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Daily Forex Technical Report – Euro Lifted by Germany GDP, Possible Head & Shoulder Bottom

Thursday, May 15th, 2008

Action Insight Daily Report Euro Lifted by Germany GDP, Possible Head & Shoulder Bottom The common currency strengthens against the greenback and Sterling in early European session after data showed growth in Germany accelerated to fastest pace is 12 years in Q1. GDP growth accelerated from 0.3% qoq in Q4 to 1.5% qoq in Q1, much stronger than expectation of 0.7%. Yoy rate was also up from 1.6% to 1.8%. The data is echoing ECB Trichet’s comment that economic fundamentals in the Eurozone

Mid-Day Forex Technical Report – Yen Maintains Momentum as Risk Aversion Dominates

Friday, May 9th, 2008

Action Insight Mid-Day Report Yen Maintains Momentum as Risk Aversion Dominates Yen remains strong today and extends it’s strength across the board in early US session. Yen buying was triggered on risk aversion following 2% fall in Nikkei. Momentum continues with European stock markets down and US set to have a lower open. In addition to the concern over credit market crisis, markets are starting to shift the focus to inflationary pressures, in particular with oil prices breaking into $125 per

Daily Forex Technical Report – Yen Broadly Higher, Risk Aversion Back?

Friday, May 9th, 2008

Action Insight Daily Report Yen Broadly Higher, Risk Aversion Back? The Japanese yen is broadly higher today following weakness in the stock markets, in particular with Nikkei Down 2%. EUR/JPY led the fall in yen crosses for some time and is now joined by USD/JPY and GBP/JPY. Technically speaking, firstly, USD/JPY has reached the target of 104.96/108.59 resistance zone already. Loss of upside momentum is seen in the rebound from 95.77 and the pair is now pressing a near term channel support.

Mid-Day Forex Technical Report – Euro & Sterling Recovers after ECB & BoE on Hold

Thursday, May 8th, 2008

Action Insight Mid-Day Report Euro & Sterling Recovers after ECB & BoE on Hold After initial weakness today, both Euro and Sterling regain some grounds. ECB is on hold at 4.00% today as markets originally expected. Trichet maintains his usual hawkish tone in the following press conference by emphasizing that the central bank’s monetary policy was designed to deliver medium-term price stability and added that inflation will stay high “for a rather protracted period.” While Trichet

Daily Forex Technical Report – EUR/USD at New Record High, USD/JPY Pressing 100

Thursday, March 13th, 2008

Action Insight Daily Report EUR/USD at New Record High, USD/JPY Pressing 100 The dollar’s weakness resumes again and sinks to record low against Euro and Swissy. On the other hand, strength in the Japanese is even more apparent with USD/JPY making new 12 year low and is now pressing 100 psychological level. Yen’s strength is also felt strongly across the board with yen crosses remaining heavy. A couple of factors are contributing to the movements. Firstly, obviously markets are concerned that

Daily Forex Technical Report – Dollar and Yen Stabilize after Violent Moves

Wednesday, March 12th, 2008

Action Insight Daily Report Dollar and Yen Stabilize after Violent Moves Dollar stabilizes today after yesterday’s stronger rebound follow Fed’s extraordinary 200b liquidity package, which also resulted in the biggest stock rally in five years. Traders scaled back some bets on a 75bps rate cut from Fed next week after the announcements but after all, that’s still not expected to be the end of the easing cycle. Further rate cut is still expect from Fed even if the bank does cut rates by 50 bps

Mid-Day Forex Technical Report – Dollar Rebounds from Record Low, Boosted by Central Banks’ New Liquidity Measures

Tuesday, March 11th, 2008

Action Insight Mid-Day Report Dollar Rebounds from Record Low, Boosted by Central Banks’ New Liquidity Measures After edging to new record low against Euro, Dollar rebounds stronger in early US session after Fed announced new measures to address the liquidity pressures in funding markets, coordinated with Bank of Canada , Bank of England , European Central Bank and Swiss National Bank . Dollars reversed all of today’s earlier losses and surges across the board. On the other hand, the Japanese

Daily Forex Technical Report – Yen Up on Risk Aversion, Dollar Trading in Soft Tone

Monday, March 10th, 2008

Action Insight Daily Report Yen Up on Risk Aversion, Dollar Trading in Soft Tone The sentiments in the forex markets remain unchanged as the week starts. Yen strengthens mildly across the board, more noticeably against commodity currencies, on risk aversion following close to 2% drop in Nikkei. Meanwhile, dollar continues to trade with an undertone in tight range near to record low against the Euro. Markets are clearly concerned about the risk and depth of recession in the US economy and the

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