Action Insight Mid-Day Report 4-16-18
| Action Insight Daily Report 4-16-18 | | Dollar Weak after Mixed Data, Sterling Shines | Dollar remains general weak in early US session after mixed economic data, in particular against European majors. The greenback does try to rebound against Australian Dollar and Canadian Dollar. But momentum is being capped. Yen also tried to rebound earlier today but quickly lost steam. Sterling is emerging as the strongest on today, without any special reason. Traders could be jumping the gun ahead of a string of important UK data, including CPI and employment, including wage growth, to be featured later in the week. These data would be important by BoE policymakers to decide whether to hike again in May. |  | GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.4205; (P) 1.4250; (R1) 1.4281; More.... GBP/USD rises to as high as 1.4326 so far today. Intraday bias remains on the upside for 1.4345 high. Firm break there will resume medium term rally and target 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 | | 23:01 | GBP | Rightmove House Prices M/M Apr | 0.40% | | 1.50% | | | 06:00 | EUR | German WPI M/M Mar | 0.00% | 0.40% | -0.30% | | | 07:15 | CHF | Producer & Import Prices M/M Mar | -0.20% | 0.40% | 0.30% | | | 07:15 | CHF | Producer & Import Prices Y/Y Mar | 2.00% | 2.60% | 2.30% | | | 12:30 | USD | Empire State Manufacturing Index Apr | 15.8 | 18.6 | 22.5 | | | 12:30 | USD | Retail Sales Advance M/M Mar | 0.60% | 0.40% | -0.10% | | | 12:30 | USD | Retail Sales Ex Auto M/M Mar | 0.20% | 0.20% | 0.20% | | | 14:00 | USD | Business Inventories Feb | | 0.60% | 0.60% | | | 14:00 | USD | NAHB Housing Market Index Apr | | 70 | 70 | | | 20:00 | USD | Net Long-term TIC Flows Feb | | | 62.1B | | | | |
