| Action Insight Mid-Day Report |
Dollar Lifted by PBoC Yield Hike and Japan FM Comments Dollar strengthens broadly into US session after comments from new Finance Minister Naoto Kan sent USD/JPY above 93 level. Risk aversion also helped the greenback after surprised yield hike from People's Bank of China to curb record lending. European majors are generally lower against the greenback with Sterling under pressure after a non-eventful BoE announcement. Aussie also pared earlier gains and dropped sharply from today's high of 0.9264 to 0.916 level. Nevertheless, Canadian dollar is relatively resilient as crude oil is still managing to stay above 82 level. Full Report Here... |
| Elliott Wave Analysis |
Trade Idea: EUR/JPY - Buy At 132.60 Euro's strong rebound from 131.26 signals correction from 133.79 has ended there and consolidation with upside bias remains for a 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 0.9100 As the Australian dollar has finally retreated after rising to 0.9268 today, suggesting minor wave (iii) has possibly ended there and consolidation would be seen in minor wave (iv) of iii back to 0.9100 (approx. the previous 4th of one lesser degree) before prospect of another upmove in wave (v) of iii later today or tomorrow. Above said resistance at 0.9268 would extend upmove to 0.9290/00 first. Full Report Here... |
| Featured Technical Report | Market Highlights |
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 91.64; (P) 92.19; (R1) 92.85; More. USD/JPY's rise from 91.24 extends further today and the break of 93.20 resistance indicates that whole rally from 84.81 is still in progress and has resumed. Intraday bias is flipped back to the upside and further rise could now be seen towards medium term trend line resistance at 95.08 and 55 weeks EMA at 94.21. ON the downside, though a break of 92.08 minor support will serve as a signal that USD/JPY has topped out and will flip intraday bias back to the downside for 91.24 support first and then 87.36. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | CADJPY | 90.25 | 89.40 | +85 | +0.94% | | USDJPY | 93.14 | 92.31 | +83 | +0.89% | | AUDJPY | 85.56 | 84.89 | +67 | +0.78% | | USDCHF | 1.0351 | 1.0275 | +76 | +0.73% | | GBPCAD | 1.6427 | 1.6535 | -108 | -0.66% | Last Updated: Jan 07, 13:50 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 07, 13:50 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 21:45 | NZD | Trade Balance (NZD) Nov | -269M | -397M | -487M | -495M | | 00:30 | AUD | Retail Sales M/M Nov | 1.40% | 0.40% | 0.30% | 0.40% | | 01:30 | AUD | Trade Balance (AUD) Nov | -1.70B | -1.79B | -2.38B | -2.08B | | 08:15 | CHF | CPI M/M Dec | -0.20% | 0.00% | 0.20% | | | 08:15 | CHF | CPI Y/Y Dec | 0.30% | 0.50% | 0.00% | | | 10:00 | EUR | Eurozone Retail Sales M/M Nov | -1.20% | 0.00% | 0.10% | 0.20% | | 10:00 | EUR | Eurozone Retail Sales Y/Y Nov | -4.00% | -1.90% | -1.50% | -1.30% | | 10:00 | EUR | Eurozone Consumer Confidence Dec | -16 | -16 | -17 | | | 10:00 | EUR | Eurozone Economic Confidence Dec | 91.3 | 90 | 88.8 | | | 10:00 | EUR | Eurozone Industrial Confidence Dec | -16 | -17 | -19 | | | 10:00 | EUR | Eurozone Services Confidence Dec | -3 | -3 | -4 | | | 11:00 | EUR | German Factory Orders M/M Nov | 0.20% | 1.50% | -2.10% | -1.90% | | 11:00 | EUR | German Factory Orders Y/Y Nov | 1.80% | -0.30% | -8.50% | -8.20% | | 12:00 | GBP | BoE Interest Rate Decision | 0.50% | 0.50% | 0.50% | | | 12:00 | GBP | BoE Asset Purchase Target | 200B | 200B | 200B | | | 13:30 | USD | Initial Jobless Claims | 434K | 449K | 432K | | | 15:00 | CAD | Ivey PMI Dec | | 51.5 | 55.9 | | | 15:30 | USD | Natural Gas Storage | | -147B | -124B | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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