Action Insight Daily Report 8-10-20

Subdued Trading With Japan and Singapore on Holiday, Dollar Yet to Confirm Rebound

Action Insight Daily Report 8-10-20 Subdued Trading With Japan and Singapore on Holiday, Dollar Yet to Confirm Rebound The week starts with a rather subdued tone without much activity. It's National Day of Singapore while Japan is also on Mountain Day holiday. There is also no further price movements on US-China tensions. Major forex pairs and crosses are stuck inside Friday's range, with Dollar and Swiss Franc slightly softer. New Zealand Dollar is mixed even though confidence data suggests that the post-lockdown lift is fading. Technically, Dollar will remain a focus as questions is on whether it could strike a sustainable rebound. Levels to watch include 1.1695 support in EUR/USD, 1.2982 support in GBP/USD, 0.7076 support in AUD/USD, 0.9241 resistance in USD/CHF, 106.47 resistance in USD/JPY and 1.3459 resistance in USD/CAD. At the same time, Yen is also worth as note as both EUR/JPY and GBP/JPY lost much upside momentum. Though, near term bullishness could be retained as long as 123.01 support in EUR/JPY and 136.62 support in GBP/JPY hold. In Asia, currently, Hong Kong HSI is down -0.23%. China Shanghai SSE is up 1.07%. Japan and Singapore are on holidays. Full Report Here New Zealand ANZ business confidence dropped to -42.2, post-lockdown rebound run... Fed Evans: Another support package is really incredibly important Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol RBNZ Preview: Expect QE Size Expansion and More Discussion on Negative... CFTC Commitments of Traders – Gold's Net Length Climbed Slightly as... CFTC Commitments of Traders – Traders Trimmed Bets on USD amidst... Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CAD Daily Outlook Daily Pivots: (S1) 1.3323; (P) 1.3361; (R1) 1.3424; More.... Intraday bias in USD/CAD remains neutral first. Further fall is expected as long as 1.3459 resistance holds. Break of 1.3233 will target long term fibonacci level at 1.3056. However, firm break of 1.3459 will indicate short term bottoming, and turn bias back to the upside for 1.3715 resistance instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Forex And Cryptocurrency Forecast Gold Price Settles Above $2,000 For The First Time Asia Morning: U.S. Stocks Mixed Despite Upbeat Jobs Report US China Trade Agreement 1st Half Review – A Fail? What Marks the Spot for U.S. Dollar Weakness? Weekly Economic and Financial Commentary: Signs of Resilience Weekly Focus: Will Markets Keep Their Nerve amid Rising US-China Tension? Forward Guidance: Expiration of Policy Supports, Unpredictable US Trade Policy Cloud Outlook Despite Sunnier Data The Weekly Bottom Line: Jobs Recovery Continued in July, Albeit at Slower Pace Week Ahead: US Politicians – The Ball is in Your Court USD Ends the Week on a Strong Note Week Ahead – Sino-US Tech War Heats Up Week Ahead – Dollar Eyes US Stimulus Talks, Retail Sales; UK GDP and RBNZ in Focus Too Cliff Notes: Downward Forecast Revisions Highlight Enduring Uncertainty   Fundamental Analysis | Technical Analysis In-depth Reports US China Trade Agreement 1st Half Review - A Fail? What Marks the Spot for U.S. Dollar Weakness? Gold Breaks US$2000/oz as US dollar Loses Credibility as Reserve Currency Australia's Growth Prospects In Light Of Victoria's Disaster And The Fiscal Cliff Onward, Upward for the Eurozone Economy and Currency The Future of the US Dollar After the 2020 Election Research China: At the Foothills of a New Cold War – and What It Implies 'King Dollar' Falls from Grace, Growth Concerns to Blame? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 1:00 NZD ANZ Business Confidence Aug P -42.4 -31.8 1:30 CNY CPI Y/Y Jul 2.70% 2.60% 2.50% 1:30 CNY PPI Y/Y Jul -2.40% -2.50% -3.00% 5:45 CHF Unemployment Rate Jul 3.30% 3.40% 3.30% 8:30 EUR Eurozone Sentix Investor Confidence Aug -15.2 -18.2

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