| Action Insight Daily Report | Daily Report: AUD and NZD Softer, Focus Turns to SNB Commodity currencies are slightly softer today on a couple of factors. Firstly, Australia job report missed expectations and showed only 0.4k growth in February. Unemployment rate also rose slightly from downwardly revised 5.2% to 5.3%. Secondly, RBNZ was somewhat more dovish then expected and hinted that interest could peak a lower level than previously thought as the bank starts the tightening cycle later this year. Thirdly, inflation reading in China jumped to a 16 month high of 2.7% yoy in February, raising concern of more monetary tightening. Dollar and yen are slightly firmer but after all, markets remain in familiar range. Full Report Here... | | Special Report | SNB to turn More Hawkish in Monetary Policy Despite recent positive economic data, the SNB will continue to leave the target range for 3-month LIBOR at 0-0.75, targeting to keep the rate at 0.25%, in March. The Monetary Policy Announcement will likely turn more hawkish with upgrades in both growth and inflation outlooks. Full Report Here... RBNZ Retained Monetary Stance, Raised Growth Outlook But Remained Cautious As we and the market expected, the RBNZ left the OCR unchanged at 2.5% and reiterated the stance to 'removing policy stimulus around the middle of 2010'. The quarterly MPS also revealed modest upgrades in 2011 GDP growth and inflation. However, potential GDP growth in 2010 has been revised downward. We retain our view that the RBNZ will begin tightening in June with a hike of +25 bps. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: USD/CHF - Sell At 1.0785 Although the greenback fell to 1.0686 yesterday, as dollar has recovered after holding above previous minor support at 1.0676, suggesting further consolidation within 1.0648-1.0810 range would take place and rebound to the Ichimoku cloud top (now at 1.0769) cannot be ruled out, however, indicated upper range should continue to hold, bring another decline later. Break of strong support at 1.0647-48 would confirm top has been formed earlier at 1.0899 and bring retracement of recent upmove to 1.0605-09 (38.2% Fibonacci retracement of 1.0130-1.0899 and previous support) and later towards 1.0563 (50% Fibonacci retracement of 1.0227 to 1.0899). Full Report Here... Trade Idea: GBP/USD - Sell At 1.5040 Although cable fell to 1.4873 yesterday, as the British pound recovered after holding above indicated minor support at 1.4855, suggesting further consolidation would take place and retracement to 1.5035-44 (50% Fibonacci retracement of 1.5197 to 1.4873 and current level of the Kijun-Sen and Ichimoku cloud bottom) cannot be ruled out, however, renewed selling interest should emerge around there and bring another decline. Break of said support at 1.4855 would confirm correction from 1.4781 is over and bring resumption of recent decline for retest of 1.4781 later this week. Full Report Here... | | Featured Technical Report | Market Highlights | USD/JPY Mid-Day Outlook Daily Pivots: (S1) 89.62; (P) 89.97; (R1) 90.32; More. USD/JPY rebounded strongly after drawing support from 4 hours 55 EMA but it's still limited below 90.68 resistance. Intraday bias remains neutral and more consolidations could still be seen. However, another rise would be mildly in favor as long as 89.19 minor support holds. Above 90.68 will bring rise resumption towards near term falling trend line (now at 91.48). On the downside, note that further break of 89.19 will argue that rebound from 88.13 is over and will flip intraday bias back to the downside for retesting this support instead. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
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(%) | | NZDJPY | 63.19 | 63.52 | -33 | -0.52% | | NZDUSD | 0.6988 | 0.7019 | -31 | -0.44% | | AUDNZD | 1.3085 | 1.3035 | +50 | +0.38% | | EURJPY | 123.24 | 123.62 | -38 | -0.31% | | CHFJPY | 84.33 | 84.59 | -26 | -0.31% | Last Updated: Mar 11, 08:15 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Mar 11, 08:15 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 20:00 | NZD | RBNZ Interest Rate Decision | 2.50% | 2.50% | 2.50% | | | 23:50 | JPY | GDP Q/Q Q4 F | 0.90% | 1.00% | 1.10% | | | 23:50 | JPY | GDP Annualized Q4 F | 3.80% | 4.00% | 4.60% | | | 23:50 | JPY | GDP Deflator Y/Y Q4 F | -2.80% | -2.90% | -3.00% | | | 0:30 | AUD | Employment Change Feb | 0.4K | 15.2K | 52.7K | 56.5K | | 0:30 | AUD | Unemployment Rate Feb | 5.30% | 5.30% | 5.30% | 5.20% | | 10:00 | EUR | ECB Monthly Bulletin | | -- | -- | | | 13:00 | CHF | SNB Interest Rate Decision | | 0.25% | 0.25% | | | 13:30 | CAD | Capacity Utilization Rate Q4 | | 70.00% | 67.50% | | | 13:30 | CAD | New Housing Price Index M/M Jan | | 0.40% | 0.40% | | | 13:30 | CAD | Trade Balance (CAD) Jan | | 0.4B | -0.2B | | | 13:30 | USD | Trade Balance Jan | | -$41.0B | -$40.2B | | | 13:30 | USD | Initial Jobless Claims | | 450K | 469K | | | 15:30 | USD | Natural Gas Storage | | -107B | -116B | | | | 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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