| Action Insight Mid-Day Report | Dollar and Yen Steady, Sterling Boosted by Sentance's Comments Dollar and yen remain in range today, even though Asian stocks are broadly lower in response to China's measure to curb lending, including hiking bill yields and raising reserve requirements. Sterling, on the other hand, is boosted by comments from BoE Sentance that suggests the bank might pause the quantitative easing program. Crude oil extends recent pullback and drops below 80 level while gold is also trading below 1130. We'd expect the intermarket development to provide some support to greenback in near term for stronger rebound. Full Report Here... | | Special Report | 2010 Currency Outlook: EUR In the near-term, we see further upside for the euro against the dollar as strong global economic recovery and a broad-based low interest rate environment continues to favor 'higher-yield' assets. Moreover, the disappointing US non-farm payrolls in December evaporated much speculation about an early Fed tightening. Renewed weakness in USD, after a strong recovery in late-2009, should persist for a few months before favorable data emerge again. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: USD/CHF - Sell At 1.0255 Dollar's near term sideways trading is likely to continue and as long as support at 1.0130 holds, prospect of another corrective rebound remains, however, still expect upside to be limited and renewed selling should emerge around the Kijun-Sen (now at 1.0258), bring another decline. Below said support would extend fall from 1.0509 for a stronger retracement of recent rise from 0.9910 to 1.0100 but the greenback should stay well above 1.0050 due to loss of near term downward momentum. Full Report Here... Trade Idea: GBP/USD - Stand Aside Although the British pound has maintained a firm undertone after breaking resistance at 1.6194 and gain towards next resistance at 1.6242 is under way, above there is needed to signal an upside break of recent 1.5832-1.6242 range has taken place and extend gain towards 1.6306 (100% projection of 1.5832 to 1.6242 measuring from 1.5896), however, reckon 1.6356 (50% Fibonacci retracement of 1.6879 to 1.5832) would hold from here. Full Report Here... Trade Idea: EUR/USD - Buy At 1.4415 As the single currency has remained sidelined after early rise to 1.4557, suggesting further consolidation would take place, however, expect the Kijun-Sen (now at 1.4410) to contain downside and bring another rise later. Above said resistance would bring retracement of recent decline to 1.4600 and possibly towards 1.4680 (approx. 50% Fibonacci retracement of recent decline from 1.5142/45), however, reckon 1.4696 (1.618 times projection of 1.4218 to 1.4485 measuring from 1.4264) would limit hold from here and risk from there has increased for a retreat later. Full Report Here... Trade Idea: USD/JPY - Sell At 92.25 Yesterday's fall to 90.73 signals recent rise has indeed formed a top at 93.78 and consolidation with downside bias is seen for correction to 90.60 and possibly 90.36-41 (38.2% Fibonacci retracement of 84.82-93.78 and 61.8% Fibonacci retracement of 88.32 to 93.78 respectively), however, reckon 90.00 would contain weakness and price should stay well above 89.30 (50% Fibonacci retracement of 84.82 to 93.78), bring another rise later this week. Full Report Here... | | Featured Technical Report | Market Highlights | GBP/USD Daily Outlook Daily Pivots: (S1) 1.6087; (P) 1.6140; (R1) 1.6219; More GBP/USD's rise from 1.5896 resumes and at this point, intraday bias remains on the upside. Such rise could still extend further towards 100% projection of 1.5829 to 1.6327 from 1.5896 at 1.6304 as whole consolidations from 1.5829 continues. But after all, upside should be limited below 61.8% retracement of 1.6875 to 1.5829 at 1.6475 and bring resumption of the whole fall from 1.6875. On the downside, break of 1.6063 minor support will indicate that such consolidation has possibly completed and break of 1.5829 low will target 1.5706 key cluster support next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | AUDJPY | 84.24 | 83.68 | +56 | +0.66% | | NZDJPY | 67.52 | 67.16 | +36 | +0.53% | | GBPJPY | 147.83 | 147.06 | +77 | +0.52% | | EURAUD | 1.5665 | 1.5743 | -78 | -0.50% | | AUDCAD | 0.9600 | 0.9556 | +44 | +0.46% | Last Updated: Jan 13, 08:20 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 13, 08:20 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | -- | GBP | NIESR GDP Estimate Dec | | -- | 0.20% | | | 6:00 | JPY | Machine Tool Orders Y/Y Dec P | 62.80% | -- | -8.60% | -8.40% | | 9:30 | GBP | Industrial Production M/M Nov | | 0.30% | 0.00% | | | 9:30 | GBP | Industrial Production Y/Y Nov | | -6.10% | -8.40% | | | 9:30 | GBP | Manufacturing Production M/M Nov | | 0.20% | 0.00% | | | 9:30 | GBP | Manufacturing Production Y/Y Nov | | -5.10% | -7.80% | | | 15:30 | USD | Crude Oil Inventories | | 1.4M | 1.3M | | | 19:00 | USD | Fed Beige Book | | -- | -- | | | 19:00 | USD | Monthly Budget Statement Dec | | -84.9B | -120.3B | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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