Action Insight Mid-Day Report 4-19-18
| Action Insight Mid-Day Report 4-19-18 | | Sterling and Canadian Dollar Recover Losses, Markets Lack Dominant Theme | The major theme in the forex markets isn't too clear today. Sterling dips initially after retail sales missed expectation, but quickly recovered. Canadian dollar also pare back some of the post BoC decline, as lifted by strength in oil price. Australian Dollar gained earlier today but there is no follow through buying. Dollar continues to trade mixed. In particular, EUR/USD and USD/JPY are gyrating in very tight range. EUR/JPY edged slightly higher, with very week momentum. The more exciting development today is EUR/CHF hits as high as 1.1998/9 (depending on which feed you're reading) but struggles to break through that historical 1.2 handle so far. |  | 
|  | GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.4145; (P) 1.4229; (R1) 1.4287; More... GBP/USD recovers ahead of 1.4144 minor support and intraday bias stays neutral. For now, price actions from 1.4376 are viewed as developing into a consolidation pattern, even though such pattern might take a while to complete. Further rise is still expected. On the upside, break of 1.4376 will confirm up trend resumption. In that case, GBP/USD would target 61.8% projection of 1.3038 to 1.4345 from 1.3711 at 1.4519. However, on the downside, firm break of 1.4144 will be an early sign of medium term topping and turn focus back to 1.3965 support. | | | GMT | Ccy | Events | Actual | Forecast | Previous | Revised | | 22:45 | NZD | CPI Q/Q Q1 | 0.50% | 0.50% | 0.10% | | | 22:45 | NZD | CPI Y/Y Q1 | 1.10% | 1.10% | 1.60% | | | 01:30 | AUD | Employment Change Mar | 4.9K | 20.3K | 17.5K | -6.3K | | 01:30 | AUD | Unemployment Rate Mar | 5.50% | 5.50% | 5.60% | 5.50% | | 01:30 | AUD | NAB Business Confidence Q1 | 7 | | 6 | 7 | | 08:00 | EUR | Eurozone Current Account (EUR) Feb | 35.1B | 32.3B | 37.6B | | | 08:30 | GBP | Retail Sales M/M Mar | -1.20% | -0.60% | 0.80% | | | 12:30 | CAD | ADP Payrolls Mar | 42.8K | | 32.7K | | | 12:30 | USD | Initial Jobless Claims (APR 14) | 232K | 230K | 233K | | | 12:30 | USD | Philadelphia Fed Business Outlook Apr | 23.2 | 21.2 | 22.3 | | | 14:00 | USD | Leading Index Mar | | 0.30% | 0.60% | | | 14:30 | USD | Natural Gas Storage | | -23B | -19B | | | | |
