 |  |
| 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: Yen Retreats as Markets Stabilized, Sterling Firm ahead of GDPThe financial markets stabilized somewhat after steep selloff. DOW once dropped to as low as 15783.55 overnight but closed the session down -41.23 pts only at 15837.88. S&P 500 also just lost -8.73 pts to close at 1781.56. That was followed by broad based recovery in Asian markets. Treasury yields also recovered with 10 year yield up 0.031% at 2.766% while 30 year yield was up 0.029% at 3.680%. Dollar index continued to struggle in tight range around 80.50. In the currency markets, yen continues its retreat against other major currencies as risk aversion receded mildly. Meanwhile, Aussie and Kiwi also pared back some of last week's losses. |
 |
| Featured Technical Report | |
GBP/JPY Daily OutlookDaily Pivots: (S1) 168.34; (P) 169.43; (R1) 171.14; More..... GBP/JPY recovers after hitting 167.67 and break of 170.00 minor resistance turns intraday bias neutral first. Some sideway trading might be seen. But near term outlook stays mildly bearish as long as 173.65 resistance holds. The correction from 174.84 could extend lower and below 167.76 will target 166.57 support and below. |
| FX Outlook 2014 |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GBP To Outperform Euro, Underperform USDStrong economic growth in the UK should support GBP against other key European currencies, resulting in our forecasts that the pound would strengthen against both the euro and the defensive Swiss franc. UK's job market has improved significantly and the BOE would likely revised lower its threshold of unemployment rate that might lead the consideration of a rate hike. Yet, the revision should only have short-term, if any, negative impacts, on sterling. With domestic demand the key driver of recent growth, the economic environment in the country should allow greater tolerance of currency strength. We remain cautious in GBPUSD, anticipating the pair to fall this year amid expectations that US' growth would be stronger. Moreover, the Fed's kickoff of QE tapering vs BOE's sidelined stance could widen the yield differential. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Special Reports | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Emergent Market Selloff Triggered by Mix of Domestic and Global FactorsSelloff in emerging markets late last week has hit global financial markets. As investors took profits from risky assets, they parked their capitals in safe-havens, sending Japanese yen, Swiss franc and gold, higher. While some attributed the selloff to Fed's tapering and concerns over China's slowdown and potential credit crunch, declines in some emerging market currencies such as Turkish lira and Argentina peso were mainly driven by domestic factors. Yet, coincidence of these factors with concerns over the Fed's tapering and China's disappointing data release might have triggered a bigger impact on the market than on any other occasions. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Economic Indicators Update | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency slipped again on dollar's broad-based rebounded after last week's selloff, bids at 1.3660-70 were filled but buy orders are still noted at 1.3650, more bids are tipped at 1.3620-30, 1.3600 and in good size at 1.3580, fresh demand should emerge around 1.3530-40 as well as 1.3500-10 (stops below). On the upside, offers are lowered to 1.3685-90 and also at 1.3715-20, more sell orders in good size are tipped from 1.3730 up to 1.3750 with stops building up above barrier at 1.3750, fresh selling interest should emerge around 1.3775-80 and further out ahead of next barrier at 1.3800. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: USD/CAD - Buy at 1.0955As the greenback has retreated after rising to 1.1174 late last week, suggesting consolidation below this level would be seen and pullback to 1.1000 cannot be ruled out, however, reckon 1.0950-55 would limit downside and bring another rise later, above 1.1130-40 would signal pullback from 1.1174 has ended and bring retest of this level, break there would signal recent upmove has resumed in wave v for further gain to 1.1200 Trade Idea: EUR/GBP - Target met and stand asideThe single currency staged the anticipated rebound late last week, our long position entered at 0.8200 met indicated target at 0.8300 with 100 points profit, however, as price has retreated after meeting resistance at 0.8306, suggesting consolidation would be seen but reckon downside would be limited to 0.8210 support (Friday's low) and price should stay well above last week's low of 0.8168, bring another leg of corrective rebound 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