DAILY I FOREX REPORT 28 th MAY 2013 WWW.EPICRESEARCH.CO +91 7316642300
Daily i-forex-report-1 by epic research 28 may 2013
Jun 26, 2015
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US Dollar, S&P 500 Take Initial Steps to Downward Reversals
Japanese Yen Outperforms as Nikkei Leads Asian Stocks Lower
Japanese Yen Outperforms as Nikkei Continues to Lead Asian Stocks Lower
The Japanese Yen outperformed in overnight trade, rising as much as 0.6 percent against its top counterparts, as risk appetite floundered in Asian trade and encouraged an unwinding of carry trades funded in the low-yielding currency. The MSCI Asia Pacific regional benchmark stock index fell 1.1 percent.
Japan’s Nikkei 225 index led the way lower, sliding as much as 4 percent. We see recent liquidation in Japanese shares and the parallel recovery in the Yen as a reflection of profit-taking in the absence of new catalysts to propel policy speculation until the effectiveness of “Abenomics” can be credibly assessed.
Looking ahead, market holidays in the UK and the US will keep the world’s largest FX dealing centers offline, making for particularly low liquidity conditions. This is likely to make for a quiet day, although traders would be wise to remember that price swings can be amplified by thin markets can in the event of a major dislocation. This makes exchange rates particularly vulnerable to headline risk and caution is prudent.
TRADING TIPS
BUY EURUSD ABOVE
1.2950 TGT 1.2970/1.2990
SL 1.2920
BUY USDJPY ABOVE 101.25
TGT 101.45/101.65 SL
100.95
SELL GBPUSD BELOW
1.5115 TGT 1.5095/1.5075
SL 1.5145
HEADLINES
HOURLY EURUSD CHART
HOURLY EURUSD CHART
ANALYSIS
OPEN: 1.2936 EURUSD LOOKS UPWARD
HIGH: 1.2949 TREND: BULLISH
LOW: 1.2915 STRATEGY: BUY ON DIPS
CLOSE: 1.2946 MACD =>-.0004(BULLISH SIGNAL)
RSI => 59(BULLISH SIGNAL)
HOURLY USDJPY CHART
ANALYSIS
OPEN: 101.10 USDJPY LOOKS WARD
HIGH: 101.24 TREND: BULLISH
LOW: 100.74 STRATEGY: BUY ON DIPS
CLOSE: 100.88 MACD =>.04(BULLISH SIGNAL)
RSI => 34(BULLISH SIGNAL)
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HOURLY GBPUSD CHART
ANALYSIS
OPEN: 1.5129 GBPUSD LOOKS DOWNWARD
HIGH: 1.5157 TREND: BEARISH
LOW: 1.5115 STRATEGY: SELL ON RISE
CLOSE: 1.5137 MACD =>-.000(BEARISH SIGNAL)
RSI => 54(BEARISH SIGNAL)
HOURLY EURGBP CHART
ANALYSIS
OPEN: 00.8550 EURGBP LOOKS DOWNWARD
HIGH: 00.8558 TREND: BEARISH
LOW: 00.8535 STRATEGY: SELL ON RISE
CLOSE: 00.8553 MACD =>.00005(BEARISH SIGNAL)
RSI => 52(BEARISH SIGNAL)
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HOURLY USD INDEX CHART
ANALYSIS
OPEN: 83.6110 USDINDEX LOOKS DOWNWARD
HIGH: 83.6830 TREND: BEARISH
LOW: 83.5080 STRATEGY: SELL ON RISE
CLOSE: 83.5300 MACD =>.0291(BEARISH SIGNAL)
RSI => 38(BEARISH SIGNAL)
Date Time Currency Event Importance Actual Forecast Previous Notes
Sun
May 26 23:01
GBP Hometrack Housing Survey (MoM) (MAY)
Low 0.4%
0.3%
23:01
GBP Hometrack Housing Survey (YoY) (MAY)
Low 0.4%
0.2%
23:50
JPY Bank of Japan Releases April 26 Meeting Minutes
High
Mon May 27
01:30
CNY Industrial Profits YTD (YoY) (APR)
Low 11.4%.
