Action Insight Daily Report 5-1-18
| Action Insight Daily Report 5-1-18 | | Australian Dollar Steady after RBA Stands Pat, UK PMI Manufacturing to Watch | Australian dollar is steady after RBA left cash rate unchanged at 1.50% as widely expected. Governor Philip Lowe continued to be confident on the economy. He noted in the accompanying statement that "the bank's central forecast for the Australian economy remains for growth to pick up, to average a bit above 3 percent in 2018 and 2019." RBA forecasts growth to be "a bit above 3%" in both 2018 and 2019. |  | AUD/USD Daily Outlook Daily Pivots: (S1) 0.7508; (P) 0.7545; (R1) 0.7566; More... AUD/USD dips lower to 0.7524 as recent fall resumes. Intraday bias is back on the downside with focus on 0.7500 key support level. Decisive break there will indicate medium term reversal and target next support at 0.7328. On the upside, above 0.7583 minor resistance will suggest short term bottoming. In that case, stronger rebound would be seen back to 0.7642 support turned resistance. |  | | GMT | Ccy | Events | Actual | Forecast | Previous | Revised | | 22:45 | NZD | Building Permits M/M Mar | 14.70% | | 5.70% | 6.40% | | 0:30 | JPY | PMI Manufacturing Apr F | 53.8 | 53.3 | 53.3 | | | 4:30 | AUD | RBA Rate Decision | 1.50% | 1.50% | 1.50% | | | 8:30 | GBP | Mortgage Approvals Mar | | 63.0K | 63.9K | | | 8:30 | GBP | Money Supply M4 M/M Mar | | 0.20% | -0.30% | | | 8:30 | GBP | PMI Manufacturing Apr | | 54.8 | 55.1 | | | 12:30 | CAD | GDP M/M Feb | | 0.30% | -0.10% | | | 13:30 | CAD | RBC Manufacturing PMI Apr | | | 55.7 | | | 13:45 | USD | Manufacturing PMI Apr F | | 56.5 | 56.5 | | | 14:00 | USD | Construction Spending M/M Mar | | 0.50% | 0.10% | | | 14:00 | USD | ISM Manufacturing Apr | | 58.5 | 59.3 | | | 14:00 | USD | ISM Prices Paid Apr | | 76.8 | 78.1 | | | | |
