Action Insight Mid-Day Report 7-17-15

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Mid-Day Report: Dollar Higher on Solid Housing Data Dollar strengthens in early US session as supported by solid housing data. Housing starts jumped 9.8% 1.17m annualized rate in June, hitting the highest level since 2007. Building permits 7.4% to 1.34m, also, highest since 2007. Consumer inflation data were inline with expectations. Headline CPI rose 0.3% mom, 0.1% yoy in June while core CPI rose 0.2% mom, 1.8% yoy. Canadian dollar stays soft as CPI rose 0.2% mom, 1.0% yoy in June while core CPI rose 0.0% mom, 2.3% yoy. Full Report Here...
Featured Technical Report
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 123.84; (P) 124.01; (R1) 124.28; More... With 122.87 minor support intact, intraday bias in USD/JPY remains on the upside for 124.43 resistance. As noted before, pull back from 125.85 should have completed at 120.40. The corrective structure argues that larger up trend is not completed. Break of 124.43 should target 125.85 high and above. Meanwhile, below 122.87 minor support will turn focus back to 120.40 support instead. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

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GMT Ccy Events Actual Consensus Previous Revised 00:00 AUD Conference Board Leading Index May 0.20% -0.30% 12:30 USD Housing Starts Jun 1.174M 1.09M 1.04M 1.069M 12:30 USD Building Permits Jun 1.343M 1.11M 1.25M 1.250M 12:30 USD CPI M/M Jun 0.30% 0.30% 0.40% 12:30 USD CPI Y/Y Jun 0.10% 0.10% 0.00% 12:30 USD CPI Core M/M Jun 0.20% 0.20% 0.10% 12:30 USD CPI Core Y/Y Jun 1.80% 1.80% 1.70% 12:30 CAD CPI M/M Jun 0.20% 0.30% 0.60% 12:30 CAD CPI Y/Y Jun 1.00% 1.00% 0.90% 12:30 CAD BoC CPI Core M/M Jun 0.00% -0.10% 0.40% 12:30 CAD BoC CPI Core Y/Y Jun 2.30% 2.20% 2.20% 14:00 USD U. of Michigan Confidence Jul P 96.5 96.1
Suggested Readings
Fundamental Highlights "As Expected" CPI Takes Dollar Index to Nearly 3-Month High Can Rate Expectations Continue to Fuel this GBP Rally? US CPI Eyed As Yellen Reaffirms Rate Hike Plans US CPI Eyed, BoE To Rise Rates USD Broadly Lower, Bundestag Eyed BoE's Carney Suggests A Rate Hike By The End Of The Year Technical Highlights AUDUSD Looks For Support For Correction Daily Technical Outlook And Review AUDNZD Gears Up For Another Run At 1.14/1.15

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