Sterling Firmer in Tight Range, Yen Mildly Higher as US-China Trade Deal Back in Question
Action Insight Mid-Day Report 10-15-19

Sterling Firmer in Tight Range, Yen Mildly Higher as US-China Trade Deal Back in Question

Commodity currencies are generally softer today, as led by New Zealand Dollar. Euro also turned softer despite slightly better than expected German ZEW economic sentiment. US-China trade deal appears to be in question again, but reactions are so far mild. On the other hand, Sterling appears to be slightly strong despite weaker than expected job data. UK and EU appear to be working hard on a deal before October 31 to avert no-deal Brexit. Yen is currently the second strongest.

Technically, major pairs and crosses are staying in consolidation for now. GBP/USD is looking at 1.2707 temporary top and break will resume recent strong rise to 1.2819 projection level. GBP/JPY is also looking at 137.88 temporary top. Break will resume recent rise too, towards 140.33 fibonacci level.

In Europe, currently, FTSE is down -0.30%. DAX is up 0.40%. CAC is up 0.49%. German 10-year yield is down -0.010 at -0.464. Earlier in Asia, Nikkei rose 1.87%. Hong Kong HSI dropped -0.07%. China Shanghai SSE dropped -0.56%. Singapore Strait Times dropped -0.27%. Japan 10-year JGB yield rose 0.0079 at -0.171.

Full Report Here

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

Strong Inflation Could Affect PBOC's Policy to Stimulate Growth; Trade Data...
RBA Minutes – Sending Dovish Message by Rebuking Arguments in Favor...
US-China Trade Deal and Brexit Optimism Lifted Sentiments
Central Bank Views | China Watch | Oil N' Gold | Special Topics

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2527; (P) 1.2589; (R1) 1.2661; More....

GBP/USD is staying in consolidation from 1.2707 temporary top and intraday bias remains neutral. Another retreat cannot be ruled out. But downside should be contained well above 1.2195 support to bring another rally. On the upside, break of 1.2707 will resume the rise from 1.1958 low to 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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Fundamental Analysis | Technical Analysis
In-depth Reports
Strong Inflation Could Affect PBOC's Policy to Stimulate Growth; Trade Data Suggests China Continues to Suffer from Trade War
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Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
00:30 AUD RBA Meeting Minutes
01:30 CNY CPI Y/Y Sep 3.00% 2.90% 2.80%
01:30 CNY PPI Y/Y Sep -1.20% -1.20% -0.80%
04:30 JPY Tertiary Industry Index M/M Aug 0.40% 0.60% 0.10%
04:30 JPY Industrial Production M/M Aug F -1.20% -1.20% -1.20%
06:30 CHF Producer and Import Prices M/M Sep -0.30% -0.10% -0.20%
06:30 CHF Producer and Import Prices Y/Y Sep -2.00% -2.00% -1.90%
08:30 GBP Claimant Count Change Sep 21.1K 21.3K 28.2K 16.3K
08:30 GBP Claimant Count Rate Sep 3.30% 3.30%
08:30 GBP ILO Unemployment Rate 3M Aug 3.90% 3.80% 3.80%
08:30 GBP Average Earnings Including Bonus 3M/Y Aug 3.80% 3.90% 4.00% 3.90%
08:30 GBP Average Earnings Excluding Bonus 3M/Y Aug 3.80% 3.70% 3.80% 3.90%
09:00 EUR Germany ZEW Economic Sentiment Oct -22.8 -27 -22.5
09:00 EUR Germany ZEW Current Situation Oct -25.3 -25.5 -19.9
09:00 EUR Eurozone ZEW Economic Sentiment Oct -23.5 -26.7 -22.4