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| Action Insight Weekly Report | Markets Snapshot |
Sentiments to Deteriorate Further in a Week of Central Bank MeetingsWhile the market sentiments have stabilized in the last few weeks, the theme didn't change. Occupying investors' mind are the fear of global recession as well and the never-ending European debt crisis. There is increasing chance that Fed will announce some sort of QE3 problem later in the month. But markets are also getting increasingly inconvinced by effectiveness of further easing from Fed on saving economic recovery. DOW and S&P 500 spent most of the week recovering, but the hard work was undone after a poor job report from US and both indices indeed closed the week mildly lower. Safe haven assets regained much ground last week with US 10 year yields closed below 2% at 1.99%, just 4 points above the record low. |    |
| Featured Technical Report | |
USD/CAD Weekly OutlookUSD/CAD's consolidation from 1.0009 continued last week with a dip to 0.9725 but quickly rebounded. Current development suggests that such consolidation is possibly finished already. Initial bias is mildly on the upside for retesting 1.0009 first. Break will confirm resumption of whole rise from 0.9406 and should target 61.8% retracement of 1.0851 to 0.9406 at 1.0299. However, break of 0.9725 will now dampen this bullish view and will turn focus back to 0.9406 instead. |
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The Week in Review and Preview |
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