Action Insight Daily Report 9-23-20

Aussie and Kiwi Down on Easing Expectations, Dollar and Yen Firm

Action Insight Daily Report 9-23-20 Aussie and Kiwi Down on Easing Expectations, Dollar and Yen Firm Commodity currencies tumble generally in Asian session today. New Zealand Dollar softens as RBNZ further affirm that it's in progress for more monetary easing, including negative interest rates. Aussie also tumble on increasing expectation of on imminent RBA rate cut in October. On the other hand, while US stocks closed higher overnight, recovery was not strong enough to warrant completion of the correction. That is, risks in stocks remain on the downside for now. The overall sentiments are supporting Dollar and Yen in general. Technically, Dollar is finally making progress in confirming it's momentum for a sustainable near term rebound. EUR/USD broke 1.1737 support firmly. GBP/USD breached 1.2762 support. AUD/USD also breached 0.7135 support. USD/CHF broke 0.9200 resistance. More upside is likely in the greenback for the near term. In Asia, currently, Nikkei is down -0.47%. Hong Kong HSI is up 0.01%. China Shanghai SSE is up 0.07%. Singapore Strait Times is down -0.01%. Japan 10-year JGB yield is down -0.0069 at 0.008. We'll see if it's heading back to negative. Overnight, DOW rose 0.52%. S&P 500 rose 1.05%. NASDAQ rose 1.71%. 10-year yield dropped -0.007 to 0.664. Full Report Here AUD/JPY and AUD/CAD tumble on speculation of Team Australia RBA rate... Japan PMI composite edged up to 45.5, setting the scene for... Australia PMI composite rose to 50.5, but rebound might lack legs... Australia retail sales dropped -4.2% mom in Aug, as Victoria sales... RBNZ holds OCR at 0.25% and prepares for more stimulus, NZD/USD... ECB Panetta: Euro appreciation is a factor to watch closely Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol SNB Preview : FX Intervention the Key Monetary Policy Tool to... RBNZ Preview – Waiting for More Hints on Negative Rate CFTC Commitments of Traders – NET SHORT of USD Index Futures... Central Bank Views | China Watch | Oil N' Gold | Special Topics AUD/USD Daily Report Daily Pivots: (S1) 0.7138; (P) 0.7186; (R1) 0.7218; More... AUD/USD's break of 0.7135 support now suggests that it's correcting the whole rise from 0.5506. Intraday bias is back on the downside as fall from 0.7413 would target o 38.2% retracement of 0.5506 to 0.7413 at 0.6685. On the upside, break of 0.7234 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.7413 resistance holds, in case of rebound. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings First Impressions: RBNZ Leaves Monetary Policy Unchanged For Now, Hints At FLP This Year RBA To Cut Rates On October 6 Crude Oil Price Showing Signs Of Fresh Decrease Asia Morning: U.S. Stocks Rebound USDJPY Inside Bar Pattern Confirmed 2020 US Election: Trump's Policies And Potential Market Impact What Will the Fed Do If Inflation Doesn't Hit 2%? Economic Modeling in the Post-COVID Era: Part I EU Flash PMIs May Not Revive Recovery Hopes as Virus Threat Rises Fundamental Analysis | Technical Analysis In-depth Reports RBA To Cut Rates On October 6 What Will the Fed Do If Inflation Doesn't Hit 2%? Economic Modeling in the Post-COVID Era: Part I Fed Monitor: Glass Half Empty or Half Full? Upbeat August Chinese Data Suggests PBOC to Leave Rates Unchanged for Longer Are We Chasing Inflation Ghosts? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:00 AUD CBA Manufacturing PMI Sep P 55.5 53.6 23:00 AUD CBA Services PMI Sep P 50 49 0:30 JPY Manufacturing PMI Sep P 47.3 47.3 47.2 2:00 NZD RBNZ Rate Decision 0.25% 0.25% 0.25% 4:30 JPY All Industry Activity Index M/M Jul 1.3% 1.30% 6.10% 6.8% 6:00 EUR Germany Gfk Consumer Confidence Oct -1 -1.8 7:15 EUR France Manufacturing PMI Sep P 50.6 49.8 7:15 EUR France Services PMI Sep P 51.7 51.5 7:30 EUR Germany Manufacturing PMI Sep P 52.5 52.2 7:30 EUR Germany Services PMI Sep P 53 52.5 8:00 EUR Eurozone Manufacturing PMI Sep P 51.9 51.7 8:00 EUR Eurozone Services PMI Sep P 50.5 50.5 8:30 GBP Manufacturing PMI Sep P 54 55.2 8:30 GBP Services PMI Sep P 56 58.8 13:00 USD Housing Price Index M/M Jul 0.50% 0.90% 13:45 USD Manufacturing PMI Sep P 53.1 53.1 13:45 USD Services PMI Sep P 54.7 55 14:00 USD Fed's Chair Powell testifies 14:00 USD Crude Oil Inventories

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!