| Action Insight Mid-Day Report | Swiss Franc Firm Despite SNB Rhetoric Dollar Treads Water Dollar staged a strong recovery earlier today but lacked follow through buying to send it through yesterday's high. Consolidations is still in progress and we'd expect some more sideway trading in near term. This is echoed in the commodity markets where we see crude oil struggling below 82 level while gold is soft below 1100. US data released saw existing home sales at 5.02M annualized rate in February, slightly above expectation of 5.0M. House price index dropped less than expected by -0.6% mom in January. Canadian leading indicators rose 0.8% mom in February. the data provide little inspiration to the markets. Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Hold Long Entered At 121.50 Although the single currency fell sharply to 121.05 yesterday, as euro then rebounded from there and renewed buying interest emerged again today at 121.75, suggesting consolidation with mild upside bias would be seen for rebound to 123.30/40 but break of 123.75/80 is needed to signal the fall from 125.36 is over, then headway to 124.20/30 would follow. Full Report Here... Trade Idea: AUD/USD - Hold Short Entered At 0.9190 Although aussie rebounded to 0.9195 yesterday, as price has retreated from there, suggesting as long as this level holds, consolidation with downside bias remains for another fall to yesterday's low at 0.9085, however, break there is needed to bring stronger retracement of recent upmove in minor wave 2 of iii towards 0.9027 (38.2% and 50% Fibonacci retracement of wave 1 rise from 0.8800 to 0.9253) but reckon 0.8973 (61.8% Fibonacci retracement) would hold and bring another rally later in wave 3 of iii early next month. Full Report Here... | | Featured Technical Report | Market Highlights | EUR/CHF Mid-Day Outlook Daily Pivots: (S1) 1.4311; (P) 1.4340; (R1) 1.4374; More EUR/CHF's recovery was limited at 1.4370 and is now back pressing 1.4315 key support. While downside momentum is diminishing a bit, further decline is still expected as long as 1.4383 minor resistance holds. Sustained trading below 1.4315 will pave the way to to 1.4 psychological level next. On the upside, break of 1.4383 will indicate that a short term bottom is in place and stronger recovery could the be seen to 4 hours 55 EMA (now at 1.4463) before resuming the down trend. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPUSD | 1.5011 | 1.5098 | -87 | -0.58% | | GBPCAD | 1.5304 | 1.5381 | -77 | -0.50% | | GBPCHF | 1.5910 | 1.5974 | -64 | -0.40% | | EURUSD | 1.3505 | 1.3557 | -52 | -0.39% | | GBPAUD | 1.6380 | 1.6439 | -59 | -0.36% | Last Updated: Mar 23, 13:45 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Mar 23, 13:45 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:50 | JPY | BoJ Meeting Minutes | | -- | -- | | | 07:30 | CHF | SNB Chairman Hildebrand Speaks | | -- | -- | | | 09:30 | GBP | CPI M/M Feb | 0.40% | 0.50% | -0.20% | | | 09:30 | GBP | CPI Y/Y Feb | 3.00% | 3.10% | 3.50% | | | 09:30 | GBP | Core CPI Y/Y Feb | 2.90% | 3.00% | 3.10% | | | 09:30 | GBP | RPI M/M Feb | 0.60% | 0.70% | 0.00% | | | 09:30 | GBP | RPI Y/Y Feb | 3.70% | 3.70% | 3.70% | | | 10:00 | USD | Fed's Charles Plosser Speaks | | -- | -- | | | 11:00 | GBP | U.K. CBI Distributive Trades Survey Mar | 13 | 18 | 23 | | | 12:30 | CAD | Leading Indicators M/M Feb | 0.80% | 0.70% | 0.90% | | | 14:00 | USD | Existing Home Sales Feb | 5.02M | 5.00M | 5.05M | | | 14:00 | USD | House Price Index M/M Jan | -0.60% | -0.80% | -1.60% | | | 19:35 | USD | Fed's Janet Yellen Speaks | | -- | -- | | | | 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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