| Action Insight Mid-Day Report | Sterling and Euro Lower on Data, Dollar Trying to Rebound Sterling was knocked down earlier today by disappointing services data while Euro also weakens on downward revision in Q4 GDP. Dollar manages to recover against commodity currencies too, riding on lower crude oil and stock futures. Meanwhile, yen also follows dollar higher against major currencies. Also, Canadian dollar seems to have lost steam after failing to sustain above parity against the greenback, weighed down by oil and poor housing data. Full Report Here... | | Special Report | The Fed Stays Dovish. 'Extended Period' Does Not Refer To Calendar Time But Economic Development The FOMC minutes for March's meeting unveiled the Fed's dovish monetary outlook. While forecasts of real economic activities remained largely unchanged from previous meeting, policymakers were surprised by deceleration of inflation. At the same time, the Fed noted unemployment would be undermining recovery. Concerning the phrase 'extended period', the minutes indicated that it's not about calendar time but depended on evolution of the economy. Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Buy at 124.50 The single currency traded narrowly after falling marginally to 125.22 earlier today, suggesting further consolidation would be seen, however, as the sharp retreat from last week's high of 127.95 suggests the wave i of iii has formed a top there and correction in wave ii is unfolding and already reached indicated retracement target at 125.31 (38.2% Fibonacci retracement of 121.05 to 127.95), however, renewed buying interest should emerge around 124.50 (50% Fibonacci retracement) and bring another rally later. Only above 126.90-127.00 would signal pullback from 127.95 is over and bring retest of this level later. Full Report Here... Trade Idea: AUD/USD - Buy at 0.9180 Aussie's firmness after rising to 0.9289 yesterday suggests recent upmove remains in force as the wave 3 and further gain to resistance at 0.9331 would be seen, above there would extend towards next chart point at 0.9407. Our preferred count is that the major rise from 0.6007 a wave (B) and the wave C of this 3-legged (B) commenced from 0.6248 which ended at 0.9407. then the fall from 0.9407 to 0.8735 is wave A and the rise from 0.8735 to 0.9331 is re-labeled as a-b-c wave B (as marked in the attached chart). Therefore, the decline from 0.9331 is the wave C with minor wave i ended at 0.9175 and wave ii at 0.9280, wave iii has ended at 0.8781, wave iv ended at 0.8916 with wave v at 0.8578. The rally to 0.9253 is the wave 1 of iii and the retreat from there was wave 2 of iii and should have ended at 0.9001, and wave 3 should head towards resistance at 0.9407. Full Report Here... | | Featured Technical Report | Market Highlights | EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.3336; (P) 1.3417 (R1) 1.3478; More. Intraday bias in EUR/USD remains cautiously on the downside for 1.3266 low. As discussed before, recovery from 1.3266 should have completed at 1.3590 already. Decisive break of 1.3255 will confirm down trend resumption and should target 100% projection of 1.3817 to 1.3266 from 1.3590 at 1.3039 next, which is close to 1.3 psychological level. On the upside, above 1.3408 minor resistance will indicate that the downside is not ready to resume yet and another rise might be seen towards 1.3817 resistance before correction from 1.3266 concludes. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
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(%) | | GBPJPY | 142.40 | 143.16 | -76 | -0.53% | | GBPUSD | 1.5188 | 1.5265 | -77 | -0.51% | | EURJPY | 125.07 | 125.66 | -59 | -0.47% | | CHFJPY | 87.34 | 87.73 | -39 | -0.45% | | GBPCAD | 1.5218 | 1.5285 | -67 | -0.44% | Last Updated: Apr 07, 13:10 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Apr 07, 13:10 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:01 | GBP | BRC Shop Price Index Mar | 1.20% | -- | 1.70% | | | 03:01 | JPY | BoJ Interest Rate Decision | 0.10% | 0.10% | 0.10% | | | 07:15 | CHF | Retail Sales (Real) Y/Y Feb | 3.10% | 3.80% | 4.40% | 3.70% | | 07:55 | EUR | German PMI Services Mar F | 54.9 | 54.7 | 54.7 | | | 08:00 | EUR | Eurozone PMI Services Mar F | 54.1 | 53.7 | 53.7 | | | 08:30 | GBP | PMI Services Mar | 56.5 | 58 | 58.4 | | | 08:30 | GBP | Index of Services 3M/3M Jan | 0.60% | 0.70% | 0.50% | | | 09:00 | EUR | Eurozone GDP Q/Q Q4 F | 0% | 0.10% | 0.10% | | | 09:00 | EUR | Eurozone GDP Y/Y Q4 F | -2.20% | -2.10% | -2.10% | | | 09:00 | EUR | Eurozone PPI M/M Feb | 0.10% | 0.20% | 0.70% | | | 09:00 | EUR | Eurozone PPI Y/Y Feb | -0.50% | -0.40% | -1.00% | | | 10:00 | EUR | German Factory Orders M/M Feb | 0% | -0.50% | 4.30% | | | 10:00 | EUR | German Factory Orders Y/Y Feb | 24.50% | 22.60% | 19.60% | | | 12:30 | CAD | Building Permits M/M Feb | -0.50% | 2.00% | -4.90% | | | 14:00 | CAD | Ivey PMI Mar | | 55 | 51.9 | | | 14:30 | USD | Crude Oil Inventories | | 1.0M | 2.9M | | | 16:00 | USD | Fed's William Dudley Speaks | | -- | -- | | | 17:30 | USD | Fed Chairman Ben Bernanke Speaks | | -- | -- | | | 18:00 | USD | Fed's Thomas Hoenig Speaks | | -- | -- | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors |  The World MoneyShow Hong Kong, April 21-23, 2010 at the Grand Hyatt Hong Kong! You'll meet legendary investment experts Steve Forbes, Mark Mobius, Marc Faber, Alexander Elder, John Bollinger, and many others. You will hear and profit from the experts' in-depth insights into global macroeconomics, equities, futures, forex, asset allocation, and more! Conference details and Registration! 
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