| Action Insight Daily Report | Falling China Stocks Lift Dollar and Yen, Rally Resuming? Stocks in China resumes recent sharp fall today by falling over -5% to make a new low and drags down Asian equities and commodities. European indices also open broadly lower. Gold is sent back below 940 level while crude oil is back below 70 level. Dollar and yen, and to a lesser extend swiss franc, are logically boosted up on safe haven flow. It's possible that this week's rally in dollar and yen is resuming and focus in the following sessions will turn to this week's highs against major currencies for confirmation. One thing to note is USD/JPY's vulnerability to 94 support level and it's looking more likely that yen will start to outperform the dollar in next round of risk aversion trades. Full Report Here... | | Special Reports | FX Forecasts Update: USD, EUR, JPY, GBP, CHF While the street has lifted forecast on EURUSD, current price level (1.413) suggests recent rally has been overdone and pullback to around 1.4 is needed. Moreover, as euro has risen more than 10% since March, further upside is limited. Credit Suisse stays 'tactically neutral' on the euro whose 'status as the primary alternate reserve currency to the USD has allowed it to stay firm even as rate differentials have moved against it of late, and we expect reserve diversification flows to provide underlying support for the pair going forward'. However, it's difficult for the currency pair 'to extend its gains absent a more supportive rate backdrop. This in turn may need to await more conclusive evidence that the Eurozone is participating in the global recovery'. Full Report Here... Event to Watch: Canada CPI Headline CPI probably dropped -0.1% in July after gaining +0.3% in the previous month as driven by declines in petrol and natural gas prices. Moreover, discounts on apparel should have put downward pressure on inflation. Food price is expected to have stayed largely flat from the previous month. On annual basis, the reading should have declined -0.7%. Core inflation should have risen +0.1% mom and +1.9% yoy, as deflationary pressure from energy prices was excluded. Full Report Here... | | Candlesticks & Ichimioku Analysis | Trade Idea: USD/CHF - Buy At 1.0700 Although the greenback has rebounded again after falling marginally to 1.0726 this morning, break of resistance at 1.0834 is needed to confirm the rise from 1.0671 has resumed and extend gain towards 1.0885 resistance, otherwise, further consolidation would take place and another retreat to 1.0700 cannot be ruled out and if our view a low has been formed at 1.0563 is correct, we still think downside would be limited and support at 1.0671 should hold, bring another leg of corrective upmove later. Looking ahead, a break of 1.0885/90 resistance would add credence to our bullishness for headway towards strong resistance area at 1.0935/40 later. Full Report Here... Trade Idea: GBP/USD - Buy At 1.6330 Although cable has retreated from 1.6594, yesterday's strong rebound suggests a temporary low has been formed at 1.6275 and further consolidation would be seen but as long as said support level holds, another rebound would take place. Above 1.6594 resistance would bring retracement of recent decline from 1.7044 to the resistance at 1.6670 (this is also just above the 50% Fibonacci retracement of entire fall from 1.7044 to 1.6275 at 1.6660), however, the British pound should falter below the Ichimoku cloud top (now at 1.6717) Full Report Here... Trade Idea: EUR/USD - Sell At 1.4185, O.C.O. Buy At 1.4000 Although the single currency retreated after rebounding to 1.4173 yesterday, break of support at 1.4045 is needed to confirm the decline from 1.4448 top has resumed and extend weakness towards 1.4007, however, loss of near term downward momentum would prevent sharp fall below there and reckon 1.3966 (100% projection of 1.4448 to 1.4086 measuring from 1.4328) would hold and bring another bounce later. Full Report Here... Trade Idea: USD/JPY - Buy At 93.70 Dollar's retreat after yesterday's rebound to 95.30 suggests near term downside bias remains for the decline from 97.79 to extend marginal weakness below 94.01/04 (previous support and 61.8% Fibonacci retracement of 91.73-97.79), however, reckon 93.69 (61.8% projection of 96.80 to 94.19 measuring from 95.30) would contain downside and bring a rebound later. Above 95.30/35 (yesterday's high and current level of Kijun-Sen) would suggest a low has possibly been formed but break of 95.80 (previous minor support) is needed to confirm. Full Report Here... | | Featured Technical Report | Market Highlights | AUD/USD Daily Outlook Daily Pivots: (S1) 0.8216; (P) 0.8245; (R1) 0.8295; More AUD/USD's recovery was limited by 4 hours 55 EMA and has possibly completed at 0.8303. Intraday bias is mildly on the downside for 0.8154 first and break there will confirm that whole decline from 0.8476 high has resumed. As discussed before, prior break of 0.8179 support indicates that whole rise from 0.7702 should have completed already and below 0.8154 will target 0.7702 low next. While another rise cannot be ruled out, upside is expected to be limited well below 0.8476 high. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | AUDJPY | 77.45 | 78.26 | -81 | -1.05% | | GBPJPY | 155.20 | 156.78 | -158 | -1.02% | | NZDJPY | 63.21 | 63.85 | -64 | -1.01% | | CADJPY | 85.11 | 85.97 | -86 | -1.01% | | EURJPY | 132.91 | 133.82 | -91 | -0.68% | Last Updated: Aug 19, 07:30 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Aug 19, 07:30 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 22:45 | NZD | PPI - Inputs Q/Q Q2 | 0.00% | -0.70% | -2.50% | | | 22:45 | NZD | PPI - Outputs Q/Q Q2 | -0.70% | -0.60% | -1.40% | | | 4:30 | JPY | All Industry Activity Index M/M Jun | 0.10% | 0.40% | 0.70% | | | 6:00 | EUR | German PPI M/M Jul | -1.50% | -0.20% | -0.10% | | | 6:00 | EUR | German PPI Y/Y Jul | -7.80% | -6.50% | -4.60% | | | 8:00 | EUR | Eurozone Current Account (EUR) Jun | | -1.7B | -1.2B | | | 8:30 | GBP | BoE MPC Minutes | | 0--0--9 | 0--0--9 | | | 10:00 | GBP | U.K. CBI Industrial Trends Total Orders Aug | | -50 | -59 | | | 11:00 | CAD | CPI M/M Jul | | -0.20% | 0.30% | | | 11:00 | CAD | CPI Y/Y Jul | | -0.80% | -0.30% | | | 11:00 | CAD | BoC CPI Core M/M Jul | | 0.10% | 0.00% | | | 11:00 | CAD | BoC CPI Core Y/Y Jul | | 1.90% | 1.90% | | | 12:30 | CAD | Leading Indicators M/M Jul | | 0.20% | -0.10% | | | 14:30 | USD | Crude Oil Inventories | | 1.1M | 2.5M | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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