Action Insight Mid-Day Report 4-17-18
| Action Insight Mid-Day Report 4-17-18 | | Sterling and Euro Reverse Gains after Disappointing Data, Dollar Rebounds Broadly | Sterling and Euro strengthened earlier today but both reversed earlier gains after disappointing economic data. On the other hand, Dollar is trying to make a come back as buying accelerates in early US session. It's more a coincidence than a response. But the greenback picks up momentum after US Treasury Secretary Steven Mnuchin repeated President Donald Trump's tweet regarding Russia and China devaluation. The reversal in fortune in European majors today now put USD/CHF into the spotlight. 0.9648 in USD/CHF will be a focus for the rest of the day. |  | 
|  | USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9571; (P) 0.9604; (R1) 0.9631; More... Dollar's strong rebound today now put 0.9648 resistance in focus. Decisive break there and sustained trading above 0.9626 key fibonacci level will add to the case of larger reversal. In that case, rise from 0.9186 will target next fibonacci level at 0.9900. On the downside, again, break of 0.9533 minor support should indicate rejection by 0.9626 key fibonacci resistance. Intraday bias would then be turned to the downside side for 0.9432 support. Further break there will turn near term outlook bearish for retesting 0.9186 low. | | | 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% | | | | |
