| Action Insight Mid-Day Report | Mid-Day Report: Euro Drops Further As Trichet Didn't Calm Markets, Swiss Franc Powers as SNB Gives Up Euro remains under much pressure after ECB left rates unchanged at 1.00% as widely expected. No special announcement is made today and Trichet said that Governing Council didn't discuss today whether it should purchase government bonds as the euro region's fiscal crisis spreads. Nevertheless, Euro continues to feel the weight of debt crisis fear as Spain paid the highest yield since 2008 to sell their five year bonds today. Also, EUR/CHF drops sharply and breaks recent low of 1.4143 as markets circulate talks that SNB is finally giving up on intervention to restrict CHF's gain against Euro. SNB has repeatedly declined to comment. On the other hand, Euro is also weak broadly and drops to new record low against Aussie. Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY – Sell at 121.30 Yesterday's selloff calls for a review of our preferred count and signals only wave iii has ended at 119.66 earlier, followed by wave iv at 127.95 and final wave v is unfolding with minor wave (iii) now in progress, which should extend weakness to 118.54 (50% projection of 138.49 to 119.66 measuring from 127.95), however, reckon 116.94 (1.618 times projection of 127.95-122.37 measuring from 125.97) would contain downside, bring rebound later this month. Full Report Here... Trade Idea: AUD/USD - Sell at 0.9160 Despite intra-day selloff to 0.8991, as aussie has recovered from there, suggesting consolidation would be seen before decline resumes again for the 3rd set of a-b-c of wave (ii) from 0.9389 and break of said support would extend weakness to 0.8940/50 but price should stay well above support at 0.8800, bring strong rebound next week. Full Report Here... | | Featured Technical Report | Market Highlights | EUR/CHF Mid-Day Outlook Daily Pivots: (S1) 1.4315; (P) 1.4332; (R1) 1.4340; More EUR/CHF dives to as low as 1.4106 today and the break of 1.4143 support confirms that medium term down trend has resumed. Intraday bias remains on the downside and further fall should now be seen to 1.4 psychological level first. On the upside, above 1.4178 minor resistance will turn intraday bias neutral and bring consolidations. But upside should be limited below 1.4294 support turned resistance and bring fall resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | EURCHF | 1.4044 | 1.4325 | -281 | -2.00% | | AUDCHF | 0.9948 | 1.0130 | -182 | -1.83% | | CADCHF | 1.0669 | 1.0846 | -177 | -1.66% | | EURNZD | 1.7569 | 1.7860 | -291 | -1.66% | | GBPCHF | 1.6626 | 1.6884 | -258 | -1.55% | Last Updated: May 06 13:20 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | | CHF | | | | | | | | | CAD | | | | | | | | | AUD | | | | | | | | Last Updated: May 06 13:20 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% | | 01:30 | AUD | Retail Sales M/M Mar | 0.30% | 0.80% | -1.40% | -1.20% | | 01:30 | AUD | Trade Balance (AUD) Mar | -2082M | -2125M | -1924M | -1701M | | 07:15 | CHF | CPI M/M Apr | 0.90% | 0.80% | 0.10% | | | 07:15 | CHF | CPI Y/Y Apr | 1.40% | 1.30% | 1.40% | | | 08:30 | GBP | PMI Services Apr | 55.3 | 57 | 56.5 | | | 10:00 | EUR | German Factory Orders M/M Mar | 5.00% | 1.40% | 0.00% | | | 10:00 | EUR | German Factory Orders Y/Y Mar | 26.10% | 21.00% | 24.50% | | | 11:45 | EUR | ECB Interest Rate Decision | 1.00% | 1.00% | 1.00% | | | 12:20 | EUR | ECB Press Conference | | -- | -- | | | 12:30 | CAD | Building Permits M/M Mar | 12.20% | -- | -0.50% | | | 12:30 | USD | Non-Farm Productivity Q1 P | 3.60% | 2.50% | 6.90% | | | 12:30 | USD | Unit Labor Costs Q1 P | -1.60% | -0.50% | -5.90% | | | 12:30 | USD | Initial Jobless Claims (MAY 1) | 444K | 440K | 448K | | | 14:00 | CAD | Ivey PMI Apr | | -- | 57.8 | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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