| Action Insight Mid-Day Report | Sterling Lower on Retail Sales, Risk Aversion Back Risk aversion is back after taking a brief breath in European session as major European stock indices dive. Sterling is taking the lead this time after disappointment from retail sales data. Meanwhile, Canadian dollar is following closely after crude oil fails to sustain above 76 level and weakens again. Also, Canadian retail sales is a disappointment. US president Obama's proposal to curb proprietary trading will remain the major theme in today's market. Yen crosses continue to be vulnerable to equity market weakness. Though, the greenback would probably continue to consolidate against Euro as both are pressured in yen crosses. Full Report Here... | | Special Report | 2010 Currency Outlook: GBP Since January 2007, the pound has dropped -23.5% against its major trading partners with the decline against the euro slightly more than that against the dollar. Although the pound managed to gained against most of these partners in 2009, much of the return was erased in the second half of the year as BOE committed to adopt extremely loose monetary policies and economic contraction was more serious than previously anticipated. Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Sell at 129.50 Intra-day selloff below 126.95 support to 126.55 suggests the 3rd set of a-b-c of larger degree wave 2 is still in progress and only b leg ended at 134.37 (with a – 134.54, b – 127.32 and c – 134.37), hence c leg is now underway with minor wave i ended at 131.52, ii at 133.65 and wave iii has possibly ended at 126.55, so the rebound from there suggests wave iv is unfolding which may bring correction towards 129.50 (yesterday's high) before prospect of another selloff later. Full Report Here... Trade Idea: AUD/USD - Hold long entered at 0.9030 Despite intra-day brief fall to 0.8983, the rebound from there suggests consolidation with mild upside bias would be seen, however, only break of yesterday's high of 0.9147 would confirm low has been formed, then stronger rebound to 0.9175 (previous support turned resistance), above there would signal the correction from 0.9330 is over and headway to 0.9200 and 0.9250 would follow. Full Report Here... | | Featured Technical Report | Market Highlights | GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.6108; (P) 1.6210; (R1) 1.6295; More GBP/USD's fall resumes after brief recovery and at this point, intraday bias remains on the downside for 1.5829 low. Break there will confirm that whole decline from 1.6875 has resumed and should target key cluster support level at 1.5706. On the upside, above 1.6284 will delay the bearish view and turn focus back to 61.8% retracement of 1.6875 to 1.5829 at 1.6475. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPAUD | 1.7803 | 1.7989 | -186 | -1.04% | | EURGBP | 0.8762 | 0.8695 | +67 | +0.76% | | AUDCAD | 0.9540 | 0.9470 | +70 | +0.73% | | GBPCHF | 1.6773 | 1.6885 | -112 | -0.67% | | GBPJPY | 145.48 | 146.43 | -95 | -0.65% | Last Updated: Jan 22, 13:40 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 22, 13:40 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 00:30 | AUD | Import Price Index Q/Q Q4 | -4.30% | -1.80% | -3.00% | | | 04:30 | JPY | All Industry Activity Index M/M Nov | 0.10% | 0.10% | 1.20% | 1.10% | | 09:30 | GBP | Retail Sales M/M Dec | 0.30% | 1.10% | -0.30% | | | 09:30 | GBP | Retail Sales Y/Y Dec | 2.10% | 3.00% | 3.10% | 2.70% | | 10:00 | EUR | Eurozone Industrial New Orders M/M Nov | 1.60% | 0.50% | -2.20% | -1.90% | | 10:00 | EUR | Eurozone Industrial New Orders Y/Y Nov | -1.50% | -7.10% | -14.50% | -14.40% | | 13:30 | CAD | Retail Sales M/M Nov | -0.30% | -0.30% | 0.80% | | | 13:30 | CAD | Retail Sales Less Autos M/M Nov | 0.00% | 0.20% | 0.20% | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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