12.1%
23:50
JPY Corporate Service Price (YoY) (APR)
Low
-0.2% -0.2%
Tue May 28
CNY Leading Index (APR)
Medium
99.38
03:45
JPY BoJ Board Member Miyao Speaks at Correspondents' Club
Low
05:00
JPY Small Business Confidence (MAY)
Medium
49.4
06:00
CHF Trade Balance (Swiss franc) (APR)
Medium
2.00B 1.90B
06:00
CHF Exports (MoM) (APR)
Low
5.1%
06:00
CHF Imports (MoM) (APR)
Low
2.0%
06:00
EUR German Import Price Index (MoM) (APR)
Low
-0.4% -0.1%
06:00
EUR German Import Price Index (YoY) (APR)
Low
-2.3% -2.3%
13:00
USD S&P/CS 20 City s.a. (MoM) (MAR)
Low
1.0% 1.2%
13:00
USD S&P/Case-Shiller Composite-20 (YoY) (MAR) (MAR)
Low
10.2% 9.3%
13:00
USD S&P/Case-Shiller Home Price Index (MAR) (MAR)
Low
147.48 146.57
13:00
USD S&P/Case-Shiller US Home Price Index (YoY) (1Q)
Low
7.3%
ECONOMIC CALLENDER
13:00
USD S&P/Case-Shiller US Home Price Index (1Q)
Low
135.22
14:00
USD Richmond Fed Manufacturing Index (MAY)
Low
-4 -6
14:00
LIVE
USD Consumer Confidence (MAY)
High
71 68.1
14:30
USD Dallas Fed Manufacturing Activity (MAY)
Low
-10 -15.6
23:50
JPY Large Retailers' Sales (APR)
Medium
-0.6% 2.4%
23:50
JPY Retail Trade s.a. (MoM) (APR)
Low
0.0% -1.4%
23:50
JPY Retail Trade (YoY) (APR)
Medium
-0.5% -0.3%
Wed May 29
00:00
AUD CBAHIA House Affordability (1Q)
Low
68.9
00:00
JPY Bank of Japan Governor Kuroda Speaks at BOJ Conference
Medium
00:30
AUD Westpac Leading Index (MoM) (MAR) (MAR)
Medium
0.6%
01:30
AUD Construction Work Done (1Q)
Low
1.0% -0.1%
06:00
CHF UBS Consumption Indicator (APR)
Medium
1.25
07:00
JPY BoJ Holds Meeting with Investors and Market Participants
Low
07:55
EUR German Unemployment Change (MAY)
High
5K 4K
07:55
EUR German Unemployment Rate s.a. (MAY)
High
6.9% 6.9%
08:00
EUR Euro-Zone M3 s.a. (YoY) (APR)
Low
2.9% 2.6%
08:00
EUR Euro-Zone M3 s.a. (3M) (APR)
Low
2.9% 3.0%
09:00
LIVE
EUR EC OECD May Economic Outlook (MAY)
Medium
10:00
GBP CBI Reported Sales (MAY)
Low
3 -1
11:00
USD MBA Mortgage Applications (MAY 24)
Low
-9.8%
12:00
EUR German Consumer Price Index (MoM) (MAY P)
Medium
0.2% -0.5%
12:00
EUR German Consumer Price Index (YoY) (MAY P)
High
1.3% 1.2%
12:00
EUR German Consumer Price Index - EU Harmonised (MoM) (MAY P)
Medium
0.2% -0.5%
12:00
EUR German Consumer Price Index - EU Harmonised (YoY) (MAY P)
High
1.4% 1.1%
12:30
CAD Average Weekly Earnings (YoY) (MAR)
Low
3.1%
14:00
LIVE
CAD Bank of Canada Rate Decision (MAY 29)
High
1.00% 1.00%
16:15
USD Former Fed Chairman Paul Volcker Speaks in New York
Low
17:00
USD Fed's Rosengren Speaks on Economy in Minneapolis
Low
22:45
NZD Building Permits (MoM) (APR)
Low
-9.1%
23:50
JPY Japan Buying Foreign Bonds (Yen) (MAY 24)
Medium
-¥804.4B
23:50
JPY Japan Buying Foreign Stocks (Yen) (MAY 24)
Medium
-¥136.9B
23:50
JPY Foreign Buying Japan Bonds (Yen) (MAY 24)
