Action Insight Daily Report 4-11-18

Action Insight Daily Report 4-11-18 Dollar Stays Weak as Focus Turns to US CPI and FOMC Minutes In the currency markets, Canadian Dollar, Australian Dollar and New Zealand Dollar remain the strongest one for the week even though they are paring some gains in Asian session. Canadian Dollar outshines the others with the help of surge in oil prices. Dollar and Yen remain the weakest two for the week. For today, focus will now turn to UK production data in European session first. US CPI and FOMC minutes will take center stage later in the day. Full Report Here   Oil Price Jumped to 4 Years' High before Profit-taking UK CBI: Don't diverge from EU rules after Brexit China PBoC Yi outlines specifics on opening financial market access at... Oil price surges as Syria decision imminent DOW, S&P 500, NASDAQ not out of the woods yet despite... CADJPY, AUDJPY, NZDJPY, which is our preferred choice to go long? Quick Comments Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol China Xi Jinping in Boao Forum: Reinforces Ease of Restrictions for... USD Dominance Stays Despite Twin Deficits and Threats to Sell Treasury Traders Turned Bearish on Both Oil and Gold Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CAD Daily Outlook Daily Pivots: (S1) 1.2554; (P) 1.2631; (R1) 1.2674; More.... USD/CAD's decline from 1.3124 accelerated to as low as 1.2587 so far, just ahead of 61.8% retracement of 1.2246 to 1.3124 at 1.2581. Intraday bias remains on the downside for deeper decline. The corrective rise from 1.2061 should have completed with three waves up to 1.3124. Break of 1.2581 will pave the way back to 1.2061/2246 support zone. On the upside, above 1.2687 minor resistance will turn intraday bias neutral first. But near term outlook will remain bearish as long as 1.2814 support turned resistance holds. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Gold Price Remains Supported Above $1,328 EUR/USD In Focus Ahead Of CPI, Fed/ECB Minutes AUDNZD Forming A Long Term Ascending Triangle Xi Is Music To The Markets Ears Dollar Weaker As Trade Tensions Ease Ahead Of Inflation Data US Inflation Data & Fed Minutes in the Limelight UK Trade and Production Data Eyed as Pound Approaches $1.42 Fundamental Analysis | Technical Analysis In-depth Reports Encouraging Signs In The US-China Trade Conflict How Costly Would a Full-Blown Trade War Be? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:50 JPY Machine Orders M/M Feb 2.10% -2.50% 8.20% 23:50 JPY Domestic CGPI Y/Y Mar 2.10% 2.00% 2.50% 0:30 AUD Westpac Consumer Confidence Apr -0.60% 0.20% 1:30 CNY CPI Y/Y Mar 2.10% 2.60% 2.90% 1:30 CNY PPI Y/Y Mar 3.10% 3.30% 3.70% 8:30 GBP Visible Trade Balance (GBP) Feb -11.9B -12.3B 8:30 GBP Industrial Production M/M Feb 0.40% 1.30% 8:30 GBP Industrial Production Y/Y Feb 2.90% 1.60% 8:30 GBP Manufacturing Production M/M Feb 0.20% 0.10% 8:30 GBP Manufacturing Production Y/Y Feb 3.30% 2.70% 8:30 GBP Construction Output M/M Feb 0.70% -3.40% 11:00 GBP NIESR GDP Estimate Mar 0.30% 0.30% 12:30 USD CPI M/M Mar 0.00% 0.20% 12:30 USD CPI Y/Y Mar 2.40% 2.20% 12:30 USD CPI Core M/M Mar 0.20% 0.20% 12:30 USD CPI Core Y/Y Mar 2.10% 1.80% 14:30 USD Crude Oil Inventories -4.6M 18:00 USD Monthly Budget Statement Mar -175.0B -215.2B 18:00 USD FOMC Meeting Minutes

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