Euro Hammered as Lockdown Returns, Risk Sentiments Turn Sour
Action Insight Mid-Day Report 11-19-21

Euro Hammered as Lockdown Returns, Risk Sentiments Turn Sour

Euro's recovery was rather short-lived as selling returns after dovish comments from ECB president. Also, Austria returned to full lockdown while Germany may follow on the fourth wave of COVID-19 infections. Yen rises broadly today as risk sentiments turn sour. For the week, Euro remains the worst performer, followed by Aussie. Sterling is still the best performer, followed by Yen and then Dollar.

Technically, EUR/CHF should have taken out 1.5050 key long term support decisively. Current down trend should now target 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200. We'll now see if selling in EUR/UISD would pick up below 1.13 handle.

In Europe, at the time of writing, FTSE is down -0.59%. DAX is down -0.65%. CAC is down -0.85%. Germany 10-year yield is down -0.056 at -0.331. Earlier in Asia, Nikkei rose 0.50%. Hong Kong dropped -1.07%. China Shanghai SSE rose 1.13%. Singapore Strait Times dropped -0.14%. Japan 10-year JGB yield dropped -0.0042 to 0.079.

Full Report Here

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EUR/CHF Mid-Day Outlook

Daily Pivots: (S1) 1.0507; (P) 1.0517; (R1) 1.0536; More....

EUR/CHF's down trend resumes and hits as long as 1.0446 so far. The break of 1.0505 long term support should confirm resumption of long term down trend. Intraday bias is back on the downside for 161.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0200 next. On the upside, above 1.0527 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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Fundamental Analysis | Technical Analysis
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Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
23:30 JPY National CPI Core Y/Y Oct 0.10% 0.10% 0.10%
00:01 GBP GfK Consumer Confidence Nov -14 -16 -17
07:00 EUR Germany PPI M/M Oct 3.80% 1.20% 2.30%
07:00 EUR Germany PPI Y/Y Oct 18.40% 12.70% 14.20%
07:00 GBP Retail Sales M/M Oct 0.80% 0.50% -0.20% 0.00%
07:00 GBP Retail Sales Y/Y Oct -1.30% -0.40% -1.30% -0.60%
07:00 GBP Retail Sales ex-Fuel M/M Oct 1.60% 0.20% -0.60% -0.40%
07:00 GBP Retail Sales ex-Fuel Y/Y Oct -1.90% -3.10% -2.60% -1.90%
09:00 EUR Eurozone Current Account (EUR) Sep 18.7B 16.2B 13.4B 17.1B
09:30 GBP Public Sector Net Borrowing (GBP) Oct 18.0B 22.3B 21.0B 19.9B
13:30 CAD Retail Sales M/M Sep -0.60% -1.60% 2.10%
13:30 CAD Retail Sales ex Autos M/M Sep -0.20% -1.00% 2.80%
13:30 CAD New Housing Price Index M/M Oct 0.90% 0.50% 0.40%