Action Insight Weekly Report 8-2-20

Yen, Dollar, Aussie, Gold and Stocks in Focuses in a Busy Week

Action Insight Weekly Report 8-2-20 Yen, Dollar, Aussie, Gold and Stocks in Focuses in a Busy Week Dollar's selloff extended last week, after rather uneventful Fed meeting. The decline was particularly serious against generally strong European majors. Sterling ended as the strongest one this time, followed by Euro and Swiss Franc. While the greenback was weak, New Zealand and Canadian Dollar were even worse, with the latter weighed down by pull back in oil price. Gold and Silver lost some momentum after recent powerful run. The upcoming week is also guaranteed to be interesting with a super busy calendar. Central bank activities include RBA and BoE rate decisions. Economic data include US ISMs and non-farm payroll, Canadian employment, Japan GDP, New Zealand employment and China PMIs. These event could further shape the interactions between Yen, Dollar, Gold, Aussie and stocks as discussed below. Full Report Here Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/JPY Weekly Outlook GBP/JPY surged to as high as 139.20 last week as rise from 131.68 extended. Initial bias stays on the upside this week for 139.73 resistance first. Break there will resume the whole rise from 123.94 and target 100% projection of 123.94 to 135.74 from 129.27 at 141.07. On the downside, break of 136.62 resistance turned support is needed to indicate short term topping. Otherwise, outlook will remain cautiously bullish in case of retreat. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings CFTC Commitments of Traders – NET LENGTH on Crude Oil and... CFTC Commitments of Traders – Bets on Higher Euro Sharply Increased... Weekly Economic and Financial Commentary: The Second Wave Appears to Have Crested The Weekly Bottom Line: Historical Decline in GDP As Virus Struck in Q2 Forward Guidance: Growth in Employment to Continue in July, at a Slower Pace Week Ahead: The Coronavirus Continues to Dominate Global Economies Week Ahead – Is the Economic Recovery Stalling? Research China: At the Foothills of a New Cold War – and What It Implies Aussie Braces for Dovish Tilt by RBA as Australia Battles Second Virus Wave Week Ahead – Can Non-Farm Payrolls Halt the Dollar's Descent? Cliff Notes: A Record-Breaking Week Fundamental Analysis | Technical Analysis In-depth Reports 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

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