| Action Insight Daily Report | Euro Dives Further ahead of ECB, Kiwi Strong on Employment Data Markets are still selling Euro on concern of "grave contagion effects" from Greece's fiscal problem and return to quantitative easing from ECB. Markets are speculating that ECB might be forced to adopt the "nuclear option" of buying government bonds to prevent debt problems in spreading over Eurozone. Note that while ECB is not allowed to buy assets directly from authorities, it can do so through the secondary markets. Also, the ECB might consider to reverse the withdrawal of emergency lending measures and dilute collateral rules further. In any case, such development will market a return to quantitative easing and will be negative to the already weak Euro. ECB is widely expected to keep rates unchanged at 1.00% today and beware of any announcement along with the rate decision. Full Report Here... | | Special Reports | ECB to Continue Gradual Stimulus Exit, Focus on Greece at Press Conference The ECB is widely expected to maintain the main refinancing rate at 1% and leave its assessment on economic and inflationary outlook similar to previous meetings. The focus of the press conference will again be on Greece. While the related parties basically agreed on the terms of the 3-year loan totaling 110B euro, it will need to be approved by the parliament on May 7. There will likely be questions regarding contagion and collateral rules. Full Report Here... | | Candlesticks and Ichimoku Analysis | Trade Idea: GBP/USD - Sell at 1.5180 As the British pound has remained under pressure after early breach of 1.5126 support, suggesting the decline from 1.5524 is still in progress and indicated downside target at 1.5065 (61.8% Fibonacci retracement of 1.4781 to 1.5524) has been met, further weakness towards 1.5000 would be seen, however, near term oversold condition should limit downside to 1.4930/40 (approx. 1.236 times projection of 1.5498 to 1.5126 measuring from 1.5390) and bring rebound later. Full Report Here... Trade Idea: EUR/USD – Sell at 1.2900 As the single currency has remained under pressure after yesterday's brief recovery, suggesting recent downtrend is still in progress and indicated downside target at 1.2787 (100% projection of 1.3692 to 1.3114 measuring from1.3365) has been met and further fall to 1.2753 (50% projection of 1.5145 to 1.3267 measuring from 1.3692), then towards 1.2690/00, however, near term oversold condition should limit downside and reckon 1.2651 (1.236 times projection of 1.3692 to 1.3114 measuring from1.3365) would hold from here. Full Report Here... | | Featured Technical Report | Market Highlights | EUR/JPY Daily Outlook Daily Pivots: (S1) 118.97; (P) 121.18; (R1) 122.41; More. EUR/JPY dives to as low as 118.84 today so far and the break of 119.64 support confirms medium term fall resumption. Intraday bias remains on the downside and further decline should be seen to next key support level of 112.10 low. On the upside, above 120.70 minor resistance will turn intraday bias neutral and bring recovery. But upside should be limited by 122.35 support turned resistance and bring fall resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDCAD | 0.7488 | 0.7389 | +99 | +1.32% | | AUDNZD | 1.2462 | 1.2625 | -163 | -1.31% | | NZDCHF | 0.8112 | 0.8017 | +95 | +1.17% | | EURNZD | 1.7654 | 1.7860 | -206 | -1.17% | | AUDJPY | 84.10 | 84.99 | -89 | -1.06% | Last Updated: May 06 06:50 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | | CHF | | | | | | | | | CAD | | | | | | | | | AUD | | | | | | | | Last Updated: May 06 06:50 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | -- | GBP | UK General Election | | -- | -- | | | 22:45 | NZD | Employment Change Q/Q Q1 | 1.00% | 0.30% | -0.10% | | | 22:45 | NZD | Employment Change Y/Y Q1 | -0.10% | -1.20% | -2.40% | | | 22:45 | NZD | Unemployment Rate Q1 | 6.00% | 7.30% | 7.30% | 7.10% | | 1:30 | AUD | Retail Sales M/M Mar | 0.30% | 0.80% | -1.40% | -1.20% | | 1:30 | AUD | Trade Balance (AUD) Mar | -2082M | -2125M | -1924M | -1701M | | 7:15 | CHF | CPI M/M Apr | | 0.80% | 0.10% | | | 7:15 | CHF | CPI Y/Y Apr | | 1.30% | 1.40% | | | 8:30 | GBP | PMI Services Apr | | 57 | 56.5 | | | 10:00 | EUR | German Factory Orders M/M Mar | | 1.40% | 0.00% | | | 10:00 | EUR | German Factory Orders Y/Y Mar | | 21.00% | 24.50% | | | 11:45 | EUR | ECB Interest Rate Decision | | 1.00% | 1.00% | | | 12:20 | EUR | ECB Press Conference | | -- | -- | | | 12:30 | CAD | Building Permits M/M Mar | | -- | -0.50% | | | 12:30 | USD | Non-Farm Productivity Q1 P | | 2.50% | 6.90% | | | 12:30 | USD | Unit Labor Costs Q1 P | | -0.50% | -5.90% | | | 12:30 | USD | Initial Jobless Claims (MAY 1) | | 440K | 448K | | | 14:00 | CAD | Ivey PMI Apr | | -- | 57.8 | | | | Suggested Readings | ECB Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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