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| Action Insight Weekly Report | Markets Snapshot |
Risk Appetite Resilient after a Volatile WeekIt was a rather strange but revealing week. Markets suffered much volatility on central bank disappointments, in particular ECB's lack of concrete actions. Economic data were also mixed. But the underlying strength in risk markets were impressively strong. Despite intra-week setback, DOW managed to close above 13000 level at 13096.17. S&P 500 continued its march to 1400 level. FTSE 100 also extended the short term uptrend to close at 5787. Spanish 10 year yield dropped back below 7% after intra-week spike. Dollar index closed lower after a brief rebound attempt while EUR/USD continued to stay well above 1.2 psychological level. |
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| Featured Technical Report | |
EUR/JPY Weekly OutlookAfter some setback to 94.92, EUR/JPY's rebound from 94.11 resumed by taking out 97.32 resistance. Initial bias remains on the upside this week for trend line resistance (now at 98.00) first. On the downside, break of 94.92 is needed to indicate completion of such rebound. Otherwise, near term outlook will stay cautiously bullish for further rally. |
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The Week in Review and Outlook | ||
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