Action Insight Daily Report 9-8-20

Dollar Firm But No Breakthrough Yet, Except Versus Swiss Franc

Action Insight Daily Report 9-8-20 Dollar Firm But No Breakthrough Yet, Except Versus Swiss Franc Sterling remains generally weaker today, on Brexit concerns. But Swiss Franc is apparently worse for now, dropping through a near term support level against the greenback. On the other hand, Yen and Dollar stay firm in mixed Asian markets. Yen is not too troubled by data that showed deeper than estimated economic contraction in Q2. Instead, eyes are on who the next Japanese Prime Minister would be. Australian Dollar is attempting a rebound too but upside is capped by business conditions data. Technically, USD/CHF's break of 0.9161 resistance suggests short term bottoming at 0.8998. The pair should be on track for a stronger rebound. But we'd still need to see more breakthrough in Dollar pairs to confirm the underlying momentum in the greenback. The levels to watch include 1.1762 support in EUR/USD, 1.3053 support in GBP/USD. In Asia, currently, Nikkei is up 0.51%. Hong Kong HSI is down -0.57%. China Shanghai SSE is down -0.34%> Singapore Strait Times is up 0.30%. Japan 10-year JGB yield is down -0.00-37 at 0.038. Full Report Here Australia NAB business conditions dropped to -6, as employment deteriorated Japan Q2 GDP contraction finalized at -7.9% qoq, -28.1% annualized BoE Haldane a touch more optimistic than his MPC colleagues Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol ECB Preview – Warning about Euro Strength with No Action Needed   Gold Pressured by Better Data, Stronger USD and Yields Dollar Down Trend, Stocks Up Trend Still Intact after Roller-Coaster Ride Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CHF Daily Outlook Daily Pivots: (S1) 0.9132; (P) 0.9151; (R1) 0.9181; More... USD/CHF's break of 0.9161 resistance should confirm short term bottoming at 0.8998, on bullish convergence condition in 4 hour MACD. Intraday bias is turned back to the upside for 55 day EMA (now at 0.9230) and above. Such rise is currently seen as a corrective move and hence, we'd pay attention to topping around 38.2% retracement of 0.9901 to 0.8998 at 0.9343. On the downside, below 0.9082 minor support will turn bias back to the downside for retesting 0.8998 low instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings GBP/USD Turns Red Below The Key 1.3250 Support Currency Pair Of The Week: EUR/CAD Pound Drops On Renewed Brexit Pessimism WTI Oil Outlook: Oil Extends Steep Fall Into Fourth Straight Day And Hits Two-Month Low Fundamental Analysis | Technical Analysis In-depth Reports Gold Pressured by Better Data, Stronger USD and Yields Australia's Growth Outlook Improves US Elections: A Simple Guide and Market Implications What Happens to Interest Rates During an Election Year? Oil Market and Gas Price History by President Fed Monitor: Forward Guidance Linked To Inflation Outcomes And Faster QE Buying On The Cards The Forex Market and Presidential Terms How Quickly Will Japan's Economy Bounce Back? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:01 GBP BRC Retail Sales Monitor Y/Y Aug 4.70% 4.30% 23:30 JPY Labor Cash Earnings Y/Y Jul -1.30% -1.60% -2.00% 23:30 JPY Household Spending Y/Y Jul -7.60% -3.70% -1.20% 23:50 JPY Bank Lending Y/Y Aug 6.70% 6.30% 6.30% 6.40% 23:50 JPY GDP Q/Q Q2 F -7.90% -8.10% -7.80% 23:50 JPY GDP Deflator Y/Y Q2 F 1.30% 1.50% 1.50% 23:50 JPY Current Account (JPY) Jul 0.96T 1.44T 1.05T 1:30 AUD NAB Business Confidence Aug -8 -14 1:30 AUD NAB Business Conditions Aug -6 0 5:00 JPY Eco Watchers Survey: Current Aug 41 41.1 6:00 EUR Germany Trade Balance (EUR) Jul 14.9B 14.5B 6:45 EUR France Trade Balance (EUR) Jul -7.0B -8.0B 8:00 EUR Italy Retail Sales M/M Jul 1.10% 12.10% 9:00 EUR Eurozone GDP Q/Q Q2 F -12.10% -12.10% 9:00 EUR Eurozone Employment Change Q/Q Q2 F -2.80% -2.80% 10:00 USD NFIB Business Optimism Index Aug 98 98.8

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!