Subdued Start to a Heavy Data Week with Risk Sentiment Holding Steady
| Action Insight Daily Report 4-28-25 |
Subdued Start to a Heavy Data Week with Risk Sentiment Holding Steady |
Trading was particularly subdued today, even by the quiet standards of a typical Monday in Asia. That’s not surprising, given the near-empty economic calendar offering little to move the markets. Instead, traders are exercising understandable caution ahead of a heavy barrage of important data releases later this week, including US and Eurozone GDP figures, inflation reports from the US, Eurozone, and Australia, and the US non-farm payrolls report. Now that the peak of the tariff shock appears to have passed, at least for this current wave, the market's attention is shifting toward how these escalations are starting to materialize in hard economic data. Early indications from global PMIs and corporate earnings have been mixed, but this week's heavyweight releases will offer more definitive evidence. For now, the overall market mood remains cautiously optimistic, and there is still room for a further rebound in risk assets if the incoming data holds up or surprises to the upside. Meanwhile, Yen will also be a major focus this week with BoJ’s rate decision and new economic projections due. Yen has softened notably since last week as risk appetite improved globally. Speculation is also building that BoJ might delay its next rate hike in response to tariff-induced uncertainties. Should the BoJ’s updated projections lean dovish, Yen could face another leg of weakness against its major counterparts.... |
USD/CAD Daily Outlook Daily Pivots: (S1) 1.3833; (P) 1.3863; (R1) 1.3883; More... Further recovery remains mildly in favor in USD/CAD despite some loss of upside momentum as seen in 4H MACD. Still, even in case of another rise, upside should be limited by 1.4150 support turned resistance (38.2% retracement of 1.4791 to 1.3780 at 1.4166). On the downside, firm break of 1.3780 short term bottom will resume the whole fall from 1.4791. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
|---|
| 10:00 | GBP | CBI Realized Sales Apr | -20 | -41 |
|
|
|
