Euro Slips on Soft CPI, US 10 Year Yields Sink
Action Insight Mid-Day Report 4-1-25 |
Euro Slips on Soft CPI, US 10 Year Yields Sink |
Global markets are trading with a mixed tone today as investors brace for the long-awaited reciprocal tariff announcement from the US tomorrow. Asian stocks staged a moderate recovery from Monday’s selloff, while European indexes are also slightly in black. However, US futures are coming under renewed pressure. Meanwhile, Gold continues to shine amid the unease, extending its record-breaking rally and coming just shy of the 3150 mark. Currency markets remain cautious but active. Selling pressure has rotated toward Euro and Sterling, with the common currency slightly more pressured by today’s lower-than-expected Eurozone core CPI print. Sterling is also softening, along with Loonie. On the other hand, Yen and Swiss Franc are regaining strength, both benefiting from renewed risk-off flows. Dollar is treading water, with a mixed performance. Aussie and Kiwi are holding their ground for now, underpinned by stronger-than-expected Chinese manufacturing PMI data. The Washington Post reported that Trump administration is still weighing several options for its tariff rollout, including a sweeping 20% levy on most imports or a country-by-country “reciprocal” model. While no final decision has been made, the scope could significantly alter global supply chains. Markets are likely to remain defensive until more clarity emerges, especially on whether exceptions will be granted and how key trade partners like the EU, China, and Canada will respond...... |
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.0783; (P) 1.0816; (R1) 1.0848; More... EUR/USD dips slightly today but stays well above 1.0731 support. Intraday bias remains neutral first. On the upside, break of 1.0857 resistance will indicate that correction from 1.0963 has completed already. Retest of 1.0953 should be seen first. Firm break there will resume the rally from 1.0176 towards 1.1274 key resistance. However, firm break of 38.2% retracement of 1.0358 to 1.0953 at 1.0726 holds will bring deeper correction to 55 D EMA (now at 1.0645). | |
GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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23:30 | JPY | Unemployment Rate Feb | 2.40% | 2.50% | 2.50% | 23:50 | JPY | Tankan Large Manufacturing Index Q1 | 12 | 12 | 14 | 23:50 | JPY | Tankan Large Manufacturing Outlook Q1 | 12 | 9 | 13 | 23:50 | JPY | Tankan Non-Manufacturing Index Q1 | 35 | 33 | 33 | 23:50 | JPY | Tankan Non-Manufacturing Outlook Q1 | 28 | 29 | 28 | 23:50 | JPY | Tankan Large All Industry Capex Q1 | 3.10% | 11.30% | 00:30 | AUD | Retail Sales M/M Feb | 0.20% | 0.30% | 0.30% | 00:30 | JPY | Manufacturing PMI Mar F | 48.4 | 48.3 | 48.3 | 01:45 | CNY | Caixin Manufacturing PMI Mar | 51.2 | 50.5 | 50.8 | 03:30 | AUD | RBA Interest Rate Decision | 4.10% | 4.10% | 4.10% | 04:30 | AUD | RBA Press Conference | 06:30 | CHF | Real Retail Sales Y/Y Feb | 1.60% | 1.50% | 1.30% | 2.90% | 07:30 | CHF | Manufacturing PMI Mar | 48.9 | 50.5 | 49.6 | 07:50 | EUR | France Manufacturing PMI Mar F | 48.5 | 48.9 | 48.9 | 07:55 | EUR | Germany Manufacturing PMI Mar F | 48.3 | 48.7 | 48.3 | 08:00 | EUR | Eurozone Manufacturing PMI Mar F | 48.6 | 48.7 | 48.7 | 08:30 | GBP | Manufacturing PMI Mar | 44.9 | 44.6 | 44.6 | 09:00 | EUR | Eurozone Unemployment Rate Feb | 6.10% | 6.20% | 6.20% | 09:00 | EUR | CPI Y/Y Mar P | 2.20% | 2.20% | 2.30% | 09:00 | EUR | CPI Core Y/Y Mar P | 2.40% | 2.50% | 2.60% | 13:30 | CAD | Manufacturing PMI Mar | 47.8 | 13:45 | USD | Manufacturing PMI Mar F | 49.8 | 49.8 | 14:00 | USD | ISM Manufacturing PMI Mar | 49.9 | 50.3 | 14:00 | USD | ISM Manufacturing Prices Paid Mar | 65 | 62.4 | 14:00 | USD | ISM Manufacturing Employment Mar | 47.6 | 14:00 | USD | ISM Manufacturing New Orders Index Mar | 48.6 | 14:00 | USD | Construction Spending M/M Feb | 0.20% | -0.20% |
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