Action Insight Weekly Report	Markets Snapshot
Euro Stayed in Range after a Week of IMF Reports and Spain's Downgrade Equities did pull back last week on growth worry as IMF lowered global GDP forecasts. That helped the greenback and yen recovered but there was no sustainable buying. European majors somewhat shrugged off IMF's comments and Spain's downgrade and reclaimed much ground against other major currencies towards the end of the week. EUR/USD and EUR/JPY were kept in recent range and the sideway trading could extend initially this week. Nonetheless, we'd anticipate recent rally in the two pairs to resume soon, possibly in the latter part of this week. Full Report Here...
Featured Technical Report
EUR/JPY Weekly Outlook EUR/JPY's fall was contained at 100.14 last week and recovered. But still, it's bounded inside recent converging range. Initial bias remains neutral this week for some more sideway trading first. On the upside, above 102.79 will argue that recent rally from 94.11 is finally resuming and will turn bias to the upside for 103.86 first. Break will confirm and target 61.8% retracement of 111.43 to 94.11 at 104.81 and then 111.43 key resistance. On the downside, below 100.14 will bring deeper decline to extend the correction fro 103.86. But we'd expect strong support from 97.98/99.18 support zone to contain downside and complete the consolidations. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Special Reports
Beige Book Said US Economy Showed Modest Expansion The latest Beige Book survey by the Fed showed that the US economy 'expanded modestly', compared with the reference 'expanded gradually' used in the August report. While most districts showed modest growth, the New York District had 'a leveling off' in economic activity and Kansas City showed 'some slowing in the pace of growth'. Overall, improvement was seen in the housing market and the automobile sector. Consumption was 'generally flat to up slightly' while the manufacturing sector was 'somewhat improved'. The report appeared to be inline with Fed Chairman Ben Bernanke’s earlier comments that the pace of economic growth is insufficient to bring the employment conditions back to normal. Read more...
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