Action Insight Mid-Day Report 6-26-20

Sterling Dips, Swiss Franc Rises as Weekly Close Approaches

Action Insight Mid-Day Report 6-26-20 Sterling Dips, Swiss Franc Rises as Weekly Close Approaches Sterling appears to be under some selling pressure today, without any special driver. A possible reason is some repositioning ahead of next week's Brexit talks. Meanwhile, Yen appears to be regaining some growth, together with Swiss Franc. There is some upside potential on risk-off traders ahead of the weekly close, as US futures point to mildly lower open. Technically, GBP/CHF is now eying 1.1716 key near term support again after today's decline. Sustained break there would confirm completion of the whole rebound from 1.1102. USD/CAD is another one to watch and break of 1.3686 resistance will resume the rebound from 1.3315 short term bottom. In Europe, currently, FTSE is up 1.51%. DAX is up 0.78%. CAC is up 1.42%. German 10-year yield is down -0.0041 at -0.470. Earlier in Asia, Nikkei rose 1.13%. Hong Kong HSI dropped -0.93%. China Shanghai SSE rose 0.30%. Singapore Strait Times rose 0.55%. Japan 10-year JGB yield dropped -0.0053 to 0.011. Full Report Here US personal income dropped -4.2%, spending rose 8.2% ECB Lagarde: Probably past the lowest point but recovery will be... BoJ Kuroda: No need to further lower the entire yield curve... Fed George: Takes a while before dust settles before seeing need... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Another Week Of US Stock-build Dampened Crude Oil Price RBNZ Pledged to Expand QE and other Stimulus if Needed, as... Gold's Rally Set to Resume, Supported by Low Yield, Geopolitics and... Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.2383; (P) 1.2424; (R1) 1.2458; More.... Intraday bias in GBP/USD remains neutral at this point but fall from 1.2813 is in favor to continue. Break of 1.2334 will target 1.2065 support first. Firm break there will confirm completion of rebound from 1.1409 at 1.2813. However, on the upside, break of 1.2542 will argue that the fall from 1.2813 might be completed. Intraday bias will be turned back to the upside for 1.2587/2813 resistance zone. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Regional Lockdowns Expectations, Stress Tests, Oil Rebounds, Gold Consolidates US 30 Index Pauses Its Upside Rally Below 200-Day SMA EU Indices Up This Morning | TA Focus On Hennes & Mauritz USD Keeps Recent Gains As Worries Persist Bad News Fuels US Dollar Recovery Cliff Notes: COVID-19's Continued Spread GBPJPY Retreats Under SMAs, Neutral Mode Returns GBPUSD May Show Some Volatility, Bears In Favor USDCAD Stuck Below 23.6% Fibo, Medium-Term Outlook Still Negative Palladium Futures Test Floor Of Sideways Market Stocks Jump Into The Green, But Dollar Doesn't Play Along EURUSD Outlook: Bears Are Taking A Breather Above Key Supports And Expected To Remain In Play While Holding Below 20DMA The Fed Says The Banks Are Healthy Fundamental Analysis | Technical Analysis In-depth Reports Economics And Macro Strategy: Risks From A Resurgence In COVID-19 Gold's Rally Set to Resume, Supported by Low Yield, Geopolitics and Second Virus Wave Downside Risks of Crude OIl Price Rising Despite Recent Optimism HKD Supported by Low US Yield and Seasonal Factors, Despite Huge Political Uncertainty Ahead So How Is That Phase One US-China Trade Agreement Going? Australia's Risks With Its Exports to China Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:30 JPY Tokyo CPI Core Y/Y Jun 0.20% 0.20% 0.20% 08:00 EUR Eurozone Private Loans Y/Y May 3.00% 3.20% 3.00% 08:00 EUR Eurozone M3 Money Supply Y/Y May 8.90% 8.50% 8.30% 8.20% 12:30 USD Personal Income M/M May -4.20% -6.00% 10.50% 10.80% 12:30 USD Personal Spending May 8.20% 9.00% -13.60% -12.60% 12:30 USD PCE Price Index M/M May 0.10% -0.50% 12:30 USD PCE Price Index Y/Y May 0.50% 0.50% 0.60% 12:30 USD Core PCE Price Index M/M May 0.10% 0.00% -0.40% 12:30 USD Core PCE Price Index Y/Y May 1.00% 0.90% 1.00% 14:00 USD Michigan Consumer Sentiment Index Jun F 79 78.9

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