Action Insight Daily Report 5-2-18
| Action Insight Daily Report 5-2-18 | | Dollar Firm as FOMC Awaited, Euro and Sterling Shaky ahead of GDP and PMI | After yesterday's strong rally, Dollar retreats mildly today as markets await FOMC decision. For the week, the greenback remains the strongest one. Canadian Dollar follows as the second strongest, riding on better than expected GDP data. Sterling, on the other hand, is trading as the weakest one, as weighed down by disappointing PMI manufacturing. More tests are lining up there for the Pound with today's PMI construction and tomorrow's PMI services. New Zealand dollar is the second weakest for the week despite position employment data released today. |  | EUR/USD Daily Outlook Daily Pivots: (S1) 1.1953; (P) 1.2018 (R1) 1.2056; More.... EUR/USD's fall is still in progress and is pressing 161.8% projection of 1.2475 to 1.2214 from 1.2413 at 1.1991. Intraday bias remains on the downside and firm break of 1.1991 will target 200% projection at 1.1891 next. On the upside, above 1.2054 minor resistance will indicate temporary bottoming and turn bias neutral for consolidations. But upside of recovery should be limited well below 1.2214 support turned resistance to bring another decline. |  | | GMT | Ccy | Events | Actual | Forecast | Previous | Revised | | 22:45 | NZD | Unemployment Rate Q1 | 4.40% | 4.50% | 4.50% | | | 22:45 | NZD | Employment Change Q/Q Q1 | 0.60% | 0.60% | 0.50% | 0.40% | | 23:01 | GBP | BRC Shop Price Index Y/Y Apr | -1.00% | | -1.00% | | | 23:50 | JPY | Monetary Base Y/Y Apr | 7.80% | 9.20% | 9.10% | | | 1:45 | CNY | Caixin PMI Manufacturing Apr | 52.5 | 50.9 | 51 | | | 5:00 | JPY | Consumer Confidence Apr | 43.6 | 44.5 | 44.3 | | | 5:45 | CHF | SECO Consumer Confidence Apr | 2 | 4 | 5 | | | 7:15 | CHF | Retail Sales Real Y/Y Mar | | 0.30% | -0.20% | | | 7:30 | CHF | PMI Manufacturing Apr | | 59.8 | 60.3 | | | 7:45 | EUR | Italy Manufacturing PMI Apr | | 54.5 | 55.1 | | | 7:50 | EUR | France Manufacturing PMI Apr F | | 53.4 | 53.4 | | | 7:55 | EUR | Germany Manufacturing PMI Apr F | | 58.1 | 58.1 | | | 8:00 | EUR | Eurozone Manufacturing PMI Apr F | | 56 | 56 | | | 8:30 | GBP | Construction PMI Apr | | 50.5 | 47 | | | 9:00 | EUR | Eurozone Unemployment Rate Mar | | 8.50% | 8.50% | | | 9:00 | EUR | Eurozone GDP Q/Q Q1 A | | 0.40% | 0.60% | | | 9:00 | EUR | Italian GDP Q/Q Q1 P | | 0.30% | 0.30% | | | 12:15 | USD | ADP Employment Change Apr | | 200K | 241K | | | 14:30 | USD | Crude Oil Inventories | | | 2.2M | | | 18:00 | USD | FOMC Rate Decision | | 1.75% | 1.75% | | | | |
