| Action Insight Daily Report | Mid-Day Report: EUR/USD Breaks 1 Year Low as CDS Rises again on European Debt Fear Euro drops sharply today and breaks through 1 year low of 1.3114 against dollar. In spite of the EUR 110b bailout packaged announced over the weekend, markets are still unconvinced that the fiscal debt crisis in Eurozone is solved. Investors are concerned that there are still a lot of obstacles ahead and there are still much risk of contagion spread. There are even rumors that Spain will be the next in line to apply for financial aids. CDS on Greece is back above 680 level today which implies over 40% probability of default over five years. CDS on Spain, Portugal, Ireland and Italy also rose back to above 180, 310, 200 and 140 respectively. 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... ECB to Continue Gradul 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... | | Elliott Wave Analysis | Trade Idea: EUR/JPY – Buy at 123.00 The single currency ran into heavy offers at 125.46 and dropped sharply on risk aversion, suggesting the correction from 125.97 is still unfolding and weakness to minor support at 123.20/30 cannot be ruled out, however, reckon 123.00 would limit downside and bring another rebound later. Full Report Here... | | Featured Technical Report | Market Highlights | USD/CHF Mid-Day Outlook Daily Pivots: (S1) 1.0770; (P) 1.0829; (R1) 1.0915; More. USD/CHF's strong break of 1.0923 resistance confirms that recent rally has resumed. Intraday bias remains on the upside and further rise should be seen to 100% projection of 1.0131 to 1.0897 from 1.0434 at 1.1200 next. On the downside, below 1.0887 minor support will turn intraday bias neutral and bring consolidations. But downside should be contained above 1.0748 support and bring rally resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | AUDJPY | 86.34 | 87.51 | -117 | -1.36% | | AUDUSD | 0.9145 | 0.9260 | -115 | -1.26% | | EURJPY | 123.45 | 124.72 | -127 | -1.03% | | CHFJPY | 86.18 | 87.05 | -87 | -1.01% | | CADJPY | 92.63 | 93.50 | -87 | -0.94% | Last Updated: May 04 13:05 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | | CHF | | | | | | | | | CAD | | | | | | | | | AUD | | | | | | | | Last Updated: May 04 13:05 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 | 58 | 57.5 | 57.2 | | | 9:00 | EUR | Eurozone PPI M/M Mar | 0.60% | 0.70% | 0.10% | | | 9:00 | EUR | Eurozone PPI Y/Y Mar | 0.90% | 0.90% | -0.50% | -0.40% | | 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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