Low
¥17.7B
23:50
JPY Foreign Buying Japan Stocks (Yen) (MAY 24)
Low
¥716.0B
Thu May 30
01:30
AUD Building Approvals (MoM) (APR)
Low
4.0% -5.5%
01:30
AUD Building Approvals (YoY) (APR)
Medium
22.5% 3.9%
01:30
AUD Private Capital Expenditure (1Q)
Low
0.5% -1.2%
05:45
CHF Gross Domestic Product (QoQ) (1Q)
Medium
0.2% 0.2%
05:45
CHF Gross Domestic Product (YoY) (1Q)
Medium
1.0% 1.4%
06:00
GBP Nationwide House Prices s.a. (MoM) (MAY)
Low
0.5% -0.1%
06:00
GBP Nationwide House Prices n.s.a. (YoY) (MAY)
Medium
0.9% 0.9%
08:15
JPY BoJ Deputy Governor Nakaso Speaks at Bellwether Conference
Low
08:30
GBP Lloyds Business Barometer (MAY)
Low
27
09:00
LIVE
EUR Euro-Zone Economic Confidence (MAY)
Medium
89.4 88.6
09:00
EUR Euro-Zone Business Climate Indicator (MAY)
Low
-0.85 -0.93
09:00
EUR Euro-Zone Industrial Confidence (MAY)
Low
-13 -13.8
09:00
EUR Euro-Zone Consumer Confidence (MAY F)
Medium
-21.9 -21.9
09:00
EUR Euro-Zone Services Confidence (MAY)
Low
-10.6 -11.1
12:30
CAD Current Account (BoP) (Canadian dollar) (1Q)
Low
-$15.7B -$17.3B
12:30
USD Gross Domestic Product (Annualized) (1Q S)
High
2.5% 2.5%
12:30
USD Personal Consumption (1Q S)
High
3.3% 3.2%
12:30
USD Gross Domestic Product Price Index (1Q S)
High
1.2% 1.2%
12:30
USD Core Personal Consumption Expenditure (QoQ) (1Q S)
Medium
1.2% 1.2%
12:30
CAD Industrial Product Price (MoM) (APR)
Low
-0.3% 0.1%
12:30
USD Initial Jobless Claims (MAY 25)
Medium
340K 340K
12:30
CAD Raw Materials Price Index (MoM) (APR)
Low
-0.9% -1.7%
12:30
USD Continuing Claims (MAY 18)
Low
2970K 2912K
14:00
USD Pending Home Sales (MoM) (APR)
Low
1.50% 1.50%
14:00
USD Pending Home Sales (YoY) (APR)
Medium
12.6% 5.8%
14:30
USD EIA Natural Gas Storage Change (MAY 24)
Low
89
15:00
USD DOE U.S. Crude Oil Inventories (MAY 24)
Low
-338K
15:00
USD DOE Cushing OK Crude Inventory (MAY 24)
Low
449K
15:00
USD DOE U.S. Gasoline Inventories (MAY 24)
Low
3015K
15:00
USD DOE U.S. Distillate Inventory (MAY 24)
Low
-1052K
16:35
USD OFR's Berner speaks on Financial Stability
Low
22:45
NZD Terms of Trade Index (QoQ) (1Q)
Medium
-1.3%
23:01
GBP GfK Consumer Confidence Survey (MAY)
Medium
-26 -27
23:15
JPY Nomura/JMMA Manufacturing Purchasing Manager Index (MAY)
Medium
51.1
23:30
JPY Household Spending (YoY) (APR)
Medium
3.0% 5.2%
23:30
JPY Jobless Rate (APR)
Medium
4.1% 4.1%
23:30
JPY Job-To-Applicant Ratio (APR)
Low
0.87 0.86
23:30
JPY National Consumer Price Index (YoY) (APR)
High
-0.7% -0.9%
23:30
JPY National Consumer Price Index Ex-Fresh Food (YoY) (APR)
Medium
-0.4% -0.5%
23:30
JPY National Consumer Price Index Ex Food, Energy (YoY) (APR)
Medium
-0.7% -0.8%
23:30
JPY Tokyo Consumer Price Index (YoY) (MAY)
Low
-0.4% -0.7%
23:30
JPY Tokyo Consumer Price Index Ex-Fresh Food (YoY) (MAY)
Low
-0.2% -0.3%
