| Action Insight Mid-Day Report |
Dollar in Range after Unimpressive US Data, Commodity Currencies Firm Dollar's earlier strength faded in European session and turns sideway since then. The greenback continues stay in tight range after release of positive, but less than impressive data from US. ISM non-manufacturing index was back above 50 but just managed to rise to 50.1 versus expectation of 50.5. The ADP report showed US economy cut -84k jobs in the private sector in December, smallest contraction since March 2008 but was slightly worse than expectation of -75k. Nevertheless, November's number was revised up from -169k to -145k. Focus now turns to FOMC minutes to be released in the US afternoon. Full Report Here... |
| Special Report |
BOE Meeting Preview: Continuing with the Status Quo Thursday's BOE will be a non-event as MPC members will likely discuss about change in monetary policy in February, the month when the quarterly Inflation Report is published. In short, policymakers should keep the policy rate at 0.5% and the size of the asset purchase program at 200B pounds. Full Report Here... |
| Elliott Wave Analysis |
Trade Idea: EUR/JPY - Buy At 132.20 Although the single currency fell to 131.26 as suggested yesterday (we indicated possible downside risk of correction to 131.32 (38.2% Fibonacci retracement of 127.32 to 133.79), current strong rebound suggest correction from 133.79 has possibly ended and consolidation with upside bias is seen for retest of this resistance but break there is needed to confirm upmove has resumed for eventual headway towards 134.54. Full Report Here... Trade Idea: AUD/USD - Buy At 0.9050 This week's rally suggests the rise from 0.8735 low remains in progress and further gain to resistance at 0.9197/00 is under way but a sustain break there is needed to signal the correction from 0.9407 has ended and extend headway towards 0.9290/00 later. Full Report Here... |
| Featured Technical Report | Market Highlights |
USD/CHF Mid-Day Outlook Daily Pivots: (S1) 1.0272; (P) 1.0316; (R1) 1.0381; More The break of 1.0324 minor support delays the immediate bullish view on USD/CHF and argues that consolidations form 1.0506 is possibly still in progress. Intraday bias is turned neutral for the moment. While another fall cannot be ruled out, downside is still expected to be contained by 1.0175 resistance turned support and bring rally resumption. Break of 1.0420 resistance will indicate that whole rise from 0.9916 is possibly resuming and should target 1.0590 medium term support turned resistance next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | AUDJPY | 84.46 | 83.60 | +86 | +1.02% | | CADJPY | 89.07 | 88.24 | +83 | +0.93% | | CHFJPY | 89.31 | 88.69 | +62 | +0.69% | | AUDNZD | 1.2489 | 1.2409 | +80 | +0.64% | | USDJPY | 92.24 | 91.70 | +54 | +0.59% | Last Updated: Jan 06, 14:35 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 06, 14:35 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:50 | JPY | Monetary Base Y/Y Dec | 5.20% | 3.50% | 3.80% | | | 08:55 | EUR | German Unemployment Change Dec | -3K | 5K | -7K | -1K | | 08:55 | EUR | German Unemployment Rate Dec | 8.10% | 8.10% | 8.10% | | | 09:30 | GBP | PMI Construction Dec | 47.1 | 47.6 | 47 | | | 10:00 | EUR | Eurozone CPI Estimate Y/Y Dec | 0.90% | 0.90% | 0.60% | 0.50% | | 13:30 | CAD | IPPI M/M Nov | 1.00% | 0.50% | -0.30% | | | 13:30 | CAD | RMPI M/M Nov | 2.20% | 1.10% | 2.50% | | | 15:00 | USD | Pending Home Sales M/M Nov | | -3.10% | 3.70% | | | 15:00 | USD | Factory Orders Nov | | 0.50% | 0.60% | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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