| Action Insight Daily Report |
Dollar Rebound Stalls ahead of Non-Farm Payrolls Dollar's rebound stalls as traders are awaiting today's non-farm payrolls report from US. Economists expect the job market to be flat in December after 23 months of contraction. Unemployment rate is expected to be unchanged at 10%. Most of the leading indicators to NFP point to a positive report today. ADP reprinted the least contraction since March 2008, -84k in the private sector in December. Employment component of ISM Manufacturing index stayed above 50 level for the third month and rose slightly to 52.0 in December. Employment component of ISM Non-manufacturing index improved from 4.16 to 44 in December even though it's still staying below 50, which suggests contraction. Consumer confidence continues to stabilize around 50 level and rose slightly to 52.9 in December while both the continuing claims and four week average of initial claims continue to fall. The data set suggest that we would likely have a better NFP number than November's -11k and a positive number is indeed possible. Full Report Here... |
| Candlesticks & Ichimoku Analysis |
Trade Idea: EUR/USD - Stand aside Although the single currency has remained under pressure after retreating from 1.4448 yesterday, it is necessary to see a breach of support area at 1.4257-82 to confirm the correction from 1.4218 has ended and bring resumption of recent decline from 1.5145 top for retest of 1.4218 and later towards 1.4140/50, otherwise, further choppy consolidation would take place. Full Report Here... |
| Featured Technical Report | Market Highlights |
USD/JPY Daily Outlook Daily Pivots: (S1) 92.49; (P) 92.94; (R1) 93.79; More. With 92.08 support intact, USD/JPY's rally is still expected to continue. Whole rally from 84.81 might now be targeting medium term trend line resistance at 95.08 and 55 weeks EMA at 94.21. However, the pair might continue to lose upside momentum in next rally. On the downside, a break of 92.08 minor support will serve as a signal that USD/JPY has topped out and will flip intraday bias back to the downside for 91.24 support first. Break there will confirm and then target 87.36 support next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPAUD | 1.7425 | 1.7364 | +61 | +0.35% | | EURAUD | 1.5639 | 1.5591 | +48 | +0.31% | | AUDCAD | 0.9461 | 0.9490 | -29 | -0.31% | | AUDUSD | 0.9147 | 0.9174 | -27 | -0.30% | | AUDJPY | 85.39 | 85.61 | -22 | -0.26% | Last Updated: Jan 08, 07:00 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 08, 07:00 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 5:00 | JPY | Leading Index Nov P | 91.2 | 91.2 | 89.7 | 89.4 | | 6:45 | CHF | Unemployment Rate Dec | | 4.20% | 4.10% | | | 7:00 | EUR | German Trade Balance (EUR) Nov | | 12.4B | 13.6B | | | 9:30 | GBP | PPI Input M/M Dec | | -0.40% | 0.10% | | | 9:30 | GBP | PPI Input Y/Y Dec | | 6.40% | 4.00% | | | 9:30 | GBP | PPI Output M/M Dec | | 0.00% | 0.20% | | | 9:30 | GBP | PPI Output Y/Y Dec | | 3.10% | 2.90% | | | 9:30 | GBP | PPI Output Core Y/Y Dec | | 1.90% | 2.00% | | | 10:00 | EUR | Eurozone GDP Q/Q Q3 F | | 0.40% | 0.40% | | | 10:00 | EUR | Eurozone GDP Y/Y Q3 F | | -4.10% | -4.10% | | | 10:00 | EUR | Eurozone Unemployment Rate Nov | | 9.90% | 9.80% | | | 11:00 | EUR | German Industrial Production M/M Nov | | 1.00% | -1.80% | | | 12:00 | CAD | Net Change in Employment Dec | | 20.0K | 79.1K | | | 12:00 | CAD | Unemployment Rate Dec | | 8.50% | 8.50% | | | 13:30 | USD | Change in Non-Farm Payrolls Dec | | 0K | -11K | | | 13:30 | USD | Unemployment Rate Dec | | 10.00% | 10.00% | | | 15:00 | USD | Wholesale Inventories Nov | | -0.30% | 0.30% | | |
| Suggested Readings |
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