| Action Insight Daily Report | Yen and Dollar Consolidate as Bernanke Takes Center Stage Yen and dollar retreat mildly in Asian today as markets stabilized from yesterday's risk aversion moves. Main focus will now turn to Fed Bernanke's two day semiannual congressional testimony. Last week's discount rate hike from Fed was a surprise to the markets considering that it's just a week after Bernanke laid out the exit strategy. Bernanke will likely emphasis again that the discount rate hike is not a broad move to tighten monetary policy but merely an effort to normalize the gap between the discount and target rates. The main question is how Bernanke could ensure markets that how Fed could exit from stimulus measures at the right time, with the right steps, that wouldn't hurt the momentum of recovery. Reactions from the financial markets will have clear reflection of the confidence level of investors directly. Full Report Here... | | Special Report | 2010 Currency Outlook: CAD Trade-weighted Canadian dollar rallied +16% in 2009 as driven by broad-based rallies in commodity currencies, including Australian dollar and New Zealand. However, unlike other commodity exporter economy, Canada's policy rate has been staying at exceptionally low level, at 0.25%, for most of the time in 2009. We expect the Bank of Canada will be a laggard in removing its stimulus measures compared with other commodity currencies as well as the dollar. However, upside risk to the currency is strength in oil price which should drive CAD higher. Thus, we expect USDCAD to be range-bounded, with low chance of striking parity, this year. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: USD/JPY - Sell At 91.00 Yesterday's selloff to 89.92 signals the rise from 88.55 has ended at 92.16 earlier and consolidation with downside bias is seen for weakness to 89,.50 and possibly towards support at 89.25, however, as broad outlook remains consolidative, reckon downside would be limited to 88.80/85 and said support at 88.55 should remain intact, bring further choppy trading later. Full Report Here... Trade Idea: EUR/USD - Sell At 1.3635 Yesterday's selloff from 1.3693 suggests the correction from 1.3443 has possibly ended at 1.3693 and weakness to 1.3470 is likely, however, only break of recent low at 1.3443 would signal decline has resumed and extend fall to 1.3400/05 (approx. 61.8% Fibonacci retracement o 1.2329 to 1.5145). Having said that, loss of downward momentum should prevent sharp decline below there and reckon 1.3343-48 (50% projection of 1.4580-1.3585 measuring from 1.3840 and 1.4415 to 1.3532 measuring from 1.3789) would hold on first testing. Full Report Here... | | Featured Technical Report | Market Highlights | GBP/USD Daily Outlook Daily Pivots: (S1) 1.5434; (P) 1.5477; (R1) 1.5523; More GBP/USD's recovery is still in progress and further rise cannot be ruled out. But after all, upside is expected to be limited well below 1.5814 resistance and bring fall resumption. Below 1.5430 minor support will flip intraday bias back to the downside first. Break of 1.5350 low will target 61.8% projection of 1.6456 to 1.5534 from 1.5814 at 1.5244 next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | CHFJPY | 83.48 | 83.21 | +27 | +0.32% | | EURJPY | 122.24 | 121.85 | +39 | +0.32% | | USDCHF | 1.0811 | 1.0839 | -28 | -0.26% | | EURUSD | 1.3542 | 1.3507 | +35 | +0.26% | | NZDJPY | 62.58 | 62.42 | +16 | +0.26% | Last Updated: Feb 24, 07:15 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 24, 07:15 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:50 | JPY | Trade Balance (JPY) Jan | 0.73T | 0.51T | 0.52T | 0.66T | | 23:50 | JPY | CSPI Y/Y Jan | -1.00% | -1.10% | -1.50% | | | 7:00 | EUR | German GDP Q/Q Q4 F | | 0.00% | 0.00% | | | 7:00 | EUR | German GfK Consumer Confidence Mar | | 3 | 3.2 | | | 10:00 | EUR | Eurozone Industrial New Orders M/M Dec | | -1.00% | 1.60% | | | 10:00 | EUR | Eurozone Industrial New Orders Y/Y Dec | | 7.60% | -1.50% | | | 15:00 | USD | New Home Sales Jan | | 351K | 342K | | | 15:00 | USD | Fed's Bernanke Testimony | | -- | -- | | | 15:30 | USD | Crude Oil Inventories | | 1.8M | 3.1M | | | | 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! 
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