Action Insight Mid-Day Report 4-25-18
| Action Insight Mid-Day Report 4-25-18 | | Dollar Surges as 10 Year Yield is Having Another Take on 3% | Dollar jumps again today as 10 year yield is having another attempt at 3% handle today. The greenback is trading above yesterday's high against all major currencies except Sterling. And for now, Yen is actually not the weakest one. Instead, commodity currencies and Swiss Franc are the worst performers. EUR/CHF had another attempt on 1.2 handle earlier today, but thanks to Euro's weakness, this historical level is still intact. Developments in yield will be the main driver in the markets with a near empty economic calendar in the US session. |  | EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.2194; (P) 1.2220 (R1) 1.2258; More.... EUR/USD's fall resumes after brief consolidation and intraday bias is turned to the downside for 1.2154 key support. Decisive break there should confirm the bearish case of medium term reversal. And EUR/USD should then target 161.8% projection of 1.2475 to 1.2214 from 1.2413 at 1.1991. On the upside, though, break of 1.2244 minor resistance will indicate short term bottoming. And even though we'd still expect deeper decline in that case, lengthier consolidation would be seen first. |  | | GMT | Ccy | Events | Actual | Forecast | Previous | Revised | | 4:30 | JPY | All Industry Activity Index M/M Feb | 0.40% | 0.50% | -1.80% | -1.10% | | 14:30 | USD | Crude Oil Inventories | | | -1.1M | | | | |
