Wednesday, October 15, 2014

Action Insight Daily Report 10-16-14

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Action Insight Market Overview Markets Snapshot

Daily Report: Sentiments Calmed by Yellen But Stay Weak

Yen surged sharply against dollar overnight as stocks and yields plunged. Sentiments stabilized a bit after Fed chair Janet Yellen's comments and the Beige Book report. And, yen pared back some gains after stocks recovered. S&P 500 dived to as low as 1820.66 before closing at 1862.49, down -15.21 pts or -0.81%. DJIA breached 16000 handle and reached an intraday low of 15855.12 before closing at 16141.74, down -173.45 pts or -1.06%. 10 year yield dipped below 2% level to as low as 1.868% before closing at 2.090%. That's the lowest intraday level since May 2013.

Full Report Here...


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Featured Technical Report

GBP/JPY Daily Outlook

Daily Pivots: (S1) 168.05; (P) 169.59; (R1) 171.18; More.....

GBP/JPY dropped further to as low as 168.01 so far and took out 169.34 key support level. The development suggests medium term topping at 180.70. Intraday bias remains on the downside and current fall from 180.70 should extend to 163.87 support next. On the upside, above 171.14 minor resistance will turn bias neutral and bring consolidations first before staging another decline.

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Economic Indicators Update

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GMT Ccy Events Actual Consensus Previous Revised
21:30 NZD Business NZ Manufacturing Index Sep 58.1 56.5 57
0:00 AUD Consumer Inflation Expectation Oct 3.40% 3.50%
5:45 CHF SECO Economic Forecasts
9:00 EUR Eurozone Trade Balance (EUR) Aug 13.3B 12.2B
9:00 EUR Eurozone CPI M/M Sep F 0.40% 0.10%
9:00 EUR Eurozone CPI Y/Y Sep F 0.30%
9:00 EUR Eurozone CPI - Core Y/Y Sep F 0.70% 0.70%
12:30 CAD International Securities Transactions (CAD) Aug 4.31B 5.30B
12:30 USD Initial Jobless Claims (OCT 11) 285K 287K
12:30 CAD Manufacturing Shipments M/M Aug -1.80% 2.50%
13:15 USD Industrial Production Sep 0.40% -0.10%
13:15 USD Capacity Utilization Sep 79.00% 78.80%
14:00 USD Philly Fed Survey Oct 20 22.5
14:00 USD NAHB Housing Market Index Oct 59 59
14:30 USD Natural Gas Storage
15:00 USD Crude Oil Inventories
20:00 USD Net Long-term TIC Flows Aug -$18.6B
 
Forex Trade Ideas

Remark: Due to holidays, next Trade Ideas update will be made on Monday 20 Oct 2014

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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