daily i-forex-report-1 by epic research 10 april 2013
TRANSCRIPT
DAILY I FOREX REPORT 10
TH
APRIL 2013
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A Surprising Rise in Industrial Production Fuels Hopes for UK Q1 Expansion
EUR/USD Scalps Target March Gap- Bullish Above 1.2890
US Dollar Sold as Fed Chairman Bernanke Talks Down Asset Sales
The US Dollar declined against all of its major counterparts after Federal Reserve Chairman Ben Bernanke said asset sales are expected happen “late” into the monetary policy tightening process. The central bank chief added that the Fed preferred to use the interest rate on excess reserves (IOER) as its principal tool for unwinding stimulus when the time to do so is at hand.
However, that approach has been painted as a less-impactful tightening technique by some skeptics including the Fed’s own Charles Plosser, President of the Philadelphia branch. It appears the markets opted to agree, interpreting Bernanke’s comments to mean that the greenback will find policy support slow to emerge even when the Fed eventually begins to reverse its accommodative posture.
TRADING TIPS
BUY EURUSD ABOVE
1.3070 tgs
1.3090/1.3110sl 1.3040
BUY USDJPY ABOVE
99.50 tgt 99.70/99.90
SL 99.20
BUY GBPUSD ABOVE
1.5325 Tgt
1.5345/1.5365 SL
1.5295
HEADLINES
HOURLY EURUSD CHART
ANALYSIS
OPEN: 1.3029
HIGH: 1.3068
LOW: 1.3005
CLOSE: 1.3042
EURUSD LOOKS UPWARD
TREND : BULLISH
STRATEGY: BUY ON DIPS
MACD =>-.0005(BULLISH SIGNAL)
RSI => 55(BULLISH SIGNAL)
HOURLY EURUSD CHART
HOURLY USDJPY CHART
ANALYSIS
OPEN: 99.33
HIGH: 99.50
LOW: 98.70
CLOSE: 98.91
USDJPY LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS
MACD => -0.07( BULLIISH SIGNAL)
RSI =>48(BULLISH SIGNAL)
HOURLY USDJPY CHART
HOURLY GBPUSD CHART
ANALYSIS
OPEN: 1.5263
HIGH: 1.5325
LOW: 1.5250
CLOSE: 1.5307
GBPUSD LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS
MACD => .002( BULLISH SIGNAL)
RSI => 60(BULLISH SIGNAL)
HOURLY GBPUSD CHART
HOURLY EURGBP CHART
ANALYSIS
OPEN: 0.8536
HIGH: 0.8560
LOW: 0.8507
CLOSE: 0.8520
EURGBP LOOKS DOWNWARDS
TREND: BEARISH
STRATEGY: SELL ON RISE
MACD =>-.003(BEARISH SIGNAL)
RSI =>45(BEARISH SIGNAL)
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HOURLY EURGBP CHART
HOURLY USDINDEX CHART
ANALYSIS
OPEN: 82.7400
HIGH: 82.7430
LOW: 82.4710
CLOSE: 82.5620
USDINDEX LOOKS DOWNWARD
TREND: BEARISH
STRATEGY: SELL ON RISE
MACD =>0.22(BEARISH SIGNAL)
RSI =>39(BEARISH SIGNAL)
Date Time Currency Event Importance Actual Forecast Previous Notes
Sun
Apr 7
EUR German Wholesale Price Index (MoM) (MAR)
Low
0.1%
EUR German Wholesale Price Index (YoY) (MAR)
Low
1.4%
23:01
GBP Lloyds Employment Confidence (MAR)
Low -45
-44
23:30
AUD AiG Performance of Construction Index (MAR)
Medium 39.0
45.6
23:50
JPY Current Account Total (Yen) (FEB)
Low ¥457.5B ¥637.4B -¥364.8B
23:50
JPY Adjusted Current Account Total (Yen) (FEB)
Low -¥0.1B -¥62.0B ¥364.6B
23:50
