| Action Insight Mid-Day Report | Dollar and Yen Strike on Greece Contagion Concern Dollar and yen fight back today on risk aversion as European stock markets are broadly low on concern of debt-contagion in the Eurozone. ECB Vice President Papademos said that the EU/IMF aid program will "markets about the credibility of the fiscal adjustments and will contain potential contagion effects in the euro area," but markets are clearly not listening. CDS on Greece's 5 years bond rose again to 737 bps while that of Portugal also jumped to 335bps. Commodities also follow stocks lower with crude oil back below 84 while gold is trading below 1150. 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... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Buy At 123.80 Failure to extend yesterday's rise and the subsequent stronger-than-expected retreat from 126.30 suggest further consolidation would take place and weakness to 123.90/00 cannot be ruled out, however, reckon support at 123.15 would continue to hold and bring another rebound later. Above said resistance at 126.30 would revive our bullish view that c leg as well as wave ii has ended at 123.15 and extend gain to 127.00, then towards 127.69 (b leg top) but break of 127.95 is needed to confirm wave iii has commenced. Full Report Here... Trade Idea: AUD/USD - Hold Long Entered At 0.9225 Despite yesterday's rise to 0.9313, lack of follow through buying and the retreat from there suggest further consolidation would be seen but as long as Friday's low at 0.9170 holds, bullishness remains for test of indicated resistance at 0.9339, break there would bring retest of wave (i) top at 0.9389, above there would confirm wave (iii) has resumed and extend gain towards chart resistance 0.9407 and later 0.9450. Full Report Here... | | Featured Technical Report | Market Highlights | EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.3318; (P) 1.3357 (R1) 1.3423; More. EUR/USD's break of 1.3291 minor support suggests that recovery form 1.3201 has completed at 1.3417 after hitting 4 hours 55 EMA. Intraday bias is flipped back to the downside and break of 1.3201 will confirm down trend resumption. In such case, EUR/USD should target 61.8% projection of 1.4578 to 1.3443 from 1.3817 at 1.3113 next. On the upside, however, decisive break of 1.3417 resistance will mix up the near term outlook and turn focus to falling trend line resistance at 1.3623 instead. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPJPY | 143.21 | 145.21 | -200 | -1.40% | | CADJPY | 92.67 | 93.85 | -118 | -1.27% | | EURJPY | 124.16 | 125.74 | -158 | -1.27% | | CHFJPY | 86.54 | 87.57 | -103 | -1.19% | | NZDJPY | 67.14 | 67.92 | -78 | -1.16% | Last Updated: Apr 27, 13:35 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Apr 27, 13:35 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 01:30 | AUD | PPI Q/Q Q1 | 1.00% | 0.60% | -0.40% | | | 01:30 | AUD | PPI Y/Y Q1 | -0.10% | -0.60% | -1.50% | | | 01:30 | AUD | NAB Business Confidence Q1 | 17 | -- | 18 | | | 06:00 | EUR | German GfK Consumer Sentiment May | 3.8 | 3.2 | 3.2 | 3.4 | | 06:00 | EUR | German Import Price Index M/M Mar | 1.70% | 1.10% | 1.00% | | | 06:00 | CHF | UBS Consumption Indicator Mar | 1.71 | -- | 1.2 | | | 10:00 | GBP | U.K. CBI Distributive Trades Apr | 13 | 16 | 13 | | | 13:00 | USD | S&P/Case-Shiller Composite-20 Y/Y Feb | 0.60% | 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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