Thursday, February 9, 2012

Action Insight Mid-Day Report 2-9-12 (trusted: contact@actionforex.com)

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Mid-Day Report: Euro Mildly Firmer as Greek Austerity Deal Reached, ECB on Hold, BoE Added QE

Euro is mildly firmer in early US session on report that Greek politicians have finally agreed on the austerity deal. The majority Socialist said that Prime Minister Papademos reached a tentative agreement with three coalition party leaders after a marathon meeting but no detail is released yet. This is confirmed by ECB President Draghi in the post meeting press conference. Focus will now turn to Brussels, where Eurozone finance ministers will meet Greek finance minister Venizelos, together with IMF head Lagarde and Draghi.

Full Report Here...


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Featured Technical Report

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3224; (P) 1.3256 (R1) 1.3291; More...

Intraday bias in EUR/USD remains on the upside with 1.3214 minor support intact. Current rise from 1.2625 is expected to continue towards 61.8% retracement of 1.4246 to 1.2625 at 1.3627. On the downside, below 1.3214 minor support will turn bias neutral and bring consolidation. But break of 1.3028 support is needed to signal completion of such rebound. Otherwise, near term outlook will remain mildly bullish even in case of retreat.

Read more...
Economic Indicators Update

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GMT Ccy Events Actual Consensus Previous Revised
21:45 NZD Unemployment Rate Q4 6.30% 6.50% 6.60%
21:45 NZD Employment Change Q/Q Q4 0.10% 0.40% 0.20%
23:50 JPY Japan Money Stock M2+CD Y/Y Jan 3.00% 3.10% 3.10% 3.20%
01:30 CNY PPI Y/Y Jan 0.70% 0.70% 1.70%
01:30 CNY CPI Y/Y Jan 4.50% 4.00% 4.10%
05:00 JPY Household Confidence Jan 40 38.5 38.9
06:45 CHF SECO Consumer Confidence Jan -19 -22 -24
09:30 GBP Industrial Production M/M Dec 0.50% 0.20% -0.70%
09:30 GBP Industrial Production Y/Y Dec -3.30% -3.10% -3.10% -3.60%
09:30 GBP Manufacturing Production M/M Dec 1.00% 0.20% -0.20%
09:30 GBP Manufacturing Production Y/Y Dec 0.80% 0.30% -0.60% -1.00%
09:30 GBP Visible Trade Balance (GBP) Dec -7.1B -8.4B -8.6B
12:00 GBP BoE Rate Decision 0.50% 0.50% 0.50%
12:00 GBP BOE Asset Purchase Target Feb 325B 325B 275B
12:45 EUR ECB Rate Decision 1.00% 1.00% 1.00%
13:30 EUR ECB Press Conference
13:30 CAD New Housing Price Index M/M Dec 0.10% 0.50% 0.30%
13:30 USD Initial Jobless Claims 358K 370K 367K
15:00 USD Wholesale Inventories Dec 0.50% 0.10%
15:00 GBP NIESR GDP Estimate Jan 0.10%
15:30 USD Natural Gas Storage -82B -132
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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