| Action Insight Weekly Report |
Euro Broadly Lower on Greece Concern, More Downside Ahead Euro was broadly pressured last week on growing concern of Greece's large deficits and doubts over its sovereign creditworthiness, in particular after ECB Trichet made it clear that there will not be any special treatment to a signal member of the Eurozone. Yen rose against most major currencies on risk aversion on as China stepped up its measures to cool lending. Sterling, on the other hand, was supported by speculations that BoE will let the asset purchase program expire in February. Dollar was initially pressured by risk appetite, but later rebounded strongly, with the help of weakness in Euro and crude oil. Full Report Here... |
| Special Report |
2010 Currency Outlook: EUR In the near-term, we see further upside for the euro against the dollar as strong global economic recovery and a broad-based low interest rate environment continues to favor 'higher-yield' assets. Moreover, the disappointing US non-farm payrolls in December evaporated much speculation about an early Fed tightening. Renewed weakness in USD, after a strong recovery in late-2009, should persist for a few months before favorable data emerge again. Full Report Here... |
| Featured Technical Report | Market Highlights |
EUR/JPY Weekly Outlook After edging higher to 134.36, EUR/JPY reversed and fell sharply to as low as 130.29. The development indicates that rise from 127.50 has completed at 134.36, ahead of 134.54 resistance on a small head and shoulder top pattern. Also, it suggests that recent price actions from 126.88 are merely consolidation to fall from 138.47 and should have completed too. Initial bias will remain on the downside this week and further decline should be seen to 126.88/127.50 support zone. On the upside, above 131.67 minor resistance will turn intraday bias neutral and bring consolidations. But recovery is expected to be limited well below 133.62 resistance and bring fall resumption. Read more... All Technical Outlook Reports | Weekly Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | CHFJPY | 88.45 | 90.48 | -203 | -2.30% | | AUDJPY | 83.76 | 85.64 | -188 | -2.24% | | EURJPY | 130.59 | 133.50 | -291 | -2.23% | | USDJPY | 90.77 | 92.65 | -188 | -2.07% | | CADJPY | 88.17 | 89.96 | -179 | -2.03% | Currency Heat Map Weekly View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | |
| Suggested Readings |
The Week in Review and Preview |
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