Action Insight Daily Report 4-10-18
| Action Insight Daily Report 4-10-18 | | Markets Cheer as China Xi Didn't Escalate Tension with US, Australian and Canadian Dollar Lead the Way Up | Asian markets responded positively to the highly anticipated speech by China President Xi Jinping. At the time of writing, Nikkei is trading up 0.65% and HK HSI is up 1.14%. But it should be noted that Nikkei is already trading way off today's high at 21933.99. We could see the pattern in the US markets overnight repeat. That, DOW initially surged to 24373.18 but ended up closing at 23979.10, up only 0.19 pts. More importantly, DOW closed below yesterday's open at 24037.52. We'd like to point out that Xi's speech didn't do anything to ease the tension between US and China. Markets were probably just relieved as Xi didn't say anything over the top to worsen the situation. |  | 
|  | AUD/USD Daily Outlook Daily Pivots: (S1) 0.7665; (P) 0.7687; (R1) 0.7723; More... AUD/USD recovers strongly today and reaches as high as 0.7737 so far. But still, it's staying in range between 0.7642 and 0.7784 and intraday bias remains neutral. As long as 0.7784 holds, near term outlook stays bearish for another decline. On the downside, break of 0.7642 will turn bias to the downside to extend recent fall from 0.8135 to retest 0.7500 key support level. On the upside, however, break of 0.7784 will suggest near term reversal and turn bias to the upside for 0.7915 resistance first. | | | GMT | Ccy | Events | Actual | Forecast | Previous | Revised | | 23:01 | GBP | BRC Retail Sales Monitor Y/Y Mar | 1.40% | | 0.60% | | | 1:30 | AUD | NAB Business Conditions Mar | 14 | 17 | 21 | | | 1:30 | AUD | NAB Business Confidence Mar | 7 | 12 | 9 | | | 6:00 | JPY | Machine Tool Orders Y/Y Mar P | | | 39.50% | | | 12:30 | CAD | Building Permits M/M Feb | | | 5.60% | | | 12:30 | USD | PPI M/M Mar | | 0.10% | 0.20% | | | 12:30 | USD | PPI Y/Y Mar | | 2.90% | 2.80% | | | 12:30 | USD | PPI Core M/M Mar | | 0.20% | 0.20% | | | 12:30 | USD | PPI Core Y/Y Mar | | 2.60% | 2.50% | | | 14:00 | USD | Wholesale Inventories M/M Feb F | | 0.60% | 1.10% | | | | |
