Action Insight Mid-Day Report 8-10-20

Swiss Franc Weakens While Markets Tread Water

Action Insight Mid-Day Report 8-10-20 Swiss Franc Weakens While Markets Tread Water Markets continue to tread water today with little movements. European indices are fluctuating in tight range between gain and loss. US futures point to mildly higher open. In the currency markets, most major pairs and crosses are stuck in side Friday's range. Swiss franc is currently weakest, followed by Euro and Aussie. Canadian is the strongest one, followed by Dollar and Pound. Technically, EUR/CHF might be a cross to watch for the rest of the day. It's bounded in range below 1.0838 for a while. Break of this resistance will resume the rebound form 1.0602 to 1.0915. GBP/CHF drew support from 4 hour 55 EMA again and recovered. Break of 1.2034 will resume the choppy rise from 1.1630 for 1.2259 high. In Europe, currently, FTSE is up 0.28%. DAX is up 0.09%. CAC is up 0.32%. German 10-year yield is down -0.0222. Earlier in Asia, Hong Kong HSI dropped -0.63%. China Shanghai SSE rose 0.75%. Japan and Singapore were on holidays. Full Report Here Bank of France: July economic activity -7% below normal levels Eurozone Sentix investor confidence rose to -13.4 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/JPY Mid-Day Outlook Daily Pivots: (S1) 105.58; (P) 105.82; (R1) 106.16; More... USD/JPY is staying in consolidation from 106.47 and intraday bias remains neutral. The bullish case is still in favor for now. That is, corrective fall from 111.71 has completed with three waves down to 104.18, after missing 100% projection of 111.71 to 105.98 from 109.85 at 104.12. On the upside, above 106.47 will target 108.16 resistance next. Nevertheless, break of 104.18 will extend the whole decline from 111.71 instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings US Futures Flat – Watch SPG, AAPL, TWTR, BRK-A, FDX, PINS USD Tries To Stabilise, Yet Situation Remains Uncertain US 500 Index Preserves Positive Objectives USDJPY Fails To Improve Positive Picture Gold and Silver Slip as US Dollar Rebounds Is The Buy Everything Trade Stalling? EU Indices Slightly Up | TA Focus On Atlantia Gold's Stability May Not Be A Worry Above 2,000-1,939 Zone EURUSD Returns Lower After Touching 27-Month High Above 1.1900 Dollar Gets A Second Wind After US Payrolls, Can It Last? US Stock Futures Pointing Towards A Positive Start Despite Rising US-China Tensions 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 -13.4 -15.2 -18.2

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