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Mid-Day Report: Dollar Back Under Pressure after Weak DataDollar weakens in early US session after release of generally weak economic data. Retail sales dropped -0.3% in September versus expectation of -0.1%. Ex-auto sales dropped -0.2% versus expectation of 0.2% growth. Empire state manufacturing index dropped sharply to 6.17 in October versus expectation of 20.0. PPI slowed to 1.6%yoy in September versus expectation of 1.8% yoy. Core PPI dropped to 1.6% yoy versus expectation of 1.7% yoy. The greenback has been under some pressure over the week on concern the global slowdown could delay Fed's first rate hike. Markets are pricing in less than 50% for Fed's first rate hike by September 2015, down from nearly 75% at the beginning of the month. |
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| Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 106.70; (P) 107.00; (R1) 107.34; More... USD/JPY drops further to as low as 106.20 today so far, breaking 38.2% retracement of 101.08 to 110.08 at 106.64. The development suggests that deeper pull back is underway and intraday bias remains on the downside for 61.8% retracement at 104.51. On the upside, above 107.49 minor resistance will turn bias neutral first. But we'd expect more corrective trading below 110.08 in near term. |
| 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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