Action Insight Mid-Day Report 4-27-18
| Action Insight Mid-Day Report 4-27-18 | | Dollar Rally Exhausted after Multiple Boosts this Week, Sterling and Euro Tumbled on GDP Misses | Dollar's rally seem to be a bit exhausted in early US session. After all, the greenback was lifted firstly by yield earlier this week, then by ECB yesterday. Additional buying jumped in after French GDP miss and than UK GDP miss in European session. Hence, even though the greenback is picking up its rally against Euro and Sterling after stronger than expected US GDP, the movement is limited. Dollar is also stuck in tight range against Yen, Aussie and Loonie. |  | 
|  | GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.3872; (P) 1.3934; (R1) 1.3975; More... GBP/USD's decline from 1.4376 resumed after brief consolidation and accelerated to as low as 1.3746 so far. Intraday bias remains on the downside for 1.3711 key support level. Decisive break there should confirm medium term reversal and target 1.3448 fibonacci level. On the upside, above 1.3895 will turn intraday bias neutral and bring consolidations first, before staging another fall. | | | GMT | Ccy | Events | Actual | Forecast | Previous | Revised | | 22:45 | NZD | Trade Balance Mar | -86M | 200M | 217M | 172M | | 23:01 | GBP | GfK Consumer Confidence Apr | -9 | -7 | -7 | | | 23:30 | JPY | Jobless Rate Mar | 2.50% | 2.50% | 2.50% | | | 23:30 | JPY | Tokyo CPI Core Y/Y Apr | 0.60% | 0.80% | 0.80% | | | 23:50 | JPY | Retail Trade Y/Y Mar | 1.00% | 1.50% | 1.60% | 1.70% | | 23:50 | JPY | Industrial Production M/M Mar P | 1.20% | 0.50% | 2.00% | | | 01:30 | AUD | PPI Q/Q Q1 | 0.50% | 0.40% | 0.60% | | | 01:30 | AUD | PPI Y/Y Q1 | 1.70% | 1.20% | 1.70% | | | 03:05 | JPY | BoJ Rate Decision | -0.10% | -0.10% | -0.10% | | | 05:00 | JPY | Housing Starts Y/Y Mar | -8.30% | -4.80% | -2.60% | | | 05:30 | EUR | French GDP Q/Q Q1 A | 0.30% | 0.40% | 0.70% | | | 06:00 | EUR | German Import Price Index M/M Mar | 0.00% | 0.10% | -0.60% | | | 07:55 | EUR | German Unemployment Change Apr | -7K | -15K | -19K | -18K | | 07:55 | EUR | German Unemployment Claims Rate Apr | 5.30% | 5.30% | 5.30% | | | 08:30 | GBP | Index of Services 3M/3M Feb | 0.40% | 0.60% | 0.60% | | | 08:30 | GBP | GDP Q/Q Q1 A | 0.10% | 0.30% | 0.40% | | | 09:00 | EUR | Eurozone Economic Confidence Apr | 112.7 | 112 | 112.6 | 112.7 | | 09:00 | EUR | Eurozone Business Climate Indicator Apr | 1.35 | 1.28 | 1.34 | 1.44 | | 09:00 | EUR | Eurozone Industrial Confidence Apr | 7 | 5.8 | 6.4 | 7 | | 09:00 | EUR | Eurozone Services Confidence Apr | 14.9 | 15.9 | 16.3 | 15.9 | | 09:00 | EUR | Eurozone Consumer Confidence Apr F | 0.4 | 0.4 | 0.4 | | | 12:30 | USD | GDP Annualized Q/Q Q1 A | 2.30% | 2.00% | 2.90% | | | 12:30 | USD | GDP Price Index Q1 A | 2.00% | 2.20% | 2.30% | | | 12:30 | USD | Employment Cost Index Q1 | 0.80% | 0.70% | 0.60% | | | 14:00 | USD | U. of Mich. Sentiment Apr F | | 98 | 97.8 | | | | |
