| Action Insight Mid-Day Report | Yen Reversed as 3-Month Libor Drops Below Dollar Yen failed to ride on earlier strength and weakens sharply in early US session as three month Lib or dropped below dollar for the first time since August. LIBOR for three month yen loans dropped to 0.251% comparing 0.252% for dollar loans. The greenback can now declare that it's not the most attractively priced currency for carry trades any more. On the other hand, Euro is slightly softer as ECB president Trichet said that will continue to provide euro-zone banks with as much liquidity as they need through its main refinancing operations. Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Buy At 119.10 Just as suggested in our previous update that price remained confined within near term range of 119.66-121.90 and as long as said upper range holds, recent decline may extend marginally in wave v and break of said support would extend weakness to 119.10 (approx. 50% projection of 125.24-119.66 measuring from 121.90) but reckon 118.45 (61.8% projection) should hold, bring rebound later. Full Report Here... Trade Idea: AUD/USD - Buy At 0.8920 Despite yesterday's brief breach of indicated resistance at 0.9072, lack of upside follow through and the retreat from 0.9086 suggest consolidation would take place , however, downside should be limited to 0.8905/10 (61.8% Fibonacci retracement of 0.8800 to 0.9086) and bring another upmove in wave iii. Break of said resistance would extend gain towards 0.9175 (previous support turned resistance) later today or tomorrow. Full Report Here... | | Featured Technical Report | Market Highlights | USD/JPY Mid-Day Outlook Daily Pivots: (S1) 88.19; (P) 88.59; (R1) 88.86; More. USD/JPY's strong recovery and break of 88.63 minor resistance suggests that an intraday low is in place at 88.13 and turns bias neutral. Nevertheless, note that as long as 89.51 resistance holds, fall from 92.14 is still expected to continue. Below 88.13 will target 87.36 support next. Break there will confirm that whole rebound form 84.81 is finished at 93.74. Also, in such case, the larger down trend is likely resuming for a new low below 84.81. However, note that strong break of 89.51 resistance will suggest that a short term bottom is at least formed and stronger rebound should then be seen to near term falling trend lines resistance (now at 91.69). Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
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(%) | | CADJPY | 86.50 | 85.70 | +80 | +0.92% | | GBPJPY | 134.68 | 133.54 | +114 | +0.85% | | USDJPY | 89.08 | 88.46 | +62 | +0.70% | | EURCAD | 1.4055 | 1.4131 | -76 | -0.54% | | AUDCAD | 0.9298 | 0.9345 | -47 | -0.51% | Last Updated: Mar 04, 14:45 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Mar 04, 14:45 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:50 | JPY | Capital Spending Q4 | -17.30% | -18.10% | -24.80% | | | 0:30 | AUD | Trade Balance (AUD) Jan | -1.18B | -1.57B | -2.25B | -2.17B | | 10:00 | EUR | Eurozone GDP Q/Q Q4 P | | 0.10% | 0.10% | | | 10:00 | EUR | Eurozone GDP Y/Y Q4 P | | -2.10% | -2.10% | | | 12:00 | GBP | BoE Interest Rate Decision | | 0.50% | 0.50% | | | 12:00 | GBP | BoE Asset Purchase Target (GBP) | | 200B | 200B | | | 12:45 | EUR | ECB Interest Rate Decision | | 1.00% | 1.00% | | | 13:30 | EUR | ECB Press Conference | | -- | -- | | | 13:30 | CAD | Building Permits M/M Jan | | 1.20% | 2.40% | | | 13:30 | USD | Non-Farm Productivity Q4 F | | 6.20% | 6.20% | | | 13:30 | USD | Unit Labor Costs Q4 F | | -4.40% | -4.40% | | | 13:30 | USD | Initial Jobless Claims | | 475K | 496K | | | 15:00 | CAD | Ivey PMI Feb | | 56 | 50.8 | | | 15:00 | USD | Pending Home Sales M/M Jan | | 1.50% | 1.00% | | | 15:00 | USD | Factory Orders Jan | | 1.20% | 1.00% | | | | 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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