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Daily Report: Yen Lower as Nikkei Boosted by GPIF NewsYen opens the week generally lower following rebound in Asian equities. In particular, Japanese Nikkei is up over 3% and reclaimed 15000 handle as additional boosted by news regarding the Government Pension Investment Fund, or GPIF. It's reported that the $1.2T GPIF will raise the allocation target for local equities from 12% as much as 25%. Meanwhile, holdings of foreign securities would be raised from 23% to 30%. Meanwhile, domestic bond holding would be lowered from 60% to 40%. The new allocation exceeded markets expectations, which expected share holdings to be around 20-22% only. Also from Japan, BoJ governor Haruhiko Kuroda said today that the economy will continue to "recover moderately as a trend" with the effect of the April sales hike likely to "gradually subside". Meanwhile, he expected core inflation to say around 1.25% "for some time". |
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| Featured Technical Report | |
USD/JPY Daily OutlookDaily Pivots: (S1) 106.36; (P) 106.64; (R1) 107.16; More... USD/JPY's rebound from 105.19 extended higher but stays below 107.49 minor resistance. Intraday bias is neutral first. Deeper fall cannot be ruled out yet. But in that case, we'd look for reversal sign below 61.8% retracement of 101.08 to 110.08 at 104.51. Meanwhile above 107.49 will argue that the pull back is completed and will turn bias back to the upside for retesting 110.08. |
| Economic Indicators Update | You're invited to London's most comprehensive educational event for investors and traders of the year; The World MoneyShow London, 7-8 November 2014! Located at the Queen Elizabeth II Conference Centre, you will discover top experts' best money-making and capital preservation strategies! Learn from the industry's top experts' like Mark Mobius, Ralph Acampora, Sandy Jadeja, and dozens more!
US and Canadian equity markets trading near all-time highs amid record-low volatility has many pointing to a sense of "complacency" in the markets, like it's possible that the "easy money" has already been made. That's why 40+ leading investing and trading experts will be speaking LIVE and in-person at The World MoneyShow Toronto, and will reveal their latest and best stock and ETF picks in the process. Register free Come learn powerful trade set-ups and strategies directly from Larry Williams, Tom Sosnoff, Tom DeMark, Dan Gramza, Larry McMillan, Al Brooks and dozens of other world-class traders, analyze the markets, enjoy LIVE trading demonstrations, receive personalized guidance, and acquire necessary tools and techniques at the year's best and final gathering for active traders, The Traders Expo Las Vegas, November 19-22 at Caesars Palace.
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Remark: Due to holidays, next Trade Ideas update will be made on Monday 20 Oct 2014 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||
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