Action Insight Mid-Day Report 4-12-18
| Action Insight Mid-Day Report 4-12-18 | | Euro Tumbles after ECB Minutes, Dollar and Stocks Love Trump's Uncertain Timing on Missile Strike | The financial markets don't always hate uncertainties. Sometimes, they embrace it. US President Donald Trump backed down from his initial tough stance on Syria, and it's now unsure when he will order firing of missiles over it. European equities cheered the newly created uncertainty with DAX turning initial loss into gain and is currently trading up 0.55%. CAC is up 0.23% while FTSE is flat. US futures now also point to higher open. In the currency markets, Dollar welcomed Trump's tweet and surges against Euro, Swiss Franc and Yen. |  | 
|  | USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9555; (P) 0.9576; (R1) 0.9596; More... USD/CHF rebounds strongly today and focus is back on 0.9648 resistance. Break there will firstly resume whole rebound from 0.9186. Secondly, sustained trading above 0.9626 key fibonacci resistance will will be another evidence of larger reversal. In that case, further rally should be seen back to next fibonacci level at 0.9900. On the downside, though, break of 0.9533 minor support should be another indication of rejection by 0.9626. Further break of 0.9432 will turn near term outlook bearish for retesting 0.9186 low. | | | GMT | Ccy | Events | Actual | Forecast | Previous | Revised | | 23:01 | GBP | RICS House Price Balance Mar | 0% | 2% | 0% | | | 23:50 | JPY | Japan Money Stock M2+CD Y/Y Mar | 3.20% | 3.20% | 3.30% | | | 01:00 | AUD | Consumer Inflation Expectation Apr | 3.60% | | 3.70% | | | 01:30 | AUD | Home Loans M/M Feb | -0.20% | -0.40% | -1.10% | | | 09:00 | EUR | Eurozone Industrial Production M/M Feb | -0.80% | 0.10% | -1.00% | | | 11:30 | EUR | ECB Monetary Policy Meeting Accounts | | | | | | 12:30 | CAD | New Housing Price Index M/M Feb | -0.20% | | 0.00% | | | 12:30 | USD | Import Price Index M/M Mar | 0.00% | 0.10% | 0.40% | 0.30% | | 12:30 | USD | Initial Jobless Claims (Apr 7) | 233K | 230K | 242K | | | 14:30 | USD | Natural Gas Storage | | -11B | -29B | | | | |
