| Action Insight Mid-Day Report | Sterling Tumbles on M4 and Fiscal Concern Sterling dropped sharply in European session today after data showed that M4 broad money supply had its sharpest monthly fall on record. M4 fell by -1.1% in December and rose 6.4% yoy, much worse than expectation of 0.9%mom and 8.9% yoy rise. The undesirably low money growth showed the lack of response in the market in spite of BoE's GBP 200b quantitative easing program. In addition, data also showed a net GBP 15.7b of public sector net borrowing in December, which is the higher on record in that month since 1993. Full Report Here... | | Elliott Wave Analysis | Trade Idea: AUD/USD - Buy At 0.9030 As the Australian dollar retreated after intra-day rebound to 0.9147, suggesting the c leg of the wave iv decline from 0.9330 is still in progress and weakness to 0.9030/35 (50% Fibonacci retracement of 0.8735 to 0.9330) cannot be ruled out, however, loss of near term downward momentum should limit downside and reckon 0.8961 (61.8% Fibonacci retracement ) would hold and bring rebound later. Above said resistance at 0.9147 would suggest low has possibly been formed but only break of 0.9175 (previous support turned resistance) would confirm low has been formed, then headway to 0.9230/40 would follow. Full Report Here... Trade Idea: EUR/JPY - Stand Aside Although the single currency recovered after falling to 128.40 yesterday, as price has retreated again after meeting renewed selling at 129.31 today, suggesting the decline from 134.37 may extend marginal weakness towards 128.00, however, as broad outlook remains consolidative, reckon support at 127.32 should remain intact, bring another rally later. Full Report Here... | | Featured Technical Report | Market Highlights | GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.6232; (P) 1.6301; (R1) 1.6359; More GBP/USD's decisive break of 1.6209 support affirms that case that corrective rise from 1.5829 has completed with three waves up to 1.6456 already. Intraday bias is flipped back to the downside and further decline should be seen to retest 1.5829 support first. Break there will confirm that whole fall from 1.6875 is resuming for 1.5706 key cluster support. on the upside, above 1.6311 minor resistance will turn intraday bias neutral and mixes up the short term outlook. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPUSD | 1.6173 | 1.6290 | -117 | -0.72% | | GBPAUD | 1.7774 | 1.7896 | -122 | -0.69% | | USDJPY | 91.77 | 91.24 | +53 | +0.58% | | AUDJPY | 83.49 | 83.01 | +48 | +0.57% | | GBPCAD | 1.6949 | 1.7043 | -94 | -0.55% | Last Updated: Jan 21, 13:00 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 21, 13:00 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 21:45 | NZD | Retail Sales M/M Nov | 0.80% | 0.60% | 0.00% | 0.10% | | 21:45 | NZD | Retail Sales Ex-Auto M/M Nov | 0.80% | 0.30% | 0.50% | -0.10% | | 8:30 | EUR | German PMI Manufacturing Jan A | | 52.9 | 52.7 | | | 8:30 | EUR | German PMI Services Jan A | | 53 | 52.7 | | | 9:00 | EUR | Eurozone PMI Services Jan A | | 53.8 | 53.6 | | | 9:00 | EUR | Eurozone PMI Manufacturing Jan A | | 51.9 | 51.6 | | | 9:00 | EUR | ECB Monthly Bulletin | | -- | -- | | | 9:30 | GBP | Public Sector Net Borrowing (GBP) Dec | | 19.0B | 20.3B | | | 9:30 | GBP | M4 Money Supply M/M Dec P | | 0.90% | 0.10% | | | 9:30 | GBP | M4 Money Supply Y/Y Dec P | | 8.90% | 9.30% | | | 10:00 | CHF | ZEW Expectations Jan | | -- | 54 | | | 11:00 | GBP | U.K. CBI Quarterly Industrial Trends Jan | | -39 | -42 | | | 13:30 | CAD | Wholesale Sales M/M Nov | | 0.40% | 0.30% | | | 13:30 | USD | Initial Jobless Claims | | 440K | 444K | | | 15:00 | USD | Philadelphia Fed Survey Jan | | 18 | 20.4 | | | 15:00 | USD | Leading Indicators Dec | | 0.70% | 0.90% | | | 15:30 | USD | Natural Gas Storage | | -214B | -266B | | | 16:00 | USD | Crude Oil Inventories | | 2.2M | 3.7M | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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