| Action Insight Daily Report |
Euro Soft as Focus Turns to GDP Euro was sharply lower overnight as traders were clearly dissatisfied with the vague bailout plan for Greece. The common currency tumbled sharply against commodity currencies and were soft against dollar even though EUR/USD is still holding above recent low of 1.3585. The greenback remains mixed in general as it's facing some pressure from rebound in commodity which saw gold pressing 1100 level while crude oil stays above 75. With the focus temporarily out of Greece, focus now turns to growth data from Eurozone, as well as retail sales from US which was postponed to release today. Full Report Here... |
| Special Report |
2010 Currency Outlook: AUD In 2009, Australian dollar was the best performer among currencies in advanced economy as the country's economy was more resilient and avoided falling in recession during global financial and economic crisis last year. Moreover, the Reserve Bank of Australia was the first central bank in the world that increased interest rates 3 times last year. Full Report Here... |
| Candlesticks & Ichimoku Analysis |
Trade Idea: EUR/USD - Sell At 1.3840 Despite yesterday's fall to 1.3595, as the single currency recovered after holding support at 1.3585, suggesting further consolidation would be seen and above the Kijun-Sen (now at 1.3717) would bring another corrective rise to 1.3840-46 (previous resistance and current level of the Ichimoku cloud top) but renewed selling interest should emerge there, bring retreat later. Below said support at 1.3585 would confirm recent decline has resumed and extend weakness towards 1.3495/00, however, loss of near term downward momentum should prevent sharp fall below there and reckon 1.3434 (1.236 times projection of 1.5145 to 1.4218 measuring from 1.4580) would hold, bring a strong rebound later. Full Report Here... Trade Idea: GBP/USD - Sell At 1.5760 As cable rebounded after falling to 1.5560 yesterday, retaining our view that further consolidation above this week's low at 1.5535 would be seen, however, renewed selling interest should emerge around resistance at 1.5766 and bring another decline later. A breach of said support at 1.5535 would confirm recent decline has resumed and extend weakness to 1.5500, however, loss of near term downward momentum should prevent sharp fall below 1.5450 and reckon 1.5412 (100% projection of 1.6879 to 1.5832 measuring from 1.6459) would hold from here, bring a much-needed correction later. Full Report Here... |
| Featured Technical Report | Market Highlights |
EUR/GBP Daily Outlook Daily Pivots: (S1) 0.8665; (P) 0.8752; (R1) 0.8804; More. The sharp reversal in EUR/GBP argues that rebound from 0.8601 has possibly completed with three waves up to 0.8841 already. The three wave structure in turn argue that recent decline in EUR/GBP is possibly not over yet. Focus now turns to 0.8686. Break of this support will affirm this case and flip intraday bias back to the downside for 0.8601 low next. On the upside, though, break of 0.8841 will indicate that rise from 0.8601 is still in progress for 0.9153 resistance. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | EURUSD | 1.3673 | 1.3692 | -19 | -0.14% | | EURCAD | 1.4358 | 1.4377 | -19 | -0.13% | | NZDUSD | 0.6977 | 0.6985 | -8 | -0.11% | | USDCHF | 1.0715 | 1.0703 | +12 | +0.11% | | EURAUD | 1.5360 | 1.5377 | -17 | -0.11% | Last Updated: Feb 12, 07:20 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 12, 07:20 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 21:45 | NZD | Retail Sales M/M Dec | 0.00% | 0.70% | 0.80% | | | 5:00 | JPY | Households Confidence Jan | 39 | 38.2 | 37.6 | | | 7:00 | EUR | German GDP Q/Q Q4 P | 0.0% | 0.20% | 0.70% | | | 10:00 | EUR | Eurozone GDP Q/Q Q4 A | | 0.30% | 0.40% | | | 10:00 | EUR | Eurozone GDP Y/Y Q4 A | | -1.90% | -4.00% | | | 10:00 | EUR | Eurozone Industrial Production M/M Dec | | 0.10% | 1.00% | | | 10:00 | EUR | Eurozone Industrial Production Y/Y Dec | | -1.70% | -7.10% | | | 13:30 | CAD | New Motor Vehicle Sales M/M Dec | | 2.00% | -6.00% | | | 13:30 | USD | Advance Retail Sales Jan | | 0.30% | -0.30% | | | 13:30 | USD | Retail Sales Less Autos Jan | | 0.40% | -0.20% | | | 14:55 | USD | U. of Michigan Confidence Feb P | | 74.8 | 74.4 | | | 15:00 | USD | Business Inventories Dec | | 0.40% | 0.40% | | | 15:30 | USD | Natural Gas Storage | | -176B | -115B | | | 16:00 | USD | Crude Oil Inventories | | 1.4M | 2.3M | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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