| Action Insight Mid-Day Report |
Dollar Recovers after Housing Data, Helped by Rally in USD/JPY Dollar is trying to recover against Euro and Swiss in early US session after release of better than expected new residential construction data. Housing starts rose more than expected to 591k annualized rate in January while building permits dropped to 621k but was above expectation of 620k. NAHB index released yesterday also showed improvement to 17 in February. Industrial production also rose more than expected by 0.9% in January. The greenback is helped by strong rally in USD/JPY and pared some of this week's loss against Euro and Swissy. Nevertheless, it's still soft against commodity currencies. Focus now turns to FOMC minutes to be released later today. Full Report Here... |
| Elliott Wave Analysis |
Trade Idea: EUR/JPY - Buy At 123.50 The single currency rallied in line with our expectation, reaching our indicated upside target at 124.30 and the breach of resistance at 124.28 signal the wave v of larger degree c leg has ended at 120.70, hence further gain towards 125.00 and later towards resistance at 126.98. Full Report Here... Trade Idea: AUD/USD - Exit Short Entered At 0.9000 As the Australian dollar has maintained a firm undertone, suggesting the decline from 0.9331 has possibly ended at 0.8578 as the wave C, hence, upside risk remains for further gain to 0.9100, however, only break of 0.9175 (wave i tough) would confirm this view. Full Report Here... |
| Featured Technical Report | Market Highlights |
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 89.87; (P) 90.05; (R1) 90.19; More. USD/JPY's rebound from 88.57 accelerated today and reached as high as 91.09 so far. Further rise could still be see. But after all, we'd still expect fall from 93.74 to continue as long as 91.26 resistance holds. BElow 90.13 minor support should flip intraday bias back to the downside for 88.57 support and then 87.36. However, decisive break of 91.26 will invalidate the bearish view and suggest that rise from 84.81 is still in progress for another high above 93.74. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | AUDJPY | 82.10 | 81.30 | +80 | +0.97% | | NZDJPY | 64.28 | 63.71 | +57 | +0.89% | | USDJPY | 90.91 | 90.13 | +78 | +0.86% | | CADJPY | 87.09 | 86.38 | +71 | +0.82% | | GBPJPY | 143.41 | 142.31 | +110 | +0.77% | Last Updated: Feb 17, 14:05 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 17, 14:05 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:30 | AUD | Westpac Leading Index M/M Dec | 0.50% | -- | 1.00% | | | 23:50 | JPY | Tertiary Industry Index M/M Dec | -0.90% | -0.20% | -0.20% | -0.10% | | 9:30 | GBP | BoE Meeting Minutes | | -- | -- | | | 9:30 | GBP | Jobless Claims Change Jan | | -10.0K | -15.2K | | | 9:30 | GBP | Claimant Count Rate Jan | | 5.00% | 5.00% | | | 9:30 | GBP | ILO Unemployment Rate (3M) Dec | | 7.80% | 7.80% | | | 10:00 | EUR | Eurozone Trade Balance (EUR) Dec | | 3.9B | 3.9B | | | 13:30 | CAD | Wholesale Sales M/M Dec | | -- | 2.50% | | | 13:30 | USD | Housing Starts Jan | | 580K | 557K | | | 13:30 | USD | Building Permits Jan | | 620K | 653K | | | 13:30 | USD | Import Price Index M/M Jan | | 0.80% | 0.00% | | | 14:15 | USD | Industrial Production Jan | | 0.80% | 0.60% | | | 14:15 | USD | Capacity Utilization Jan | | 72.60% | 72.00% | | | 19:00 | USD | FOMC Meeting Minutes | | -- | -- | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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