Tuesday, July 21, 2015

Action Insight Mid-Day Report 7-21-15

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Action Insight Market Overview Markets Snapshot

Mid-Day Report: Forex Markets Mixed, Dollar Pared Gains

The forex markets are a bit mixed today. Dollar extends rise against sterling and yen but pared back some gains against other major currencies. The greenback maintained a near term bullish outlook but upside momentum is diminishing much. Commodity currencies are mildly higher on recovery and the selloff in commodities stabilized. Also, Euro recovered against the greenback and yen. In other markets, Gold is hovering around 1100 handle while crude oil gyrates around 50. There is no clear sign of a new round in selloff in both. European stocks are mildly lower after failing to extend early gains. Meanwhile, US stocks open sharply lower with DJIA losing 18000 again.

Full Report Here...


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Featured Technical Report

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 124.10; (P) 124.23; (R1) 124.44; More...

Intraday bias in USD/JPY remains on the upside for the momentum. Firm break of 124.43 resistance would likely extend the larger up trend through 125.85 high. On the downside, break of 122.91 support is needed to confirm completion of the rebound. Otherwise, outlook will stay cautiously bullish in case of retreat.

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Economic Indicators Update

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GMT Ccy Events Actual Consensus Previous Revised
1:30 AUD RBA Minutes
6:00 CHF Trade Balance Jun 3.58B 2.50B 3.43B 6.41B
8:30 GBP Public Sector Net Borrowing (GBP) Jun 8.6B 8.7B 9.4B 8.4B
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