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14.12.2010
20:14
Dow +57.52 at 11486.08, Nasdaq +6.78 at 2631.69, S&P +2.95 at 1243.41

Stocks have sold off from their session highs following the FOMC statement, and now look to hold their gains. The Dow still leads the way, trading up 0.5%, but the S&P 500 and Nasdaq have slipped to gains of 0.2%.

Financials (-0.5%) have turned negative, and are the worst performing sector in the S&P 500. Weakness in the sector is noticeable in the regional banks as Regions Financial (RF 6.25, -0.30), Huntington Bancshares (HBAN 6.35, -0.31), and First Horizon National (FHN 10.52, -0.40) are the worst performing stocks in the space.

20:06
USD/JPY holds higher

Firmer US yields post-FOMC allow USD/JPY to etch a marginal fresh high for the day atop Y83.65 with flows still on the modest side as befits the pre-holiday session. Offers remain in place ahead of Y84.00 area, likely to provide a hurdle along with tech resistance nearby.

19:59
CS says FOMC statement recommitted to QE2 but said it will review the program.
19:43
News reaction

EUR/USD fell under $1.3400 after FOMC's decision and currently holds around $1.3392. Euro's moves are the response to a prominent analyst comment on tv that yields will go higher, a trader says.

19:25
FOMC's statement:
  • FOMC leaves all policies unch, affirms QE2 for $600b Tsys ;
  • FOMC says econ pace is slow, insufficient to bring down unemployment;
  • recovery continuing but progress still 'disappointingly slow'
  • vote 10-1 with Hoenig dissenting again, warning of improving econ, risk of imbalances & raising infl expectations
  • same old as Nov.
19:15
FED: FOMC leaves all policies unch, affirms QE2 for $600b Tsys
19:10
AHEAD OF THE FED: Euro-dollar holds around $1.3425 and dollar elsewhere is Y93.35, $1.5800, Chf0.9568 and C$1.0045. Dow is up about 72 points and 2yr yield is 0.617% middle, 10 yr at 3.38% middle.
19:00
SMRA on EUR/USD

Techs, from SMRA's Michael Saccitello; Bigger picture, post-11/30 euro strength is still viewed as part of a corrective structure. After today's break above the 12/03 pivot, however, the potential for the 3rd leg (C) of this structure to extend through $1.3635/1.3709 has increased. As long as $1.3363 holds, the short-term case remains immediately bullish for the euro. Movement below $1.3363 would introduce initial potential through $1.3291, with key Fib points at $1.3341 and $1.3304 along the way.

18:38
Barclays Capital on AUD/USD

Technical analysts at Barclays Capital say AUD/USD has benefited from copper hitting all time highs in recent sessions. "Within the wider $0.9540 to $1.0180 range, the market appears to be completing a basing pattern," they say. As long as Aussie does not break back below $0.9750 (Dec 8 lows at $0.9747), there is scope for a return to the 2010 peaks (around $1.0180 seen Nov 5), with initial resistance seen at $1.0040, they say. Aussie, currently at $1.0010, last closed above parity Nov 10.

18:16
EUR/USD holds near $1.3400

Another trader affirming that there has been only limited volume behind the euro's return to a $1.3400 handle, "just squaring up ahead of the FOMC meeting," he contends. Few in FX even discussing the FOMC outcome ahead, expected to be almost a non-event for FX, barring any unexpected surprises.

17:56
American focus: the dollar is strengthening.


The dollar gained against the yen before the outcome of the Federal Reserve’s meeting to review its policy of debt purchases to bolster the U.S. economy.

The U.S. currency erased declines, including touching a three-week low against the euro, as Treasury yields increased after U.S. retail sales rose more than forecast during November, a sign consumers will play a bigger role in the economic recovery. The Swiss franc strengthened after the government raised its economic growth forecast for 2011. The Federal Open Market Committee will issue a policy statement at 2:15 p.m. New York time.



“My expectation for the Fed is they are going to do their best in their statement to talk rates lower again and probably going to firm up their commitment to pursuing their full allotment of the $600 billion asset purchases,” said Brian Dolan, chief strategist at FOREX.com, a unit of online currency trading firm Gain Capital in Bedminster, New Jersey. “That potentially could drive down yields and limit dollar/yen and put it back under pressure.”

15:45
US OUTLOOK: CS says Q3 real GDP growth could be rev to 3.0% (from 2.5%), and their Q4 GDP est is upgraded to 3.2%.
15:10
US DATA: Oct business inv +0.7%, below expections of +1.0% because retail inventories -0.6% due to +1.8% retail sales.

 Retail inv ex mtr veh inv -0.3%, with mtr veh inv -1.3%. Business inv ex. retail auto +0.9%. There were inventory declines in every retail category except clothing and dept stores. Business sales +1.4% in Oct, pulling the inv/sales ratio down to 1.27, still below the 1.30 ratio a year ago. NSA business sales +7.3% yr/yr, and NSA inv +7.0% yr/yr.

14:35
US DATA REACT: BNP says sales were strong in Nov in the absence of price discounting. Barclays says real GDP is running +3.5% in Q4.
14:17
Before the bell: U.S. stocks were set to open flat Tuesday ahead of a slew of economic data, and as investors continue to await resolution on a tax-cut deal in Washington.


Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were mixed ahead of the opening bell. Dow futures edged down a few points, while the S&P and Nasdaq futures were up a littke. Futures measure current index values against perceived future performance.

On Monday, stocks finished a lackluster session mixed as investors mulled a flurry of corporate deals, and as the tax deal cleared a key Senate procedural hurdle.

