| Action Insight Daily Report |
Non-Farm Payroll to End Consolidations? While dollar recovers quite impressively yesterday, such recovery is not strong enough to change the short term down trend yet. Short term outlook in dollar remains bearish for the moment and all eyes will be focusing on whether today's Non-Farm Payroll report from US would restart the down trend or trigger a reversal. Economists expect US NFP to show -345k contraction in the job market in July while unemployment rate is expected to climb further from 9.5% to 9.6%. Full Report Here... |
| Special Report |
ECB Meeting: Non-eventful As Expected As anticipated, ECB kept its main refinancing rate unchanged at 1% in August. Moreover, there's nothing new in the press conference that we could get regarding economic outlook, monetary policies or exit strategies. Full Report Here... BOE Extends The Asset Purchase Program To 175B pound The Bank of England decided to keep interest rate unchanged at 0.5% but to extend the asset purchase program by 50B pounds to 175B pound. This was done as recession has been deeper than expected and after assessing the new set of economic forecasts, the existing stimulus plans and generation-low interest rate are not sufficient to overcome deflation. Full Report Here... |
| Candlesticks & Ichimioku Analysis |
Trade Idea: GBP/USD - Stand Aside And Possible Sell On Recovery As suggested in our previous update that the sharp retreat yesterday signals the British pound has formed a temporary top at 1.7044 earlier this week and as price dropped below both Tenkan-Sen and Kijun-Sen, correction to 1.6691 (50% Fibonacci retracement) and possibly 1.6608 (61.8% retracement) would follow. However, break below the Ichimoku cloud bottom (now at 1.6545) is needed to bring stronger correction to 1.6514 (50% Fibonacci retracement of entire rise from 1.5983 to 1.7044), then test of support at 1.6474 later. Full Report Here... |
| Featured Technical Report | Market Highlights |
USD/CHF Daily Outlook Daily Pivots: (S1) 1.0610; (P) 1.0645; (R1) 1.0687; More At this moment, further recovery in USD/CHF might still be seen but after all, upside is expected to be limited by 1.0731 resistance and bring fall resumption. On the downside, below 1.0611 minor support will flip intraday bias back to the downside first. Further break of 1.0561 will indicate that recent fall in USD/CHF has resumed for 1.0366 key support level next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | EURGBP | 0.8583 | 0.8548 | +35 | +0.41% | | GBPCHF | 1.7817 | 1.7878 | -61 | -0.34% | | GBPCAD | 1.8024 | 1.8081 | -57 | -0.32% | | GBPJPY | 159.72 | 160.18 | -46 | -0.29% | | NZDUSD | 0.6720 | 0.6702 | +18 | +0.27% | Last Updated: Aug 07, 07:25 GMT Currency Heat Map Daily View
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| Last Updated: Aug 07, 07:25 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 01:30 | AUD | RBA Monetary Policy Statement |
| -- | -- |
| | 05:45 | CHF | Unemployment Rate Jul | 3.90% | 3.90% | 3.80% |
| | 08:30 | GBP | PPI Input M/M Jul |
| -0.80% | 1.50% |
| | 08:30 | GBP | PPI Input Y/Y Jul |
| -10.90% | -11.00% |
| | 08:30 | GBP | PPI Output M/M Jul |
| 0.00% | -0.20% |
| | 08:30 | GBP | PPI Output Y/Y Jul |
| -1.70% | -1.20% |
| | 08:30 | GBP | PPI Output Core Y/Y Jul |
| -0.50% | 0.10% |
| | 10:00 | EUR | German Industrial Production M/M Jun |
| 0.50% | 3.70% |
| | 11:00 | CAD | Net Change in Employment Jul |
| -20.0K | -7.4K |
| | 11:00 | CAD | Unemployment Rate Jul |
| 8.80% | 8.60% |
| | 12:30 | USD | Change in Non-Farm Payrolls Jul |
| -345K | -467K |
| | 12:30 | USD | Unemployment Rate Jul |
| 9.60% | 9.50% |
| | 14:00 | CAD | Ivey PMI Jul |
| 55 | 58.2 |
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| Suggested Readings |
Fundamental Highlights Technical Highlights |
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