Eur Usd Graph Daily report_ markets shrugged off weak china data, quietly in range – action forex cdn usd

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Eur Usd Graph Daily report_ markets shrugged off weak china data, quietly in range – action forex cdn usd

Daily Report: Markets Shrugged Off Weak China Data, Quietly in Range The financial markets are quite steady as another week starts.


Rmb To Usd Conversion China data released over the weekend were disappointing but reactions are muted. Binary To Text Conversion Industrial production rose 6.0% yoy in April versus expectation of 6.5% yoy and prior month’s 6.8% yoy. Retail sales rose 10.1% yoy versus expectation of 10.6% yoy and prior month’s 10.5% yoy. Numbers In Binary Fixed asset investment rose 10.5% yoy versus expectation of 11.0% yoy and prior month’s 10.7% yoy. The of April data together with trades were in sharp contrast to the upbeat data in March and added to doubts about China’s recovery. Nonetheless, the China SSE composite opened mildly lower and quickly pared losses and trading flat at the time of writing. In the currency markets, major pairs and crosses are generally staying in Friday’s range so far. Aussie is indeed recovering in spite of weak China data but strength is very limited. Sterling and other commodity currencies are also mildly higher. Meanwhile yen stays the weakest one as the impact of recent verbal intervention from Japan continues. Trading activities in European session could be quiet with Swiss, France and Germany on bank holidays. Looking ahead, FOMC minutes will be one of the highlights of the week. Markets will look into them for the chance of rate hike in June. Aussie has been under much pressure after RBA’s surprised rate cut this month and RBA minutes might shed some lights on the chance of further cut. Aussie will also face test from employment data. A number of key economic data will be released from UK including CPI, employment and retail sales. Nonetheless, Sterling’s reactions to them would be muted as focus stays on the EU referendum in June. Here are some highlights for the week ahead: Monday: US Empire State manufacturing index, NAHB housing market index, TIC capital flow Tuesday: RBA minutes; New Zealand inflation expectations, Swiss PPI; UK CPI, PPI; Eurozone trade balance; Canada manufacturing sales; US CPI, housing starts, industrial production Wednesday: New Zealand PPI; Japan GDP; UK employment; Eurozone CPI final; Canada foreign securities purchases; FOMC minutes Thursday: Australia employment; Japan all industry index; Eurozone current account, ECB meeting accounts; UK retail sales; Canada wholesale sales; US Philly Fed survey, jobless claims Friday: Canada CPI, retail sales USD/CAD Daily Outlook Daily Pivots: (S1) 1.2862; (P) 1.2910; (R1) 1.2984; More… Intraday bias in USD/CAD stays neutral for the moment. We’re staying cautiously bullish in the pair as a short term bottom is in place at 1.2460 and further rise is in favor. Above 1.3014 will target 38.2% retracement of 1.4689 to 1.2460 at 1.3311 first. Binary To Text Conversion On the downside, break of 1.2770 minor support will turn focus back to 1.2460 low instead. In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Convert Hex To Binary Current development, with bullish convergence condition in daily MACD, suggests that rebound from 1.2460 is possibly the second leg. Usd News Further rise might be seen to 61.8% retracement of 1.4689 to 1.2460 at 1.3838. We’d expect strong resistance above there to bring another falling leg before the consolidation pattern completes. Economic Indicators Update GMT Ccy Events Actual Consensus Previous Revised 23:01 GBP Rightmove House Prices M/M May 0.40% 1.30% 23:50 JPY Domestic Corporate Goods Price Index Y/Y Apr -4.20% -3.70% -3.80% 6:00 JPY Machine Tool Orders Y/Y Apr -21.20% 12:30 USD Empire State Manufacturing Index May 7 9.56 14:00 USD NAHB Housing Market Index May 59 58 20:00 USD Net Long-term TIC Flows Mar 36.5B 72.0B Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Eur Usd Graph Daily report_ markets shrugged off weak china data, quietly in range – action forex cdn usd

Eur Usd Graph Daily report_ markets shrugged off weak china data, quietly in range – action forex cdn usd

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