| Action Insight Daily Report | Markets Lack Direction, Euro's Recovery Limited by Greece Uncertainties Markets are lacking a clear direction for the moment. Dollar gained some footing as US equities pared earlier gain yesterday and closed nearly flat. Japanese yen also recovered from lows on as Asian equities are generally soft. Euro's recovery continues to be limited by uncertainty over the Greece situation. German Chancellor Merkel emphasized that Greece must do its "homework first" and have a "sustainable plan to cut the budget deficit before Germany approves the fund for the EUR 45b EU/IMF aid package. Markets are concerned that the German government may delay the extension of financial aid while Greece is facing the May 19 decline for refinancing EUR 8.5b of debts. Full Report Here... | | Special Reports | Fed to Upgrade Economic Assessment and Keep 'Exceptionally Low Rate', 'Extended Period' Language Regarding the FOMC meeting in April, the market has debated about retention of the 'extended period' language in the policy statement. While economic data have shown solid improvement in various aspects, the Fed will continue to keep its Fed funds rate unchanged at 0-0.25% on April 28 and we do not see the Fed will remove the language for the time being. Rather, policymakers will revise up economic assessment despite warning employment situation. Full Report Here... RBNZ to Leave Rates Unchanged at 2.5%, May Change the 'Middle of 2010' Statement Similar to the consensus, we expect the RBNZ will keep the OCR at 2.5% at the meeting on April 29. Therefore, focus of the meeting is on the central bank's economic outlook as well as its implications on monetary stance. The RBNZ has guided in the post-meeting statement that it would 'begin removing policy stimulus around the middle of 2010' since April 2009 with brief modification in December. As we approaches 'the middle of 2010', we are interested to see if the central bank will make any change to the sentence. In our opinion, the RBNZ will change it to a conditional statement, saying a rate hike in coming months depending on economic data and inflation outlook. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: EUR/USD - Sell At 1.3480 Despite yesterday's retreat to 1.3291, as the single currency rebounded again after holding above indicated support at 1.3250/60 as suggested in our previous update, further consolidation would take place and recovery to 1.3445/50 (approx. 50% Fibonacci retracement of 1.3692 to 1.3201) would be seen, however, renewed selling interest should emerge below 1.3490 (100% projection of 1.3201 to 1.3400 measuring from 1.3291) and the Ichimoku cloud top (now at 1.3517) should hold, bring another decline later. Break of yesterday's low would suggest the recovery from 1.3201 has possibly ended and below 1.3250 confirms, then resumption of recent decline would bring retest of 1.3201, then towards 1.3140/50. Full Report Here... Trade Idea: USD/JPY - Buy At 93.35 As the greenback retreated after faltering below resistance at 94.43 (Friday's high), suggesting consolidation would be seen and pullback to the Kijun-Sen (now at 93.55) but reckon renewed buying interest would emerge around 93.35 (38.2% Fibonacci retracement of 91.60 to 94.43) and support at 92.74 should hold, bring another rise later. Above said resistance would signal upmove has resumed for retest of resistance at 94.78, above there would encourage for further gain to 95.10 (61.8% Fibonacci retracement of 101.45-84.82) but 95.73 (1.618 times projection of 91.60-93.45 measuring from 92.74) is likely to hold from here. Full Report Here... | | Featured Technical Report | Market Highlights | USD/CAD Daily Outlook Daily Pivots: (S1) 0.9977; (P) 1.0000; (R1) 1.0030; More. The lack of following through selling suggests that USD/CAD's choppy consolidation from 0.9929 is still in progress and turns intraday bias neutral again. Note that while another rise cannot be ruled out, upside is still expected to be limited well below 1.0214 resistance and bring fall resumption. Break of 0.9929 will target 61.8% projection of 1.1723 to 1.0205 from 1.0779 at 0.9841, which is close to 0.9823 support. After all, decisive break of 1.0214 resistance is needed to indicate that USD/CAD has bottomed. Otherwise, outlook will remain bearish. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDJPY | 67.60 | 67.92 | -32 | -0.47% | | NZDUSD | 0.7200 | 0.7231 | -31 | -0.43% | | GBPJPY | 144.76 | 145.21 | -45 | -0.31% | | AUDJPY | 86.84 | 87.08 | -24 | -0.28% | | GBPUSD | 1.5416 | 1.5457 | -41 | -0.27% | Last Updated: Apr 27, 07:05 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Apr 27, 07:05 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 1:30 | AUD | PPI Q/Q Q1 | 1.00% | 0.60% | -0.40% | | | 1:30 | AUD | PPI Y/Y Q1 | -0.10% | -0.60% | -1.50% | | | 1:30 | AUD | NAB Business Confidence Q1 | 17 | -- | 18 | | | 6:00 | EUR | German GfK Consumer Sentiment May | 3.8 | 3.2 | 3.2 | 3.4 | | 6:00 | EUR | German Import Price Index M/M Mar | 1.70% | 1.10% | 1.00% | | | 6:00 | CHF | UBS Consumption Indicator Mar | 1.71 | -- | 1.2 | | | 10:00 | GBP | U.K. CBI Distributive Trades Apr | | 16 | 13 | | | 13:00 | USD | S&P/Case-Shiller Composite-20 Y/Y Feb | | 0.80% | -0.70% | | | 14:00 | USD | Consumer Confidence Apr | | 53.7 | 52.5 | | | 14:00 | USD | Fed Chairman Bernanke Speaks | | -- | -- | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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