Action Insight Daily Report 4-17-18
| Action Insight Daily Report 4-17-18 | | Sterling Firm as Markets Look into UK Unemployment Rate and Wage Growth, Aussie Lower after RBA Minutes | Sterling retreats mildly in Asian session today, against Dollar, Euro and Yen. But it remains the strongest one for the week. The breach of 1.4345 resistance in GBP/USD overnight signals medium term up trend resumption. But the rally slowed a little bit above there. For now, GBP/JPY is limited below last week's high at 133.83 while EUR/GBP is held by equivalent level at 0.8627. Traders are awaiting UK employment data today and CPI tomorrow, which would be important to determine BoE's rate path this year. |  | GBP/USD Daily Outlook Daily Pivots: (S1) 1.4261; (P) 1.4302; (R1) 1.4379; More.... GBP/USD's rally continues to as high as 1.4353 so far and breach of 1.4345 indicates resumption of medium term up trend. Intraday bias stays on the upside for 61.8% projection of 1.3038 to 1.4345 from 1.3711 at 1.4519 next. On the downside, below 1.4236 minor support will turn intraday bias neutral again. But retreat should be contained well above 1.3964 support to bring another rally. |  | | GMT | Ccy | Events | Actual | Forecast | Previous | Revised | | 1:30 | AUD | RBA April Meeting Minutes | | | | | | 2:00 | CNY | GDP Y/Y Q1 | 6.80% | 6.80% | 6.80% | | | 2:00 | CNY | Retail Sales YTD Y/Y Mar | 10.10% | 9.70% | 9.70% | | | 2:00 | CNY | Industrial Production YTD Y/Y Mar | 6.00% | 6.90% | 7.20% | | | 2:00 | CNY | Fixed Assets Ex Rural YTD Y/Y Mar | 7.50% | 7.70% | 7.90% | | | 4:30 | JPY | Industrial Production M/M Feb F | | 4.00% | 4.10% | | | 8:30 | GBP | Jobless Claims Change Mar | | | 9.2k | | | 8:30 | GBP | ILO Unemployment Rate 3Mths Feb | | 4.30% | 4.30% | | | 8:30 | GBP | Average Weekly Earnings 3M/Y Feb | | 3.00% | 2.80% | | | 9:00 | EUR | German ZEW Economic Sentiment Apr | | 88 | 90.7 | | | 9:00 | EUR | German ZEW Expectations Apr | | -1 | 5.1 | | | 9:00 | EUR | Eurozone ZEW Economic Sentiment Apr | | 7.3 | 13.4 | | | 12:30 | CAD | International Securities Transactions (CAD) Feb | | | 5.68B | | | 12:30 | CAD | Manufacturing Sales M/M Feb | | 1.00% | -1.00% | | | 12:30 | USD | Housing Starts Mar | | 1.27M | 1.24M | | | 12:30 | USD | Building Permits Mar | | 1.33M | 1.30M | | | 13:15 | USD | Industrial Production M/M Mar | | 0.40% | 1.10% | | | 13:15 | USD | Capacity Utilization Mar | | 77.90% | 78.10% | | | | |