JPY Trade Balance - BOP Basis (Yen) (FEB)
Medium -¥667.0B -¥660.1B -¥1479.3B
23:50
JPY Current Account Balance (YoY) (FEB)
Low -47% -59.1% -19.9%
Mon
Apr 8
USD International Economic Forum
Low
01:30
AUD ANZ Job Advertisements (MoM) (MAR)
Low -1.5%
3.0%
04:30
JPY Bankruptcies (YoY) (MAR)
Medium -20.0%
-11.8%
05:00
JPY Eco Watchers Survey: Current (MAR)
Medium 57.3
53.2
05:00
JPY Eco Watchers Survey: Outlook (MAR)
Medium 57.5
57.7
06:30
AUD Foreign Reserves (Australian dollar) (MAR)
Low A$48.7B
A$43.7B
07:15
CHF Industrial Production (YoY) (4Q)
Medium 1.7%
2.5%
08:30
EUR Euro-Zone Sentix Investor Confidence (APR)
Medium -17.3 -12.8 -10.6
10:00
EUR German Industrial Production s.a. (MoM) (FEB)
Low 0.5% 0.3% -0.6%%
10:00
EUR German Industrial Production n.s.a. and
Medium -1.8% -0.9% -2.6%
ECONOMIC CALENDER
w.d.a. (YoY) (FEB)
12:30
USD Fed's Pianalto Speaks on the Economy in West Palm Beach, FL
Low
14:30
CAD Bank of Canada Senior Loan Officer Survey (1Q)
Medium
-3.4
14:30
CAD Business Outlook Future Sales (1Q)
Medium
15.00 16.00
23:01
GBP BRC Sales Like-For-Like YoY (MAR)
Low
1.0% 2.7%
23:01
GBP RICS House Price Balance (MAR)
Medium
-5% -6%
23:15
USD Fed's Bernanke Speaks at Atlanta Fed Conference in Georgia
Medium
Tue
Apr 9 00:00
NZD QV House Prices (YoY) (MAR)
Low
6.3%
01:30
AUD NAB Business Conditions (MAR)
Low
-3
01:30
AUD NAB Business Confidence (MAR)
Medium
1
01:30
CNY Consumer Price Index (YoY) (MAR)
High
2.5% 3.2%
01:30
CNY Producer Price Index (YoY) (MAR)
Medium
-1.8% -1.6%
05:45
CHF Unemployment Rate (MAR)
Medium
3.3% 3.4%
05:45
CHF Unemployment Rate s.a. (MAR)
Medium
3.1% 3.1%
06:00
EUR German Trade Balance (euros) (FEB)
Medium
15.0B 13.7B
06:00
EUR German Current Account (euros) (FEB)
Low
14.2B 11.3B
06:00
EUR German Imports s.a. (MoM) (FEB)
Low
-0.1% 3.3%
06:00
EUR German Exports s.a. (MoM) (FEB)
Low
-0.3% 1.3%
06:00
JPY Machine Tool Orders (YoY) (MAR P)
Medium
-21.5%
06:30
EUR Bank of France Business Sentiment (MAR)
Low
95 96
06:45
EUR French Trade Balance (euros) (FEB)
Low
-5445M -5862M
06:45
EUR French Central Government Balance (euros) (FEB)
Low
-12.8B
07:15
CHF Consumer Price Index (MoM) (MAR)
Medium
0.3% 0.3%
07:15
CHF Consumer Price Index (YoY) (MAR)
Medium
-0.5% -0.3%
07:15
CHF CPI - EU Harmonised (MoM) (MAR)
Medium
0.3%
07:15
CHF CPI - EU Harmonised (YoY) (MAR)
Medium
0.1%
07:15
CHF Retail Sales (Real) (YoY) (FEB)
Medium
2.5% 1.9%
08:00
EUR Italian Hourly Wages (MoM) (FEB)
Low
0.1%
08:00
EUR Italian Hourly Wages (YoY) (FEB)
Low
1.7%
08:30
GBP Industrial Production (MoM) (FEB)
Low
0.4% -1.2%
08:30
GBP Industrial Production (YoY) (FEB)
Medium
-2.8% -2.9%
08:30
GBP Manufacturing Production (MoM) (FEB)
Low
0.4% -1.5%
08:30
GBP Manufacturing Production (YoY) (FEB)
Medium
-1.4% -3.0%
08:30
GBP Visible Trade Balance (Pounds) (FEB)
Medium
-£8600 -£8195
08:30
GBP Trade Balance Non EU (Pounds) (FEB)
Low
-£3650 -£3280
08:30
