Forex Daily Analysis - Thursday, Sep 20th

50bp Cut by the Fed Sent EURUSD to new Highs.

Fed decided to cut the benchmark and discount rate 50 bp, which was more than expected. EURUSD new highs at 1.3988 at trend resistance with 1.40 coming closer. US data disappointing once again today.

Overnight News Bullets

* German Producer Prices MoM (Aug) out at 0.1%/1.0% MoM/YoY as expected.
* Swiss Adjusted Retail Sales YoY (Jul) out at 3.3% vs. 5.3% expected.
* Italian Industrial Orders and Sales much better than expected.
* BoE Minutes: 9-0 in favour of keeping rates unchanged in September.
* US Mortgage Applications out at 2.4% vs. 5.5% prior.
* Canadian CPI MoM/YoY (Aug) out at -0.3%/1.7% vs. 0.1%/2.1% expected.
* Bank Canada CPI MoM/YoY (Aug) out at 0.1%/2.2% vs. 0.2%/2.3% expected.
* US CPI MoM/YoY (Aug) out at -0.1%/2.0% vs. 0.0%/2.1% expected.
* US CPI Ex Food & Energy (Aug) out at 0.2%/2.1% vs. 0.2%/2.2% expected.
* US Housing Starts (Aug) out at 1331K vs. 1350K expected. July Revision -14K.
* US Building Permits (Aug) out at 1307K vs. 1348K expected. July Revision +16K.
* US DOE Crude Oil Inventories out at -3874K vs. -2025K expected.
* NZ Current Account Balance (2Q) out at -2914B vs. 3286B expected.
* Japanese BSI Large All Industry QoQ (3Q) out at 6.2 vs. -0.9 prior.
* Japanese BSI Manufacturing QoQ (3Q) out at 7.7 vs. -2.2 prior.
* Australian HIA New Home Sales Mom (Aug) out at -8.6% vs. 1.5% prior.

O/N Data Heat map:

EU	US	JP	UK	SZ	AU	CA	NZ	NO	SE	FR
0	-	+	0	-	-	-	0	0	0	0

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