| Action Insight Daily Report | Yen Recovers on Repatriation, Yuan Speculation, Soft Stocks Japanese yen recovers today as markets are expecting Japanese company to repatriate as much as JPY 1.5% profits in March for fiscal year end. Also, PBoC Governor Zhou Xiaochuan said that sooner or later, China will exit from special exchange rate mechanism implemented during the global financial crisis, i.e. a de-facto peg to US dollar. Yi Gang, head of the State Administration of Foreign Exchange, said that "China’s relatively high interest rates and some yuan appreciation expectations may attract some cross-border arbitrage capital," and that could give some pressure to yuan for appreciation. Stocks in Asian are quietly trading in tight range today. Full Report Here... | | Special Report | RBNZ to Hold Monetary Policy Unchanged. Focus on the Quarterly MPS The RBNZ will likely leave the OCR at 2.5%, for the 11th month, at the March meeting. Therefore, the market will focus on the Monetary Policy Statement as well as how the central bank describe economic outlook. On the whole, we expect the RBNZ will deliver a neutral tone, if not slightly more dovish than January's, on the outlook as economic data released in recent weeks were rather mixed. The post- meeting statement should retain the reference that 'we would expect to begin removing policy stimulus around the middle of 2010'. Full Report Here... | | Candlesticks & Ichimioku Analysis | Trade Idea: USD/JPY - Buy At 89.15 The greenback retreated again as suggested in our previous update and we are keeping our view that further consolidation below 90.69 would take place, as price already broke below the Tenkan-Sen, retracement towards the Kijun-Sen (now at 89.41) is likely but renewed buying interest should emerge around 89.11 (61.8% Fibonacci retracement of 88.14 to 90.69) and bring rebound later. Above the Tenkan-Sen and Ichimoku cloud top (now at 90.28 and 90.31 respectively) would bring retest of yesterdays high at 90.69, break there would extend the rise from 88.14 to 91.00 and possibly towards 91.40/50 later this week. Full Report Here... Trade Idea: EUR/USD - Buy At 1.3530 Despite yesterday's rise to 1.3705, the retreat from there suggests further choppy trading within 1.3530-1.3736 range would take place and weakness to the Ichimoku cloud bottom (now at 1.3551) is likely, however, reckon said lower level would limit downside and bring another rebound later. Above resistance at 1.3705 would bring test of indicated upper range at 1.3736, break there would signal the rise from 1.3433 low has resumed and bring stronger retracement of recent decline to 1.3789 and later towards resistance at 1.3840/51. Full Report Here... | | Featured Technical Report | Market Highlights | GBP/JPY Daily Outlook Daily Pivots: (S1) 134.57; (P) 135.81; (R1) 137.88; More GBP/JPY's break of 135.18 minor support suggests that recovery from 132.13 might have completed at 137.33 already. Intraday bias is flipped back to the downside for retesting 132.13 low first. Break will confirm fall resumption to 61.8% projection of 143.59 to 132.13 from 137.33 at 130.24 next. On the upside, above 137.33 will delay the bearish case and bring more recovery. But upside should be limited by 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13 at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21) and bring fall resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPJPY | 134.79 | 136.03 | -124 | -0.92% | | NZDJPY | 62.81 | 63.27 | -46 | -0.73% | | EURJPY | 122.33 | 123.11 | -78 | -0.64% | | CHFJPY | 83.60 | 84.13 | -53 | -0.63% | | GBPAUD | 1.6480 | 1.6567 | -87 | -0.53% | Last Updated: Mar 09, 07:10 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Mar 09, 07:10 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 0:01 | GBP | BRC Retail Sales Monitor Y/Y Feb | 2.20% | -- | -0.70% | | | 0:01 | GBP | RICS House Price Balance Feb | 17% | 34% | 32% | 31% | | 0:30 | AUD | NAB Business Confidence Feb | 19 | -- | 15 | | | 5:00 | JPY | Leading Index Jan P | 97.1 | 96.9 | 94 | 94.7 | | 6:00 | JPY | Machine Tool Orders Y/Y Feb P | | -- | 189.40% | | | 8:15 | CHF | CPI M/M Feb | | 0.20% | -0.10% | | | 8:15 | CHF | CPI Y/Y Feb | | 1.00% | 1.00% | | | 9:30 | GBP | Visible Trade Balance (GBP) Jan | | -6.9B | -7.3B | | | | 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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