Action Insight Mid-Day Report 4-28-21

Dollar Staying in Consolidations With Bearish Outlook, FOMC Next

Action Insight Mid-Day Report 4-28-21 Dollar Staying in Consolidations With Bearish Outlook, FOMC Next The financial markets are generally steady today as traders are holding their bet ahead of FOMC announcement. US President Joe Biden is set to unveil a USD 1.8T package for family and education, but that's unlikely to trigger much reaction. New Zealand Dollar and Canadian Dollar are currently the strongest ones for today, followed by Dollar. Australian Dollar remains the worst performing one after post CPI sell-off. Sterling is also weak together with Yen. Technically, we're staying near term bearish on Dollar, except versus Yen. This view will hold as long as 1.1992 minor support in EUR/USD, 0.7676 minor support in EUR/USD, 0.9121 minor resistance in USD/CHF and 1.2470 minor resistance in USD/CAD holds. Also, there is also prospect for Gold to rebound from current level to resume the rise from 1676.65 through 1797.71. However, Firm break of 1763.36 will be taken as an early indication of a stronger Dollar rebound. In Europe, at the time of writing, FTSE is up 0.38%. DAX is up 0.42%. CAC is up 0.63%. Germany 10-year yield is up 0.018 at -0.227. Earlier in Asia, Nikkei rose 0.21%. Hong Kong HSI rose 0.45%. China Shanghai SSE rose 0.42%. Singapore Strait Times rose 0.16%. Japan 10-year JGB yield rose 0.0098 to 0.095. Full Report Here US goods trade deficit widened to USD 90.6B in March Canada retail sales rose 4.8% mom in Feb, up in 9... German Gfk consumer sentiment dropped to -8.8, consumption not a pillar... FOMC to emphasize substantial actual progress before tapering Aussie drops after CPI miss, AUD/CAD heading to 0.9488 support first Australia CPI rose 0.6% qoq in Q1, missed expectations Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol FOMC Preview - Fed to Deliver Upbeat Message about Economy while Affirming Substantial Progress is Needed to Taper QE CFTC Commitments of Traders - Traders Bet Crude Oil Prices to Go Higher 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 EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.2068; (P) 1.2080; (R1) 1.2103; More.... EUR/USD is staying in consolidation from 1.2116 temporary top and intraday bias remains neutral first. Further rise is expected with 1.1992 support intact. Break of 1.2116 will resume the rise from 1.1703 for retesting 1.2242/2348 resistance zone. On the downside, though, break of 1.1992, will turn bias to the downside for deeper pull back. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings US Open: Earnings, Fed & Biden in Focus FOMC, Biden In The Rpicenter Of Attention USDJPY Regains Footing And Tussles 109.00 Handle Yields Jump Ahead Of Fed Decision, Biden Also In The Spotlight FOMC and Earnings Dominate Agenda GBP/USD Pair Broke The 1.3900 Support Level And Is Showing Bearish Signs NZDUSD Bulls Lose Energy As Key Barriers Arise EURGBP Crawls Towards 0.8700, Clinging To A Hike Two Trades To Watch: EUR/USD, Gold Wild, Wobbly Or Whimpering Wednesday? Gold Eases In Ichimoku Cloud, Broader Outlook Is Bullish Fundamental Analysis | Technical Analysis In-depth Reports 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 April Flashlight for the FOMC Blackout Period: Rapidly Strengthening Data, but Is It "Substantial"? FX 2nd Quarter Outlook: DXY, EUR/USD, GBP/USD, USD/JPY, EUR/GBP Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 23:01 GBP BRC Shop Price Index Y/Y Mar -1.30% -2.40% 23:50 JPY Retail Trade Y/Y Mar 5.20% 4.70% -1.50% 01:30 AUD CPI Q/Q Q1 0.60% 0.90% 0.90% 01:30 AUD CPI Y/Y Q1 1.10% 1.40% 0.90% 01:30 AUD RBA Trimmed Mean CPI Q/Q Q1 0.30% 0.50% 0.40% 01:30 AUD RBA Trimmed Mean CPI Y/Y Q1 1.10% 1.20% 1.20% 06:00 EUR Germany Gfk Consumer Confidence May -8.8 -6.2 08:00 CHF Credit Suisse Economic Expectations Apr 68.3 66.7 12:30 CAD Retail Sales M/M Feb 4.80% 4.00% -1.10% 0.00% 12:30 CAD Retail Sales ex Autos M/M Feb 4.80% 3.50% -1.20% -0.10% 12:30 USD Goods Trade Balance (USD) Mar P -90.6B -87.5B -86.7B -87.1B 12:30 USD Wholesale Inventories Mar P 1.40% 0.10% 0.60% 14:30 USD Crude Oil Inventories -0.9M 0.6M 18:00 USD Fed Rate Decision 0.25% 0.25% 18:30 USD FOMC Press Conference

Action Forex Company Limited | Room 804, 8/F. , Prosperity Centre, 982 Canton Road, Mongkok, Kowloon 852 Hong Kong SAR China Unsubscribe mxginez31.forexmail@blogger.com Update Profile | Customer Contact Data Notice Sent by contact@actionforex.com powered by Try email marketing for free today!