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| Action Insight Weekly Report | Markets Snapshot |
Dollar Pared Post FOMC Gains as Focus Turns to Economic DataDollar was boosted by the more hawkish than expected FOMC statement. Weaker than expected GDP from US limited dollar's rally. And the greenback lost momentum towards the end of the week as dollar bulls turned cautious ahead of this week's key economic data. Dollar in the end closed the week mixed, up against Euro, Swiss and Aussie but down against other major currencies. Canadian dollar ended the week as the strongest one following the rebound in crude oil prices. Meanwhile, Australian dollar was the weakest one as speculations of further rate cut continued. |
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| Featured Technical Report | |
EUR/USD Weekly OutlookEUR/USD dropped to 1.0896 last week but formed a temporary low there and recovered. Initial bias is neutral this week first. We're holding on the view that corrective rise from 1.0461 has already completed ahead of 38.2% retracement of 1.3993 to 1.0461 at 1.1810. Break of 1.0896 will target 1.0807 support first. Break will pave the way for 1.0461 low. This will remain the preferred case as long as 1.1495 resistance holds. |
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The Week in Review and Outlook | ||
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