Action Insight Mid-Day Report 2-18-22

Markets Staying Quiet, Canada and UK Retail Sales Ignored

The financial markets are generally quiet today. Stocks are slightly down by losses are limited. Retail sales data from Canada and UK are largely ignored. Commodity currencies are the strongest ones for now. Yen, Dollar and Euro are the weaker ones. There news of shelling in Ukraine east by Russian-backed separatists and there is still no clarity on the overall situation and development. Traders are likely to continue to hold their bets for now.

In Europe, at the time of writing, FTSE is down -0.05%. DAX is down -1.01%. CAC is down -0.19%. Germany 10-year yield is down -0.020 at 0.210. Earlier in Asia, Nikkei dropped -0.41%. Hong Kong HSI dropped -1.88%. China Shanghai SSE rose 0.66%. Singapore Strait Times dropped -0.37%. Japan 10-year JGB yield dropped -0.0034 to 0.220.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1329; (P) 1.1357; (R1) 1.1391; More...

Range trading continues in EUR/USD and intraday bias remains neutral. With 1.1265 minor support intact, further rally will remain mildly in favor. On the upside break of 1.1482 will target 38.2% retracement of 1.2348 to 1.1120 at 1.1589 next. Sustained break there will argue that whole fall from 1.2348 has completed too and target 61.8% retracement at 1.1879. On the downside, however, break of 1.1265 support will dampen this bullish view and bring retest of 1.1120 low instead.

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EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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Economic Calendar

GMT	Ccy	Events	Actual	Forecast	Previous	Revised
21:45	NZD	PPI Input Q/Q Q4	1.10%	1.60%	1.60%
21:45	NZD	PPI Output Q/Q Q4	1.40%	2.30%	1.80%
23:30	JPY	National CPI Core Y/Y Jan	0.20%	0.30%	0.50%
07:00	GBP	Retail Sales M/M Jan	1.90%	1.00%	-3.70%	-4.00%
07:00	GBP	Retail Sales Y/Y Jan	9.10%	8.70%	-0.90%	-1.70%
07:00	GBP	Retail Sales ex-Fuel M/M Jan	1.70%	1.20%	-3.60%	-3.90%
07:00	GBP	Retail Sales ex-Fuel Y/Y Jan	7.20%	7.90%	-3.00%	-3.80%
09:00	EUR	Eurozone Current Account (EUR) Dec	22.6B	24.3B	23.6B
13:30	CAD	New Housing Price Index M/M Jan	0.90%	0.50%	0.20%
13:30	CAD	Retail Sales M/M Dec	-1.80%	-2.10%	0.70%
13:30	CAD	Retail Sales ex Autos M/M Dec	-2.50%	-2.10%	1.10%
15:00	USD	Existing Home Sales Jan	6.12M	6.18M
15:00	EUR	Eurozone Consumer Confidence Feb P	-8	-9