Action Insight Daily Report 4-16-18
Dollar Weak after Mixed Data, Sterling Shines

Dollar remains general weak in early US session after mixed economic data, in particular against European majors. The greenback does try to rebound against Australian Dollar and Canadian Dollar. But momentum is being capped. Yen also tried to rebound earlier today but quickly lost steam. Sterling is emerging as the strongest on today, without any special reason. Traders could be jumping the gun ahead of a string of important UK data, including CPI and employment, including wage growth, to be featured later in the week. These data would be important by BoE policymakers to decide whether to hike again in May.

Full Report Here

 

Quick Comments

Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

Singaporean Central Bank Turns Hawkish on Upward Core Inflation Pressure
Traders Mixed on Oil as Prices Soared to Fresh 4-Year Highs
Yen and Franc Ended as the Weakest Ones as Risk Aversion...
Central Bank Views | China Watch | Oil N' Gold | Special Topics

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.4205; (P) 1.4250; (R1) 1.4281; More....

GBP/USD rises to as high as 1.4326 so far today. Intraday bias remains on the upside for 1.4345 high. Firm break there will resume medium term rally and target 61.8% projection of 1.3038 to 1.4345 from 1.3711 at 1.4519 next. On the downside, below 1.4236 minor support will turn intraday bias neutral again. But retreat should be contained well above 1.3964 support to bring another rally.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

US: Retail Sales Continue Soft Performance in February on Delayed Tax Returns

CADJPY Maintains Bullish Bias after Rebound on 80.50

Pound In Bullish Mode Despite Syria Strikes, US Retail Sales Pending

Dollar Downside Risks Remain After Syria Airstrikes

Forex Analysis: USDCAD And EURGBP

EURUSD Creates Symmetrical Triangle, Looking Neutral

Gold In Neutral Bias Again After It Recorded 11-Month High Of 1365.14

Risk Trades Supported As Geopolitical Concerns Fade, US Retail Sales In The Spotlight

Investors Unmoved By Syria Attack

Currencies: (Geo)Political Tensions Still Prevent Further USD Gains

Fundamental Analysis | Technical Analysis
In-depth Reports
Is Trump Preparing for a Round of Trade Escalation - Again?
Could Tariffs Gum Up Industry Supply Chains?
Encouraging Signs In The US-China Trade Conflict
How Costly Would a Full-Blown Trade War Be?
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
23:01 GBP Rightmove House Prices M/M Apr 0.40% 1.50%
06:00 EUR German WPI M/M Mar 0.00% 0.40% -0.30%
07:15 CHF Producer & Import Prices M/M Mar -0.20% 0.40% 0.30%
07:15 CHF Producer & Import Prices Y/Y Mar 2.00% 2.60% 2.30%
12:30 USD Empire State Manufacturing Index Apr 15.8 18.6 22.5
12:30 USD Retail Sales Advance M/M Mar 0.60% 0.40% -0.10%
12:30 USD Retail Sales Ex Auto M/M Mar 0.20% 0.20% 0.20%
14:00 USD Business Inventories Feb 0.60% 0.60%
14:00 USD NAHB Housing Market Index Apr 70 70
20:00 USD Net Long-term TIC Flows Feb 62.1B
Action Forex Company Limited, Room 804, 8/F., Prosperity Centre, 982 Canton Road, Mongkok, Kowloon 852 Hong Kong
Sent by contact@actionforex.com in collaboration with
Constant Contact