GBP Total Trade Balance (Pounds) (FEB)
Low
-£2800 -£2362
11:30
USD NFIB Small Business Optimism (MAR)
Low
90.5 90.8
12:15
CAD Housing Starts (MAR)
Medium
175.0K 178.0K
12:30
CAD Building Permits (MoM) (FEB)
Low
3.0% 1.7%
13:30
USD Fed's Lacker Speaks in Richmond (FEB)
Low
14:00
USD Wholesale Inventories (FEB)
Low
1.2%
14:00
GBP NIESR Gross Domestic Product Estimate (MAR)
Medium
-0.1%
14:00
USD JOLTs Job Openings (FEB)
Low
3730 3693
14:00
USD Wholesale Sales (MoM) (FEB)
Low
1.5% -0.8%
17:00
USD Fed's Lockhart to Give Welcome at Stone Mountain, Georgia
Low
22:45
NZD NZ Card Spending - Retail (MoM) (MAR)
Medium
0.3% 0.8%
22:45
NZD NZ Card Spending (MoM) (MAR)
Medium
0.8%
23:50
JPY Bank Lending Banks ex-Trust (MAR)
Low
1.9%
23:50
JPY Bank Lending incl Trusts (YoY) (MAR)
Low
1.5%
Wed Apr 10
CNY Trade Balance (USD) (MAR)
Medium
$15.25B
CNY Exports (YoY) (MAR)
Low
21.8%
CNY Imports (YoY) (MAR)
Low
-15.2%
CNY Foreign Exchange Reserves (MAR)
Medium
$3310.0B
CNY New Yuan Loans (MAR)
High
620.0B
CNY Money Supply - M0 (YoY) (MAR)
Low
17.2%
CNY Money Supply - M1 (YoY) (MAR)
Low
9.5%
CNY Money Supply - M2 (YoY) (MAR)
Low
15.2%
CNY Aggregate Financing (MAR)
Medium
1070.0B
00:30
AUD Westpac Consumer Confidence (APR)
Medium
2.0%
00:30
AUD Westpac Consumer Confidence Index (APR)
Low
110.5
06:45
EUR French Industrial Production (MoM) (FEB)
Low
-1.2%
06:45
EUR French Industrial Production (YoY) (FEB)
Low
-3.5%
06:45
EUR French Manufacturing Production (MoM) (FEB)
Medium
-1.4%
06:45
EUR French Manufacturing Production (YoY) (FEB)
Medium
-4.5%
08:00
EUR Italian Industrial Production s.a. (MoM) (FEB)
Low
0.8%
08:00
EUR Italian Industrial Production w.d.a. (YoY) (FEB)
Low
-3.6%
08:00
EUR Italian Industrial Production n.s.a. (YoY) (FEB)
Low
-0.6%
11:00
USD MBA Mortgage Applications (APR 5)
Low
12:20
USD Fed's Lockhart to Speak on Financial Stability at Conference
Low
12:30
USD Fed's Kocherlakota Moderates a Panel in Stone Mountain, GA
Low
14:30
USD DOE U.S. Crude Oil Inventories (APR 5)
Low
14:30
USD DOE Cushing OK Crude Inventory (APR 5)
Low
439K
14:30
USD DOE U.S. Gasoline Inventories (APR 5)
Low
14:30
USD DOE U.S. Distillate Inventory (APR 5)
Low
18:00
USD Monthly Budget Statement (MAR)
Medium
18:00
USD Fed Releases Minutes from Mar 19-20 FOMC Meeting
High
21:00
USD Fed's Fisher Speaks on Economy, Monetary Policy in El Paso TX
Low
22:00
NZD ANZ Truckometer Heavy Traffic (MAR)
Low
0
22:30
NZD Business NZ Performance of Manufacturing Index (MAR)
Medium
56.3
23:50
JPY Japan Money Stock M2+CD (YoY) (MAR)
Low
2.9%
23:50
JPY Japan Money Stock M3 (YoY) (MAR)
Low
2.4%
23:50
JPY Domestic Corporate Goods Price Index (MoM) (MAR)
Low
0.4%
23:50
JPY Domestic Corporate Goods Price Index (YoY) (MAR)
Low
-0.1%
23:50
JPY Japan Buying Foreign Bonds (Yen) (APR 5)
Low
23:50
JPY Japan Buying Foreign Stocks (Yen) (APR 5)
Low
23:50
JPY Foreign Buying Japan Bonds (Yen) (APR 5)
Low
23:50
