| Action Insight Mid-Day Report | Mid-Day Report: Euro Extends Weakness as Portugal's Rating May be Downgraded Euro extends current decline as Moody's put Portugal's Aa2 debt rating on watch for a possible downgrade. The company's statement said that the rating action "reflects the recent deterioration of Portugal's public finances as well as the economy's long-term growth challenges." Also, "increased risk discrimination in the financial markets may raise Portugal's financing costs for some time to come." EUR/USD drops through 1.29 level while risk averse sentiments also send the greenback higher against other major currencies. Full Report Here... | | Special Reports | 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: AUD/USD – Sell at 0.9170 This week's euro-led selloff signals the wave (ii) decline from 0.9389 is still in progress and weakness towards 0.9030 cannot be ruled out, however, only break of support at 0.9001 would turn outlook bearish for stronger correction, otherwise, prospect of another rally remains Full Report Here... Trade Idea: EUR/JPY - Exit long entered at 123.00 and sell at 123.45 Euro's selloff on massive cross-buying in yen due to risk aversion has dampened our bullishness and suggest the wave (ii) is still in progress and may extend weakness to 121.70/80, however, reckon downside would be limited to 121.30/35 and support at 121.05 should hold. Full Report Here... | | Featured Technical Report | Market Highlights | EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.2908; (P) 1.3061 (R1) 1.3140; More. EUR/USD's fall is still in progress and reaches as low as 1.2882 so far. Intraday bias remains on the downside and further decline should be seen to next target of 100% projection of 1.4578 to 1.3443 from 1.3817 at 1.2682. Break there will target a retest on key support zone of 1.2329/2456. On the upside, above 1.2997 minor resistance will indicate that a temporary low is formed and bring recovery. But upside should be limited by 1.3114/3341 resistance zone and bring fall resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | EURUSD | 1.2895 | 1.2988 | -93 | -0.72% | | USDCHF | 1.1108 | 1.1028 | +80 | +0.72% | | NZDUSD | 0.7158 | 0.7200 | -42 | -0.59% | | AUDUSD | 0.9040 | 0.9087 | -47 | -0.52% | | EURJPY | 122.15 | 122.78 | -63 | -0.52% | Last Updated: May 05 12:45 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | | CHF | | | | | | | | | CAD | | | | | | | | | AUD | | | | | | | | Last Updated: May 05 12:45 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:01 | GBP | BRC Shop Price Index Apr | 2.00% | -- | 1.20% | | | 01:30 | AUD | Building Approvals M/M Mar | 15.30% | 0.90% | -3.30% | -2.70% | | 07:55 | EUR | German PMI Services Apr F | 55.2 | 55 | 55 | | | 08:00 | EUR | Eurozone PMI Services Apr F | 55.6 | 55.5 | 55.5 | | | 08:30 | GBP | PMI Construction Apr | 58.2 | 53.2 | 53.1 | | | 09:00 | EUR | Eurozone Retail Sales M/M Mar | 0.00% | 0.10% | -0.60% | -0.20% | | 09:00 | EUR | Eurozone Retail Sales Y/Y Mar | -0.10% | -0.50% | -1.10% | -0.205 | | 11:30 | USD | Challenger Job Cuts Y/Y Apr | -71.10% | -- | -55.00% | | | 12:15 | USD | ADP Employment Change Apr | 32K | 25K | -23K | | | 14:00 | USD | ISM Non-Manufacturing Composite Apr | | 56 | 55.4 | | | 14:30 | USD | Crude Oil Inventories | | 0.6M | 1.9M | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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