| Action Insight Daily Report | Daily Report: Aussie Down as RBA Signaled Pause after Rate Hike, Dollar Firm Australian dollar falls sharply today after RBA raised interest rate by 25bps to 4.50% but said that interest rates to borrows are now "close to average". Markets take that as a signal of pause in near term, at least in June, with possibility of being on hold in July too depending on economic developments. AUD/USD drops to as low as 0.9183 before recovering mildly. A Credit Suisse index shows that traders are betting the RBA will raise its target rate by +86 bps over the coming 12 months, compared with bets for an increase of +91 bps yesterday. Full Report Here... | | Special Reports | RBA Hiked to 4.5%, Rates for Borrowers 'Around Average' Inline with our forecast, the RBA raises the cash rate by +25 bps to 4.5% today. After hiking the policy rate for the 6th time in 8 months, 'rates for most borrowers will be around average levels', according to the central bank. In contrast with the statement in the previous meeting that the Board would progressively bring interest rates to be closer to average, the RBA says today's decision is 'a significant adjustment' from the very expansionary settings reached a year ago and the Board can 'set monetary policy as needed'. We believe this is a signal for a pause in June. Full Report Here... 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: GBP/USD - Sell at 1.5330 Although cable has traded narrowly and further consolidation would be seen, the retreat from 1.5390 suggests the rebound from 1.5126 has possibly ended there and bearishness remains for weakness towards this support, however, break there is needed to add credence to our view that top has been formed at 1.5524 earlier and bring at least a stronger retracement of recent rise to 1.5065 (61.8% Fibonacci retracement of 1.4781 to 1.5524) but reckon 1.5000 would limit downside and bring recovery later. Full Report Here... Trade Idea: EUR/USD - Sell at 1.3280 Yesterday's selloff from 1.3365 to 1.3154 suggests the rebound from recent low of 1.3114 has ended there and consolidation with downside bias remains for a retest of this level, however, break there is needed to confirm downtrend has resumed and extend weakness towards 1.3050/60, however, loss of downward momentum would prevent sharp fall below there and the currency pair should stay well above psychological support at 1.3000 (just below 61.8% projection of 1.3692-1.3114 measuring from 1.3365 at 1.3008). Full Report Here... | | Featured Technical Report | Market Highlights | AUD/USD Daily Outlook Daily Pivots: (S1) 0.9232; (P) 0.9253; (R1) 0.9281; More AUD/USD's fall from 0.9324 extends further to as low as 0.9183 today and intraday bias remains cautiously on the downside for the moment. As noted before, considering that daily MACD is now staying below signal line, we'd favor the case that rise from 0.8577 is completed at 0.9380 already, ahead of 0.9404 high. Further decline would be seen to 0.9134 support first and break will affirm our bearish view and target 0.9000 support and below. However, a break above 0.9274 minor resistance will shift focus back to 0.9404 high instead. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | AUDUSD | 0.9202 | 0.9260 | -58 | -0.63% | | AUDJPY | 87.12 | 87.51 | -39 | -0.45% | | GBPUSD | 1.5180 | 1.5244 | -64 | -0.42% | | AUDCHF | 1.0014 | 1.0053 | -39 | -0.39% | | AUDCAD | 0.9323 | 0.9359 | -36 | -0.39% | Last Updated: May 04 07:35 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | | CHF | | | | | | | | | CAD | | | | | | | | | AUD | | | | | | | | Last Updated: May 04 07:35 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 4:30 | AUD | RBA Interest Rate Decision | 4.50% | 4.50% | 4.25% | | | 6:00 | EUR | German Retail Sales M/M Mar | -2.40% | 0.00% | 1.10% | 1.10% | | 6:00 | EUR | German Retail Sales Y/Y Mar | 2.70% | -0.50% | -0.90% | -0.40% | | 8:30 | GBP | PMI Manufacturing Apr | | 57.5 | 57.2 | | | 9:00 | EUR | Eurozone PPI M/M Mar | | 0.70% | 0.10% | | | 9:00 | EUR | Eurozone PPI Y/Y Mar | | 0.90% | -0.50% | | | 14:00 | USD | Pending Home Sales M/M Mar | | 3.70% | 8.20% | | | 14:00 | USD | Factory Orders Mar | | 0.00% | 0.60% | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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