Action Insight Daily Report 5-20-20

Dollar and Yen Soft, Awaiting Next Move in Risk Markets

Action Insight Daily Report 5-20-20 Dollar and Yen Soft, Awaiting Next Move in Risk Markets Yen, Dollar and Swiss Franc remain generally weak today eventual risk rally starts to take a breather in European session. On the other hand, currency market have some what shifted from commodity currencies to Euro and Sterling. Euro is lifted by optimism on the Franco-German recovery fund plan. Sterling is boosted by UK's new, post-Brexit, tariff regime. Technically, weakness in Yen is the clearest in the markets for today. USD/JPY's break of 107.76 resistance suggests resumption of rebound from 105.98, for 109.38 resistance. EUR/JPY's break of 117.77 resistance should take the rebound from 114.42 to 121.14. 133.18 resistance in GBP/JPY will be a focus today and break will align the near term bullish outlook with USD/JPY and EUR/JPY. In Europe, currently, FTSE is down -0.47%. DAX is down -0.17%. CAC is down -0.62%. German 10-year yield is up 0.0323 at -0.439. Earlier in Asia, Nikkei rose 1.49%. Hong Kong HSI rose 1.89%. China Shanghai SSE rose 0.81%. Singapore Strait Times rose 1.66%. Japan 10-year JGB yield rose 0.0111 to 0.001. Full Report Here Australia retail sales dropped record -17.9 in April, falls in every... RBNZ Orr prepared to go to negative rate but a lot... BCC: Only 37% UK firms can fully restart with workplace safety... US CBO: Labor market to materially improve after Q3 Fed Rosengren: Unemployment will remain at double-digit by year end ECB Lane: Q2 is trough of coronavirus crisis in all scenarios Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Crude Oil Price Supported by Improved Fundamentals; Upside Limited CFTC Commitments of Traders report – Traders Trimmed Bets on USD... Negative Interest Rate Expectations Drove Markets, Risk Reversal TBC Soon Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Report Daily Pivots: (S1) 0.6503; (P) 0.6544; (R1) 0.6578; More... AUD/USD's breach of 0.6569 suggests resumption of whole rebound from 0.5506. Intraday bias is back on the upside for 0.6670 key resistance. Considering bearish divergence in 4 hour MACD, we'd expect upside to be limited there, at least on first attempt, to bring pull back. On the downside, break of 0.6402 support will indicate short term topping and turn bias to the downside for 0.6253 support. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Soft Japanese Economy, Subdued Yen China Leaves Rates Unchanged. Japan Machinery Orders Rebound GBP/JPY Showing Positive Signs Above 132.00 Asia Morning: US Stocks Halt 3-Session Rally A Couple Of Price Gaps In The USD Dollar Index Remains in Red and Could Drop to 200DMA on Close Below Daily Cloud UK PMIs Unlikely to Rescue Pound from Mounting Risks Fundamental Analysis | Technical Analysis In-depth Reports Soft Japanese Economy, Subdued Yen Crude Oil Price Supported by Improved Fundamentals; Upside Limited UK: Keep Cautious and Carry On With Interest Rates At Zero, What Will Drive FX Now? Could the U.S. Economy Be Facing Deflation? What to Expect from CCP's Two Sessions? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:50 JPY Machinery Orders M/M Mar -0.40% -7.10% 2.30% 00:30 AUD Westpac Leading Index M/M Apr -1.50% -0.80% -0.70% 06:00 GBP CPI M/M Apr -0.10% 0.00% 06:00 GBP CPI Y/Y Apr 0.90% 1.50% 06:00 GBP Core CPI Y/Y Apr 1.40% 1.60% 06:00 GBP RPI M/M Apr 0.10% 0.20% 06:00 GBP RPI Y/Y Apr 1.60% 2.60% 06:00 GBP PPI Input M/M Apr -3.70% -3.60% 06:00 GBP PPI Input Y/Y Apr -8.40% -2.90% 06:00 GBP PPI Output M/M Apr -0.40% -0.20% 06:00 GBP PPI Output Y/Y Apr -0.40% 0.30% 06:00 GBP PPI Output Core M/M Apr -0.10% 0.30% 06:00 GBP PPI Output Core Y/Y Apr 0.60% 0.90% 08:00 EUR Eurozone Current Account (EUR) Mar 40.2B 09:00 EUR Eurozone CPI M/M Apr F 0.30% 0.50% 09:00 EUR Eurozone CPI Core Y/Y Apr F 0.90% 0.90% 09:00 EUR Eurozone CPI Y/Y Apr F 0.40% 0.40% 12:30 CAD Wholesale Sales M/M Mar -4.50% 0.70% 12:30 CAD CPI M/M Apr -0.40% -0.60% 12:30 CAD CPI Y/Y Apr -0.10% 0.90% 12:30 CAD CPI Common Y/Y Apr 1.70% 1.70% 12:30 CAD CPI Median Y/Y Apr 1.90% 2.00% 12:30 CAD CPI Trimmed Y/Y Apr 1.80% 1.80% 14:00 EUR Eurozone Consumer Confidence May P -23 -23 14:30 USD Crude Oil Inventories 1.7M -0.7M 18:00 USD FOMC Minutes

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!