| Action Insight Mid-Day Report |
Dollar Firm on Concern of European Debts, BoE and ECB on Hold Dollar remains firm in early US session as markets are shifting focus to budget woes of Eurozone. Yen also manages to rally against major currencies on weaker stocks and commodities. Euro weakens today on concern that Portugal, Spain and Eastern Europe governments will struggle to fund the budget deficits as their plans for deficit-reduction are "far less ambitious" than that of Greece. ECB left rates unchanged at 1.00% as widely expected. Full Report Here... |
| Special Report |
2010 Currency Outlook: CHF The SNB was one of the most aggressive central banks in implementing loose monetary policies to fight against the recent recession. Between October 2008 and March 2009, the SNB has reduced the 3-month LIBOR target rate by 250 bps to 0.25%. In March, the central bank also announced a series of liquidity provision programs including additional repo operations and purchases of Swiss franc bonds issued by private sector borrowers. The central bank also declared to purchase foreign currency on the foreign exchange market so as to prevent any further appreciation of the Swiss franc against the euro. Full Report Here... |
| Elliott Wave Analysis |
Trade Idea: EUR/JPY - Buy On Break Of 127.08 Despite rising to 126.98 yesterday, the single currency failed to penetrate indicated resistance at 127.08 and has retreated, suggesting further consolidation would take place and retest of support at 124.45 cannot be ruled out, break there would signal the final leg of wave v is in progress for weakness towards 123.99 (61.8% projection of 133.65 to 126.55 measuring from 128.38), however, reckon 123.00 (100% projection of 138.49 to 126.95 measuring from 134.54) would hold. Full Report Here... Trade Idea: AUD/USD - Buy At 0.8740 The Australian did falter below indicated resistance at 0.8928 and has fallen again, suggesting the last leg of wave c is still in progress and whilst weakness towards support at 0.8735 cannot be ruled out, loss of momentum would limit downside to 0.8700 and bring rebound later. Above said resistance would confirm low has been formed and bring stronger rebound towards next resistance at 0.9049. Full Report Here... |
| Featured Technical Report | Market Highlights |
GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.5819; (P) 1.5944; (R1) 1.6012; More GBP/USD's break of 1.5829 support confirms that whole decline from 1.6875 has resumed. Intraday bias remains on the downside for the moment and further fall should be seen to 1.5706 key cluster support. on the upside, above 1.5918 minor resistance will turn intraday bias neutral and bring some recovery. But another fall is still expected as long as 1.6067 resistance holds. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDJPY | 62.92 | 63.86 | -94 | -1.49% | | NZDUSD | 0.6951 | 0.7021 | -70 | -1.01% | | EURJPY | 125.20 | 126.40 | -120 | -0.96% | | AUDJPY | 79.58 | 80.31 | -73 | -0.92% | | GBPJPY | 143.47 | 144.51 | -104 | -0.72% | Last Updated: Feb 04, 13:50 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 04, 13:50 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 21:45 | NZD | Employment Change Q/Q Q4 | -0.10% | -0.10% | -0.80% | | | 21:45 | NZD | Employment Change Y/Y Q4 | -2.40% | -2.50% | -1.80% | | | 21:45 | NZD | Unemployment Rate Q4 | 7.30% | 6.80% | 6.50% | | | 00:30 | AUD | Retail Sales M/M Dec | -0.70% | 0.30% | 1.40% | 1.50% | | 07:15 | CHF | Trade Balance (CHF) Dec | 1.36B | 2.33B | 2.14B | 1.98B | | 11:00 | EUR | German Factory Orders M/M Dec | -2.30% | 0.20% | 2.80% | 2.70% | | 11:00 | EUR | German Factory Orders Y/Y Dec | 8.40% | 9.60% | 4.50% | | | 12:00 | GBP | BoE Interest Rate Decision | 0.50% | 0.50% | 0.50% | | | 12:00 | GBP | BoE Asset Purchase Target | 200B | 200B | 200B | | | 12:45 | EUR | ECB Interest Rate Decision | 1.00% | 1.00% | 1.00% | | | 13:30 | EUR | ECB Press Conference | | -- | -- | | | 13:30 | CAD | Building Permits M/M Dec | 2.40% | 3.50% | -4.60% | | | 13:30 | USD | Non-Farm Productivity Q4 P | 6.20% | 5.20% | 8.10% | | | 13:30 | USD | Unit Labor Costs Q4 P | -4.40% | -2.10% | -2.50% | | | 13:30 | USD | Initial Jobless Claims | 480K | 460K | 470K | | | 15:00 | CAD | Ivey PMI Jan | | 51.8 | 48.4 | | | 15:00 | USD | Factory Orders Dec | | 0.90% | 1.10% | | | 15:30 | USD | Natural Gas Storage | | -123B | -86B | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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