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| Action Insight Weekly Report | Markets Snapshot |
Dollar Rebounded Further as Risk Assets Liquidation ContinuedDollar extended recent rebound last week as investors continued to unwind positions in risky assets. Commodities remained weak even though selling momentum eased a bit. Crude oil and oil were basically bounded in range even though silver dipped to new low. CRB commodities index also extended recent decline to as low as 333.50. Euro was pressured as markets' focus turned back from ECB rate expectations to sovereign debt crisis. Sterling was also soft as investors scaled back rate expectations. Aussie and Loonie, on the other hand, followed commodities lower. The Japanese yen closely follow dollar on safe haven flows. |    |
| Featured Technical Report | |
EUR/USD Weekly OutlookEUR/USD's fall from 1.4938 extended further to as low as 1.4066 last week and the break of 1.4157 cluster support (38.2% retracement of 1.2873 to 1.4938 at 1.4149) argues that whole rise from 1.2873 has completed at 1.4938 already. Intraday bias remains on the downside initially this week and deeper fall should now be seen to 1.3427/3860 support zone next. On the upside, above 1.4338 resistance is needed to suggest near term bottoming. Otherwise, outlook will remain bearish. |
| Special Report |
World Inflation II: Commodity Currencies - AUD, NZD, CADThe current wave of inflation has been brought about by commodities. We, therefore, feel it necessary to talk a look at countries with the so-called 'commodity currencies'. We found Australia is the one facing more severe price pressures. For New Zealand, inflation has been affected by one-factors while underlying pressures remained subdued. Both headline and core inflation in Canada accelerated but the central bank is not likely to change its dovish view in coming months. |
| Suggested Readings | |
The Week in Review and Preview |
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