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Mid-Day Report: Dollar Mixed as FOMC Awaited, SNB on HoldDollar remains mixed in early US session as markets are waiting for FOMC rate decision. Economic data released from US saw housing starts dropped to 1.13m annualized rate in August, below expectation of 1.16m. Building permits rose to 1.17m, above expectation of 1.15m. Current account deficit narrowed to USD -110b in Q2. Initial jobless claims dropped to 264k in the week ended September 12. Continuing claims dropped 26k to 2.24m in the week ended September 5. Released earlier today, UK retail sales rose 0.2% mom in August, inline with consensus. New Zealand GDP rose 0.4% qoq in Q2, below expectation of 0.6% qoq. Japan trade deficit narrowed to JPY -0.36T in August. | |
Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 120.20; (P) 120.46; (R1) 120.82; More... Intraday bias in USD/JPY remains neutral for the moment. On the upside, break of 121.62 will extend the rebound from 116.13 and target 125.27/85 resistance zone. We'd cautious on strong resistance from there to bring reversal. On the downside, break of 118.58 will turn focus back to 116.13 support instead. |
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Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency edged higher, however, sell orders are still noted at 1.1355-60 and 1.1375, selling interest is tipped at 1.1390-00, 1.1420 and 1.1450. On the downside, bids are seen at 1.1300, 1.1285 and 1.1260, buy orders are expected at 1.1245 (stops below), 1.1225 and 1.1200, buying interest should emerge around 1.1165, 1.1150 and 1.1130, mixture of bids and stops is located at 1.1100. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea Update: GBP/USD - Buy at 1.5430As cable has maintained a firm undertone after yesterday's rally above 1.5476, adding credence to our bullish view that the rise from 1.5164 low is still in progress an further gain to 1.5565-70 (61.8% Fibonacci retracement of 1.5818-1.5164) would be seen, however, reckon upside would be limited to 1.5600 and price should falter well below 1.5640-45 (100% projection of 1.5164-1.5476 measuring from 1.5330). Trade Idea Update: USD/JPY - Buy at 120.50As the greenback has surged again after brief pullback to 120.34 earlier today, adding credence to our view that low has been formed at 119.40 (Tuesday's low with a hammer candlestick pattern on the hourly chart) and consolidation with upside bias remains for gain to resistance at 120.97, however, break there is needed to signal the correction from 121.35 has ended at 119.40, bring further rise towards said resistance at 121.35 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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