Action Insight Mid-Day Report 7-23-15

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Mid-Day Report: Dollar Recovers Mildly as Jobless Claims Dropped to Lowest in Four Decades Dollar recovered some grounds in early US session on solid job data but it's generally staying in consolidative mode. Initial jobless claims dropped 26k to 255k in the week ended July 17, much better than expectation of 275k. Also, that's the lowest level since November 1973, that is, more than four decades. The four week moving average dropped to 278.5k, down from 282.5k. Continuing claims dropped 8k to 2.2m in the week ended July 11. The dollar index breached 98 handle earlier this week but failed to sustain above. The index is trading at 97.3 at the time of writing. Full Report Here...
Featured Technical Report
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 123.61; (P) 124.04; (R1) 124.33; More... Intraday bias in USD/JPY remains neutral for consolidation below 124.47 temporary top. Another rise is in favor as long as 122.91 minor support holds. Firm break of 124.43 would likely extend the larger up trend through 125.85 high. However, break of 122.91 will suggest that rebound from 120.40 has complete and will turn bias back to the downside for this support. 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 21:00 NZD RBNZ Rate Decision 3.00% 3.00% 3.25% 23:50 JPY Trade Balance (JPY) May -0.25T -0.25T -0.18T -0.16T 08:30 GBP Retail Sales M/M Jun -0.20% 0.40% 0.20% 0.30% 12:30 CAD Retail Sales M/M May 1.00% 0.40% -0.10% 12:30 CAD Retail Sales Ex Auto M/M May 0.90% 0.70% -0.60% -0.50% 12:30 USD Initial Jobless Claims Jul 17 255K 275K 281K 14:00 EUR Consumer Confidence Jul A -5.8 -5.6 14:00 USD Leading Index M/M Jun 0.10% 0.70%
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Fundamental Highlights New Zealand: Expect Lower Interest Rates, Greece Moves Forward Dollar's Attempt To Rally Aborted RBNZ Cut Rates, South Korea GDP Disappoints Silver Ready For A Squeeze Play? Oil A Victim Of A Bearish Channel And Wider Sentiment Technical Highlights USDCHF: Four-Decade Low in US Jobless Claims Could Overcome Bearish Technicals GBPUSD Is Trading Higher, Resistance At 61.8% Fibonacci Level Daily Technical Outlook And Review

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