Action Insight Mid-Day Report 6-5-20

Dollar Trying a Rebound as NFP Grew in May, Yen and Franc Weaken

Action Insight Mid-Day Report 6-5-20 Dollar Trying a Rebound as NFP Grew in May, Yen and Franc Weaken Dollar attempts to rebound after non-farm payroll employment unexpectedly rebounded while unemployment rate fell. But strength is mainly centered against Yen, Swiss Franc, and to a lesser extent Euro. Commodity currencies continue to be the strongest ones, together with Sterling. Canadian Dollar also firms up on job growth but lags behind Aussie and Kiwi. In Europe, currently, FTSE is up 1.59$. DAX is up 2.31%. CAC is up 2.80%. German 10-year yield is up 0.044 at -0.273. Earlier in Asia, Nikkei rose 0.74%. Hong Kong HSI rose 1.66%. China Shanghai SSE rose 040%. Singapore Strait Times rose 1.64%. Japan 10-year JGB yield rose 0.0102 to 0.040. Full Report Here Limited progress made in Brexit negotiations Canada employment rose 290k in May, unemployment rate rose to record... US NFP grew 2.5m, unemployment rate dropped to 13.3% ECB Lane: PEPP expansion proportionate to substantial downward revision of outlook UK GfK consumer confidence dropped to -36, lowest since 2009 Australia performance of services rose to 31.6, muted optimism from easing... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol ECB Expands and Extends PEPP, after Sharply Downgrading Inflation US Oil Inventory Surprisingly Dropped BOC Turns More Optimistic About Economy, Scales Back Term Financing Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/JPY Mid-Day Outlook Daily Pivots: (S1) 108.79; (P) 109.00; (R1) 109.37; More.. USD/JPY rises to as high as 109.69 so far and broke 109.38 resistance. Intraday bias remains on the upside for a test on 111.71 resistance next. On the downside, below 108.61 minor support will turn intraday bias neutral and bring consolidations first. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings US Job Market Moving in the Right Direction US Futures Green Ahead Of Jobs Report, Watch AVGO, GPS, WORK USD Weakens Ahead Of NFP Report GBPUSD Spikes Above 1.2600 But Returns Some Gains GBPAUD Bears Take A Breather At The Bottom Of A Tight Channel Horrific Data Can't Derail Stimulus Trade Euro Soars After ECB's Surprise, Dollar Extends Slide Ahead Of NFP EURUSD Shines At Summer Highs After ECB Presses The Stimulus Button USDCAD Challenges 3-Month Low, Finds Some Footing At 200-Day SMA EUR/USD Outlook: Bulls Eye 2020 High After Taking Out The Last Barrier, US Jobs Data In Focus Cliff Notes: Expectations of Recovery A$ Near 70 cents as Australia's Recession Begins Weekly Focus – Reopening Lifts Spirits, US-China Tensions Increase Fundamental Analysis | Technical Analysis In-depth Reports ECB Expands and Extends PEPP, after Sharply Downgrading Inflation Effects of U.S. Supply Chain Re-Orientation: Part I 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 22:30 AUD AiG Performance of Services Index May 31.6 27.1 23:01 GBP GfK Consumer Confidence May P -36 -40 -34 23:30 JPY Overall Household Spending Y/Y Apr -11.10% -12.80% -6.00% 05:00 JPY Leading Economic Index Apr P 76.2 80.5 84.7 85.1 06:00 EUR Germany Factory Orders M/M Apr -25.80% -20.00% -15.60% -15.00% 07:00 CHF Foreign Currency Reserves (CHF) May 816B 800B 08:00 EUR Italy Retail Sales M/M Apr -10.50% -10.00% -20.50% -21.30% 12:30 USD Nonfarm Payrolls May 2509K -8000K -20537K -20687K 12:30 USD Unemployment Rate May 13.30% 19.60% 14.70% 12:30 USD Average Hourly Earnings M/M May -1.00% 0.70% 4.70% 12:30 CAD Net Change in Employment May 289.6K -500.0K -1993.8K 12:30 CAD Unemployment Rate May 13.70% 15.00% 13.00% 15:00 CAD Ivey PMI May 30.8 22.8

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