Action Insight Mid-Day Report 5-11-20

Dollar Rebounds Broadly as Investor Sentiment Turn

Action Insight Daily Report 5-11-20 Dollar Rebounds Broadly as Investor Sentiment Turns Dollar rebounds broadly today as investors turn cautious since European session. Fear of a second wave of coronavirus pandemic is cited by some as a reason for mild risk aversion. US-China tension is another factor named. For now, Swiss Franc is following as the second strongest, then Euro. On the other hand, New Zealand and Australian Dollar are the weakest one. In particular, Kiwi is soft ahead of RBNZ's meeting, which could have a QE expansion announcement. Technically, USD/JPY is a focus with today's strong rebound. Break 107.49 resistance will argue that corrective fall from 111.71 has completed and bring stronger rise to 109.38 resistance. It's early to determine, but it might be time for Aussie to reverse recent rally. Focus will be on 0.6372 support in AUD/USD, 67.62 support in AUD/JPY and, 1.7194 resistance in EUR/AUD. In Europe, currently, FTSE is down -0.44%. DAX is down -1.25%. CAC is down -1.79%. German 10-year yield is up 0.014 at -0.518. Earlier in Asia, Nikkei rose 1.05%. Hong Kong HSI rose 1.53%. China Shanghai SSE dropped -0.02%. Singapore Strait Times rose 0.75%. Japan 10-year JGB yield rose 0.0092 to 0.010. Full Report Here ECB Mersch: Lack of business case for digital currencies won't stop... Schnabel: ECB will continue to conduct PSPP and PEPP BoJ: Policy authorities must act decisively to avoid a second Great... New Zealand ANZ business confidence recovery to -45.6, glimmer of light... Fed Kashkari: Worst is yet to come on job front SNB Jordan focusing on FX intervention rather than negative rates for... PBoC lowers SLF rate, to keep liquidity at reasonably ample level Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol RBNZ to Maintain Dovish Tone in May, Preparing for QE Expansion CFTC Commitments of Traders – Traders Trimmed Bets on USD Index... Risk Rally Inconclusive, Dollar Index and Gold Range Bound Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/JPY Mid-Day Outlook Daily Pivots: (S1) 106.36; (P) 106.55; (R1) 106.89; More... Focus remains on 107.49 resistance in USD/JPY. Firm break there will suggest that corrective fall from 111.71 has completed with three waves down to 105.98. Intraday bias will be turned back to the upside for 109.38 resistance. Break there will bring retest of 111.71. On the downside, break of 105.98 will resume the fall from 111.71 instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings US Futures Consolidating, Watch TSLA, UAL, MAR, UAA, AXP, COTY, M USD/JPY Outlook: Short Squeeze Could Extend To Key Barriers AUD/USD Outlook: Bulls Are Consolidating After Failure On Initial Attack At Key Barriers US 500 Index's Advances Under Pressure USDJPY Touches Upper Boundary Of Descending Channel Above 107.00 Gold Preserves Positive Composure The Fed Funded S&P500's 35% Growth With $2.5 Trillion Help Package, What's Next? EURUSD In A Sidelines Mode, SMAs Act As Strong Resistances Abe Is Ready To Act Further Stocks Resume Rally Despite Miserable Data Fundamental Analysis | Technical Analysis In-depth Reports What to Expect from CCP's Two Sessions? China Outlook: From Output To Demand Crisis, CNY Stability Set To Continue Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:50 JPY BoJ Summary of Opinions 1:00 NZD ANZ Business Confidence May -45.6 -66.6 8:00 EUR Italy Industrial Output M/M Mar -28.40% -20.00% -1.20% -1.00%

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