| Action Insight Mid-Day Report | Loonie Surges on Inflation and Retail Sales Data, Euro Extends Weakness Canadian dollar surges sharply today, boosted by stronger than expected inflation as well as retail sales. Headline CPI moderated from 1.9% yoy to 1.6% yoy in February, above expectation of 1.4% yoy. More importantly core CPI surprised the markets by accelerating from 2.0% to 2.1%. While BoC reiterated the conditional commitment to keep rates unchanged at 0.5% till of Q2, the data triggered speculation that BoE would be forced to normalize rates sooner than expected. The Loonie is additionally boosted by stronger than expected retail sales which rose 1.8% mom in January with ex-auto sales up 0.7%. Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Buy At 121.50 As the single currency has remained under pressure, suggesting this week's fall from 125.36 may bring stronger retracement of early rise from 119.66 and weakness to 121.84 (61.8% Fibonacci retracement) cannot be ruled out, however, minor support at 121.45/50 should attract renewed buying interest and bring rebound later. Above 123.70/80 would suggest low is possibly formed and bring stronger rebound to 124.25/30, break there would confirm and signal correction from 125.36 has ended and bring retest of this resistance, above would revive our bullish count for further gain to 126.00. Full Report Here... Trade Idea: AUD/USD - Buy At 0.9100 As aussie retreated after faltering below this week's high of 0.9253, suggesting further consolidation would take place and retracement to 0.9050/60 is likely, however, renewed buying interest should emerge above this week's low at 0.9096 and bring another rally in wave iii from 0.8578 to 0.9294 (100% projection of wave i) but loss of near term momentum would limit upside and reckon resistance at 0.9331 would hold. Full Report Here... | | Featured Technical Report | Market Highlights | USD/CAD Mid-Day Outlook Daily Pivots: (S1) 1.0104; (P) 1.0123; (R1) 1.0158; More. USD/CAD's fall resumed after recover was limited at 1.0187 and dropped sharply to as low as 1.0062 so far in early US session. Current decline is still expected to target 161.8% projection of 1.0779 to 1.0369 from 1.0679 at 1.0016 next, which is close to parity. On the upside, though, break of 1.0187 resistance will suggest that a short term bottom is formed with bullish convergence condition in 4 hours MACD. In such case, stronger rebound should be seen towards 1.0369 support turned resistance. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPCAD | 1.5252 | 1.5457 | -205 | -1.34% | | EURCAD | 1.3645 | 1.3797 | -152 | -1.11% | | CADJPY | 90.01 | 89.11 | +90 | +1.00% | | AUDCAD | 0.9265 | 0.9334 | -69 | -0.74% | | USDCAD | 1.0067 | 1.0139 | -72 | -0.72% | Last Updated: Mar 19, 13:00 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Mar 19, 13:00 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 04:30 | JPY | All Industry Activity Index M/M Jan | 3.80% | 1.60% | -0.30% | | | 07:00 | EUR | German PPI M/M Feb | 0.00% | 0.10% | 0.80% | | | 07:00 | EUR | German PPI Y/Y Feb | -2.90% | -2.80% | -3.40% | | | 11:00 | CAD | CPI M/M Feb | 0.40% | 0.30% | 0.30% | | | 11:00 | CAD | CPI Y/Y Feb | 1.60% | 1.40% | 1.90% | | | 11:00 | CAD | BoC CPI Core M/M Feb | 0.70% | 0.30% | 0.10% | | | 11:00 | CAD | BoC CPI Core Y/Y Feb | 2.10% | 1.70% | 2.00% | | | 12:30 | CAD | Retail Sales M/M Jan | 1.80% | 0.50% | 0.40% | | | 12:30 | CAD | Retail Sales Less Autos M/M Jan | 0.70% | 0.60% | 0.40% | | | | 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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