Monday, February 13, 2012

Action Insight Daily Report 2-14-12 (trusted: contact@actionforex.com)

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Action Insight Weekly Report Markets Snapshot

Daily Report: Yen Sold off as BoJ Expands QE, European Lower after Moody's Downgrade

The Japanese yen is sharply lower after BoJ unexpectedly expanded it's quantitative easing program today. BoJ left rates unchanged at 0-0.1% as widely expected. But, the bank unexpectedly expanded the quantitative easing problem from JPY 55T to JPY 65T. Under the program, the bank will buy government and private debt and lends funds against various types of collateral. And, the additional fund of JPY 10T would be used for purchases of long-term government bonds. In addition, BoJ will set consumer inflation target of 1%. USD/JPY jumps sharply and is back pressing 78 level after the release.

Full Report Here...


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Featured Technical Report

USD/JPY Daily Outlook

Daily Pivots: (S1) 77.37; (P) 77.58; (R1) 77.76; More....

USD/JPY's rise from 76.02 resume today and reaches as high as 77.95 so far. Intraday bias is back on the upside for 78.28 resistance. As noted before, the strength of the rise from 76.02 is starting to argue that choppy fall from 79.52 is finished at 76.02. Break of 78.28 resistance will signal that whole rebound from 75.56 is resuming for another high above 79.52. On the downside, though, below 77.36 minor support will mix up the near term outlook and turn bias neutral first.

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Economic Indicators Update

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GMT Ccy Events Actual Consensus Previous Revised
0:01 GBP RICS House Price Balance Jan -16 -18% -16%
0:30 AUD NAB Business Confidence Jan 4 3
3:43 JPY BoJ Rate Decision 0.10% 0.10% 0.10%
4:30 JPY Industrial Production M/M Dec F 4.00% 4.00%
9:30 GBP DCLG UK House Prices Y/Y Dec -0.10% -0.30%
9:30 GBP CPI M/M Jan -0.50% 0.40%
9:30 GBP CPI Y/Y Jan 3.60% 4.20%
9:30 GBP Core CPI Y/Y Jan 2.60% 3.00%
9:30 GBP RPI M/M Jan -0.40% 0.40%
9:30 GBP RPI Y/Y Jan 4.10% 4.80%
10:00 EUR Eurozone Industrial Production M/M Dec -1.40% -0.10%
10:00 EUR German ZEW (Economic Sentiment) Feb -15 -21.6
10:00 EUR German ZEW (Current Situation) Feb 31 28.4
10:00 EUR Eurozone ZEW (Economic Sentiment) Feb -21.1 -32.5
13:30 USD Import Price Index M/M Jan 0.20% -0.10%
13:30 USD Advance Retail Sales Jan 0.70% 0.10%
13:30 USD Retail Sales Less Autos Jan 0.50% -0.20%
15:00 USD Business Inventories Dec 0.40% 0.30%
Forex Trade Ideas

Trade Idea update will resume on Tuesday - 21 Feb 2012.

Candlesticks Intraday Trade Ideas Update Schedule (GMT):
1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530
Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF

Elliott Wave Daily Trade Ideas Update Schedule (GMT):
AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500

Suggested Readings

Fundamental Highlights

Technical Highlights

 


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