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Weekly Review and Outlook: Yen Surged after BoJ, Dollar to Look for Support from Key Economic Data
Yen surged broadly and strongly last week after BoJ surprised the markets by standing pat. On the other hand, dollar ended as the second weakest major currency as FOMC left no hints on June hint in the post meeting statement. There was additional pressure to the greenback and stocks after

EUR/USD Weekly Outlook
EUR/USD's strong rise last week argues that consolidation pattern from 1.1464 has completed at 1.1217 already. Initial bias is on 1.1464 and break will confirm this case. In such case, EUR?USD will target 1.1713 resistance next. But still, we'd continue to expect strong resistance from 38.2% retracement of 1.3993 to

USD/JPY Weekly Outlook
USD/JPY dropped sharply last week and accelerated through long term fibonacci level at 106.63. There is no sign of bottoming yet and initial bias stays on the downside for deeper decline. USD/JPY should target next fibonacci level at 100.70, which is close to 100 psychological level. On the upside, above

GBP/USD Weekly Outlook
GBP/USD's rise continued last week as is pressing 1.4667 key resistance level. At this point, we'd continue to extend strong resistance from 1.4667 to limit upside and bring reversal. Below 1.4472 support will argue that whole rebound from 1.3835 is completed and will turn bias to the downside for 1.4004

USD/CHF Weekly Outlook
USD/CHF's shall fall last week and break of 0.9584 support indicates that rebound from 0.9498 is finished at 0.9796. And more importantly, whole down trend from 1.0327 is likely resuming. Initial bias stays on the downside this week for 0.9498 and then 0.9475 key support level. On the upside, above

AUD/USD Weekly Outlook
AUD/USD's decline last week argues that a short term top was already formed at 0.7833, ahead of medium term fibonacci level at 0.7849. Further decline is expected this week as log as 0.7690 resistance holds. AUD/USD should target 38.2% retracement of 0.6826 to 0.7833 at 0.7448 first. Sustained break there

USD/CAD Weekly Outlook
USD/CAD's decline from 1.4689 continued last week. While downside momentum diminished, there is no clear sign of bottoming yet. Further fall is expected this week to next medium term fibonacci level at 1.2048. On the upside, above 1.2693 minor resistance will turn bias neutral and bring consolidations. But outlook will

GBP/JPY Weekly Outlook
GBP/JPY failed to take out 164.09 last week and the sharp fall from 162.80 suggests that rebound from 151.64 is already finished. Initial bias remains on the downside this week for retesting 151.64 low. Break will extend larger decline from 195.86 to next long term fibonacci level at 147.01. On

EUR/JPY Weekly Outlook
EUR/JPY's sharp fall last week and breach of 121.70 support argues that down trend from 149.76 is resuming. Initial bias remains on the downside this week. Current fall should now extend to next projection level at 117.37. On the upside, break of 126.46 resistance is needed to indicate short term

EUR/GBP Weekly Outlook
EUR/GBP dropped to as low as 0.7334 last week before forming a temporary low there and recovered. Another fall could be seen as correction from 0.8116 extends. But we'd expect strong support from 38.2 retracement of 0.6981 to 0.8116 at 0.7682 to contain downside and bring rebound. On the upside,

EUR/CHF Weekly Outlook
EUR/CHF's consolidation from 1.1015 temporary top continued last week and outlook is unchanged. Initial bias stays neutral this week first. We maintain the view that rebound from 1.0809 is resuming and favors another rise. Above 1.1023 resistance will confirm this case and target 1.1060 first, which is close to both

Weekly Economic and Financial Commentary
Real GDP grew at just a 0.5 percent annual rate during the first quarter, repeating an all-too-familiar pattern. The first quarter has shown an uncanny ability to turn out to be the weakest of the year, having done so in four of the past six years (top chart). While part

The Weekly Bottom Line
The last week of April was busy for global markets in the midst of earnings season. Along with two major central bank decisions, investors had to digest the last batch of key economic indicators for the first quarter of the year. The mood was relatively positive through much of the

Fundamental Recap: Unchanging Rates Lead to Changing Markets
Three major central bank policy decisions occurred this past week that followed in the footsteps of the European Central Bank's (ECB) decision during the previous week. The three were, in chronological order, the US Federal Reserve, the Reserve Bank of New Zealand (RBNZ), and the Bank of Japan (BoJ). In

FX Analysis and Technical Outlook
Pressure on the dollar stemming from the Fed's consistently cautious stance and lackluster US economic data in recent weeks, including the recent weaker-than-expected GDP reading, has resulted in an extended retreat from major resistance for USD/CHF. At the start of the past trading week, the retreat began at a critical

Weekly Focus: Uncertainty from Start of Year Has Eased but Brexit Risks Lurking
The BoJ's inaction may be due to the economy doing better than many envisaged. The pickup in global inflation is flying under the radar, in our view. Upside risks to the long end of the EUR swap curve are rising on oil, global IP, reduced Brexit risks and issuance. The USD is

Week Ahead in FX: USD Falls After Fed Holds Gives No Rate Hike Hints
The USD depreciated against major pairs after the Federal Open Market Committee (FOMC) decided to hold rates unchanged in April. The Fed's patience combined with a shocking inaction from the Bank of Japan (BOJ) on Thursday as Japanese central bank also decided to wait until more data was available to

Trade Idea Wrap-up: USD/CHF - Sell at 0.9655

The greenback tumbled again today and broke below previous support at 0.9585, suggesting the decline from 0.9797 top is still in progress and may extend weakness to previous support at 0.9542, however, break there is needed to confirm rebound from 0.9499 low has indeed ended, bring eventual retest of this

Trade Idea Wrap-up: GBP/USD - Stand aside

Cable has risen again after brief retreat to 1.4577, suggesting recent erratic rise from 1.3836 low is still in progress and may extend further gain to 1.4680-85 (100% projection of 1.3836-1.4515 measuring from 1.4005), however, loss of upward momentum should limit upside to 1.4700-10 and reckon 1.4740-50 would hold, risk

Trade Idea Wrap-up: EUR/USD - Stand aside

Although the single currency has risen again after brief pullback to 1.1370 and near term upside risk remains for the rise from 1.1215 to extend gain to previous resistance at 1.1465, a firm break above there is needed to retain bullishness and signal early upmove has resumed for headway to

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