Action Insight Mid-Day Report 3-1-21

Swiss Franc Sold Off Again as Stocks Rebound, Yields Turned Mixed

Action Insight Mid-Day Report 3-1-21 Swiss Franc Sold Off Again as Stocks Rebound, Yields Turned Mixed Swiss Franc is in deep selloff again today as risk sentiment further stabilized in the markets. European indices rebound broadly while US futures point to higher open. Global bond markets also turned mixed for now. Euro and Yen are following as next weakest. Meanwhile, Canadian Dollar is leading other commodity currencies higher. Dollar and Sterling are mixed for now. Technically, EUR/AUD could be a focus with RBA rate decision featured in the upcoming Asian session. It's so far bounded inside near term falling channel despite last week's strong rebound. Break of 1.5487 minor support will suggest completion of the rebound and bring retest of 1.5250 low. In Europe, currently, FTSE is up 1.32%. DAX is up 1.05%. CAC is up 1.36%. Germany 10-year yield is down -0.0602 at -0.319. Earlier in Asia, Nikkei rose 2.41%. Hong Kong HSI rose 1.63%. China Shanghai SSE rose 1.21%. Singapore Strait Times rose 0.81%. Japan 10-year JGB yield dropped -0.0016 to 0.157. Full Report Here BIS: Central banks have to work out the implications of rising... UK PMI manufacturing finalized at 55.1 in Feb, stretched supply chains... Eurozone PMI manufacturing finalized at 57.9, fastest cost inflation in a... GBP/CHF rally takes a breather after hitting 55M EMA, some near.... Gold rebounds from 38.2% retracement support, some upside prospects China Caixin PMI manufacturing dropped to 50.9, inflationary pressure continued to... Japan PMI manufacturing finalized at 51.4. Feb, sharp rises in raw... Australia AiG manufacturing rose to 58.8 in Feb, input prices surged Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol RBA Preview - Assessing Impacts of Rising Yields on Economy after Unexpected Increase in Bond Buying CFTC Commitments of Traders - Risky Currencies Pulled Back on Profit-Taking CFTC Commitments of Traders - Traders Trimmed Bets on Crude Oil after Strong Rally Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9042; (P) 0.9072; (R1) 0.9117; More.... USD/CHF's rally accelerates to as high as 0.9143 so far today, and intraday bias remains on the upside. Current rise from 0.8756 is in progress for 100% projection of 0.8756 to 0.9044 from 0.8869 at 0.9127 next. Break there will target 0.9181 support turned resistance next. On the downside, break of 0.9069 minor support will turn intraday bias neutral first. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Can the RBA Shoot Momentumthe Aussie Down? Currency Pair of the Week: AUD/USD USDJPY's Weekly Bullish Cycle Could Lose Impetus Oil Recovers, Gold Steady EUR/USD Outlook: Euro Extends Weakness After Strong Fall On Friday AUDUSD Leaps Back Above 200-MA But Bearish Risks Persist Stocks Edge Up, Dollar Eases As Bond Markets Stabilize EURUSD Faces Restrictions Within The Cloud; Bias Neutral Gold Finds Support At Descending Channel, Still Negative Markets Breathe A Sigh Of Relief EUR/USD Should Recover 1.21 For The Pair To Retain The Short-Term Upward Fundamental Analysis | Technical Analysis In-depth Reports Global Yields Catch Up With US Treasuries; Has the Dollar's Rebound Been Thwarted? Longer-Term Demand/Supply Outlook Remains Supportive of Copper Strength Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 01:00 CNY Non-Manufacturing PMI Feb 51.4 52.1 52.4 01:00 CNY NBS Manufacturing PMI Feb 50.6 51.1 51.3 21:30 AUD AiG Performance of Manufacturing Feb 58.8 55.3 00:00 AUD TD Securities Inflation M/M Feb 0.10% 0.20% 00:30 AUD Company Gross Operating Profits Q/Q Q4 -6.60% 2.10% 3.20% 00:30 JPY Jibun Bank Manufacturing PMI Feb F 51.4 49.9 49.8 01:45 CNY Caixin Manufacturing PMI Feb 50.9 51.5 51.5 07:30 CHF Real Retail Sales Y/Y Jan -0.50% 4.50% 4.70% 08:30 CHF SVME PMI Feb 61.3 60 59.4 08:45 EUR Italy Manufacturing PMI Feb 56.9 56.5 55.1 08:50 EUR France Manufacturing PMI Feb F 56.1 55 55 08:55 EUR Germany Manufacturing PMI Feb F 60.7 60.6 60.6 09:00 EUR Eurozone Manufacturing PMI Feb F 57.9 54.7 57.7 09:30 GBP Manufacturing PMI Feb F 55.1 54.9 54.9 09:30 GBP Mortgage Approvals Jan 99K 100K 103K 09:30 GBP M4 Money Supply M/M Jan 0.70% 0.70% 0.60% 13:00 EUR Germany CPI M/M Feb P 0.70% 0.50% 0.80% 13:00 EUR Germany CPI Y/Y Feb P 1.30% 1.20% 1.00% 13:30 CAD Current Account (CAD) Q4 -7.3B -7.0B -7.5B 14:30 CAD Manufacturing PMI Feb 54.4 14:45 USD Manufacturing PMI Feb F 58.5 58.5 15:00 USD ISM Manufacturing PMI Feb 58.9 58.7 15:00 USD ISM Manufacturing Prices Paid Feb 80 82.1 15:00 USD ISM Manufacturing Employment Index Feb 52.6 15:00 USD Construction Spending M/M Jan 0.70% 1.00%

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