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| Action Insight Weekly Report | Markets Snapshot |
Political Turmoil Cleared, Stocks to Resume Rally, Dollar to be Back Under PressureWorry on European debt crisis hit a near term climax when Italian 10 year yield soared through the sustainable 7% last week after Europe's biggest clearing house raised margin requirement for trading Italian bonds, and on the background of political uncertainty in Greece and Italy. Nonetheless, the political turmoils were solved towards the end of the week and helped risk sentiments recovered drastically. The developments painted the picture that recent movements in risk markets were merely consolidative in nature. And, investors would probably restart buying into risks now that the situation in Greece and Italy is cleared. And, the greenback would likely be back under pressure. |    |
| Featured Technical Report | |
GBP/USD Weekly OutlookGBP/USD's consolidation from 1.6165 extended further with another dip to 1.5868 but quickly recovered. More sideway trading could still be seen in near term. But even in case of another fall, we'd continue to expect downside to be contained by 1.5631/5851 support zone to conclude the consolidation and resume rise from 1.5271. Decisive break of 1.6165 resistance will confirm such rally resumption and should target 1.6618 resistance next. |
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