Action Insight Mid-Day Report 6-1-20

Euro Loses Some Upside Momentum While Risk Appetite Continues

Action Insight Mid-Day Report 6-1-20 Euro Loses Some Upside Momentum While Risk Appetite Continues Risk appetite remains generally firm in European session but trading has turned a bit subdued with France, Germany and Swiss on bank holiday. Dollar is trying to recovery entering into US session, but remains one of the weakest, along with Yen and Swiss France. Australian Dollar is leading commodity currencies higher while Euro is losing some upside momentum. Gold dips mildly today and it's back below 1740. If the greenback is to recovery, some deeper pull back in gold should be seen in according to confirm momentum. Technically, Euro seems to be losing much of last week's upside momentum. In particular, EUR/AUD is heading back to 1.6453 support break will resume the decline from 1.9799. More importantly sustained trading below 1.6597 key support level will carry larger bearish implication and target 1.6085. EURCAD is also back pressing 4 hour 55 EMA. Break will suggest that rebound form 1.5054 has completed. Corrective pattern from 1.5991 would then extend with another fall to retest 1.5054. In Europe, currently, FTSE is up 1.06%. CAC is up 1.16%. Earlier in Asia, Nikkei rose 0.84%. Hong Kong HSI rose 3.36%. China Shanghai SSE rose 2.21%. Singapore Strait Times rose 1.60%. Japan 10-year JGB yield rose 0.0039 to 0.009. Full Report Here UK PMI manufacturing finalized at 40.7, one of the toughest recovery... Eurozone PMI manufacturing finalized at 39.4, at least some stabilization, potentially... 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 RBA to Send More Upbeat Economic Assessment in June CFTC Commitments of Traders – Euro Rallied to Highest in 2... CFTC Commitments of Traders – Traders Took Profit on Gold after... Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1070; (P) 1.1108; (R1) 1.1145; More... Intraday bias in EUR/USD remains mildly on the upside at this point. Price actions from 1.0635 are seen as corrective pattern. Upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, below 1.1008 resistance turned support will turn intraday bias to the downside for 1.0870 support. However, sustained break of 1.1167 will pave the way to 1.1496 key resistance next. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings GBPUSD Outlook: Rally Takes A Breather Under Key Fibo Resistance At 1.2425 US Futures Consolidating, Watch ABT, COTY, KKR, GD AUDUSD Still Bullish, Encounters Upside Tensions EURUSD Outlook: Bulls Started To Lose Traction On Approach To Key Fibo Barrier USDJPY Retreats Near 100-Period SMA, Neutral Picture USD Weakens After Trump's Briefing And Unrest In The US Hong Kong Relief Weighs On Dollar And Yen But Gold Lifted By US Protests Gold's Positive Signals Grow, Rekindling Ascent Risk Assets Defy US Riots EURUSD Stretches Bullish Run Near 2-Month High 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 1:00 CNY Manufacturing PMI May 50.6 51.1 50.8 1:00 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% 0:30 JPY Manufacturing PMI May F 38.4 38.4 38.4 1:00 AUD TD Securities Inflation M/M May -1.20% -0.10% 1:45 CNY Caixin Manufacturing PMI May 50.7 49.6 49.4 7:45 EUR Italy Manufacturing PMI May 45.4 35.5 31.1 7:50 EUR France Manufacturing PMI May F 40.6 40.3 40.3 7:55 EUR Germany Manufacturing PMI May F 36.6 36.8 36.8 8:00 EUR Eurozone Manufacturing PMI May F 39.4 39.5 39.5 8:30 GBP Manufacturing PMI May 40.7 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%

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