Action Insight Weekly Report 6-12-10

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Action Insight Weekly Report	Markets Snapshot
Dollar Pulled Back as Risk Sentiments Improved, More Consolidations Ahead Risk sentiment was given a boost last week by strong data from Asia. China exports jumped the most in six years by 48.5% yoy in April. Japan Q1 GDP was revised up to 5.0% annualized. Australia unemployment rate dropped to 5.4% in May. MSCI World index staged a strong rebound to 1080.7 while emerging market index also jumped to 917.2. Dollar and yen were generally soft as risk aversion eased with dollar index pulled back from initial high of 88.70 to close at 87.32. While commodity currencies and even the Euro maintained gains against dollar towards the end of the week, Sterling underpeformed and was sold off sharply after poor production data. After all, dollar will likely remain soft for a while as consolidations in financial markets continue this week. Full Report Here...
Featured Technical Report
GBP/USD Weekly Outlook GBP/USD's consolidation from 1.4230 extended further last week but the rally attempt was limited below 1.4769 resistance as expected and GBP/USD dropped sharply towards the end of the week. Initial bias is mildly on the downside this week and break of 1.4346 support will argue that such consolidation might have completed. Further break of 1.4230 will confirm down trend resumption for 1.3503 low. On the upside, however, decisive break of 1.4769 resistance will dampen our view and target 61.8% retracement of 1.5521 to 1.4230 at 1.5028 instead. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

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Suggested Readings

The Week in Review and Preview FX Strategy Weekly The Weekly Bottom Line The Week Ahead: Risk Recovers Marginally, But Doubts Remain Weekly Economic and Financial Commentary A Fundamental Review of This Week - Risk Rally Hits A Speed Bumb Weekly Focus: Another Week in the Shadow of the Debt Crisis Euro Sentiment Improves Slightly

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