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| Action Insight Weekly Report | Markets Snapshot |
Dollar Firmer on Weak Market Sentiments, But Markets Outlook MixedDollar was broadly higher last week as sentiments were generally weak. Worries on European debt crisis contagion continued even though political turmoils in Italy and Greece were cleared. Weak both auctions in Eurozone provided no support to sentiments neither and investors' minds were also troubled as the dead line for US debt reduction plan approached. Nonetheless, we'd like to point out that while DOW was notably lower, it's kept inside recent range of 11630/12284. Dollar index lost momentum again after hitting 78.46 and retreated sharply. EUR/USD's fall was short lived as the back closed back above 1.35 level. Though, more notable weakness was seen in the CRB commodity index and commodity currencies. So, markets were just mixed with mild bias on the dollar's side. |    |
| Featured Technical Report | |
USD/CAD Weekly OutlookUSD/CAD's recovery from 0.9891 extended to 1.0301 but momentum remained unconvincing. Also, the choppy look of such recovery suggested it's corrective in nature. Hence, while further rise could still be seen with 1.0087 minor support intact, we'd expect upside to be limited by 61.8% retracement of 1.0656 to 0.9891 at 1.0364 to finish the correction. Below 1.0087 will indicate that such correction is already completed and will flip bias back to the downside for 0.9891 support and below. |
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The Week in Review and Preview |
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