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| Action Insight Weekly Report | Markets Snapshot |
Dollar Rebounded as FedSpeaks Affirmed Measured Tapering ScheduleDollar rebounded broadly last week and reversed all the post NFP losses. Markets received a chorus of Fed speaks who played down the significance of the disappointing December job data. And they all expressed their expectation of measured tapering ahead this year. And USD 10b dial back in asset purchase at every FOMC meeting is now still the general consensus. Dollar index extended recent rally from 79.68 and had a strong close at 81.18. However, it should be noted that other markets didn't quite follow. DOW did rebound after initial dive but the close of 16548.56 was well below recent historical high of 16588.25. 10 year yield also failed to sustain initial gains and closed the week down at 2.827%. |
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| Featured Technical Report | |
EUR/USD Weekly OutlookEUR/USD's recovery was limited at 1.3699 last week and dropped sharply since then. Break of 1.3547 confirmed resumption of the decline form 1.3892. Initial bias remains on the downside this week. As noted before, considering bearish divergence condition in daily MACD, the rise from 1.2755 might be completed at 1.3892 already. Next downside target is 38.2% retracement of 1.2755 to 1.3892 at 1.3458. On the upside, break of 1.3699 is needed to confirm completion of the fall from 1.3892. Otherwise, outlook will stay mildly bearish. |
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The Week in Review and Outlook | ||
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