| Action Insight Mid-Day Report | Sterling Soars on Job Market Data Sterling rockets higher today, boosted by stronger than expected job market data. Claimant count unexpected dropped -32.3k in February versus expected rise of 8.2k. Claimant count rate also dropped from 5.0% to 4.9%. Unemployment was unchanged at 7.8% versus consensus of 7.9%. The BOE minutes unveiled that MPC members voted unanimously on March 4 to keep the policy rate unchanged at 0.5% and to maintain the asset purchase program at 200B pound. While growth outlook remained mixed, policymakers raised concerns over the overshooting inflation. Full Report Here... | | Special Reports | BOE voted 9-0 to Stay Status Quo, Sterling Rallied as Jobless Claims Reduced Unexpectedly The BOE minutes unveiled that MPC members voted unanimously on March 4 to keep the policy rate unchanged at 0.5% and to maintain the asset purchase program at 200B pound. While growth outlook remained mixed, policymakers raised concerns over the overshooting inflation. Full Report Here... BOJ Doubled Funding Operations. Dissenting Votes Increased Uncertainty on Future Easing Under the pressure from the government and dismal inflation outlook, the Bank of Japan announced to double the size of the fixed-rate funds-supplying operation against pooled collateral (the fixed-rate operation) to 20 trillion yen. The duration is maintained at 3 months. At the same time, policymakers left the uncollateralized overnight call rate to at around 0.1%. Full Report Here... FOMC Retained The 'Extended Period' Language. Hoeing The Only Dissenter As we and the market anticipated, the FOMC left its policy rate unchanged at 0-0.25% and retained the pledge to keep interest rates at current low level for an 'extended period'. Economic assessment changed little from January despite modest improvement from the job market. We believe employment situation remains the core factor for the Fed to consider taking away the 'extended period' language. Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Buy At 123.90 As the single currency continued to move higher, suggesting a test of resistance at 125.36 would be seen, however, break there is needed to confirm wave v has ended at 119.66 and the rise from there would extend gain to 126.00, then towards 126.95/00. Full Report Here... Trade Idea: AUD/USD - Buy At 0.9135 The Australian dollar resumed recent upmove as suggested and signals the wave iii from 0.8578 is still in progress and further gain to 0.9294 (100% projection of wave i) would be seen, however, overbought condition would limit upside and reckon resistance at 0.9331 would hold on first testing. Full Report Here... | | Featured Technical Report | Market Highlights | GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.5059; (P) 1.5159; (R1) 1.5342; More GBP/USD's rebound extends further to as high as 1.5386 so far today and further rise could still be seen. However, we'd still expect upside to be limited by 38.2% retracement of 1.6456 to 1.4783 at 1.5422 and bring fall resumption. Below 1.5208 minor support will turn intraday bias neutral first. Further break of 1.4977 will argue that correction from 1.4783 is completed and recent down trend is possibly resuming for a new low below 1.4783. However, note that sustained break of 1.5422 will dampen our view and would bring stronger rise towards next cluster resistance at 1.5814 instead. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDJPY | 64.70 | 64.09 | +61 | +0.94% | | GBPJPY | 138.82 | 137.63 | +119 | +0.86% | | NZDUSD | 0.7153 | 0.7097 | +56 | +0.78% | | EURGBP | 0.8961 | 0.9028 | -67 | -0.75% | | AUDJPY | 83.53 | 82.93 | +60 | +0.72% | Last Updated: Mar 17, 13:20 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Mar 17, 13:20 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:30 | AUD | Westpac Leading Index M/M Jan | 0.20% | -- | 0.50% | 0.60% | | 23:50 | JPY | Tertiary Industry Index M/M Jan | 2.90% | 1.30% | -0.90% | | | 03:49 | JPY | BoJ Interest Rate Decision | 0.10% | 0.10% | 0.10% | | | 09:30 | GBP | BoE Meeting Minutes | 0--0--9 | 0--0--9 | 0--0--9 | | | 09:30 | GBP | Claimant Count Change Feb | -32.3K | 8.2K | 23.5K | | | 09:30 | GBP | Claimant Count Rate Feb | 4.90% | 5.00% | 5.00% | | | 09:30 | GBP | ILO Unemployment Rate (3M) Jan | 7.80% | 7.90% | 7.80% | | | 12:30 | CAD | Wholesale Sales M/M Jan | 3.00% | 0.60% | 0.70% | | | 12:30 | USD | PPI M/M Feb | -0.60% | -0.20% | 1.40% | | | 12:30 | USD | PPI Y/Y Feb | 4.40% | 5.10% | 4.60% | | | 12:30 | USD | PPI Core M/M Feb | 0.10% | 0.10% | 0.30% | | | 12:30 | USD | PPI Core Y/Y Feb | 1.00% | 1.00% | 1.00% | | | 14:30 | USD | Crude Oil Inventories | | 0.6M | 1.4M | | | | Suggested Readings | FOMC 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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