Action Insight Mid-Day Report 7-10-20

Yen Staying Firm But Risk Markets Refuse to Give Up

Action Insight Mid-Day Report 7-10-20 Yen Staying Firm But Risk Markets Refuse to Give Up The financial markets are still refusing to commit to a direction. Major European stocks are generally higher despite broad selloff in Asia. US futures point to lower open while 10-year yield is doing its best to hold on to 0.6% handle. Swiss Franc is currently the worst performing one for today, followed by Aussie and Dollar. Yen remains the strongest one, followed by Euro and Sterling. Technically, many near term levels are not broken. EUR/USD recovers after touching 1.1258 minor support. AUD/USD recovers ahead of 0.6922 minor support. USD/CAD breached 1.3624 minor resistance but retreated. USD/JPY could be the one that's making its mind. But we'll see if it could sustain below 106.79 minor support to confirm completion of near term rebound from 106.07. In Europe, FTSE is up 0.60%. DAX is up 0.66%. CAC is up 0.60%. Germany 10-year yield is down -0.021 at -0.481. Earlier in Asia, Nikkei dropped -1.06%. Hong Kong HSI dropped -1.84%. China Shanghai SSE dropped -1.95%. Singapore Strait Times dropped -0.63%. Japan 10-year JGB yield dropped -0.0014 to 0.019. Full Report Here Fed Kaplan: Broad mask wearing and health care protocols executions key... US PPI dropped -0.2% mom in June, PPI core dropped -0.3%... Canada employment rose 953k in June, well above expectation Italy industrial output rose 42.1% mom in May, well above expectations French industrial production rose 19.6% in May, still down -21.2% from... US 10-year yield breaking 0.6 while stocks were mixed AUD/JPY tumbles as Victoria coronavirus cases spiked Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol China CPI Picked Up Due to Temporary Food Price Increase, Unlikely... Upside in Crude Oil Prices Limited: OPEC+ Cut Prone to Ease... RBA Left Monetary Policy Unchanged. Second Wave in Outbreak Signals Huge... Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1252; (P) 1.1312; (R1) 1.1343; More.... EUR/USD recovers after drawing support from 1.1258 and intraday bias stays neutral first. On the upside, above 1.1370 will target 1.1422 high. Break will resume larger rise from 1.0635 to 1.1496 key resistance. However, on the downside, break of 1.1258 minor support will turn bias back to the downside, to extend the consolidation to 38.2% retracement of 1.0635 to 1.1422 at 1.1121. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings NZDUSD Attempts To Restore Positive Sentiment USD Index Outook: Initial Signs Of Recovery Stall Are Developing On Daily Chart AUD/USD Flirts With The 70-Mark, What's Next? US 30 Index Loses Momentum In Short Term Gold Consolidates Above US 1800 But Oil Retreats Dollar Dance Continues, Yuan Breaks Below 7.00 GBP/USD Outlook: Reversal Pattern Is Forming On Daily Chart And Threatening Of Deeper Pullback EUR/USD Outlook: Fresh Bears Are Pausing Above Strong Supports And Awaiting Signal GBPUSD Tumbles After Touching 3-Month High USDCAD Confronts Downtrend Line Fortified By 40-Day SMA GBPJPY Prints A Bearish Shooting Star At 3-Week Highs Fundamental Analysis | Technical Analysis In-depth Reports Fear Gauge and Gold are Still Flashing Red; Are Stocks Finally Taking Note? China CPI Picked Up Due to Temporary Food Price Increase, Unlikely Derail Easing Monetary Policy Stance Policy Divergence Continues to Support AUDNZD Strength Emerging from Lockdown: A V-Shaped Recovery or False Optimism? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:50 JPY PPI Y/Y Jun -1.60% -1.90% -2.70% -2.80% 06:45 EUR France Industrial Output M/M May 19.60% 15.00% -20.10% -20.60% 08:00 EUR Italy Industrial Output M/M May 42.10% 19.20% -19.10% -20.50% 12:30 USD PPI M/M Jun -0.20% 0.40% 0.40% 12:30 USD PPI Y/Y Jun -0.80% -0.40% -0.80% 12:30 USD PPI Core M/M Jun -0.30% 0.10% -0.10% 12:30 USD PPI Core Y/Y Jun 0.10% 0.50% 0.30% 12:30 CAD Net Change in Employment Jun 952.9 K 675.0K 289.6K 12:30 CAD Unemployment Rate Jun 12.30% 11.90% 13.70%

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