| Action Insight Daily Report |
Dollar and Yen Edge Higher on Risk Aversion, Manufacturing Data in Focus Dollar and yen strengthen as the week starts on risk aversion as Asian stocks are broadly lower following Friday's late selloff in US equities. There were also some concerns on more tightening from China after release of PMI manufacturing data. The official PMI manufacturing index in China dropped slightly to 55.8 but remains well above 50 level. meanwhile, the HSBC manufacturing PMI rose to a record high of 57.4. Nevertheless, dollar and yen pare some gains as the day goes as stocks recover. Full Report Here... |
| Candlesticks & Ichimoku Analysis |
Trade Idea: EUR/USD - Sell At 1.4020 As the single currency has continued to move lower on dollar's broad-based strength after the release of solid Q4 GDP data and indicated downside target at 1.3854 (61.8% projection of 1.4580 to 1.4029 measuring from 1.4195) has been met, suggesting further weakness towards 1.3800 is under way, however, reckon 1.3748 (61.8% Fibonacci retracement of 1.2885 to 1.5145) would hold from here and bring rebound later due to oversold condition. Full Report Here... Trade Idea: USD/JPY - Exit Long Entered At 90.00 Despite Friday's rise to 90.93, as the greenback ran into heavy offers right at the Ichimoku cloud top and the retreat from there suggest consolidation with mild downside bias would be seen, however, only break of Friday's low at 89.57 would signal the rebound from 89.14 has ended there, then retest of this support would be seen, break there would extend the decline from 93.78 for a stronger retracement of the rise from 84.82 towards 88.83 but reckon support at 88.32 would remain intact. Full Report Here... |
| Featured Technical Report | Market Highlights |
GBP/JPY Daily Outlook Daily Pivots: (S1) 143.52; (P) 144.87; (R1) 145.58; More GBP/JPY's break of 143.62 support today indicates that whole fall from 150.68 is resuming. Intraday bias remains on the downside as long as 144.92 minor resistance holds. Further fall should be seen to 141.99 support next. As noted before, choppy rise from 139.26, as well as the three wave consolidation pattern from 139.69, has completed at 150.68 already and current decline is expected to continue to retest 139.26 low eventually. On the upside, above 144.92 will turn intraday bias neutral again and bring more sideway trading. But after all, we'll hold on to the bearish view as long as 147.25 resistance holds. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | EURGBP | 0.8706 | 0.8672 | +34 | +0.39% | | GBPJPY | 143.85 | 144.22 | -37 | -0.26% | | GBPCHF | 1.6911 | 1.6947 | -36 | -0.21% | | GBPUSD | 1.5947 | 1.5978 | -31 | -0.19% | | EURAUD | 1.5712 | 1.5682 | +30 | +0.19% | Last Updated: Feb 01, 06:50 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 01, 06:50 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 0:30 | AUD | House Price Index Q/Q Q4 | 5.20% | 3.70% | 4.20% | 4.40% | | 8:30 | CHF | SVME-PMI Jan | | 55.5 | 54.6 | | | 8:55 | EUR | German PMI Manufacturing Jan F | | 53.4 | 53.4 | | | 9:00 | EUR | Eurozone PMI Manufacturing Jan F | | 52 | 52 | | | 9:30 | GBP | PMI Manufacturing Jan | | 53.9 | 54.1 | | | 13:30 | USD | Personal Income Dec | | 0.30% | 0.40% | | | 13:30 | USD | Personal Spending Dec | | 0.30% | 0.50% | | | 13:30 | USD | PCE Core M/M Dec | | 0.10% | 0.00% | | | 13:30 | USD | PCE Core Y/Y Dec | | 1.50% | 1.40% | | | 13:30 | USD | PCE Deflator Y/Y Dec | | 2.20% | 1.50% | | | 15:00 | USD | ISM Manufacturing Jan | | 55.6 | 55.9 | | | 15:00 | USD | ISM Prices Paid Jan | | 63 | 61.5 | | | 15:00 | USD | Construction Spending M/M Dec | | -0.40% | -0.60% | | | 15:00 | USD | Treasury's Geithner Testifies to Senate Finance Committee | | -- | -- | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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