Action Insight Daily Report 6-1-20

Aussie Surges as Markets in Full Risk-On, All Risks Shrugged

Action Insight Daily Report 6-1-20 Aussie Surges as Markets in Full Risk-On, All Risks Shrugged Risk-on mode continues in Asian markets today. Investors, in particular in Hong Kong markets, basically shrugged off US President Donald Trump's announcements regarding China. There is also no reaction to the unrest in US. Instead, traders continued to cheer economy reopening, as well as positive data from China. Australian Dollar is currently the strongest for the day, followed by New Zealand. Dollar is leading the way down, followed by swiss Franc and Yen. Technically, 1.1167 fibonacci resistance in EUR/USD is the key level to watch this week. Sustained break there could push EUR/USD further towards 1.1496 resistance. That would be an early sign of larger reversal in Dollar and could prompt steeper selloff in the greenback elsewhere. As for Aussie, AUD/JPY is now in proximity to key resistance zone between 55 week EMA (now at 72.79) and medium term trend line (now at 74.01). Reaction from there would define the next medium term move. In Asia, currently, Nikkei is up 0.86%. Hong Kong HSI is up 3.22%. China Shanghai SSE is up 1.97%. Singapore Strait Times is up 2.09%. Japan 10-year JGB yield is up 0.0021 at 0.008. Full Report Here Australia AiG PMI rose to 41.6, but exports dropped to record... Japan PMI Manufacturing finalized at 38.4, conditions to remain fragile until... China Caixin PMI manufacturing rose to 50.7, sluggish exports remained a... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Traders Took Profit on Gold after... CFTC Commitments of Traders – Euro Rallied to Highest in 2... Old and New Risks Ignored So Far, Dollar to Decide Reversal... Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Report Daily Pivots: (S1) 0.6626; (P) 0.6654; (R1) 0.6697; More... AUD/USD's rally from 0.5506 continues today and hits as high as 0.6742 so far. Intraday bias bias remains on the upside but we'd continue to look for topping signal. Bearish divergence condition in 4 hour MACD is a sign of loss of upside momentum. AUD/USD will also face 55 week EMA (now at 0.6702) and then 0.6826 (2016 low). On the downside, break of 0.6567 minor support will indicate short term topping and turn bias back to the downside. However, any upside re-acceleration could take the pair further to 0.7031 resistance next. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings EUR/USD Rallies Above 1.1100, More Gains Possible Trump Tenderness, China's Caixin, Boost Asia Asia Morning: US Stocks Firm After Trump's Announcement On China Effects of U.S. Supply Chain Re-Orientation: Part I Weekly Economic and Financial Commentary: The U.S. Economy Appears to Have Bottomed in The Weekly Bottom Line: Spending Plunges but Fiscal Supports Boost Income Forward Guidance: Capturing a Turning Point Week Ahead: Show Me the Money! Oil Market Week Ahead: Another Round of OPEC Wrangling Week Ahead – Sino-US Tensions Come to the Fore RBA Meets as Australia Reopens for Business, Aussie Rallies Week Ahead – ECB, RBA, and BoC meetings ahead of nonfarm payrolls Weekly Focus – Global Recovery as "Old Risks" Re-emerge Fundamental Analysis | Technical Analysis In-depth Reports Effects of U.S. Supply Chain Re-Orientation: Part I ECB Research: PEPP'in It Up Gold will Regain Momentum after Correction, Supported by Low Yield and US-China Tensions Have Stocks 'Gotten Over' the Virus? Australia's Risks With Its Exports to China A Matter Of When, Not If – Updated Forecasts Of The RBNZ's OCR And LSAP Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 01:00 CNY Manufacturing PMI May 50.6 51.1 50.8 01:00 CNY Non-Manufacturing PMI May 53.6 53.5 53.2 22:30 AUD AiG Performance of Mfg Index May 41.6 35.8 23:50 JPY Capital Spending Q1 4.30% -4.20% -3.50% 00:30 JPY Manufacturing PMI May F 38.4 38.4 38.4 01:00 AUD TD Securities Inflation M/M May -1.20% -0.10% 01:45 CNY Caixin Manufacturing PMI May 50.7 49.6 49.4 07:45 EUR Italy Manufacturing PMI May 35.5 31.1 07:50 EUR France Manufacturing PMI May F 40.3 40.3 07:55 EUR Germany Manufacturing PMI May F 36.8 36.8 08:00 EUR Eurozone Manufacturing PMI May F 39.5 39.5 08:30 GBP Manufacturing PMI May 40.7 40.6 13:30 CAD Manufacturing PMI May 33 13:45 USD Manufacturing PMI May F 39.8 39.8 14:00 USD ISM Manufacturing PMI May 42.5 41.5 14:00 USD ISM Manufacturing Prices Paid May 33.3 35.3 14:00 USD ISM Manufacturing Employment Index May 34.1 27.5 14:00 USD Construction Spending M/M Apr -5.30% 0.90%

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!