| Action Insight Mid-Day Report | Euro Pressured by Poor ZEW, Sterling Supported by CPI, Dollar Rallies Euro was sold off after much worse then expected German ZEW. The investor confidence index dropped for the fourth consecutive months in January, and deeper than expected to 47.2 versus 50.4 in December. Eurozone ZEW economic sentiment also unexpectedly dropped to 46.4. The data suggests that German economy is still struggling to maintain momentum for recovery . ZEW president Franz said that "the way out of the recession is burdensome and long." Dollar is helped by weakness in Euro and concern of more tightening measures from China, and much stronger TIC capital flow, and rebounds strongly against most major currencies Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Sell At 131.50, O.C.O. Buy At 129.20 Although the single currency has remained under pressure and the wave (ii) decline from 134.37 should extend weakness towards 129.38 (1.5 times projection of 134.37131.52 measuring from 133.65), reckon 129.04 (1.618 times projection) would contain this wave (ii) and bring strong rebound later in wave (iii). Full Report Here... Trade Idea: AUD/USD - Buy At 0.9190 Although aussie retreated after rebounding to 0.9279 yesterday and marginal weakness from here is likely, support at 0.9170/74 should hold and bring another rebound and break of resistance at 0.9330 would extend recent rise from 0.8735 towards last year's high of 0.9407 later. Full Report Here... | | Featured Technical Report | Market Highlights | EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.4346; (P) 1.4373; (R1) 1.4410; More EUR/USD's fall from 1.4578 resumes after brief recovery and dives to as low as 1.4263 so far. As discussed before, consolidation from 1.4217 should have completed at 1.4578 already after hitting 38.2% retracement of 1.5143 to 1.4217. Intraday bias remains on the downside for the moment and firm break of 1.4256 support will suggest that whole fall from 1.5143 is resuming. In such case, EUR/USD should target 38.2% retracement of 1.2329 to 1.5143 at 1.4068 next. On the upside, though, above 1.4413 minor resistance will turn intraday bias neutral again and suggest that more consolidation would be seen before fall resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPCHF | 1.6893 | 1.6744 | +149 | +0.88% | | USDCHF | 1.0334 | 1.0247 | +87 | +0.84% | | CHFJPY | 87.91 | 88.58 | -67 | -0.76% | | EURGBP | 0.8743 | 0.8801 | -58 | -0.66% | | GBPAUD | 1.7751 | 1.7640 | +111 | +0.63% | Last Updated: Jan 19, 13:35 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 19, 13:35 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 05:00 | JPY | Households Confidence Dec | 37.6 | 40.3 | 39.5 | | | 09:30 | GBP | CPI M/M Dec | 0.60% | 0.30% | 0.30% | | | 09:30 | GBP | CPI Y/Y Dec | 2.90% | 2.60% | 1.90% | | | 09:30 | GBP | Core CPI Y/Y Dec | 2.80% | 2.30% | 1.90% | | | 09:30 | GBP | RPI M/M Dec | 0.60% | 0.30% | 0.30% | | | 09:30 | GBP | RPI Y/Y Dec | 2.40% | 2.10% | 0.30% | | | 10:00 | EUR | German ZEW (Economic Sentiment) Jan | 47.2 | 49.8 | 50.4 | | | 10:00 | EUR | German ZEW (Current Situation) Jan | -56.6 | -56.2 | -60.6 | | | 10:00 | EUR | Eurozone ZEW (Economic Sentiment) Jan | 46.4 | 48.2 | 48 | | | 13:30 | CAD | Leading Indicators M/M Dec | 1.50% | 1.00% | 1.30% | | | 14:00 | CAD | BoC Interest Rate Decision | 0.25% | 0.25% | 0.25% | | | 14:00 | USD | Net Long-term TIC Flows Nov | $126.8B | $30.0B | $20.7B | | | 18:00 | USD | NAHB Housing Market Index Jan | | 17 | 16 | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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