Action Insight Mid-Day Report 6-17-20

Euro and Sterling Weaken While Swiss Franc Surge, Dollar Mixed

Action Insight Mid-Day Report 6-17-20 Euro and Sterling Weaken While Swiss Franc Surge, Dollar Mixed Swiss Franc surges broadly today and it's currently the strongest one. There is no clear sign of risk aversion in other markets, with major European indices in black, while DOW futures is slightly higher. Yen is also generally soft too. Franc's strength might be an indication of concerns over geopolitical tensions. Or it could be some form of positioning ahead of tomorrow's SNB rate decision. Meanwhile, Euro and Sterling are the weakest ones for today. Sterling is weighed down mildly by CPI inflation data, as well as expectation of BoE QE expansion tomorrow. Technically, 1.0650 temporary low in EUR/CHF is a focus for the rest of the day. Break will resume the decline from 1.0915 towards 1.0503 low. GBP/CHF could also be eyeing 1.1837 temporary low and break will extend the fall from 1.2259 to 1.1716 key near term support. Another one to watch is EUR/JPY, and break of 120.25 temporary low will resume the fall from 124.43 too. Full Report Here Canada CPI turned deeper negative at -0.4% in May Eurozone CPI finalized at 0.1% yoy in May, core CPI at... UK CPI slowed to 0.5% in May, lowest since 2016 Asian business sentiment plunged to record low in Q2 RBNZ Orr confident with the plenty of tools Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Downside Risks of Crude OIl Price Rising Despite Recent Optimism BOE to Expand QE and Discuss Negative Rates HKD Supported by Low US Yield and Seasonal Factors, Despite Huge... Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1208; (P) 1.1281; (R1) 1.1333; More.... Intraday bias in EUR/USD remains neutral for the moment. On the upside, break of 1.1422 will resume whole rebound from 1.0635 and target 1.1495 key resistance next. On the downside, break of 1.1212 will resume the fall from 1.1422 to 38.2% retracement of 1.0635 to 1.1422 at 1.1121. Sustained break there will argue that whole rebound from 1.0635 has completed and bring deeper fall to 61.8% retracement at 1.0936. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings EURAUD Selling Interest in Play; Indicators in Negative Territory GBPJPY's Latest Pullback Consolidates Around Mid-Bollinger Band US Futures Green again, Watch ORCL, AMZN, GRPN Stocks Rallying Again, More Virus Record Highs, Oil's Glut, Gold Declines, LATAM in Focus US 100 Index Turns Its Gaze Back To Record Highs Risk Remains On As Coronavirus Fears Fade Pavlovian Powell Play USD Firms On Favourable Financial Data EURGBP Retains Neutral Mode, Approaches 0.9000 Geopolitical Tensions And Virus Spike Dampen Sentiment, But Not Much Fragile Market Growth: Investors Are Quickly Switching To Sales USD/JPY Outlook: Double-Doji Signal Indecision As Recovery Lacked Momentum After Emerging Above Daily Cloud NZDUSD Bears Need Trendline Breakout To Take Control Gold In The Process Of Head And Shoulders Pattern, Neutral Bias USDJPY Consolidates Below The Moving Averages Fundamental Analysis | Technical Analysis In-depth Reports Downside Risks of Crude OIl Price Rising Despite Recent Optimism RBA Board Minutes for June Present No Surprises HKD Supported by Low US Yield and Seasonal Factors, Despite Huge Political Uncertainty Ahead Gold Rally: Worth to Hold Your Breath How the Stock Market Took Over the FX Market So How Is That Phase One US-China Trade Agreement Going? Gold will Regain Momentum after Correction, Supported by Low Yield and US-China Tensions Australia's Risks With Its Exports to China Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 22:45 NZD Current Account (NZD) Q1 1.56B 1.59B -2.66B -2.77B 23:50 JPY Trade Balance (JPY) May -0.60T -0.68T -1.00T -1.04T 01:00 AUD Westpac Leading Index M/M May 0.20% -1.50% 06:00 GBP CPI M/M May 0.00% 0.00% -0.20% 06:00 GBP CPI Y/Y May 0.50% 0.50% 0.80% 06:00 GBP Core CPI Y/Y May 1.20% 1.20% 1.40% 06:00 GBP RPI M/M May -0.10% 0.10% 0.00% 06:00 GBP RPI Y/Y May 1.00% 1.30% 1.50% 06:00 GBP PPI Input M/M May 0.30% -4.00% -5.10% -5.50% 06:00 GBP PPI Input Y/Y May -10.00% -8.70% -9.80% -10.20% 06:00 GBP PPI Output M/M May -0.30% -0.10% -0.70% -0.80% 06:00 GBP PPI Output Y/Y May -1.40% -0.90% -0.70% 06:00 GBP PPI Output Core M/M May 0.00% 0.10% -0.10% 0.00% 06:00 GBP PPI Output Core Y/Y May 0.60% 0.70% 0.60% 0.70% 09:00 EUR Eurozone CPI Y/Y May F 0.10% 0.10% 0.10% 09:00 EUR Eurozone CPI Core Y/Y May F 0.90% 0.90% 0.90% 12:30 USD Housing Starts May 0.97M 1.10M 0.89M 0.93M 12:30 USD Building Permits May 1.22M 1.23M 1.07M 12:30 CAD CPI M/M May 0.30% 0.80% -0.70% 12:30 CAD CPI Y/Y May -0.40% 0.00% -0.20% 12:30 CAD CPI Common Y/Y May 1.40% 1.60% 1.60% 12:30 CAD CPI Median Y/Y May 1.90% 1.90% 2.00% 12:30 CAD CPI Trimed Y/Y May 1.70% 1.70% 1.80% 14:30 USD Crude Oil Inventories 0.0M 5.7M 16:00 USD Fed's Chair Powell testifies

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