| Action Insight Mid-Day Report | Dollar Lower as Euro and Sterling Lifted by Officials' Comments Dollar lost ground to Euro and Sterling in spite of some hawkish comments from Fed Plosser. Euro was lifted by comments from Greek Finance Minister George Papaconstantinou a bailout of the country is not necessary. Sterling, on the other hand, is still receiving strong support from Sentance's comments and rate speculations. Commodities are steady in consolidation with crude oil hovering around 80 level while gold is trading around 1130. Full Report Here... | | Special Report | 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... 2010 Currency Outlook: EUR In the near-term, we see further upside for the euro against the dollar as strong global economic recovery and a broad-based low interest rate environment continues to favor 'higher-yield' assets. Moreover, the disappointing US non-farm payrolls in December evaporated much speculation about an early Fed tightening. Renewed weakness in USD, after a strong recovery in late-2009, should persist for a few months before favorable data emerge again. Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Sell At 133.70 The single currency did drop to 131.64 yesterday as suggested in our previous update and although price has rebounded from intra-day low of 131.51, as temporary top has been formed at 134.37 on Monday, upside should be limited to 133.90/00 and bring another corrective decline to 131.51, break there would bring correction of the rise from 127.32 which is likely to contain weakness, bring another rally later. Full Report Here... Trade Idea: AUD/USD - Buy At 0.9130, O.C.O. Sell At 0.9300 Although aussie's intra-day rebound suggests consolidation with initial upside bias would be seen, as yesterday's fall to 0.9170 signals the wave (v) as well as wave iii has possibly ended at 0.9326, suggesting upside would be limited and bring another leg of wave iv (tentatively minor c leg) to 0.9170, then towards 0.9122 (previous 4th of one lesser degree), however, reckon 0.9100/05 would limit downside, bring another rally in wave v later. Full Report Here... | | Featured Technical Report | Market Highlights | GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.6087; (P) 1.6140; (R1) 1.6219; More GBP/USD's rebound extends further to as high as 1.6293 so far today. At this point, intraday bias remains on the upside and the corrective rise from 1.5829 is still expected to continue to 100% projection of 1.5829 to 1.6327 from 1.5896 at 1.6304 and above. Nevertheless, we'd still expect upside to be limited below 61.8% retracement of 1.6875 to 1.5829 at 1.6475 and bring resumption of the whole fall from 1.6875. On the downside, below 1.6192 minor support will turn intraday bias neutral first. Further break of 1.6062 support will indicate that such correction has possibly completed and recent fall is resuming for 1.5829 and below. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPJPY | 148.83 | 147.06 | +177 | +1.19% | | AUDJPY | 84.59 | 83.68 | +91 | +1.08% | | EURJPY | 133.14 | 131.78 | +136 | +1.02% | | CADJPY | 88.43 | 87.54 | +89 | +1.01% | | NZDJPY | 67.74 | 67.16 | +58 | +0.86% | Last Updated: Jan 13, 14:30 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 13, 14:30 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | -- | GBP | NIESR GDP Estimate Dec | | -- | 0.20% | | | 6:00 | JPY | Machine Tool Orders Y/Y Dec P | 62.80% | -- | -8.60% | -8.40% | | 9:30 | GBP | Industrial Production M/M Nov | 0.40% | 0.30% | 0.00% | | | 9:30 | GBP | Industrial Production Y/Y Nov | -6.00% | -6.10% | -8.40% | | | 9:30 | GBP | Manufacturing Production M/M Nov | 0.00% | 0.20% | 0.00% | | | 9:30 | GBP | Manufacturing Production Y/Y Nov | -5.40% | -5.10% | -7.80% | | | 15:30 | USD | Crude Oil Inventories | | 1.4M | 1.3M | | | 19:00 | USD | Fed Beige Book | | -- | -- | | | 19:00 | USD | Monthly Budget Statement Dec | | -84.9B | -120.3B | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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