| 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 Market Overview | Markets Snapshot |
Daily Report: China Trade Data Sent Stocks And Aussie LowerEuropean majors were generally soft against dollar and yen today as consolidations continued. But it was Aussie's weakness that caught most attention. Data from China saw exports rose a mere 1%yoy in July, sharply lower than June's 11.3% yoy and missed market expectation of 5% yoy. Import growth also slowed to 4.7% yoy, down from June's 6.3% yoy. On a monthly basis, and seasonally adjusted, both export and import were down by -4.2% mom and -5.8% mom respectively. Overall trade surplus narrowed to $25.1b, down from prior month's $31.7b, versus consensus of $35b. The data raised much concern that China's economy is still suffering from weak external demand and would find it hard to get enough momentum for a rebound in Q3. The data sent Asians equities and Aussie lower. |
|
| Featured Technical Report | |
AUD/USD Daily OutlookDaily Pivots: (S1) 1.0552; (P) 1.0582; (R1) 1.0612; More... AUD/USD's decline and break of 1.0530 minor support today suggests that a short term top is formed at 1.0612, ahead of the upper trend line resistance. Intraday bias is back on the downside for 1.0435 support next. As noted before, we'd expect strong resistance from the upper trend line to complete the rally from 0.9588. Below 1.0435 will further affirm the case of reversal and target 1.0176 support for confirmation. In any case, we don't turn bullish before breaking the upper trend line. Though, sustain trading above the upper trend line will pave the way to retest 1.1079 high instead. |
| Special Reports |
BOJ Keeps Its Powder DryAs expected by the majority of analysts, the BOJ ended its August meeting with no change in the monetary policy, i.e. keeping the uncollateralized overnight call rate at 0-0.1%, the asset-purchase fund at 45 trillion yen and the lending facility at 25 trillion yen. As both the Fed and the ECB refrained from delivering more easing measures in August, it has become less urgent for the BOJ to act this month. Yet, it does not mean that the central bank would stand on the sideline for the rest of the year. We believe the next trigger for the BOJ to act would be after the Fed's QE3 announcement, a move expected to send the Japanese yen further higher. BOE Reduced UK's Growth Outlook, Blaming Eurozone Crisis For Delaying RecoveryThe BOE inflation report for August revealed the gloomy economic outlook anticipated by policymakers. The GDP growth forecasts were revised lower while inflation is expected to fall below +2.0% from mid-2013 to 2015. The 'unusually uncertain' economic outlook is mainly due to the sovereign debt crisis in the Eurozone and whether officials would implement sufficient measures to resolve the crisis. |
| Economic Indicators Update | Learn Expert Strategies to Profit in a Presidential Election Year. Join me at this year's MoneyShow San Francisco, August 24-26, at the San Francisco Marriott Marquis and be there as recommendations and advice are revealed for how to best position your portfolio for profit - in 2012 and beyond! | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
European Session: Orders and Options WatchEUR: Although the single currency recovered after falling to 1.2266 yesterday, offers are still noted at 1.2305-10 and also at 1.2325-30 with some stops placed above latter level but fresh sell orders should emerge further out at 1.2350 and 1.2380-90 with more stops building up above 1.2400-10. On the downside, whilst bids at 1.2280 were absorbed and stops at 1.2270 were tripped, more buying interests from Asian and Middle East names are tipped from 1.2260 down to 1.2240, followed by mixture of bids and stops at 1.2230 and bigger stops are placed below 1.2220 and 1.2200. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: USD/CHF – Sell at 0.9820Although yesterday’s rise to 0.9790 suggests near term upside risk remains for the rebound from last week’s low of 0.9656 to extend gain towards 0.9810-20, however, as this move is still viewed as a strong retracement of the fall from 0.9898, upside should be limited to resistance at 0.9830, bring retreat later. Below 0.9744-45 (previous resistance and current level of the Kijun–Sen) would bring test of the Ichimoku cloud top (now at 0.9712) but break of 0.9699-01(yesterday’s low and current level of the lower Kumo) is needed to signal top is formed Trade Idea: EUR/USD – Buy at 1.2255Yesterday’s selloff to 1.2266 suggests near term downside risk remains for the decline from 1.2444 to bring a stronger retracement of recent rise, however, renewed buying interests should emerge around 1.2252 (61.8% Fibonacci retracement of 1.2134-1.2444) and bring another rally. A break of 1.2326-27 (current level of the Kijun-Sen and previous support) would bring test of resistance at 1.2387, above there (this would also penetrate the upper Kumo at 1.2385) would signal low is formed and bring another test of 1.2443-44 resistance 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