| Having trouble viewing this email? Click here |
 |  |
| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
| Calendar | Elliott Wave Trades | Markets Volatility | Pivot Points | Heat Map | Daily Fundamentals |
| Action Insight Weekly Report | Markets Snapshot |
Mid-Day Report: Sentiments Recovered as US Jobless Claims Dropped to 4 Years LowMarkets sentiments recovered in early US session as initial jobless claims unexpectedly dropped to 4 years low of 348k in the week ended February 11, lower than expectation of 364k. Continuing claims dropped another 100k in the week ended February 4 to 3.43m, lowest since August 2008. Housing starts improved to 699k in January even though building permits was relatively steady at 676k Headline PPI moderated sharply from 4.8% yoy to 4.1% yoy in January while core PPI was unexpectedly unchanged at 3.0% yoy. Some strength is seen in commodity currencies while yen extends its selloff. However, Euro remains broadly pressured on Greece uncertainties as well as concerns on bank rating downgrades even though bond auctions in France and Spain were relatively solid. |
|
| Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 78.18; (P) 78.42; (R1) 78.66; More... USD/JPY's rally resumed after brief consolidations and reaches as high as 78.94 so far in early US session. Intraday bias is back on the upside for further rally. As noted before, the pull back from 79.52 should have finished with three waves down to 76.02 and rebound from 75.56 is likely resuming. Current rise should target 79.52 resistance and then 100% projection of 75.56 to 79.52 from 76.02 at 79.98. On the downside, below 78.18 minor support is needed to signal short term topping. Otherwise, near term outlook will remain bullish even in case of retreat. |
| Special Reports |
FOMC Minutes Unveiled a Few Members Opted for More Asset PurchasesThe FOMC minutes for the January meeting were as dovish as the policy statement suggested. Yet, the change in wordings suggested that there were fewer members demanding further easing. Policymakers noted that “strains in global financial markets continued to pose significant downside risks to the economic outlook” and “a few members” observed that elevated unemployment and subdued inflation pressure could “warrant the initiation of additional securities purchases before long”. In December, it’s stated that “a number of members” judged additional purchases are warranted. In our opinion, QE3 remains possible for 2H12 despite recent improvements in economic indicators. China Hesitate to Act although It Reiterates to Support EurozoneAs the sovereign debt crisis in the Eurozone continues to deteriorate, EU financial ministers have been traveling abroad to seek assistance besides pulling funds among member nations. After German Chancellor's visit to Beijing earlier this month, Mr. Herman Van Rompuy, President of the European Council, and Mr. Jose Manuel Barroso, President of the European Commission, discuss with Chinese Premier Wen Jiabao at a China-EU summit on possible Chinese investment in the EU bailout fund. China's response sounded once positive with Premier Wen stated that it's in China's interest to see the Eurozone "maintain stability and prosperity" and "China is firm in supporting the EU side in dealing with the debt problems. We match our words with actions". His comments were echoed by PBOC's governor Zhou Xiaochuan who stated that "our state leaders promised European leaders that, amid the global financial crisis and the Europe sovereign debt crisis, China will not cut the proportion of euro exposure" and China "has always been confident in the euro and its future". Despite the reiterations, China has so far failed to commit an amount or a time of the investment. What are hindering China's 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! | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Suggested Readings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fundamental Highlights
Technical Highlights
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
| ||||||||
No comments:
Post a Comment