Action Insight Mid-Day Report 4-26-19

Strong US GDP With Weak Details Send Dollar Lower, 10-Yr Yield Breaks 2.5

Action Insight Mid-Day Report 4-26-19 Strong US GDP With Weak Details Send Dollar Lower, 10-Yr Yield Breaks 2.5 Dollar spikes higher in early US session as Q1 GDP grew much more than market expectations. However, the greenback quickly pulled back as details are seen as much weaker than the headline number suggests. It's actually a set of data welcome by stock traders as Fed will likely stay cautious. DOW futures rebound strongly after the release while NASDAQ futures point to extending record run. US 10-year yield falls sharply and breaches 2.5% handle. Back to the currency markets, Yen is the weakest one for today, followed by Dollar and Swiss Franc. New Zealand Dollar is the strongest, followed by Australian. But for the week, Yen remains the strongest, followed by Dollar. Aussie is the weakest, followed by Euro. In Europe, currently, FTSE is down -0.08%. DAX is up 0.15%. CAC is up 0.18%. German 10-year yield is down -0.012 at -0.018. Earlier in Asia, Nikkei dropped -0.22%. Hong Kong HSI rose 0.19%. China Shanghai SSE dropped -1.2%. Singapore Strait Times rose 0.20%. Japan 10-year yield dropped -0.0169 to -0.046. Full Report Here US GDP grew 3.2% in Q1, blows past expectations SNB Jordan: Negative interest rate and willingness to intervene remain both... ECB Rehn: Some policymakers want to keep low interest rates a... IMF Lagarde: China's Belt and Road should only go where it's... New Zealand exports hit record NZD 5.7B in March, NZD/USD recovers Japan: Large contraction in industrial production raises recession risk No discussions on auto restriction, agriculture, currency, monetary policy in US-Japan... BoC Poloz: Could resume rate hike some time down the road Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol BOC Erases Rate Hike Possibility in Near- to Medium- Term US Crude Oil Inventory Increased Four Times More than Expected CFTC Commitments of Traders – Net Short Increased in Safe- Haven... Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1113; (P) 1.1138; (R1) 1.1157; More..... With 4 hour MACD crossed above signal line, a temporary low is in place at 1.1111 in EUR/USD. Intraday bias is turned neutral for some consolidations. But recovery should be limited below 1.1324 resistance to bring fall resumption. On the downside, break of 1.1111 will resume the down trend to 100% projection of 1.1448 to 1.1183 from 1.1324 at 1.1059. Break will target 161.8% projection at 1.0895. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings US GDP Jumped 3.2% in Q1 Crude Oil Relinquishes Big Chunk Of Weekly Gains Active Bitcoin Trading Strategy Generated Over 100% Return In A Year Asia Note – Can You Hear The Doves Fernando? A Bruised Euro Treads Water Ahead Of US GDP Volatility Could Be Brewing For Silver Fundamental Analysis | Technical Analysis In-depth Reports BOC Erases Rate Hike Possibility in Near- to Medium- Term Australian Q1 Inflation - CPI Flat In The Quarter Highlighting Very Little Inflationary Pressure Are Sanctions On Iranian Oil Purchases A 'Big Deal'? Can US Stock Markets Continue to Defy Gravity? Green Shoots Or Rogue Weeds? Some Insights into RBA's Employment Puzzle. Cyclical Jobs are Slowing; Supporting Rate Cut Don't Expect a Big Jolt to Growth if Trade Tensions Ease What Happens If The USMCA Doesn't Happen? Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 22:45 NZD Trade Balance Mar 922M 131M 12M -68M 23:30 JPY Unemployment Rate Mar 2.50% 2.40% 2.30% 23:30 JPY Tokyo CPI Core Y/Y Apr 1.30% 1.10% 1.10% 23:50 JPY Industrial Production M/M Mar P -0.90% 0.00% 0.70% 23:50 JPY Retail Trade Y/Y Mar 1.00% 0.80% 0.40% 0.60% 01:30 AUD PPI Q/Q Q1 0.40% 0.60% 0.50% 01:30 AUD PPI Y/Y Q1 1.90% 2.00% 2.00% 01:30 AUD Import price index Q/Q Q1 -0.50% -1.10% 0.50% 05:00 JPY Housing Starts Y/Y Mar 10.00% 5.50% 4.20% 08:30 GBP BBA Loans for House Purchase Mar 39980 38675 39083 39207 10:00 GBP CBI Reported Sales Apr -5 3 1 12:30 USD GDP Annualized Q/Q Q1 A 3.20% 2.20% 2.20% 12:30 USD GDP Price Index Q1 A 0.90% 1.30% 1.70% 14:00 USD U. of Mich. Sentiment Apr F 97 96.9

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