| Action Insight Daily Report | Dollar and Yen Climb as China Hike Reserve Ratio, Euro Soft Despite Greece Bailout Dollar and yen rebound as the month starts on risk aversion after China announced to hike bank reserve ratios for the third time this year to curb lending. Effective on May 10, the RRR (reserve requirement ratio) will be raised to 17% for large banks and 15% for small and medium sized banks. The move is expected to drain out about CNY 300b in liquidly from the banking system. Also, Australian government proposed a new 40 percent tax on the booming profits of resource companies. Asians stocks, except Japan and China which are on holiday, are generally lower. Dollar and yen are lifted by risk aversion. Full Report Here... | | Special Reports | Greece's Bailout Concluded. Short-term Relieved But Long-term Remained Uncertain After a 3-month debate among EU leaders on whether and how to rescue the debt-ridden Greece from the risk of default, the EU Chairman Jean-Claude Juncker, the EU Commissioner, Olli Rehn, the ECB's president Jean-Claude Trichet and the Greek finance minister George Papaconstantinou announced on Sunday evening that , together with the IMF, a package of 110B euro will be provided to Greece for its funding needs over the next 3 years. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: USD/CHF - Buy at 1.0765 Although the greenback slipped to 1.0748 last Friday, as dollar found decent demand right at the Ichimoku cloud top and has rebounded, suggesting the correction from 1.0925 has possibly ended there and consolidation with upside bias would be seen. Full Report Here... Trade Idea: GBP/USD - Sell at 1.5330 Despite last week's strong rebound from 1.5126 to 1.5390, the subsequent sharp retreat from there has revived our bearishness for another fall towards said support, however, break there Full Report Here... | | Featured Technical Report | Market Highlights | USD/CHF Daily Outlook Daily Pivots: (S1) 1.0733; (P) 1.0789; (R1) 1.0833; More. USD/CHF rebounds strongly to as high as 1.0846 so far today and the development suggests that a temporary low is in place at 1.0746 after USD/CHF draws support from 4 hours 55 EMA. Intraday bias is tuned neutral. On the upside, break of 1.0923 resistance will confirm that whole rally from 1.0434 has resumed and should target 100% projection of 1.0131 to 1.0897 from 1.0434 at 1.1200 next. On the downside, in case of another fall, we'd continue to expect strong support from 1.0699 to conclude the pull back from 1.0923 and bring rally resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDCHF | 0.7894 | 0.7826 | +68 | +0.86% | | EURNZD | 1.8135 | 1.8278 | -143 | -0.79% | | AUDCHF | 1.0031 | 0.9958 | +73 | +0.73% | | EURAUD | 1.4276 | 1.4378 | -102 | -0.71% | | CADCHF | 1.0649 | 1.0584 | +65 | +0.61% | Last Updated: May 03 07:50 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | | CHF | | | | | | | | | CAD | | | | | | | | | AUD | | | | | | | | Last Updated: May 03 07:50 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 1:30 | AUD | House Price Index Q/Q Q1 | 4.80% | 3.20% | 5.20% | 5.10% | | 7:30 | CHF | SVME-PMI Apr | | 64.5 | 65.5 | | | 7:55 | EUR | German PMI Manufacturing Apr F | | 61.3 | 61.3 | | | 8:00 | EUR | Eurozone PMI Manufacturing Apr F | | 57.5 | 57.5 | | | 12:30 | USD | Personal Income Mar | | 0.30% | 0.00% | | | 12:30 | USD | Personal Spending Mar | | 0.60% | 0.30% | | | 12:30 | USD | PCE Deflator Y/Y Mar | | 2.00% | 1.80% | | | 12:30 | USD | PCE Core M/M Mar | | 0.00% | 0.00% | | | 12:30 | USD | PCE Core Y/Y Mar | | 1.30% | 1.30% | | | 14:00 | USD | ISM Manufacturing Apr | | 59.8 | 59.6 | | | 14:00 | USD | ISM Prices Paid Apr | | 74 | 75 | | | 14:00 | USD | Construction Spending M/M Mar | | -0.50% | -1.30% | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
Attend The Traders Expo in Los Angeles, June 9-12, at the Pasadena Convention Center; your best opportunity in 2010 to meet face to face with the experts, test the latest products and software, and network with other traders to find out what’s working for them…and what isn’t. Attend free, learn from trading experts, and become a more confident, profitable trader. Register FREE 
| |
No comments:
Post a Comment