| Action Insight Daily Report |
Euro Gapped Higher on EUR 45b Greece Rescue Deal Euro gapped higher across the board as the week starts on news that Eurozone members finally announced a deal to provide Greece 3-year loans up to 30B euro. At an interest rate of around 5%, the borrowing cost is below-market rate as 3-year Greek bonds yielded almost 7% last Friday. The EU will be meeting with the IMF today in Brussels to discuss about the IMF's involvement. It's anticipated the world lender will contribute 1/3 of the whole package. Hence, it's expected the IMF will provide around 15B euro, making the total amount of the package 45B euro. Full Report Here... |
| Special Report |
EU Announced Details of Loans to Greece. Will Meet with the IMF for Finalization at Brussels Today Surge in Greek bond yields and credit downgrade by Fitch Rating eventually triggered European leaders to announce a more concrete plan to rescue the debt-ridden Greece. Over the weekend, EU finance ministers held a conference call and discussed about the details of a rescue plan on a proposed financial rescue package for Greece. The EU will be meeting with the IMF today in Brussels to discuss about the IMF's involvement. It's anticipated the world lender will contribute 1/3 of the whole package. Note that Greece has not yet activated the plan but it should decide in coming days. Full Report Here... |
| Candlesticks & Ichimoku Analysis |
Trade Idea: GBP/USD - Hold Short Entered At 1.5450 Although cable surged to an intra-day high of 1.5486 this morning on the back of rally in euro, as the British pound has retreated from there, suggesting minor consolidation would take place and as long as said resistance holds, retracement to the Tenkan-Sen (now at 1.5377) is likely, break there would bring correction towards 1.5308-20 (current level of the Kijun-Sen and previous resistance turned support), however, the Ichimoku cloud top (now at 1.5222) should remain intact and bring another upmove later. Full Report Here... Trade Idea: USD/JPY - Hold Long Entered At 93.00 Although the greenback slipped to 92.97 this morning (we entered long on such move at 93.00), as dollar has rebounded from there, suggesting as long as support at 92.83 holds, consolidation with upside bias remains for test of resistance at 94.27, however, break above this level is needed to confirm correction from 94.78 is over and bring retest of this recent high. Above there would confirm upmove has resumed for further headway to 95.00 and then towards 95.50 before correction later. Full Report Here... |
| Featured Technical Report | Market Highlights |
EUR/GBP Daily Outlook Daily Pivots: (S1) 0.8728; (P) 0.8755; (R1) 0.8805; More. EUR/GBP rebounds strongly to as high as 0.8846so far today but is still limited below 0.8887 support turned resistance. Hence there is no confirmation that fall from 0.9137 is finished yet. Intraday bias remains neutral for the moment. Note that fall from 0.9137 is viewed as the fifth leg of the consolidation patter that started at 0.9799. Hence, even in case of another fall, downside should be contained by 0.8601/62 support zone to conclude the consolidation finally. On the upside, break of 0.8887 support turned resistance will indicate that such fall has completed and will bring stronger rally to retest 0.9132 next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDJPY | 66.41 | 66.00 | +41 | +0.62% | | EURJPY | 125.43 | 124.74 | +69 | +0.55% | | CHFJPY | 87.48 | 87.01 | +47 | +0.54% | | GBPJPY | 143.39 | 142.63 | +76 | +0.53% | | CADJPY | 93.60 | 93.15 | +45 | +0.48% | Last Updated: Apr 09, 07:05 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Apr 09, 07:05 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:50 | JPY | BoJ Meeting Minutes | | -- | -- | | | 23:50 | JPY | Japan Money Stock M2+CD Y/Y Mar | 2.60% | 2.70% | 2.70% | | | 12:15 | CAD | Housing Starts Mar | | 200.0K | 196.7K | | | 14:30 | CAD | BOC Business Outlook Survey | | -- | 49 | | | 18:00 | USD | Monthly Budget Statement Mar | | -$87.5B | -$191.6B | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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