| Action Insight Weekly Report |
Commodity Currencies Soared in New Year, Dollar Consolidations Continued Australia dollar and Canadian dollar shined last week on strong rally in commodities and strength in global stocks. Dollar was lower following dovish FOMC minutes as well as disappointing job report. Rally in crude oil and rebound in gold also put some pressure on the greenback. But after all, the weakness against European currencies was limited so far. Japanese yen was generally lower as new Finance Minister Kan expressed his position on a weaker yen. After all dollar's consolidation would likely extend for some time but we'd expect strong broad-based rally after crude oil and gold peak. Meanwhile, Japanese yen would remains soft in near term too but we're also expecting the yen to rebound as selling momentum diminishes. Full Report Here... |
| Special Report |
2010 Currency Outlook: USD After strong rallies in 2008 and early 2009, USD peaked in March. In order to combat the worst recession since the World War II, the Fed reduced the policy rate to an unprecedentedly low level and implemented a series of quantitative easing policies. The 'twin deficits' problem (current account and fiscal deficits) has put USD's status as the reserve currency at risks and triggered investors to dump the currency. Worries about the dollar's future as well as increase in risk appetite as global economic outlook recovered later in 2009 brought the greenback to extremely low levels. Full Report Here... |
| Featured Technical Report | Market Highlights |
AUD/USD Weekly Outlook AUD/USD rose strongly to as high as 0.9264 last week. The development left fall from 0.9404 to 0.9734 in three wave corrective structure which indicates that the pair has not topped yet. With an intraday top in place at 0.9264, some sideway trading might be seen initially this week but downside should be contained by 38.2% retracement of 0.8734 to 0.9264 at 0.9062 and bring rally resumption. Above 0.9264 will target 0.9404 resistance be beyond. Read more... All Technical Outlook Reports | Weekly Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPAUD | 1.7323 | 1.8030 | -707 | -4.08% | | GBPCAD | 1.6498 | 1.7020 | -522 | -3.16% | | AUDUSD | 0.9244 | 0.8973 | +271 | +2.93% | | AUDJPY | 85.66 | 83.45 | +221 | +2.58% | | EURAUD | 1.5578 | 1.5971 | -393 | -2.52% | 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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