| Action Insight Daily Report | Greece to Unveil New Budget Cut Plan, Services and Job Data Awaited Dollar is mildly lower on news that Greece is going to unveil a new EUR 4.8b deficit cut plan, which include higher tax on tobacco, alcohol and sales, as well as deeper reduction in salaries of state workers. Yield on benchmark 10 year Greek bonds fell to the lowest level since February 12. Meanwhile, CDS linked to the Greek bonds also dropped over 30 basis points to the lowest level since January 18. European majors are seen recovery mildly but still, Euro and Swissy are both limited by near term resistance against dollar for the moment and there is no change in Euro's bearish outlook against commodity currencies. Finalized Eurozone PMI services and retail sales will be released in the European session today. Full Report Here... | | Special Reports | BOC Kept Policy Rate at 0.25% but Delivered More Hawkish Statement As expected, the Bank of Canada left the overnight rate target at 0.25%. Moreover, the central bank reiterated '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'. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: GBP/USD - Buy At 87.75 Cable's intra-day rebound to 1.5077 (our short entry at 1.5080 did not get a fill) suggest temporary low has been formed at 1.4781 earlier and further consolidation would be seen, above said resistance would bring retracement to 1.5120/30, however, reckon 1.5176-78 (38.2% Fibonacci retracement of 1.5816 to 1.4781 and 50% Fibonacci retracement of 1.5575 to 1.4781) would remain intact and bring another decline later. Only below 1.4855 (yesterday's low) would signal recent fall has resumed for retest of 1.4781 later, then towards 1.4717 (1.618 times projection of 1.7044 to 1.5708 measuring from 1.6879), however, loss of momentum should limit downside to 1.4674 (1.236 times projection of 1.6459 to 1.5535 measuring from 1.5816). Full Report Here... Trade Idea: EUR/USD - Buy At 1.3500 As indicated in our previous update, despite yesterday's brief fall to 1.3433, lack of follow through selling and the subsequent rebound above the Ichimoku cloud top suggest a temporary low has possibly been formed there and gain to resistance at 1.3683-93 would be seen, however, break there is needed to confirm and bring correction of recent decline to 1.3750 but reckon 1.3789 resistance would remain intact. Full Report Here... | | Featured Technical Report | Market Highlights | EUR/GBP Daily Outlook Daily Pivots: (S1) 0.9040; (P) 0.9070; (R1) 0.9124; More. With 4 hours MACD crossed below signal line, an intraday top is in place at 0.9137 and bias is turned neutral. Some more consolidations might be seen and deeper pull back to 38.2% retracement of 0.8662 to 0.9137 at 0.8956, cannot be ruled out. But downside should be contained well above 0.8841 cluster support (61.8% retracement at 0.8843) and bring rally resumption. Above 0.9137 should target medium term trend line resistance at 0.9220 next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPJPY | 133.37 | 132.98 | +39 | +0.29% | | CADJPY | 85.99 | 85.77 | +22 | +0.26% | | GBPUSD | 1.5005 | 1.4970 | +35 | +0.23% | | NZDJPY | 61.92 | 61.79 | +13 | +0.21% | | AUDJPY | 80.41 | 80.25 | +16 | +0.20% | Last Updated: Mar 03, 07:20 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Mar 03, 07:20 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 0:01 | GBP | Nationwide Consumer Confidence Feb | 80 | 71 | 73 | 74 | | 0:01 | GBP | BRC Shop Price Index Feb | 1.70% | -- | 2.30% | | | 0:30 | AUD | GDP Q/Q Q4 | 0.90% | 0.90% | 0.20% | 0.30% | | 0:30 | AUD | GDP Y/Y Q4 | 2.70% | 2.40% | 0.60% | | | 7:00 | EUR | German Retail Sales M/M Jan | 0.00% | -0.60% | 0.90% | 0.90% | | 7:00 | EUR | German Retail Sales Y/Y Jan | -3.40% | -1.10% | -2.50% | -1.80% | | 8:55 | EUR | German PMI Services Feb F | | 51.7 | 51.7 | | | 9:00 | EUR | Eurozone PMI Services Feb F | | 52 | 52 | | | 9:30 | GBP | U.K. PMI Services Feb | | 55 | 54.5 | | | 10:00 | EUR | Eurozone Retail Sales M/M Jan | | -0.30% | 0.00% | | | 10:00 | EUR | Eurozone Retail Sales Y/Y Jan | | -1.60% | -1.60% | | | 12:30 | USD | Challenger Job Cuts Y/Y Feb | | -- | -70.40% | | | 13:15 | USD | ADP Employment Change Feb | | -10K | -22K | | | 15:00 | USD | ISM Non-Manufacturing Composite Feb | | 51 | 50.5 | | | 15:30 | USD | Crude Oil Inventories | | 1.4M | 3.0M | | | 19:00 | USD | Fed Beige Book | | -- | -- | | | | 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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