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Mid-Day Report: Dollar Steady after Jobless Claims, Yen WeakDollar remains steady against most major currencies in early US session in spite of better than expected job data. European majors are stuck in range too. However, sterling seems to be gathering some momentum in quite markets. The Japanese yen continues to be pressured as BoJ minutes showed concern from two policy makers on growth, as well as expectation of BoJ actions next year. Initial jobless claims in US dropped by 42k to 338k in the week ended December. That's slightly better than expectation of 345k. Continuing claims rose by 46k to 2.92m in the week ended December 14, hitting the highest level since August. |
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| Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 104.12; (P) 104.26; (R1) 104.42; More... The break of 104.63 suggests that recent rally in USD/JPY has resumed. Intraday bias is back on the upside and current rally would target 38.2% projection of 77.13 to 103.73 from 96.56 at 106.72 next. On the downside, in case of retreat, break of 102.49 support is still needed to indicate short term topping. Otherwise, outlook will stay bullish and further rally is expected. |
| Economic Indicators Update |
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Remark: Due to X'mas and New Year holidays, next Candlestick and Ichimoku Trade Idea update will be made on 2nd Jan 2014 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||
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Fundamental Highlights
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