| Action Insight Mid-Day Report |
Speculation on Greece Bailout Lifts Euro Euro's recovery extends further today as the common currency is lifted by speculation of a bailout package from EU for Greece. The speculation started when ECB President Trichet left Australia earlier than planned to attend a council meeting on Thursday. And it's speculated that a deal for Greece bailout would be closed during the meeting. Markets elsewhere are generally in consolidation mode with dollar continue to trade with a soft tone. Commodities are generally higher with crude oil and gold pressing 73 and 1180 respectively. The greenback will possibly continue to be soft for a while as markets digest recent sharp gains. Full Report Here... |
| Elliott Wave Analysis |
Trade Idea: EUR/JPY - Buy At 121.50 Although the single currency has moved higher again and test of indicated resistance at 123.33 (Friday's high) is likely, still needs to break this level to signal the wave v of the c leg from 134.37 has possibly ended at 120.70 and bring correction of recent decline towards 124.45 (wave iii trough) and then towards 125.00. Full Report Here... Trade Idea: AUD/USD - Sell At 0.8845 The Australian dollar continued to edge higher as we suggested in our previous update and we are keeping our count that minor wave iii of recent C leg decline from 0.9331 has ended at 0.8578 and consolidation would take place in wave iv for recovery towards 0.8846 (38.2% Fibonacci retracement of wave iii from 0.9280 to 0.8578), however, renewed selling interest should emerge there and bring another decline later. Full Report Here... |
| Featured Technical Report | Market Highlights |
USD/CHF Mid-Day Outlook Daily Pivots: (S1) 1.0686; (P) 1.0729; (R1) 1.0775; More. USD/CHF's pull back from 1.0793 is still in progress and drops to as low as 1.0654 so far. Further decline could still be seen to 4 hours 55 EMA (now at 1.0612) but after all, downside is expected to be contained by 1.0497/0640 support zone and bring rally resumption. Above 1.0745 minor resistance will flip intraday bias back to the upside. Further break of 1.0793 will bring rally resumption to medium term trend line resistance at 1.0921 next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDJPY | 61.89 | 60.94 | +95 | +1.53% | | AUDJPY | 78.21 | 77.17 | +104 | +1.33% | | NZDUSD | 0.6911 | 0.6829 | +82 | +1.19% | | CADJPY | 83.87 | 82.94 | +93 | +1.11% | | EURJPY | 123.08 | 121.82 | +126 | +1.02% | Last Updated: Feb 09, 14:10 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 09, 14:10 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 0:01 | GBP | U.K. BRC Retail Sales Monitor Jan | -0.70% | -- | 4.20% | | | 0:01 | GBP | RICS House Price Balance Jan | 32% | 28% | 30% | | | 6:00 | JPY | Machine Tool Orders Y/Y Jan P | 192.00% | -- | 62.80% | 63.40% | | 7:00 | EUR | German Trade Balance (EUR) Dec | 16.7B | 14.8B | 17.4B | 17.0B | | 7:00 | EUR | German CPI M/M Jan F | -0.60% | -0.60% | -0.60% | | | 7:00 | EUR | German CPI Y/Y Jan F | 0.80% | 0.80% | 0.80% | | | 9:30 | GBP | Visible Trade Balance (GBP) Dec | -7.3B | -6.6B | -6.8B | | | 15:00 | USD | Wholesale Inventories Dec | | 0.50% | 1.50% | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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