| Action Insight Mid-Day Report |
Dollar Getting Support from Economic Data, Sterling Knocked Down by King Dollar is getting some support from solid data in early US session. Headline retail sales rose much more than expected by 2.7% in August, with ex-auto sales also rose strongly by 1.1%. Empire state manufacturing index rose to two year high of 18.9 in September and beat expectation of 14. PPI rose 1.7% mom in August with core PPI up 0.2% mom. On the other hand, Yen is mildly lower on anticipation of positive start in US stocks. Full Report Here... |
| Special Reports |
FX Forecasts Update: USD, JPY, EUR, GBP, CHF Improved market sentiment and favors towards risky assets pressured the dollar over the past month. Although USD's decline against major currencies looked excessive, investors remained hesitant to remove the bearish view on USD. The general themes on the dollar remain to be interest rate differential, increasing appetite to higher-yield investments and reserve diversification. These topics will likely render the dollar chronically weak in the near-term. Full Report Here... |
| Elliott Wave Analysis |
GBP/JPY Elliott Wave Analysis The British pound traded narrowly after falling to 149.10 earlier and we are keeping our bearish count that the second c leg of the wave 4 from 118.87 has possibly ended at 163.00 and consolidation with downside bias remains for further decline, a daily close below said support would bring test of 146.75 support later.146 Full Report Here... GBP/USD Elliott Wave Analysis The rebound in the British pound from 1.6113 suggests the first leg of decline from 1.7044 has ended there and consolidation within 1.6113-1.7044 would take place with mild upside bias and although gain to 1.6688 (61.8% Fibonacci retracement of 1.7044 to 1.6113) cannot be ruled out, upside should be limited to 1.7000 and as long as 1.7044 holds, another decline would take place later this month. Full Report Here... |
| Candlesticks & Ichimioku Analysis |
GBPUSD Candlesticks and Ichimoku Analysis Although the strong rebound from 1.6113 suggests gain towards the Ichimoku cloud top (now at 1.6848) is likely, as long as resistance at 1.7044 (where a shooting star candlestick pattern was formed) holds, further consolidation would take place and another retreat to 1.6320/30 cannot be ruled out, however, only a break of 1.6113 support would revive our previous bearish view for correction of recent upmove towards 1.5983 support. Full Report Here... USDCHF Candlesticks and Ichimoku Analysis The greenback finally broke below indicated chart support at 1.0370, confirming the decline from 1.2298 (Nov 2008) has resumed and further weakness to 1.0176 (61.8% projection of 1.1967 to 1.0592 measuring from 1.1026) is now in progress, break there would extend towards 1.0011-39 (previous chart support and 100% projection of 1.2298 to 1.0370 measuring from 1.1967 respectively). Having said that, the psychological support at 1.0000 is likely to hold on first testing and risk has increased for a rebound later. Full Report Here... |
| Featured Technical Report | Market Highlights |
EUR/GBP Mid-Day Outlook Daily Pivots: (S1) 0.8727; (P) 0.8742; (R1) 0.8762; More. EUR/GBP rises strongly after brief pull back and the break of 0.8837 resistance confirms that whole rise form 0.8454 has resumed. Intraday bias is now on the downside and further rise should be seen to 38.2% retracement of 0.9799 to 0.8399 at 0.8934 first. Break will target 61.8% retracement at 0.9264 next. On the downside, below 0.8827 minor support will turn intraday outlook neutral first. But pull back should be contained above 0.8722 support and bring rally resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPUSD | 1.6438 | 1.6581 | -143 | -0.87% | | USDJPY | 91.62 | 90.93 | +69 | +0.75% | | USDCHF | 1.0415 | 1.0345 | +70 | +0.67% | | AUDUSD | 0.8570 | 0.8621 | -51 | -0.60% | | GBPCAD | 1.7845 | 1.7942 | -97 | -0.54% | Last Updated: Sep 15, 12:55 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Sep 15, 12:55 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:01 | GBP | RICS House Price Balance Aug | 10.70% | -0.10% | -8.10% | -5.70% | | 01:30 | AUD | RBA Meeting Minutes | | -- | -- | | | 07:15 | CHF | Industrial Production Q/Q Q2 | 2.70% | 7.80% | -13.10% | | | 08:30 | GBP | CPI M/M Aug | 0.40% | 0.30% | 0.00% | | | 08:30 | GBP | CPI Y/Y Aug | 1.60% | 1.40% | 1.80% | | | 08:30 | GBP | Core CPI Y/Y Aug | 1.80% | 1.60% | 1.80% | | | 08:30 | GBP | RPI M/M Aug | 0.50% | 0.20% | 0.00% | | | 08:30 | GBP | RPI Y/Y Aug | -1.30% | -1.50% | -1.40% | | | 08:30 | GBP | DCLG UK House Prices Y/Y Jul | -8.30% | -9.50% | -10.70% | | | 09:00 | EUR | German ZEW Economic Sentiment Sep | 57.7 | 59.9 | 56.1 | | | 09:00 | EUR | Eurozone ZEW Economic Sentiment Sep | 59.6 | 57.8 | 54.9 | | | 12:30 | CAD | New Motor Vehicle Sales M/M Jul | 5.30% | 5.00% | -0.60% | | | 12:30 | CAD | Labor Productivity Q/Q Q2 | 0.00% | -- | 0.30% | | | 12:30 | USD | Advance Retail Sales Aug | 2.70% | 1.80% | -0.10% | -0.20% | | 12:30 | USD | Retail Sales ex-autos Aug | 1.10% | 0.40% | -0.60% | -0.50% | | 12:30 | USD | PPI M/M Aug | 1.70% | 0.80% | -0.90% | | | 12:30 | USD | PPI Y/Y Aug | -4.30% | -5.40% | -6.80% | | | 12:30 | USD | PPI Core M/M Aug | 0.20% | 0.10% | -0.10% | | | 12:30 | USD | PPI Core Y/Y Aug | 2.30% | 2.20% | 2.60% | | | 12:30 | USD | Empire Manufacturing Sep | 18.9 | 14 | 12.08 | | | 14:00 | USD | Fed's Bernanke Speaks on Financial Crisis in Washington | | -- | -- | | | 14:00 | USD | Business Inventories Jul | | -0.80% | -1.10% | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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