JPY Foreign Buying Japan Stocks (Yen) (APR 5)
Low
23:50
JPY Machine Orders (MoM) (FEB)
Medium
-13.1%
23:50
JPY Machine Orders (YoY) (FEB)
Medium
-9.7%
Thu Apr 11
01:00
AUD Consumer Inflation Expectation (APR)
Medium
2.3%
01:30
AUD Employment Change (MAR)
High
71.5K
01:30
AUD Unemployment Rate (MAR)
High
5.4%
01:30
AUD Full Time Employment Change (MAR)
Medium
17.8K
01:30
AUD Part Time Employment Change (MAR)
Medium
53.7K
01:30
AUD Participation Rate (MAR)
Low
65.3%
02:00
JPY Tokyo Avg Office Vacancies (%) (MAR)
Low
8.57
06:00
EUR German Consumer Price Index (MoM) (MAR F)
Medium
06:00
EUR German Consumer Price Index (YoY) (MAR F)
High
06:00
EUR German Consumer Price Index - EU Harmonised (MoM) (MAR F)
Medium
06:00
EUR German Consumer Price Index - EU Harmonised (YoY) (MAR F)
High
06:45
EUR French Consumer Price Index - EU Harmonised (MoM) (MAR)
Low
0.3%
06:45
EUR French Consumer Price Index - EU Harmonised (YoY) (MAR)
Low
1.2%
06:45
EUR French Consumer Price Index (MoM) (MAR)
Low
0.3%
06:45
EUR French Consumer Price Index (YoY) (MAR)
Low
1.0%
06:45
EUR French Consumer Price Index Ex Tobacco Index (MAR)
Low
124.72
10:00
USD Fed's Plosser Speaks on Monetary Policy in Hong Kong
Low
12:30
USD Import Price Index (MoM) (MAR)
Low
1.1%
12:30
USD Import Price Index (YoY) (MAR)
Low
-0.3%
12:30
CAD New Housing Price Index (MoM) (FEB)
Low
0.1%
12:30
CAD New Housing Price Index (YoY) (FEB)
Medium
2.2%
12:30
USD Fed's Bullard Gives Welcoming Remarks in Washington
Low
12:30
USD Initial Jobless Claims (APR 6)
Medium
12:30
USD Continuing Claims (MAR 30)
Low
14:30
USD EIA Natural Gas Storage Change (APR 5)
Low
22:45
NZD Food Prices (MoM) (MAR)
Low
-0.3%
23:50
JPY Tertiary Industry Index (MoM) (FEB)
Medium
-1.1%
Fri
Apr 12 01:30
AUD RBA Credit Card Balances (FEB)
Low
$A48.7B
01:30
AUD RBA Credit Card Purchases (FEB)
Low
$A19.8B
03:00
NZD Non Resident Bond Holdings (MAR)
Low
66.7%
06:45
EUR French Current Account (euros) (FEB)
Low
-5.0B
08:00
EUR Italian Consumer Price Index - EU Harmonized (YoY) (MAR F)
Low
08:30
EUR Italian General Government Debt (FEB)
Medium
2022.7B
09:00
EUR Euro-Zone Industrial Production s.a. (MoM) (FEB)
Low
-0.4%
09:00
EUR Euro-Zone Industrial Production w.d.a. (YoY) (FEB)
Medium
-1.3%
12:30
USD Producer Price Index (MoM) (MAR)
Medium
0.7%
12:30
USD Advance Retail Sales (MAR)
High
1.1%
12:30
USD Retail Sales Less Autos (MAR)
Medium
1.0%
12:30
USD Producer Price Index Ex Food & Energy (MoM) (MAR)
Medium
0.2%
12:30
USD Producer Price Index (YoY) (MAR)
Low
1.7%
12:30
USD Retail Sales Ex Auto & Gas (MAR)
Medium
0.4%
12:30
USD Producer Price Index Ex Food & Energy (YoY) (MAR)
High
1.7%
12:30
USD Retail Sales "Control Group" (MAR)
Low
0.4%
12:45
USD Fed's Rosengren Speaks in Boston
Low
13:55
USD U. of Michigan Confidence (APR P)
High
14:00
USD Business Inventories (FEB)
Medium
1.0%
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