23:30
JPY Tokyo Consumer Price Index Ex Food, Energy (YoY) (MAY)
Low
-0.7% -0.7%
23:50
JPY Industrial Production (MoM) (APR P)
Low
0.6% 0.9%
23:50
JPY Industrial Production (YoY) (APR P)
Medium
-3.4% -6.7%
Fri May 31
JPY Bank of Japan Deputy Governor Nakaso Speaks in Tokyo
Low
01:00
NZD ANZ Business Confidence (MAY)
Low
32.3
01:00
NZD ANZ Activity Outlook (MAY)
Low
30.3
01:30
AUD Private Sector Credit (MoM) (APR)
Low
0.3% 0.2%
01:30
AUD Private Sector Credit (YoY) (APR)
Medium
3.0% 3.2%
01:35
CNY MNI May Business Sentiment Indicator
Low
03:00
NZD Money Supply M3 (YoY) (APR)
Low
7.0%
04:00
JPY Vehicle Production (YoY) (APR)
Low
-16.4%
05:00
JPY Housing Starts (YoY) (APR)
Medium
4.1% 7.3%
05:00
JPY Annualized Housing Starts (APR)
Medium
0.923M 0.904M
05:00
JPY Construction Orders (YoY) (APR)
Low
-3.4%
06:00
EUR German Retail Sales (MoM) (APR)
Low
0.2% -0.3%
06:00
EUR German Retail Sales (YoY) (APR)
Medium
1.1% -2.8%
07:00
CHF KOF Swiss Leading Indicator (MAY)
Medium
1.07 1.02
08:00
EUR Italian Unemployment Rate s.a. (APR P)
Low
11.6% 11.5%
08:00
EUR Italian Unemployment Rate s.a. (1Q)
Low
11.6% 11.2%
08:30
GBP Net Consumer Credit (APR)
Medium
0.4B 0.5B
08:30
GBP Net Lending Sec. on Dwellings (APR)
Medium
0.5B 0.4B
08:30
GBP Mortgage Approvals (APR)
Medium
54.6K 53.5K
08:30
GBP M4 Money Supply (MoM) (APR)
Low
-0.9%
08:30
GBP M4 Money Supply (YoY) (APR)
Low
0.3%
08:30
GBP M4 Ex IOFCs 3M Annualised (APR)
Low
3.3% 4.6%
09:00
EUR Euro-Zone Consumer Price Index Estimate (YoY) (MAY)
Medium
1.4% 1.2%
09:00
EUR Euro-Zone Unemployment Rate (APR)
Medium
12.2% 12.1%
09:00
EUR Euro-Zone Consumer Price Index - Core (YoY) (MAY A)
High
1.1% 1.0%
12:30
CAD Quarterly Gross Domestic Product Annualized (1Q)
High
2.3% 0.6%
12:30
CAD Gross Domestic Product (MoM) (MAR) (MAR)
Medium
0.1% 0.3%
12:30
CAD Gross Domestic Product (YoY) (MAR) (MAR)
High
1.5% 1.7%
12:30
USD Personal Income (APR)
Medium
0.1% 0.2%
12:30
USD Personal Spending (APR)
Medium
0.0% 0.2%
12:30
USD Personal Consumption Expenditure Deflator (MoM) (APR)
Low
-0.2% -0.1%
12:30
USD Personal Consumption Expenditure Deflator (YoY) (APR)
Low
0.8% 1.0%
12:30
USD Personal Consumption Expenditure Core (MoM) (APR)
Low
0.1% 0.0%
12:30
USD Personal Consumption Expenditure Core (YoY) (APR)
Medium
1.0% 1.1%
12:45
USD Fed's Pianalto Speaks on Financial Stability in Washington
Low
13:00
USD NAPM-Milwaukee (MAY)
Low
49.0 48.4
13:45
USD Chicago Purchasing Manager (MAY)
Low
50.0 49.0
13:55
USD U. of Michigan Confidence (MAY F)
Medium
83.7 83.7
14:00
USD Revisions to the Wholesale Sales and Inventories Report
Low
14:00
USD Revisions of Retail Sales Released
Low
15:00
USD Fed's Liang Speaks on Financial Stability in Washington
Low
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