| Action Insight Daily Report | Yen Lower, Aussie Strengthens, ECB in Focus Yen weakens broadly in Asian on stock rally as well as on comments from Finance Minister Naoto Kan. Kan said that some nations might bring up the issue of Chinese Yuan in the upcoming G7 meeting in Canada and he's prepared to comments on that. Also, Kan expressed that there are still "various measures that could be taken " by BoJ in guiding monetary policy to support the economy. Nevertheless, he again toned down his call by a weaker yen by reiterating that exchange rates should be set by the markets unless there are rapid moves. Full Report Here... | | Special Report | Beige Book Review – Economic Outlook Improving But Still Slow Federal Reserve Bank of Philadelphia Wednesday released the Beige Book based on information collected in late November through January 4, 2010. 10 out of 12 districts showed economic improvement in the reporting period, suggesting a broadening of recovery. However, over improvement remained at low level compared with pre-recession level in 2007. Full Report Here... ECB Preview: Less about Tightening, More about Greece The ECB is expected to keep the main refinancing rate unchanged at 1% in January. After announcing some liquidity withdrawal measures at the December meeting, the upcoming meeting will likely be a quiet one. President Trichet should describe current interest rates as 'appropriate' and the outlook for growth and inflation 'moderate' with 'broadly balanced' risks to both sides. As Greece is currently preparing the stability program to reduce budget deficit, we expect this will be the focus of the press conference today. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: USD/CHF - Sell At 1.0255 As the greenback has remained sidelined, suggesting further consolidation would take place and as long as support at 1.0130 holds, prospect of another corrective rebound to 1.0220 remains, however, renewed selling interest should emerge around the Kijun-Sen (now at 1.0258) and bring another decline. Break of said support would confirm the fall from 1.0509 top has resumed and bring at least a stronger retracement of recent upmove 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 - Buy At 1.6150 As the British pound has maintained a firm undertone after breaking resistance at 1.6242, suggesting the rise from 1.5832 low remains in progress and would bring stronger retracement of recent decline from 1.6879 (100% projection of 1.5832 to 1.6242 measuring from 1.5896 at 1.6306 has already been met) to 1.6356/61 (50% Fibonacci retracement of 1.6879 to 1.5832 and 100% projection of 1.5896 to 1.6194 measuring from 1.6063), however, reckon resistance at 1.6412 would hold from here due to overbought condition. Full Report Here... Trade Idea: EUR/USD - Stand Aside Despite rising to 1.4580 yesterday, lack of follow through buying suggests consolidation would be seen initially today and retreat to the support area at 1.4453 cannot be ruled out, however, only break of the Kijun-Sen (now at 1.4421) would confirm a top has been formed, then swift fall to the Ichimoku cloud area (1.4370-72) would follow. Looking ahead, it is necessary to see a sustain breach of the Kumo to suggest the correction from 1.4218 has possibly ended and extend weakness towards 1.4257-64 support area, otherwise, choppy consolidation would continue. Full Report Here... Trade Idea: USD/JPY - Sell At 92.45 Although the greenback has continued to edge higher on short-covering, suggesting the first leg of decline from 93.78 has ended at 90.73 earlier and mild upside bias would be seen for rebound to 92.10 (current level of the Kijun-Sen), reckon 92.61 (61.8% Fibonacci retracement of 93.78 to 90.73)) would attract renewed selling interest, bring another decline. Full Report Here... | | Featured Technical Report | Market Highlights | AUD/USD Daily Outlook Daily Pivots: (S1) 0.9196; (P) 0.9232; (R1) 0.9275; More Intraday bias in AUD/USD remains neutral for the moment as consolidations from 0.9321 might still continue. Nevertheless, in case of another fall, downside should be contained by 38.2% retracement of 0.8734 to 0.9324 at 0.9099 and bring rally resumption . ABove 0.9324 will suggest that whole rise from 0.8734 has resumed and should target a test on 0.9404 resistance next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | AUDJPY | 85.32 | 84.42 | +90 | +1.05% | | AUDUSD | 0.9312 | 0.9240 | +72 | +0.77% | | AUDCAD | 0.9593 | 0.9524 | +69 | +0.72% | | GBPAUD | 1.7504 | 1.7613 | -109 | -0.62% | | NZDJPY | 68.03 | 67.63 | +40 | +0.59% | Last Updated: Jan 14, 07:15 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 14, 07:15 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:50 | JPY | Machine Orders M/M Nov | -11.30% | 0.30% | -4.50% | | | 23:50 | JPY | Machine Orders Y/Y Nov | -20.50% | -10.10% | -21.00% | | | 23:50 | JPY | Domestic CGPI Y/Y Dec | -3.90% | -3.80% | -4.90% | -5.00% | | 0:30 | AUD | Employment Change Dec | 35.2K | 10.0K | 31.2K | 31.4K | | 0:30 | AUD | Unemployment Rate Dec | 5.50% | 5.80% | 5.70% | 5.60% | | 7:00 | EUR | German CPI M/M Dec F | | 0.70% | 0.70% | | | 7:00 | EUR | German CPI Y/Y Dec F | | 0.80% | 0.80% | | | 10:00 | EUR | Eurozone Industrial Production M/M Nov | | 0.50% | -0.60% | | | 10:00 | EUR | Eurozone Industrial Production Y/Y Nov | | -8.40% | -11.10% | | | 12:45 | EUR | ECB Interest Rate Decision | | 1.00% | 1.00% | | | 13:30 | EUR | ECB Press Conference | | -- | -- | | | 13:30 | USD | Advance Retail Sales Dec | | 0.40% | 1.30% | | | 13:30 | USD | Retail Sales Less Autos Dec | | 0.30% | 1.20% | | | 13:30 | USD | Import Price Index M/M Dec | | -0.10% | 1.70% | | | 13:30 | USD | Initial Jobless Claims | | 438K | 434K | | | 15:00 | USD | Business Inventories Nov | | 0.00% | 0.20% | | | 15:30 | USD | Natural Gas Storage | | -255B | -153B | | | | Suggested Readings | ECB Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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