| Action Insight Mid-Day Report |
Dollar Consolidation Continues, Aussie Remains Soft Dollar continues to consolidate as global stocks recover. Sterling was lifted by better than construction PMI while Euro is lifted by stronger than expected PPI reading. Nevertheless, the retreat in dollar is so far mild. More apparent strength is seen in Canadian dollar which is supported by crude oil's rebound to above 75 level. Aussie was sold off earlier today as RBA unexpected left rates unchanged and remains soft in early US session. Full Report Here... |
| Special Report |
RBA Warrants Doing Less as China is Doing More As a surprise to the market, the RBA announced to keep the overnight cash rate unchanged at 3.75%, following 3 consecutive raises last year, as policymakers would like to gauge the impact of previous hikes and stimulus withdrawal. Full Report Here... |
| Elliott Wave Analysis |
Trade Idea: EUR/JPY - Buy On Break Of 127.08 Although the single currency rebounded after falling to 124.45 yesterday, break of 127.08 resistance is needed to confirm low has been formed there as wave v and bring stronger rebound to 128.38, then towards 129.00/10 but reckon resistance at 129.50 would hold from here. Full Report Here... Trade Idea: AUD/USD - Buy At 0.8750 Aussie ran into heavy offers this morning at 0.8928 this morning and fell sharply from there, suggesting the decline from 0.9331 remains in progress and weakness towards 0.8750 cannot be ruled out, however, loss of near term downward momentum should limit downside to recent low at 0.8735 and bring another rebound later. Above 0.8928 would signal low has possibly been formed and bring stronger rise towards 0.8960/65, then test of resistance at 0.9049, once this level is penetrated, this would confirm and extend gain to 0.9095/00 later. Full Report Here... |
| Featured Technical Report | Market Highlights |
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 90.01; (P) 90.48; (R1) 91.07; More. Outlook in USD/JPY remains unchanged. While further recovery cannot be ruled out, fall from 93.74 is still in favor to continue as long as 91.86 resistance holds. Below 89.97 will flip intraday bias back to the downside. Break of 89.13 will confirm fall resumption to 87.36 support next. As discussed before, break of 87.36 will also confirm the bearish case that whole rise from 84.10 has completed with three waves up to 93.74 already and that medium term down trend is resuming for another low below 84.81. However break of 91.86 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 | 79.92 | 80.75 | -83 | -1.04% | | EURAUD | 1.5788 | 1.5626 | +162 | +1.03% | | AUDCAD | 0.9363 | 0.9455 | -92 | -0.98% | | AUDUSD | 0.8829 | 0.8913 | -84 | -0.95% | | AUDNZD | 1.2461 | 1.2575 | -114 | -0.91% | Last Updated: Feb 02, 13:45 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 02, 13:45 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:50 | JPY | Monetary Base Y/Y Jan | 4.90% | 4.90% | 5.20% | | | 0:30 | AUD | NAB Business Confidence Dec | 8 | -- | 19 | | | 3:30 | AUD | RBA Interest Rate Decision | 3.75% | 4.00% | 3.75% | | | 6:45 | CHF | SECO Consumer Confidence Jan | -7 | -10 | -14 | | | 7:00 | EUR | German Retail Sales M/M Dec | 0.80% | 0.90% | -1.10% | -1.70% | | 7:00 | EUR | German Retail Sales Y/Y Dec | -2.50% | -2.50% | -2.80% | -2.50% | | 9:30 | GBP | PMI Construction Jan | 48.6 | 47.7 | 47.1 | | | 10:00 | EUR | Eurozone PPI M/M Dec | 0.10% | 0.00% | 0.10% | 0.20% | | 10:00 | EUR | Eurozone PPI Y/Y Dec | -2.90% | -3.00% | -4.40% | | | 15:00 | USD | Pending Home Sales M/M Dec | | 0.60% | -16.00% | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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