| Action Insight Daily Report | Sterling Broadly Lower on Political Concern Sterling drops further across the board as the week starts on concern of the political situation in UK as well as speculation of more quantitative easing from BoE. An opinion poll out on Sunday suggested inconclusive result in this year's general election even though, the ruling Labour Party could remain the biggest party. Yen is steadily in range in spite of broad based rally in Asian stocks. Dollar, on the other hand, recovers mildly as crude oil fails to hold ground after breaking 80 level. A number of important economic data will be released across Atlantic today and we'd look forward to more volatility as the day goes. Full Report Here... | | Special Reports | Unchanged Monetary Policy Stance Expected at BoC's Meeting Both market expectations and economic development evolved recently point to an unchanged monetary policy stance at BoC's March meeting. The central bank will most likely announce to keep its policy rate at 0.25% and keep the statement that 'conditional on the outlook for inflation, the target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010 in order to achieve the inflation target'. Currently, the market anticipates the first rate hike will be in 3Q10 the earliest. Full Report Here... RBA to Pause for a Second Month While RBA' tightening cycle , which began late last year, will continue in 2010, more rate hikes will be delivered in 2H10 as policymakers need to gauge how previous hikes feed through to the economy. We expect the central bank will keep its cash rate unchanged at 3.75% in March. In the minutes for the February meeting, the RBA said the decision to leave the policy rate unchanged was 'finely balanced'. Moreover, the statement 'the widening in the margins between the cash rate and many lending rates, had meant a material adjustment to the stance of monetary policy' indicated RBA's concerns about domestic lending conditions as many commercial banks raised interest rates more than what was guided by the central bank. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: GBP/USD - Sell At 1.5300 As the British pound has remained under pressure, suggesting recent decline is still in progress and weakness towards 1.5087 (61.8% projection of 1.5575 to 1.5187 measuring from 1.5327) is likely, however, oversold condition would prevent sharp fall below 1.4999 (61.8% projection of 1.6277 to 1.5345 measuring from 1.5575) and bring rebound later this week. Full Report Here... Trade Idea: USD/JPY - Sell At 90.00 Despite intra-day marginal fall to 88.70, lack of follow through selling and the rebound from there suggest a temporary low has possibly been formed and retracement to the Kijun-Sen (now at 89.94) is likely, however, reckon renewed selling would emerge around 90.02 (38.2% Fibonacci retracement of 92.16 to 88.70) and bring another decline later. Below said support would extend weakness to support at 88.55, below would bring further fall to 88.24 (61.8% Fibonacci retracement of 84.82 to 93.78), however, as broad outlook is still consolidative, reckon 87.50/60 would hold. Full Report Here... | | Featured Technical Report | Market Highlights | USD/CHF Daily Outlook Daily Pivots: (S1) 1.0679; (P) 1.0748; (R1) 1.0801; More. USD/CHF consolidations from 1.0897 is possibly still in progress in spite of today's recovery. Another fall cannot be ruled out but after all, we'd expect downside to be contained by 1.0608 cluster support (38.2% retracement of 1.0131 to 1.0897 at 1.0604) and bring rally resumption. Above 1.0877 will flip intraday bias back to the upside. Sustained trading above medium term trend line resistance (now at 1.0832) will pave the way to 161.8% projection of 0.9916 to 1.0506 from 1.0131 at 1.1086 next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPAUD | 1.6863 | 1.7006 | -143 | -0.85% | | GBPUSD | 1.5115 | 1.5235 | -120 | -0.79% | | GBPCAD | 1.5925 | 1.6017 | -92 | -0.58% | | EURGBP | 0.8990 | 0.8942 | +48 | +0.53% | | GBPJPY | 134.88 | 135.59 | -71 | -0.53% | Last Updated: Mar 01, 07:20 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Mar 01, 07:20 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 0:30 | AUD | Current Account Balance (AUD) Q4 | -17.5B | -17.2B | -16.2B | -14.7B | | 7:00 | EUR | German Import Price Index M/M Jan | | 0.70% | 0.50% | | | 7:00 | EUR | German Import Price Index Y/Y Jan | | 0.30% | -1.00% | | | 8:30 | CHF | SVME-PMI Feb | | 56 | 56 | | | 8:55 | EUR | German PMI Manufacturing Feb F | | 57.1 | 57.1 | | | 9:00 | EUR | Eurozone PMI Manufacturing Feb F | | 54.1 | 54.1 | | | 9:30 | GBP | PMI Manufacturing Feb | | 56.4 | 56.7 | | | 10:00 | EUR | Eurozone Unemployment Rate Jan | | 10.10% | 10.00% | | | 13:30 | CAD | GDP M/M Dec | | 0.40% | 0.40% | | | 13:30 | CAD | GDP Annualized Q4 | | 4.00% | 0.40% | | | 13:30 | CAD | Industrial Product Price M/M Jan | | 0.50% | -0.10% | | | 13:30 | CAD | Raw Materials Price Index M/M Jan | | 2.00% | -1.70% | | | 13:30 | USD | Personal Income Jan | | 0.40% | 0.40% | | | 13:30 | USD | Personal Spending Jan | | 0.40% | 0.20% | | | 13:30 | USD | PCE Deflator Y/Y Jan | | 2.20% | 2.10% | | | 13:30 | USD | PCE Core M/M Jan | | 0.00% | 0.10% | | | 13:30 | USD | PCE Core Y/Y Jan | | 1.40% | 1.50% | | | 15:00 | USD | ISM Manufacturing Feb | | 57.9 | 58.4 | | | 15:00 | USD | ISM Prices Paid Feb | | 68.1 | 70 | | | 15:00 | USD | Construction Spending M/M Jan | | -0.50% | -1.20% | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors |  The World MoneyShow Hong Kong, April 21-23, 2010 at the Grand Hyatt Hong Kong! You'll meet legendary investment experts Steve Forbes, Mark Mobius, Marc Faber, Alexander Elder, John Bollinger, and many others. You will hear and profit from the experts' in-depth insights into global macroeconomics, equities, futures, forex, asset allocation, and more! Conference details and Registration! 
| |
