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| Action Insight Weekly Report | Markets Snapshot |
Strong Return of Risk Appetite, Dollar Index Heading Back to 80?Dollar was broadly lower last week on return of risk appetite following some solid economic data from US and China. Non-farm payroll showed a solid 67k expansion in the private job market even though the headline number showed -54k contraction. Both figures were better than expectation of 40k and -105k respectively. In addition, ISM manufacturing index showed unexpected improvement in August to 56.3. Pending home sales also posted strong rise by 5.2% mom in July. The much weaker than expected drop in ISM services to 51.5 in August only helped limit selloff in yen and swissy, but did little to support the greenback. |    |
| Featured Technical Report | |
AUD/USD Weekly OutlookAUD/USD jumped sharply to as high as 0.9174 last week and the strong rise affirms the case that AUD/USD has not topped out yet. Initial bias remains on the upside this week for 0.9220 and then 61.8% projection of 0.8315 to 0.9220 from 0.8770 at 0.9329 next. On the downside, below 0.9064 minor support will turn intraday bias neutral But break of 0.8860 is needed to indicate that rise from 0.8770 is finished. Otherwise, outlook will remain bullish. |
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The Week in Review and Preview |
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