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

Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

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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

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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