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| Action Insight Weekly Report | Markets Snapshot |
Mid-Day Report: Yen Weakness Continues, Euro Supported by Bond Auctions and German ZEWYen's sell remains the major theme today in otherwise rather dull markets. Euro was somewhat weighed down mildly by Moody's downgrade and Greece concerns. However, the common currency is also supported by sold bond auction in Italy and Spain, as well as solid German ZEW investor confidence readings. Dollar is steady after release of mixed retail sales report, which saw headline sales rose less than expected by 0.4% in January and ex-auto sales rose more than expected by 0.7%. |
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| Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 77.37; (P) 77.58; (R1) 77.76; More.... USD/JPY jumps further to as high as 78.18 so far today and intraday bias remains on the upside for 78.28 resistance. Break will confirm that choppy decline from 79.52 is finished with three waves down to 76.02. And in that case, rebound from 75.56 might be resuming for 79.52 and above. On the downside, though, below 77.36 minor support will mix up the near term outlook and turn bias neutral first. |
| Special Reports |
BOJ Surprisingly Adds StimulusThe BOJ surprisingly expanded its asset purchase program by +10 trillion yen today, sending the total fund size to around 65 trillion yen. At the same time, policymakers unanimously voted to keep the uncollateralized overnight call rate at 0.-0.1%. The unexpected move aimed to stimulate the country's economy which contracted an annualized -2.3% in 4Q11. Japanese yen will likely be little affected by the move. |
| 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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Trade Idea update will resume on Tuesday - 21 Feb 2012. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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