Action Insight Mid-Day Report 8-4-20

Aussie Firmer after RBA, Dollar Rebound Fades

Action Insight Mid-Day Report 8-4-20 Dollar Having Another Rebound Attempt, Sterling Pulls Back Dollar is having another rally attempt today and appears to be making some progress, at least against the relatively weaker Sterling. At this point, Swiss Franc is the strongest one, followed by the greenback. Australian Dollar is also firm after a non-eventful RBA rate decision. On the other hand, the Pound is the weakest one. New Zealand Dollar is the second weakest, partly due to cross selling against Aussie. Kiwi is also cautious ahead of tomorrow's job data. Technically, GBP/USD's break of 1.3013 minor support suggests short term topping and deeper fall could be seen towards 1.2813 cluster support. That's helped by GBP/JPY's retreat ahead of 139.73 resistance, as well as EUR/GBP's recovery. The greenback still need to overcome some levels to confirm it's underlying moment. Those levels include 1.1698 minor support in EUR/USD, 0.7063 support in AUD/USD, 0.9241 minor resistance in USD/CHF and 1.3459 minor resistance in USD/CAD. At the same time, 1939.20 support in Gold will also be watched to verify Dollar's rebound. In Europe, currently, FTSE is down -0.14%. DAX is down -0.85%. CAC is down -0.34%. German 10-year yield is down -0.0269 at -0.549. Earlier in Asia, Nikkei rose 1.70%. Hong Kong HSI rose 2.00%. China Shanghai SSE rose 0.11%. China Shanghai SSE rose 1.24%. Japan 10-year JGB yield dropped -0.0085 to 0.015. Full Report Here ECB Lane: PEPP envelop determines the overall monetary stance, not monthly... Eurozone PPI at 0.3% mom, -3.7% yoy in June RBA stood pat, expects uneven and bumpy recovery Australia retail sales rose 2.7% in June, dropped -3.4% in the... BoJ Kuroda: Risks are high with increasing coronavirus infections outside Tokyo Fed Evans: Monetary policy is about where it can be Fed Barkin: Coronavirus created economic pothole becomes sinkhole Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol RBA Cautioned over Uneven and Bumpy Recovery amidst Second Wave of... BOE Preview – Expecting More Hint on Lowering ELB while Near-Term... Yen, Dollar, Aussie, Gold and Stocks in Focuses in a Busy... Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.3017; (P) 1.3065; (R1) 1.3125; More.... GBP/USD's break of 1.3013 minor support suggest short term topping in 1.3170. Intraday bias is back on the downside for 4 hour 55 EMA (now at 1.2941) and below. Downside should be contained by 1.2813 cluster support (38.2% retracement of 1.2251 to 1.3170 at 1.2819) to bring rebound. On the upside, break of 1.3170 will resume larger rise from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings NZD/USD on Hold ahead of NZ Employment Data US Futures Consolidate – Watch TTWO, AIG, NIO US Open – Waiting For Washington To Deliver Oil And Gold Show Modest Gains Asian Stocks March Higher On Recovery Hopes US Dollar Continues To Erode Losses Euro Looks Too Hot To Handle Nasdaq Conquers New Heights As US Infections Slow Down GBPUSD Gains Take A Blow, Positive Signals Relatively Intact EURJPY Bulls Battling Against 200-Weekly SMA The Hints Of Recovery Continue RBA Keeps Rates Unchanged, AUD/USD Turns Up EU Indices Positive This Morning | TA Focus On FLSmidth & Co RBA Governor Signals More Bond Purchases; Reviews the Growth Forecasts Fundamental Analysis | Technical Analysis In-depth Reports RBA Governor Signals More Bond Purchases; Reviews the Growth Forecasts RBA Cautioned over Uneven and Bumpy Recovery amidst Second Wave of Outbreak. Maintained All Easing Measures 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 China's Economy Continued to Improve in July, but Pace Varied Across Sectors 'King Dollar' Falls from Grace, Growth Concerns to Blame? Gold Price Approaches US$2,000/oz amidst Low Real Yields, Rising Inflation Expectations and Geopolitical Tensions Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:30 JPY Tokyo CPI Core Y/Y Jul 0.40% 0.20% 0.20% 23:50 JPY Monetary Base Y/Y Jul 9.80% 6.30% 6.00% 0:30 AUD Retail Sales M/M Jun 2.70% 2.40% 2.40% 1:30 AUD Trade Balance (AUD) Jun 8.20B 8.80B 8.03B 7.34B 4:30 AUD RBA Rate Decision 0.25% 0.25% 0.25% 5:45 CHF SECO Consumer Climate Q3 -12 -39.3 9:00 EUR Eurozone PPI M/M Jun 0.70% 0.50% -0.60% 9:00 EUR Eurozone PPI Y/Y Jun -3.70% -3.90% -5.00% 13:30 CAD Manufacturing PMI Jul 47.8 14:00 USD Factory Orders M/M Jun 5% 8%

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 our service provider Sent by contact@actionforex.com powered by Try email marketing for free today!