Action Insight Mid-Day Report 4-10-18

Action Insight Mid-Day Report 4-10-18 Yen and Dollar Broadly Lower, Markets on Risk on Mode as Trade War Fear Temporarily Relieved Japan Yen and, to a slightly lesser extent, Dollar suffer broad based selloff today as global markets return to risk seeking mode. Major European indices are generally higher with DAX up near 1% at the time of writing. CAC is up 0.55% and FTSE is up 0.6%. That followed 0.54% rise in Nikkei earlier today. DOW opens up nearly 400 pts and is back above 24300 handle in initial trading. Generally speaking, investors are relieved that China President Xi Jinping's highly anticipated speech in Boao Forum for Asia didn't ended in escalation in trade tension with the US. Full Report Here   AUD & NZD strong on risk appetite, but EUR overtaking EURUSD powers through 1.2344 resistance heading into US session ECB Nowotny: It's time for gradual normalization as inflation pressure will... BoE hawk McCafferty: Don't dally when tightening modestly China offered to cut surplus to US by USD 50b?? Dallas Fed Kaplan: Trade rhetoric could have chilling effect Markets respond positively to China Xi Jinping's calm but uninspiring speech... 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 EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.2277; (P) 1.2303 (R1) 1.2347; More.... EUR/USD's strong rally today and break of 1.2344 resistance firstly indicates the fall from 1.2475 has completed at 1.2214 already. Secondly, it invalidated the bearish case of larger trend reversal. Instead, price actions from 1.2555 high could merely be developing into a sideway consolidation pattern. Intraday bias is back on the upside for 1.2475/2555 resistance zone. We'd be cautious on strong resistance from there to bring another fall to extend sideway trading. On the downside, below 1.2302 minor support will turn bias back to the downside for 1.2214 instead. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings NZDJPY in Sharp Bullish Move in Near Term; Bearish Tendency in Medium Term EURUSD: Strengthens, Extends Bull Pressure Pound Hits Two-Week Highs, European Stocks Gain As Risk-On Appetite Returns Xi Warms Up Global Equity Markets DAX Surges After Chinese President Offers Olive Branch Xi Speech Constructive, Positive For Risk Assets USD/JPY Fails To Break Key Hurdle After Xi Speech Underpinned Risk Assets WTI Crude Oil Futures In Strong Upside Movement After Rebound On 61.77 GER 30 Index Crosses Above 50-Day MA To Record 4-Week High, Challenges Ichimoku Cloud Bottom China Prices To Ease In March After Lunar New Year Distortion, Yuan Firmer Amid Trade Friction Encouraging Signs In The US-China Trade Conflict GBPUSD Holds In Trading Range, Bullish Bias Is Expected In Short Term Xi Jinping Provided Equity Bulls A Much-Needed Boost 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 23:01 GBP BRC Retail Sales Monitor Y/Y Mar 1.40% 0.60% 01:30 AUD NAB Business Conditions Mar 14 17 21 01:30 AUD NAB Business Confidence Mar 7 12 9 06:00 JPY Machine Tool Orders Y/Y Mar P 28.10% 39.50% 12:30 CAD Building Permits M/M Feb -2.60% 1.30% 5.60% 5.20% 12:30 USD PPI M/M Mar 0.30% 0.10% 0.20% 12:30 USD PPI Y/Y Mar 3.00% 2.90% 2.80% 12:30 USD PPI Core M/M Mar 0.30% 0.20% 0.20% 12:30 USD PPI Core Y/Y Mar 2.70% 2.60% 2.50% 14:00 USD Wholesale Inventories M/M Feb F 0.60% 1.10%

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