| Action Insight Mid-Day Report |
US Q2 GDP Unrevised at -1.0%, Little Reactions from Markets Better than expected GDP report was released in early US session but markets' reactions are so far mild. Dollar and yen are generally firm while stocks open nearly flat. Some noticeable strength is seen in commodity currencies together with a rebound in treasury yield as well as gold after the GDP report. However, the rebound is brief as gold quickly falls back to below 950 while crude oil resumes recent fall towards 70 level. After all, more upside in dollar and yen are still in favor in near term. Full Report Here... |
| Special Reports |
Events to Watch: Japan CPI, US PCE Japan CPI - July: Decline in inflation probably accelerated in July as driven by strong base effect and wider output gap. Nationwide CPI is expected to have contracted -2.3% yoy in July following a -1.8% drop in the previous month. Core CPI (excluding fresh food) should have declined -2.2% yoy during the month. As a leading indicator to headline inflation index, Tokyo CPI is expected to have declined -1.8% in August, same level as seem in July. Full Report Here... Forecasts Update: AUD, NZD, CAD, Gold, Oil Commodity prices and commodity currencies continued to overshoot on the upside last month although many of the rallies looked excessive and needed correction. Increase in risk appetite amid improvements in macro economic outlook drove investors to higher-yield assets from 'safe havens' such as USD and JPY. Full Report Here... |
| Candlesticks & Ichimioku Analysis |
EUR/CAD Elliott Wave Analysis Despite retreating to 1.5365, as the single currency has rebounded again from there, retaining our view that low has possibly been formed at 1.5186 and consolidation above there would take place with upside bias for gain to 1.5758 (50% Fibonacci retracement of 1.6329-1.5186) is likely, however, a daily close above 1.5892 (61.8% Fibonacci retracement) is needed to confirm the e leg of the decline 1.7509 has ended at 1.5186 and bring further rise to 1.6000. Full Report Here... AUD/USD Elliott Wave Analysis As the Australian dollar is still trading above indicated support at 0.8090, suggesting further consolidation would take place (a possible minor triangle wave iv) and retest of 0.8479 cannot be ruled out, break there would extend upmove to chart resistance at 0.8520, and above there would bring the final leg of the rise towards the projected target at 0.8690 (50% projection of wave (i) – (iii) measuring from wave (iv) trough). Full Report Here... |
| Candlesticks & Ichimioku Analysis |
GBPJPY Candlesticks and Ichimoku Analysis Despite trading narrowly last week, as the British pound fell again this week as expected (reached our indicated downside target at 154.93 and 152.30/35), retaining our view that a temporary top has been formed earlier at 163.00 and consolidation with downside bias remains for further decline towards 150.00, however, it is necessary to see a clear break of support at 146.75 (this would also penetrate the Kijun-Sen at 147.29) to confirm the rise from 118.87 has ended. Full Report Here... GBPCHF Candlesticks and Ichimoku Analysis The anticipated retreat from 1.8091 has reinforced our bearish view that top has been formed at 1.8114 earlier and our indicated downside targets at 1.7391 has been met. The series of black candlesticks from 1.8091 suggests further fall towards the Ichimoku cloud bottom and Kijun-Sen (now at 1.7022 and 1.6982 respectively) is under way. however, a weekly close below there is needed to confirm the rise from 1.5122 has ended and then decline to a temporary top has been formed earlier at 1.8114 and bring correction towards 1.6618 (50% Fibonacci retracement of 1.5122 to 1.8114) eventually. Full Report Here... |
| Featured Technical Report | Market Highlights |
EUR/JPY Mid-Day Outlook Daily Pivots: (S1) 133.80; (P) 134.45; (R1) 135.01; More. Intraday bias in EUR/JPY remains on the downside with 134.42 minor resistance intact. We continue to favor the case that corrective rise from 132.17 is already completed at 136.07. Below 132.90 will bring retest of 132.17 low and break there will confirm resumption of whole decline from 138.70 to 127.08 key support next. On the upside, though, above 134.42 minor resistance will indicate that consolidation is still in progress. But still, while another rise cannot be ruled out, we'd expect upside to be limited below 137.83 resistance and bring fall resumption finally. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPJPY | 151.44 | 153.13 | -169 | -1.12% | | NZDJPY | 63.67 | 64.21 | -54 | -0.85% | | GBPAUD | 1.9449 | 1.9613 | -164 | -0.84% | | CHFJPY | 87.55 | 88.24 | -69 | -0.79% | | EURJPY | 133.35 | 134.35 | -100 | -0.75% | Last Updated: Aug 27, 14:00 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Aug 27, 14:00 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 22:45 | NZD | Trade Balance (NZD) Jul | -163M | -139M | -417M | -332M | | 00:00 | AUD | Conference Board Leading Index Jun | 0.90% | -- | -0.10% | -0.20% | | 01:30 | AUD | Private Capital Expenditure Q2 | 3.30% | -4.70% | -8.90% | -7.30% | | 06:10 | EUR | German GfK Consumer Climate Sep | 3.7 | 3.8 | 3.5 | 3.4 | | 08:00 | EUR | Eurozone M3 Y/Y Jul | 3.00% | 3.20% | 3.50% | 3.60% | | 12:30 | USD | GDP (Annualized) Q2 P | -1.00% | -1.40% | -1.00% | | | 12:30 | USD | GDP Price Index Q2 P | 0.00% | 0.20% | 0.20% | | | 12:30 | USD | Core PCE Q/Q Q2 P | 2.00% | 2.00% | 2.00% | | | 12:30 | USD | Initial Jobless Claims | 570K | 563K | 576K | | | -- | EUR | German CPI M/M AUG P | 0.20% | 0.00% | 0.00% | | | -- | EUR | German CPI Y/Y AUG P | 0.00% | -0.20% | -0.50% | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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