Action Insight Daily Report 4-30-21

Yen Dives as Global Yields Surge, Dollar Recovers Mildly after Data

Action Insight Daily Report 4-30-21 Asian Markets in Mild Risk-Off Mode Despite Japan and China Data The financial markets are trading with a mild risk-off tone in Asia today, despite the resilience in US overnight. Solid economic data from Japan and China provided little support to sentiment. The region is generally in deep worry over record coronavirus infections in India. As for the currency markets, Yen and Dollar are set to end the weak as the worst performing ones, while Canadian and New Zealand Dollars would be the strongest. Technically, Australian Dollar is clearly lagging behind other commodity currencies. Yet, it's holding firm in range against both Dollar and Euro. A focus before weekly close is whether AUD/USD could break through 0.7815 resistance to resume the rebound from 0.7530, to catch up with the others. In Asia, at the time of writing, Nikkei is down -0.99%. Hong Kong HSI is down -1.80%. China Shanghai SSE is down -1.22%. Singapore Strait Times is up 0.16%. Japan 10-year JGB yield is down -0.0048 at 0.090. Overnight, DOW rose 0.71%. S&P 500 rose 0.68%. NASDAQ rose 0.22%. 10-year yield rose 0.020 to 1.640, after hitting as high as 1.688. Full Report Here China Caixin PMI manufacturing rose to 51.9, price pressures to limit... Japan industrial production rose 2.2% in Mar, PMI manufacturing finalized at... ECB Lane: Economy will grow in May, June, more strongly in... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol Fed Refrained from Giving Any Hint about QE Tapering US Crude Inventory Increased, but Less than Expected CFTC Commitments of Traders - Net Length of CAD Futures Jumped Over 6 Times on Hawkish BOC Central Bank Views | China Watch | Oil N' Gold | Special Topics USD/CHF Daily Outlook Daily Pivots: (S1) 0.9073; (P) 0.9096; (R1) 0.9113; More.... USD/CHF's fall from 0.9471 is still in progress. Intraday bias stays on the downside for 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Sustained break there will pave the way to retest 0.8756 low. On the upside, break of 0.9180 minor resistance will indicate short term bottoming and bring stronger rebound. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Elliott Wave View: Ten Year Notes Declines In 5 Waves USD/JPY Starts Fresh Increase, US GDP Grows 6.4% Market Morning Briefing: Pound Has Been Rising Slowly Q1 GDP Surges, But that's Old news. Where to Now? Weekly Focus – Central Banks Remain in Wait-and-See Mode Fundamental Analysis | Technical Analysis In-depth Reports Fed Refrained from Giving Any Hint about QE Tapering April FOMC: A Subtle Change In Tune Research Germany: End of the "Era Merkel' Leaves German Politics in Unchartered Territory BOJ Downgrades Inflation Forecasts Significantly as It Struggles with Limited Tools A Panoramic View of the US Economy and Dollar in 10 Charts Flash: ECB Review: Not a 'Significant' Meeting Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:30 JPY Tokyo CPI Core Y/Y Apr 0.00% 0.30% 0.30% 23:30 JPY Unemployment Rate Mar 2.60% 2.90% 2.90% 23:50 JPY Industrial Production M/M Mar P 2.20% -2.00% -1.30% 0:30 JPY Jibun Bank Manufacturing PMI Apr F 53.6 53.3 53.3 1:00 CNY NBS Manufacturing PMI Apr 51.1 51.4 51.9 1:00 CNY Non-Manufacturing PMI Apr 54.9 52.6 56.3 1:30 AUD Private Sector Credit M/M Mar 0.40% 0.10% 0.20% 1:30 AUD PPI Q/Q Q1 0.40% 0.30% 0.50% 1:30 AUD PPI Y/Y Q1 0.20% 0.80% -0.10% 5:00 JPY Housing Starts Y/Y Mar 1.50% -7.40% -3.70% 5:00 JPY Consumer Confidence Index Apr 34.7 34 36.1 5:30 EUR France GDP Q/Q Q1 P 0.00% -1.40% 6:00 EUR Germany Import Price Index M/M Mar 1.00% 1.70% 6:00 EUR Germany GDP Q/Q Q1 P -1.50% 0.30% 6:30 CHF Real Retail Sales Y/Y Mar -5.40% -6.30% 7:00 CHF KOF Leading Indicator Apr 119.8 117.8 8:00 EUR Italy GDP Q/Q Q1 P -0.40% -1.90% 9:00 EUR Eurozone GDP Q/Q Q1 P -0.80% -0.70% 12:30 CAD Raw Material Price Index Mar 6.60% 12:30 CAD Industrial Product Price M/M Mar 2.60% 12:30 CAD GDP M/M Feb 0.70% 12:30 USD Personal Spending M/M Mar 3.80% -1.00% 12:30 USD Personal Income M/M Mar 20.00% -7.10% 12:30 USD PCE Price Index M/M Mar 0.20% 12:30 USD PCE Price Index Y/Y Mar 1.60% 12:30 USD Core PCE Price Index M/M Mar 0.10% 12:30 USD Core PCE Price Index Y/Y Mar 1.40% 12:30 USD Employment Cost Index Q1 0.80% 0.70% 13:45 USD Chicago PMI Apr 64.6 66.3 14:00 USD Michigan Consumer Sentiment Index Apr F 86.5 86.5

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