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| Action Insight Weekly Report | Markets Snapshot |
Yen Tumbled Before Month Close on BoJ Speculations, Dollar to Face Key Economic DataYen's broad based weakness continued last week on the back of extended rally in risk markets as well as expectation of further stimulus from BoJ. US equities continued to make new record high with DOW hitting as high as 16174.51 while S&P 500 hit 1813.55. German DAX also hit new record high 9424.62. US treasuries attempted to stage a recovery during the markets but failed lacked follow through momentum. 10 year yield ended the week mildly lower at 2.741% while 30 year yield closed lower at 3.808%. No much development were seen in commodity markets with crude oil extending recent market towards 90 psychological level. Gold was soft in range around 1250 but there was no follow through selling below there. Dollar index is still struggling in consolidative pattern around 55 days EMA and stayed above 80.50. |
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| Featured Technical Report | |
EUR/USD Weekly OutlookEUR/USD's recovery from 1.3294 extended higher last week. While it started to lose upside momentum again, further rise could be seen as long as 1.3520 minor support holds, towards 100% projection of 1.3294 to 1.3578 from 1.3399 at 1.3683. But we'd expect strong resistance above there, and below 1.3832, to limit upside to complete the rebound. Fall from 1.3832 is expected to resume later and break of 1.3520 will turn bias to the downside for 1.3399 and below first. |
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The Week in Review and Outlook | ||
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