Action Insight Daily Report 5-4-20

Markets in Defense on US-China Tensions, Dollar and Yen Higher

Action Insight Daily Report 5-4-20 Markets in Defense on US-China Tensions, Dollar and Yen Higher Yen and Dollar trade generally higher in Asian session today. Trading is relatively subdued with Japan and China on holiday. Yet, the theme of US-China tension drives some risk-off moves. May didn't start well as investors seemed to be rushing to reverse April's risk-on moves. As for today, New Zealand Dollar is currently the weakest, followed by Australian and then Sterling. Technically, there are two levels to watch to gauge is risk aversion is really coming back. Break of 0.6253 support in AUD/USD will mark completion of corrective rebound from 0.5506. Break of 1.4265 resistance in USD/CAD will also mark completion of the corrective pull back from 1.4667. 106.35 temporary low in USD/JPY will determine whether Dollar or Yen would lead if risk sentiments does turn negative. In Asia, currently, Hong Kong HSI is down -4.03%. Singapore Strait Times is down -2.52%. Japan and China are on holiday. Full Report Here S&P affirms New Zealand's rating with positive outlook Trump stepped up criticism on China and promised very conclusive report,... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Bets on Higher Safe Haven Currencies... CFTC Commitments of Traders – NET LENGTH on Crude Oil Increased... From Coronavirus Lockdown Exit to New US-China Tariff war Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CAD Daily Outlook Daily Pivots: (S1) 1.3976; (P) 1.4043; (R1) 1.4153; More.... Intraday bias in USD?CAD stays neutral first and outlook is unchanged. Price actions from 1.4667 are seen as a corrective pattern. on the upside, break of 1.4265 resistance will indicate completion of the correction. Intraday bias will be turned back to the upside for retesting 1.4667. Intraday bias will be turned back to the upside for retesting 1.4667. In case of another fall, downside should be contained by 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Asia Morning: Trump Heads Back To The Future Gold Intraday: Rebound Thanks To Donald Trump EUR/USD Signaling Positive Bias Above 1.0920 EUR/USD Still Below 1.0990 Asia Morning: US Indexes Dragged By Tech Giants RBA on Hold; a Tale of Two Government Balance Sheets Should the A$ be above 0.65? Fundamental Analysis | Technical Analysis In-depth Reports China Outlook: From Output To Demand Crisis, CNY Stability Set To Continue Crude Reality RBNZ OCR to Go Negative Later this Tear The RBA's Target Cash Rate is Likely to Hold at 0.25% Until End 2023 Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 1:00 AUD TD Securities Inflation M/M Apr -0.10% 0.20% 1:30 AUD ANZ Job Advertisements Apr -53.10% -10.30% 1:30 AUD Building Permits M/M Mar -4.00% -15.00% 19.90% 7:30 CHF SVME PMI Apr 34.1 43.7 7:45 EUR Italy Manufacturing PMI Apr 30 40.3 7:50 EUR France Manufacturing PMI Apr F 31.5 31.5 7:55 EUR Germany Manufacturing PMI Apr F 34.4 34.4 8:00 EUR Eurozone Manufacturing PMI Apr F 33.6 33.6 8:30 EUR Eurozone Sentix Investor Confidence May -30 -42.9 14:00 USD Factory Orders M/M Mar -9.50% 0.00%

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