| Action Insight Daily Report | Yen Lower as Obama Boosted Risk Appetite, Dollar Mixed Yen is broadly lower in Asian today as stocks are lifted by US President Obama's first State of the Union address. Obama pledged to put job creation as the "number one" focus in 2010 and called for a new job bill. Obama also called for an extension of tax incentives of USD 38b over this yearand proposed to use $30b of money paid back from TARP to assist community banks that give loans to small businesses. Nikkei rebounded by jumping 1.68% to close at 10424. Aussie and Kiwi are the better performers on risk appetite. Full Report Here... | | Special Reports | RBNZ Review - January: Less Uncertainty, Higher Possibility To Hike Rate By 2Q10 As expected, the RBNZ left the OCR unchanged at 2.5%. The accompanying statement was a short one as much uncertainty about recovery was removed. Also, the central bank reiterated December' stance that removal of policy stimulus will start around the middle of 2010 if the economy continues to recover. Full Report Here... FOMC Review – January: Slightly More Hawkish Than Anticipated The January FOMC statement showed slightly more hashish tone on economic growth though the overall stance remained unchanged – the Fed funds rate will be kept at 0-0.25% and 'economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period'. Kansa City Fed President Thomas Hoenig's dissent to keep the 'extended period' phrase was also surprising and signaled there might more hawks appearing later this year. Full Report Here... 2010 Currency Outlook: JPY Narrowing of US-Japan yield gap and the 'laissez-faire' stance of the Japanese government were the main reasons accelerating Japanese yen's rally against the dollar in 2H09. 3-month LIBOR for USD-denominated loans has been trading been below that of yen-denominated loans since August 24 while USDJPY plummeted to as low as 84.82, a level never seen after 1995, in November. Not until a stronger-than-expected November employment report in the US which spurred speculations of an earlier (by June) Fed rate hike had the dollar rebounded against the yen. However, the yen remains strong compared with historical average. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: EUR/USD - Sell At 1.4160, O.C.O. Buy At 1.3900 Although the single currency rebounded after falling to 1.3930 this morning, a sustain breach of the Kijun-Sen (now at 1.4067) is needed to signal a temporary low is in place and bring correction to the Ichimoku cloud bottom (now at 1.4154), otherwise, downside risk remains for recent decline to extend one more fall to 1.3920 (50% projection of 1.4580 to 1.4029 measuring from 1.4195) but reckon 1.3854 (61.8% projection) would hold, bring rebound later. Full Report Here... Trade Idea: USD/JPY - Sell At 91.10, O.C.O. Buy At 89.45 Despite falling to 89.14 yesterday, the rebound from there and the break of the Tenkan-Sen and Kijun-Sen signal a temporary low has been formed there and consolidation with mild upside bias is seen for correction to 90.84-91 (current level of the Ichimoku cloud bottom and 38.2% Fibonacci retracement of 93.78 to 89.14) but the Ichimoku cloud top (now at 91.11) should attract renewed selling interest and bring another decline later. Full Report Here... | | Featured Technical Report | Market Highlights | USD/JPY Daily Outlook Daily Pivots: (S1) 89.39; (P) 89.74; (R1) 90.34; More. USD/JPY's strong rebound from 89.13 and break of 89.76 minor resistance indicates that an intraday low is in place and turns bias neutral. Some consolidations could be seen but we'd expect 90.55 resistance holds and bring fall resumption. Below 89.13 will target 87.36 support next and break there will confirm that whole rise from 84.10 has completed with waves up to 93.74 already. Also, it will indicate that medium term down trend is resuming for another low below 84.81. However, sustained trading above 90.55 resistance will dampen this bearish view and turn focus back to 91.86/92.03 resistance zone instead. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | AUDJPY | 81.29 | 80.56 | +73 | +0.90% | | NZDJPY | 63.97 | 63.55 | +42 | +0.66% | | EURAUD | 1.5559 | 1.5659 | -100 | -0.64% | | AUDUSD | 0.9008 | 0.8952 | +56 | +0.62% | | CADJPY | 85.05 | 84.55 | +50 | +0.59% | Last Updated: Jan 28, 07:05 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 28, 07:05 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 20:00 | NZD | RBNZ Interest Rate Decision | 2.50% | 2.50% | 2.50% | | | 23:50 | JPY | Retail Trade Y/Y Dec | -0.30% | 0.30% | -1.00% | -1.10% | | 8:55 | EUR | German Unemployment Change Jan | | 15K | -3K | | | 8:55 | EUR | German Unemployment Rate Jan | | 8.20% | 8.10% | | | 10:00 | EUR | Eurozone Economic Confidence Jan | | 92.3 | 91.3 | | | 10:00 | EUR | Eurozone Consumer Confidence Jan | | -15 | -16 | | | 10:00 | EUR | Eurozone Industrial Confidence Jan | | -15 | -16 | | | 10:00 | EUR | Eurozone Services Confidence Jan | | -3 | -3 | | | 13:30 | USD | Durable Goods Orders Dec | | 2.00% | 0.20% | | | 13:30 | USD | Durables Ex-Transport Dec | | 0.30% | 2.00% | | | 13:30 | USD | Initial Jobless Claims | | 452K | 482K | | | 15:30 | USD | Natural Gas Storage | | -102B | -245B | | | | Suggested Readings | FOMC RBNZ Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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