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| Action Insight Weekly Report | Markets Snapshot |
Dollar Rebounded on Data and YieldDollar staged a strong rebound towards the end of the week with support from some solid economic data as well as sharp surge in treasury yield on Friday. The headline NFP number of 36k growth was a disappointment, but markets focus were on the unemployment rate, which dipped sharply from 9.4% to 9.0%, the lowest level since April 2009. Indeed, the drop in unemployment from November's 9.8% to January's 9.0% was the biggest two-month decline since 1958. The unemployment rate alone won't be enough to hold Fed back from executing the $600b QE2 program. Fed Chairman Bernanke has made it clearly that "a sustained period of stronger job creation" is needed before confirming firm establishment of recovery. But the sharp fall in unemployment rate does provide some food for thoughts and debates in the upcoming FOMC meetings. |    |
| Featured Technical Report | |
USD/CHF Weekly OutlookAfter edging lower to 0.9329 last week, USD/CHF staged a strong rebound to close at 0.9549. The break of the near term falling channel suggests that choppy fall from 0.9782 has completed at 0.9329 already. More important, the structure suggests that it's merely a correction to rise from 0.9300. Initial bias is on the upside this week for 0.9686 resistance first. Break will argue that rebound from 0.9300 is resuming for 1.0065 key resistance. On the downside, though, below 0/9465 minor support will flip intraday bias back to the downside for 0.9300/9329 support zone instead. |
| Suggested Readings | |
The Week in Review and Preview |
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