Action Insight Daily Report 7-7-20

Markets in Full Risk On, Dollar Tumbles While Euro Surges

Action Insight Daily Report 7-7-20 Aussie Lower as Melbourne Back in Lockdown, RBA Stands Pat Australian Dollar trades mildly lower today as Asian stocks outside China are paring gains. Also, as coronavirus virus cases surged again in Victoria state, Melbourne is back in lockdown. Meanwhile, RBA stands pat as widely expected and provide little inspirations. As for now, commodity currencies are also weak while Dollar and Sterling are the stronger ones. Technically, despite yesterday's selloff, Dollar is generally holding above near term support level. Those levels include 1.1348 resistance in EUR/USD, 1.2542 resistance in GBP/USD, 0.7064 resistance in AUD/USD. 1.3485 support in USD/CAD and 106.79 support in USD/JPY. We'll see if Dollar could strike a comeback today. In Asia, Nikkei closed down -0.44%. Hong Kong HSI dropped -0.57%. China Shanghai SSE is up 1.45%. Singapore Strait Times is down -0.51%. Japan 10-year JGB yield is down -0.0007 at 0.038. Overnight, DOW rose 1.78%. S&P 500 rose 1.59%. NASDAQ rose 2.21% to 10433.65, another record high. 10-year yield rose 0.015 to 0.684. Full Report Here RBA stands pat and pledged not to raise interest rate until... Japan labor cash earnings dropped -2.1%, household depending dropped record -16.2% Australia AiG services dropped back slightly to 31.5, employment shrank further New Zealand NZIER business confidence improved, but stays low on pre-election... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Bet on Lower USD Continued. Expect... CFTC Commitments of Traders – Bets on Higher Energy Prices Dropped... Markets Welcome Solid Economic Data and Ignored Coronavirus Numbers Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Report Daily Pivots: (S1) 0.6939; (P) 0.6963; (R1) 0.6998; More... AUD/USD's recovery lost momentum again ahead of 0.7064 high. Intraday bias remains neutral first. At this point, we'd still expect correction from 0.7064 to extend with another falling leg. On the downside, break of 0.6776 will turn bias to the downside for 38.2% retracement of 0.5506 to 0.7064 at 0.6469. Nevertheless, sustained break of 0.7064 will resume whole rise from 0.5506 instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings GBP/USD Could Accelerate Gains Above 1.2550 BoC Surveys Show Expectations for Gradual Recovery Asia Morning: U.S. Stocks Surge As Confidence Builds Can The EUR/USD Hold Key Intraday Support JP 225 Index Maintains Horizontal Mode Currency Pair of the Week: AUD/CAD Fundamental Analysis | Technical Analysis In-depth Reports Policy Divergence Continues to Support AUDNZD Strength PBOC to Ease Less Aggressively as Debt Problems Intensify after Months of Liquidity Injection Emerging from Lockdown: A V-Shaped Recovery or False Optimism? HKD Supported by Low US Yield and Seasonal Factors, Despite Huge Political Uncertainty Ahead Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 22:30 AUD AiG Performance of Services Index Jun 31.5 31.6 23:30 JPY Labor Cash Earnings Y/Y May -2.10% -1.10% -0.70% 23:30 JPY Overall Household Spending Y/Y May -16.20% -12.20% -11.10% 4:30 AUD RBA Rate Decision 0.25% 0.25% 0.25% 4:30 AUD RBA Rate Statement 5:00 JPY Leading Economic Index May P 79.2 79.5 77.7 6:00 EUR Germany Industrial Production M/M May 7.80% 10.00% -17.90% -17.50% 6:45 EUR France Trade Balance (EUR) May -4.5B -5.0B 7:00 CHF Foreign Currency Reserves (CHF) Jun 816B 8:00 Italy Italy Retail Sales M/M May 15.00% -10.50% 15:00 CAD Ivey PMI Jun 50.2 39.1

Action Forex Company Limited | Room 804, 8/F. , Prosperity Centre, 982 Canton Road, Mongkok, Kowloon 852 Hong Kong SAR China Unsubscribe mondemand.forex@blogger.com Update Profile | About Constant Contact Sent by contact@actionforex.com in collaboration with Try email marketing for free today!