Action Insight Weekly Report 4-4-20

Dollar Jumped as Markets Started Q2 With Risk Aversion, But Oil Rebounded

Action Insight Weekly Report 3-28-20 Dollar Jumped as Markets Started Q2 With Risk Aversion, But Oil Rebounded The financial markets didn't start the second quarter with a bang even though coronavirus pandemic carried on. Globally, confirmed cases surged through 1.1m level but that's now more of an indication of the speed of tests. Death toll, on the other hand, remains worrying as it broke 60k handle without sign of slowing down. Markets turned into mild risk averse mode, but downside pressure was somewhat eased by rebound in oil price. Dollar rode on risk aversion and ended the week as the strongest one, followed by Yen. USD/JPY's recovery ahead of 106.75 near term support suggests that Dollar is having an upper hand, for now. New Zealand Dollar ended as the weakest one, followed by Euro and then Aussie. Full Report Here Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Weekly Outlook EUR/USD's fall last week suggests that corrective recovery from 1.0635 has completed at 1.1147, after rejection by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. Initial bias stays on the downside this week for retesting 1.0635 low first. Decisive break there will resume larger down trend. On the upside, above 1.0926 minor resistance will extend the correction from 1.0635. Intraday bias will be turned back to the upside for 1.1167. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Weekly Economic and Financial Commentary: An Unprecedented Time The Weekly Bottom Line: In the Eye of the Storm Forward Guidance: Jobs and Survey Data to Provide an Early Recession Snapshot Week Ahead: Crude Oil Returns to Focus Oil Market Week Ahead: OPEC and Russia Back at the Negotiating Table Is this a Light at the End of the Stock Tunnel or Just a Flashlight? After Foray into QE, RBA to Stand Pat at April Meeting Week Ahead – Another Dose of the Virus Blues? Weekly Focus – Reaching the Bottom Fundamental Analysis | Technical Analysis In-depth Reports Is this a Light at the End of the Stock Tunnel or Just a Flashlight? Oil Rally likely Short-lived as Coordinated Output Cut Could Take Long to Materialize Australia: JobKeeper Payment to Reduce Peak Unemployment Rate from 17% to 9% COVID-19: A Black Swan or a Group of Black Swans? Chinese Government Expected to Accelerate Stimulus Despite Sharp Rebound in PMIs. Canadian Dollar Weakened but Not Headed for Historical Lows

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