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Mid-Day Report: Dollar Soars Against Europeans after 200k Payroll GainDollar jumps sharply in early US session after release of better than expected employment data. The non-farm payroll report showed 200k expansion in the job market in December, beating expectation of 150k. Prior month's data, though revised down, still stood at 100k level. October's number was revised up to 112k. The total number for Q4 was 412k, below Q3's 441k but wasn't too away. Total number for 2011 was at 1.6m, much better than 2010's 940k. Unemployment rate unexpected dropped further to 8.6%, the lowest number since February 2009. After all, the numbers were positive and gave risk appetite a boost. |
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| Featured Technical Report | |
USD/CHF Mid-Day OutlookDaily Pivots: (S1) 0.9442; (P) 0.9490; (R1) 0.9570; More... USD/CHF's break of 0.9547 confirms resumption of whole rise form 0.7065. Intraday bias is back on the upside and further rally should now be seen towards 0.9916 key resistance. While such rally is anticipated, we'd be cautious on loss of momentum and reversal signal as 0.9916 is an important cluster level. On the downside, below 0.9505 minor support will turn bias neutral and bring retreat. But downside should be contained above 0.9304 support and bring rally resumption. |
| Special Report |
2012 Forecast: USD to Strengthen Further in First Half of 2012The US dollar is expected to outperform other major currencies in the first half of 2012. The key reasons for the greenback's glitter are the ongoing sovereign debt crisis in the Eurozone and the relatively strong economic improvement in the US. It is, however, rather difficult to forecast the outlook of the US dollar in the second half of the year as uncertainties related to the pace of recovery in European economies, fiscal tightening in the US and the FED's implementation of QE3 heighten. Moreover, the ability for China to avoid hard landing would be another factor affect USD's outlook. |
| Economic Indicators Update | Don’t miss the largest investor and trader gathering in the World—The World MoneyShow Orlando, February 9-12, 2012 at the Gaylord Palms Resort. Be there as recommendations and advice are revealed for how to best position your portfolio for profit—in 2012 and beyond. Register Free Today! | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| 2012 Elliott Wave Forecast | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency dropped again shortly after the release of better-than-expected U.S. job data (200K NFP vs forecast of 150K and 8.5% unemployment rate vs forecast of 8.7%) and stops below option barrier at 1.2750 were triggered and more stops are tipped at 1.2725 and 1.2700 (where more barriers are located) but some bids from Asian sovereign names are reported further out at 1.2650. On the upside, offers from various parties are lined up from 1.2770 up to 1.2800 with stops building up above 1.2815-20. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea Update: EUR/USD – Sell at 1.2950Despite intra-day marginal fall to 1.2763, lack of follow through selling on break of yesterday’s low of 1.2776 and the subsequent rebound suggest a minor low is formed and consolidation with mild upside bias is seen for retracement to 1.2858 (previous support), then towards 1.2900, however, the Ichimoku cloud bottom (now at 1.2914) should limit upside and upper Kumo (now at 1.2954) would attract renewed selling interest, bring another decline later. Trade Idea: AUD/USD – Buy at 1.0175Despite this week’s rise to 1.0387, as aussie has continued to move lower from there, suggesting further consolidation below this level would take place and near term downside risk remains for retracement of recent rise to 1.0200 and possibly to 1.0170-75, however, renewed buying interest should emerge around there and bring another rise later. Above said resistance at 1.0387 would extend the move from 0.9667 for gain towards 1.0450/55 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2012 Outlook
Fundamental Highlights
Technical Highlights
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