Action Insight Weekly Report 8-15-20

Yields Surged, Gold Corrected, But Dollar Got No Lift

Action Insight Weekly Report 8-15-20 Yields Surged, Gold Corrected, But Dollar Got No Lift It was a rather mixed week where there were conditions for a Dollar rebound, with surging treasury yield and correction in Gold. Yet, no apparent rally was seen. Yen was sold off generally, partly on coronavirus and recovery optimism. But the Swiss Franc was firm together with Euro. Strong rally in iron ore prices and risk-on sentiments gave no boost to Australian Dollar. Commodity currencies diverged with Canadian Dollar ended as the strongest one, with some help from resilience in WTI oil price above 42. But New Zealand Dollar was the weakest one on RBNZ easing and coronavirus lockdown. Full Report Here Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/JPY Weekly Outlook GBP/JPY rose further to 140.20 last week but quickly lost momentum above 139.73 resistance. Initial bias is turned neutral for some consolidations first. Further rally is expected as long as 137.84 support holds. Rise from 123.94 has just resumed and break of 140.20 will target 100% projection of 123.94 to 135.74 from 129.27 at 141.07. However, break of 137.84 will indicate short term topping, on bearish divergence condition in 4 hour MACD. Intraday bias will be turned back to the downside for pull back. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Weekly Economic and Financial Commentary: After Strong Initial Rebound, Momentum is Slowing The Weekly Bottom Line: Markets Optimistic Despite No Deal Yet from Washington Forward Guidance: Economic Rebound Continues, But Pace to Slow Week Ahead: Hot Summer Days Cooling Down the Markets Week Ahead – Vaccine Hopes Torment Yen, All Eyes on Congress RBA Governor Casts More Light on Policy Options Cliff Notes: Evidence of Economic Resilience a Counterpoint to Fears Over COVID-19's Persistence Weekly Focus – Market-Based Inflation on the Rise and Rising Global Yields Fundamental Analysis | Technical Analysis In-depth Reports What Marks the Spot for U.S. Dollar Weakness? US China Trade Agreement 1st Half Review - A Fail? The Future of the US Dollar After the 2020 Election Research China: At the Foothills of a New Cold War – and What It Implies

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