Action Insight Mid-Day Report 5-25-20

Sterling Mildly Higher in Holiday Markets, Gains Limited

Action Insight Mid-Day Report 5-25-20 Sterling Mildly Higher in Holiday Markets, Gains Limited The markets remain generally steady today, with UK and US markets on holiday. Sterling is mildly higher, followed by commodity currencies. On the other hand, Yen, Dollar and Euro are the relatively weaker ones. But after all, major pairs and crosses are stuck inside Friday's range. Investors would probably need to wait until tomorrow before taking a direction. In Europe, currently, DAX is up 2.40%. CAC is up 1.67%. German 10-year yield is up -0.0152 at -0.495. UK is on holiday. Earlier in Asia, Nikkei rose 1.73%. Hong Kong HSI reversed earlier loss and closed up 0.10%. China Shanghai SSE rose 0.15%. Singapore was on holiday. Japan 10-year JGB yield rose 0.0102 to 0.004. Full Report Here Germany Ifo business climate recovered to 79.5, gradual lockdown easing offers... German Q1 GDP contraction finalized at -2.2% Australia goods exports dropped -12%, imports dropped -5% in Apr EU Centeno: Franco-German recovery fund a critical part of larger and... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Traders Bet Precious Metals to Go... CFTC Commitments of Traders – NET SHORT of GBP Futures Jumped... China's Diplomatic Tensions Overshadow Global Coronavirus Pandemic Exit Optimism Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.2142; (P) 1.2188; (R1) 1.2214; More.... GBP/USD is staying in consolidation above 1.2065 and intraday bias remains neutral. Outlook remains bearish as long as 1.2467 resistance holds. Rebound form 1.1409 should have completed. On the downside, break of 1.2065 will pave the way to retest 1.1409 low. Nevertheless, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings AUDUSD Freezes Putting Pressure on Positive Sentiment US 500 Finds Roof At 11-Week High, Holds Above SMAs EUR/USD Outlook: Better Than Expected German Data Inflate Euro But Thick Daily Cloud Weighs Weaker Yuan Is A Clue From China To The US No Panic But Hong Kong Tensions Keep Markets On Edge EURUSD Loses Battle With 1.0890 And Leaves Sellers In Charge Within Range Rally In Risk Assets To Be Challenged As Sino-US Tensions Return Gold Takes A Breather After Reaching A 91-Month Peak USDJPY Lies Near Ascending Line, Bullish Profile In Short-Term Fundamental Analysis | Technical Analysis In-depth Reports Can the EU Recovery Fund Change the Euro's Fortunes? Australia's Spat With China May Spell Doom for its Economy and the Aussie A Matter Of When, Not If – Updated Forecasts Of The RBNZ's OCR And LSAP Soft Japanese Economy, Subdued Yen UK: Keep Cautious and Carry On With Interest Rates At Zero, What Will Drive FX Now? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 06:00 EUR Germany GDP Q/Q Q1 F -2.20% -2.20% -2.20% 08:00 EUR Germany IFO - Business Climate May 79.5 78.8 74.3 74.2 08:00 EUR Germany IFO - Current Assessment May 78.9 81.9 79.5 79.4 08:00 EUR Germany IFO - Expectations May 80.1 75 69.4

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