| Action Insight Mid-Day Report |
Dollar and Yen Pare Losses But Euro Still Firm Dollar and yen gapped lower today on news of the EUR 45b Greece bailout deal. Nevertheless both pare much of earlier losses as European stocks lost steam and turned red. Also, Euro's gain was somewhat limited by comments from German MOF that there was no decision on aid for Greece but just "technical preconditions for aid by further specifying the decision of the heads of state and governments." In any case, Euro remains firm against major currencies in near term and more upside is still likely. 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... |
| Elliott Wave Analysis |
Trade Idea: EUR/JPY - Buy At 126.20 The single currency surged this morning after the news of EU agreement of a massive rescue plan for Greece, adding credence to our view that wave ii has ended at 123.43 and wave iii is underway for gain toward resistance at 127.95 (wave i top). A break above there would extend gain towards 128.00 and then 129.00. Full Report Here... Trade Idea: AUD/USD - Buy At 0.9170 Despite intra-day rise to 0.9389, the quick retreat from there suggests the ,minor wave (i) of 3 has formed a top there and correction to 0.9224 is likely, however, break there is needed to bring stronger retracement in wave (ii) of 3 for further fall towards minor support at 0.9165/70 before prospect of another upmove in wave (iii) of 3 later. Above said resistance would extend upmove to recent high at 0.9407, then towards 0.9490/00. Full Report Here... |
| Featured Technical Report | Market Highlights |
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.3393; (P) 1.3445 (R1) 1.3550; More. EUR/USD retreats after surging to as high as 13691 but hit 55 days EMA at 1.3686 earlier today. After all, intraday bias remains on the upside with 1.3490 minor support intact. Rise from 1.3266 corrects the whole five wave fall from 1.5143 and should target 1.3817 and possibly above. On the downside, break of 1.3490 minor resistance is needed to indicate that rise from 1.3282 is completed. Otherwise, we'd continue to expect further rise even in case of deeper retreat. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | EURAUD | 1.4655 | 1.4458 | +197 | +1.34% | | EURCAD | 1.3689 | 1.3533 | +156 | +1.14% | | EURJPY | 126.97 | 125.77 | +120 | +0.95% | | CHFJPY | 88.22 | 87.41 | +81 | +0.92% | | EURUSD | 1.3613 | 1.3497 | +116 | +0.85% | Last Updated: Apr 12, 13:45 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Apr 12, 13:45 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 | 197K | 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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