| Action Insight Daily Report |
Dollar Strengthens on Risk Aversion and Euro Concern Risk aversion drives market in Asian today on news that China has told banks to limit lending to restrict overall credit growth. Weaker than expected CPI report from New Zealand also put some pressure on both Aussie and Kiwi. Meanwhile, Euro remains the weakest currency this week and dives through 1.4217 support against dollar and is now pressing 0.8700 level against Sterling. EUR/USD's break of 1.4217 serves as an early alert that dollar is staging a broad based rebound and we'd expect Euro's weakness to be spread over to broad based dollar rally in near term if dollar index breaks 78.19 resistance. Full Report Here... |
| Candlesticks & Ichimoku Analysis |
Trade Idea: GBP/USD - Buy At 1.6215, O.C.O. Sell At 1.6400 Cable slipped to an intra-day low of 1.6281 in tandem with he selloff in euro, suggesting recent upmove has formed a top at 1.6459 and consolidation with mild downside bias is seen for retracement of recent upmove to 1.6267 (38.2% Fibonacci retracement of 1.5957 to 1.6459), however, 1.6208-11 (50% Fibonacci retracement and previous support) should attract renewed buying interest, bring rebound later but price should falter well below resistance at 1.6459 and bring another leg of corrective decline. Full Report Here... Trade Idea: EUR/USD - Sell At 1.4300 The single currency extended recent decline after breaking indicated support at 1.4257 and the breach of 1.4218 support confirms the major decline from 1.5145 (2009 high) has resumed and stronger retracement of early upmove is in progress for further fall to (price already met indicated first downside target at 1.4170 - 100% projection of 1.4580 to 1.4335 measuring from 1.4415) 1.4118 (50% projection of 1.5142 to 1.4218 measuring from 1.4580) but reckon 1.4040/50 would hold from here and bring rebound later this week. Full Report Here... |
| Featured Technical Report | Market Highlights |
EUR/USD Daily Outlook Daily Pivots: (S1) 1.4222; (P) 1.4318; (R1) 1.4384; More EUR/USD dives further to as low as 1.4171 today and the break of 1.4217 support confirms that whole decline from 1.5143 has resumed. Intraday bias remains on the downside and further fall should now be seen to 38.2% retracement of 1.2329 to 1.5143 at 1.4068 next. On the upside, above 1.4304 minor resistance will turn intraday bias neutral and bring consolidations. But recovery is expected to be limited below 1.4578 resistance and bring fall resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDJPY | 66.37 | 67.00 | -63 | -0.95% | | NZDUSD | 0.7283 | 0.7352 | -69 | -0.95% | | AUDJPY | 83.49 | 84.12 | -63 | -0.75% | | AUDUSD | 0.9162 | 0.9231 | -69 | -0.75% | | EURJPY | 129.40 | 130.22 | -82 | -0.63% | Last Updated: Jan 20, 07:10 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 20, 07:10 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 21:45 | NZD | CPI Q/Q Q4 | -0.20% | 0.00% | 1.30% | | | 21:45 | NZD | CPI Y/Y Q4 | 2.00% | 2.10% | 1.70% | | | 23:30 | AUD | Westpac Consumer Confidence Jan | 5.60% | -- | -3.80% | | | 23:50 | JPY | Tertiary Industry Index M/M Nov | -0.20% | -0.20% | 0.50% | 0.40% | | 7:00 | EUR | German PPI M/M Dec | | 0.20% | 0.10% | | | 7:00 | EUR | German PPI Y/Y Dec | | -5.10% | -5.90% | | | 9:30 | GBP | BoE Policy Meeting Minutes | | 0--0--9 | 0--0--9 | | | 9:30 | GBP | Claimant Count Change Dec | | -4.6K | -6.3K | | | 9:30 | GBP | Claimant Count Rate Dec | | 5.00% | 5.00% | | | 9:30 | GBP | ILO Unemployment Rate (3M) Nov | | 8.00% | 7.90% | | | 12:00 | CAD | CPI M/M Dec | | 0.20% | 0.50% | | | 12:00 | CAD | CPI Y/Y Dec | | 1.80% | 1.00% | | | 12:00 | CAD | BoC CPI Core M/M Dec | | 0.10% | 0.40% | | | 12:00 | CAD | BoC CPI Core Y/Y Dec | | 1.90% | 1.50% | | | 13:30 | CAD | Manufacturing Shipments M/M Nov | | 1.40% | 2.00% | | | 13:30 | USD | PPI M/M Dec | | 0.00% | 1.80% | | | 13:30 | USD | PPI Y/Y Dec | | 4.60% | 2.40% | | | 13:30 | USD | PPI Core M/M Dec | | 0.10% | 0.50% | | | 13:30 | USD | PPI Core Y/Y Dec | | 1.00% | 1.20% | | | 13:30 | USD | Housing Starts Dec | | 574K | 574K | | | 13:30 | USD | Building Permits Dec | | 580K | 584K | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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