First off, sorry for the terribly long outage on Monday. We experienced some serious technical problems that put the site offline for most of the day. The problems should be fixed and fingers crossed, everything should be back to normal now. Thanks for your patience with us. Risk appetite was View full post on Action Insight [...]
As unveiled in the quarterly inflation report, the BOE revised down its forecasts on economic growth and inflation, reflecting the softening in business and consumer confidence, the faster pace of fiscal consolidation and a slower improvement in credit conditions. View full post on Action Insight (All Reports)
The Japanese yen is slightly higher today and is gaining momentum in early European session. Bank of Japan left rates unchanged at 0.1% as widely expected. BoJ announced details of a JPY 3T loan scheme, which aims to get Japan out of deflation and achieve sustainable growth with price stability. View full post on Action Insight [...]
Global markets managed to ride on China’s affirmation of Europe’s status as one of the key investment markets and rebounded strongly. Commodities lead the way in rebound against dollar and yen with AUD/JPY and NZD/JPY leading the top movers table, up 4.1% and 3.8% respectively. Euro also managed to gain View full post on Action Insight [...]
Sentiments in Asia are lifted by strong trade data from Japan and New Zealand. Stocks opened lower initially following late weakness in US equities by rebounded strongly as the session goes. Japanese trade surplus jumped much more than expected to 0.73T JPY in April. More importantly, exports rose for the View full post on Action Insight [...]
GBP/JPY rises further to as high as 140.55 so far today. At this point, further rise could still be seen as long as 136.26 minor support holds. The stronger than expected rebound and break of 139.36 cluster resistance (61.8% retracement of 145.19 to 130.00 at 139.38) dampens our immediate bearish view and focus is [...]
Update: Major currencies suffer another round of sharp selloff as the financial markets are rocked by Moody’s contagion warning. Moody’s said in a statement that “each of the six banking systems Portugal, Spain, Italy, Ireland, Greece, the UK… faces different challenges, but the contagion risk could dilute these differences and impose very real, common threats [...]
EUR/JPY’s fall resumes after brief consolidation and drops to as low as 121.00 so far. Intraday bias remains on the downside a test on 119.64 support level. Decisive break there will confirm that whole decline from 139.21 has resumed. On the upside, above 122.63 minor resistance will turn intraday bias neutral and bring consolidations. But [...]
Despite yesterday’s fall to 93.81, the intra-day sharp rebound on cross-selling in yen due to risk appetite (DJI up over 60 points) to 94.19 has dampened our near term bearishness and test of resistance at 94.43 cannot be ruled out, however, break there is needed to signal upmove has resumed… View full post on Action Insight [...]
Dollar’s intra-day retreat adds credence to our view that further consolidation would be seen and current break of the Kijun-Sen suggests deeper correction to 93.00 would be seen, however, support at 92.74 should attract renewed buying interest and bring another rise later. Above resistance at 94.43 would signal upmove has… View full post on Action Insight [...]