Euro Soft in Quiet Market, CAD Awaits Job Data
Action Insight Mid-Day Report 4-8-22

Dollar Strong on Rising Yields, Canadian Dollar Rises Slightly after Job Data,

Canadian Dollar rises slightly after solid job data, but Dollar is also firm. The greenback is on track to end as the strongest one for the week, with help from extended rally in treasury yields. On the other hand, Sterling is under some selling pressures but Euro is still the worst performing one. Aussie is pressing a near term support against the greenback and break there could erase more of this week's gains.

Technically, technically, a focus will be on USD/JPY before weekly close. Rebound from 121.27 is extending and should be targeting 125.09 resistance. Firm break there will resume larger up trend from 102.58. There is prospect for that to happen even before close, if the pre-market rally in US yields would sustain and extend.

In Europe, at the time of writing, FTSE is up 1.09%. DAX is up 1.06%, CAC is up 0.95%. Germany 10-year yield is up 0.027 at 0.710. Earlier in Asia, Nikkei rose 0.36%. Hong Kong HSI rose 0.29%. China Shanghai SSE rose 0.47%. Singapore Strait Times dropped -0.62%. Japan 10-year JGB yield dropped -0.0071 to 0.238.

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Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3049; (P) 1.3077; (R1) 1.3103; More...

GBP/USD drops notably today and focus is now on 1.2999 low. Firm break there will resume larger down trend from 1.4248. Next target is 61.8% projection of 1.3641 to 1.2999 from 1.3297 at 1.2900. In any case, outlook will stay bearish in case of recovery.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
23:50 JPY Current Account (JPY) Feb 0.52T 0.27T 0.19T 0.18T
05:00 JPY Consumer Confidence Index Mar 32.8 35.9 35.3
06:00 JPY Eco Watchers Survey: Current Mar 47.8 45 37.7
08:00 EUR Italy Retail Sales M/M Feb 0.70% 0.20% -0.50% -0.60%
12:30 CAD Net Change in Employment Mar 72.5K 77.5K 336.6K
12:30 CAD Unemployment Rate Mar 5.30% 5.40% 5.50%
14:00 USD Wholesale Inventories Feb F 2.10% 2.10%