral this week for consolidations first. Upside should be limited by 117.21 resistance to bring fall resumption. Break of 115.54 will target 100% projection of 121.14 to 116.33 from 119.00 at 114.19 next. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Weekly Economic and Financial Commentary: Throw Out the Textbook Forward Guidance: Surveying the Damage The RBA's Target Cash Rate is Likely to Hold at 0.25% Until End 2023 Cliff Notes: RBA Outlines Expectations for COVID-19's Effect The Weekly Bottom Line: COVID-19 Sends Oil Prices To Uncharted Territories Week Ahead: Busy Month-End! Week Ahead – Georgia Reopening Fallout, Three Big Rate Decisions, and Big Tech Earnings ECB Preview: The Only Game in Town Oil Drowns in a Flood of Supply, No Lifejacket for Now Bank of Japan's Policy Meeting Eyed after Unlimited Bond Buying Rumors Week Ahead – Fed, ECB and BoJ Meet ahead of GDP Data; Can Central Banks Do Any More? Weekly Focus – Economic Rift Deepens as Markets Look for Next Catalyst 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

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