Action Insight Mid-Day Report 4-9-18
| Action Insight Mid-Day Report 4-9-18 | | Sterling Surges Broadly, Taking Europeans Higher; Dollar Seller Emerges into US Session | Sterling surges broadly today and is so far trading as the strongest one. Some point to solid housing data as a trigger for the buying. Mortgage lender Halifax house price rose more than expected by 2.7% in Q1. And that should be something welcomed by BoE hawks on their push for May rate hike. Nonetheless, to us, the Pound's rally today and more technical than fundamental. |  | GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.4011; (P) 1.4058; (R1) 1.4134; More.... GBP/USD's rally from 1.3964 continues today and reaches as high as 1.4139 so far. Intraday bias remains on the upside for 1.4243 resistance first. Break will target a test on 1.4345 high next. On the downside, below 1.4075 minor support will turn intraday bias neutral first. But outlook will stay cautiously bullish as long as 1.3964 support holds. |  | | GMT | Ccy | Events | Actual | Forecast | Previous | Revised | | 22:30 | AUD | AiG Performance of Construction Index Mar | 57.2 | | 56 | | | 23:50 | JPY | Current Account (JPY) Feb | 1.02T | 1.39T | 2.02T | | | 05:00 | JPY | Consumer Confidence Mar | 44.3 | 44.5 | 44.3 | | | 05:45 | CHF | Unemployment Rate Mar | 2.90% | 2.90% | 2.90% | | | 06:00 | EUR | German Trade Balance Feb | 19.2B | 23.1B | 21.3B | | | 08:30 | EUR | Eurozone Sentix Investor Confidence Apr | 19.6 | 20.8 | 24 | | | 14:30 | CAD | BoC Overall Business Outlook Survey Q1 | | | | | | | |
