| Action Insight Mid-Day Report | Risk Appetite Lifted as EU Delays Vote for New Hedge Fund Rules Risk appetite is given a lift today led by banks, as EU failed to resolve a row over new rules to control hedge funds. The vote was delayed for couple more months in a reprieve for UK, which fears that too-tight regulation could drive the industry from London. Also, Greece concerns eased a bit after EU finance ministers said a blueprint for financial help was laid down. The exact form for assistance is still unknown but it could be some form of bilateral loans. The emergency loan would be provided if Greece's plan for EUR 4.8b cut in deficit fails. Full Report Here... | | Special Reports | Will the Fed Retain the 'Extended Period' Wordings? At the March FOMC meeting, the Fed will leave the policy rate unchanged at 0-0.25%. With economic development being largely consistent with expectations since January's meeting, the central bank will retain the stance to keep interest rates low for an extended period of time. Full Report Here... BOJ to Extend and Expand QE The Bank of Japan will likely extend the duration and expand the size of the new lending facility (launched in December) so as to fight against deflation. This is likely the only change the central bank will announce after the Monetary Policy Meeting on March 16-17. The unsecured overnight call rate targets will stay at 0.1% with unanimous vote while outright purchase of JGB will not be increased. Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Buy At 123.30 Despite intra-day marginal fall to 123.24 (yesterday's low was 123.32), as the single currency staged a strong rebound from there, suggesting the correction from 125.36 has possibly ended and consolidation with upside bias is seen but break of said resistance at 125.36 is needed to confirm wave v has ended at 119.66 earlier and would extend the rise from there to 126.00, then towards 126.95/00. Full Report Here... Trade Idea: AUD/USD - Buy At 0.9035 Although aussie rebounded after yesterday's retreat to 0.9096, as long as resistance at 0.9209 holds, further consolidation would be seen and another corrective fall to said support would be seen, break there would bring correction of recent rise to 0.9053/56 (38.2% Fibonacci retracement of 0.8800 to 0.9209 and last week's low) would be seen, however, renewed buying interest should emerge well above 0.9000 and bring another upmove later. Above said resistance would extend the rise from 0.8567 to 0.9240/50 and then towards 0.9294 (100% projection of wave i) but overbought condition would limit upside to 0.9331. Full Report Here... | | Featured Technical Report | Market Highlights | USD/JPY Mid-Day Outlook Daily Pivots: (S1) 90.30; (P) 90.57; (R1) 90.78; More. USD/JPY rebounds strongly after dipping to 89.97 earlier today but upside is still limited below 91.08 resistance. Intraday bias remains neutral and more sideway consolidation could still be seen. Nevertheless, note that rise from 88.13 is still expected to continue as long as 89.62 cluster support (50% retracement of 88.13 to 91.08 at 89.60) holds. Break of 91.08 will target near term trend line resistance (now at 91.34) and then 92.14 resistance. However, note that decisive break of 89.62 cluster support will indicate that rise from 88.13 is possibly finished and will flip intraday bias back to the downside for retesting this low. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPAUD | 1.6561 | 1.6456 | +105 | +0.63% | | GBPUSD | 1.5130 | 1.5055 | +75 | +0.50% | | GBPJPY | 136.92 | 136.26 | +66 | +0.48% | | EURAUD | 1.5010 | 1.4949 | +61 | +0.41% | | AUDNZD | 1.2983 | 1.3033 | -50 | -0.39% | Last Updated: Mar 16, 12:55 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Mar 16, 12:55 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 00:30 | AUD | RBA Meeting Minutes | | -- | -- | | | 09:30 | GBP | DCLG UK House Prices Y/Y Jan | 6.20% | 3.60% | 2.90% | | | 10:00 | EUR | German ZEW Survey (Economic Sentiment) Mar | 44.5 | 43.5 | 45.1 | | | 10:00 | EUR | German ZEW Survey (Current Situation) Mar | -51.9 | -52 | -54.8 | | | 10:00 | EUR | Eurozone ZEW Survey (Economic Sentiment) Mar | 37.9 | 40.1 | 40.2 | | | 10:00 | EUR | Eurozone CPI M/M Feb | 0.30% | 0.30% | -0.80% | | | 10:00 | EUR | Eurozone CPI Y/Y Feb | 0.90% | 0.90% | 0.90% | | | 12:30 | CAD | Labor Productivity Q/Q Q4 | 1.40% | 0.70% | -0.20% | -0.30% | | 12:30 | CAD | Manufacturing Shipments M/M Jan | 2.40% | 0.70% | 1.60% | | | 12:30 | USD | Import Price Index M/M Feb | -0.30% | -0.20% | 1.40% | | | 12:30 | USD | Housing Starts Feb | 575K | 570K | 591K | | | 12:30 | USD | Building Permits Feb | 612K | 610K | 621K | | | 18:15 | USD | FOMC Interest Rate Decision | | 0.25% | 0.25% | | | | 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! 
| |
No comments:
Post a Comment