Markets were unable to carry over last week's momentum, when stocks churned higher, with the S&P 500 reaching its highest level in two years on Friday.

Investors are largely counting on the extension of the Bush-era tax cuts. The compromise between President Obama and Republicans in Congress could face a final Senate vote Tuesday after passing a key test Monday.

"It has largely been anticipated at this time but I think you will get a little bit of a euphoric bounce when it actually passes the House," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "If nothing else maybe a source of relief rally that it wasn't stalled out."

An extension of the Bush-era tax would keep cash in the wallets of Americans. And since consumers are responsible for the lionshare of the spending in the U.S., confident consumers willing to spend is key to an economic recovery.

Reports any that take "a litmus test of the consumer" will be top of mind for investors between now and the end of the holiday shopping season, said Luschini.

Economy: The Federal Reserve's policy statement is due at 2:15 p.m. ET. The central bank is widely expected to hold interest rates near 0%, where they have been since the financial crisis took hold in 2008.

"I am expecting that we don't hear much in the way of new language," said Luschini. Investors will be keeping a close eye for any update on the Fed's read on the health of the economy or the Fed's quantitative easing program.

Government reports on retail sales and inflation at the wholesale level will be released before the market opens.

Economists expect U.S. retail sales to have risen 0.5% in November, according to consensus estimates from Briefing.com. Sales jumped 1.2% in October. Excluding the automotive sector, sales are forecast to have edged up 0.6% in the month.

The producer price index for November is expected to gain 0.5%, following a 0.4% increase the month before. Core PPI -- which excludes food and energy prices -- is forecast to rise 0.2%, following a dip in October.

Luschini doesn't expect that the PPI report will surprise investors, but retail sales could be a mover. Retail sales "could change the sentiment of the market -- at least for today -- should it come in a little bit weaker than expected."

After the market opens, another report is expected to show business inventories grew 1.1% in October.

Companies: BestBuy (BBY, Fortune 500) shares slid 10% in premarket trading after the home electronics retailer lowered its fiscal year outlook and posted a 3.3% decline in quarterly same-store sales.

Homebuilder Hovananian (HOV) reports after the closing bell.

13:34
US DATA: Nov retail sales +0.8% (5th monthly large gain), ex autos +1.2%, ex autos and gas +0.5%. Better than expected.
Oct was revised up to +1.7% (was +1.2%), so the Q4 avg is strengthening (Dec is the biggest sales month and analysts will be reluctant to put a growth number to Q4 until more is known about Dec). Nov sales were uneven, with gains centered in food +0.8%, healthcare +0.9%, gas +4.0%, clothing +2.7%, and sporting goods +2.3%. Declines were seen in autos -0.8%, furniture -0.5%, electronics -0.6%, and bldg mats -0.1%.
13:34
US DATA: Nov PPI +0.8% above expectations of +0.7%, core +0.3% (+0.28785% unrounded) for +3.5% YOY overall and +1.2% YOY core.

Driving rise in overall index was finished energy goods prices (+2.1%); within that gasoline prices +4.7%. Finished consumer foods also up 1.0%. Rise in PPI core fueled by cars (+1.7%); BLS analyst says car prices boosted by 'reasonable' inventories, rising demand. Intermediate goods +1.1%, -0.7% excluding foods and energy. Crude goods price index +0.6%.

12:41
European session:

The dollar depreciated to a three- week low against the euro on speculation the Federal Reserve may buy more bonds to bolster the economy, while stocks and U.S. futures were little changed. Copper and cotton gained as Spanish and Portuguese bonds dropped.
Fed policy makers meeting today may signal a willingness to boost debt purchases beyond the $600 billion already announced to spur job growth. Federal Reserve Chairman Ben S. Bernanke told CBS Corp.’s “60 Minutes” on Dec. 5 that the recovery may not be self-sustaining and more bond buying is “certainly possible.” The European Central Bank increased its bond purchases to 2.67 billion euros ($3.6 billion) last week, the highest in 23 weeks.
The dollar is down because of “the expectation for the Fed to reiterate its enthusiasm for future quantitative easing measures,” said Neil Jones, head of European hedge fund sales at Mizuho Corporate Bank Ltd. “The surprise to the forex market would be if the Fed goes quiet on further QE measures ahead.”


EUR/USD: Sails through earlier highs/resistance at $1.3470/75, with the added demand extending highs to $1.3498. Move triggers further stops, with the illiquid conditions continuing to exaggerate effect. More stops noted above $1.3500 with first notable sell interest remaining in place at $1.3515/20.

GBP/USD: Spiked up from around $1.5860 to $1.5900 on release of stronger than forecast UK inflation data, with rate holding firm. Offers seen placed toward the earlier high at $1.5911, a break of $1.5915/20 to open a move on toward $1.5930 ahead of stronger resistance at $1.5050/55. Support seen back at $1.5860/50.

USD/JPY: eased to Y82.80.



US data starts at 1245GMT with the weekly ICSC shopping center sales data, although the main data starts at 1330GMT with retail sales and PPI. Retail sales are expected to rise 0.7% in November. Industry auto sales stable in the month, while gasoline prices rose further according to AAA. Sales excluding motor vehicles are expected to rise 0.7% on the higher gasoline prices as well as solid early holiday sales. Producer prices are expected to rise 0.7% in November. Both food and energy prices are expected to move higher. The core PPI is expected to rise 0.3% after the surprise 0.6% drop in October, when seasonal adjustment issues with vehicle prices were a key factor.
The much-awaited FOMC announcement will be the main feature of the US session with the announcement due around 1915GMT.

11:29
ECB TRICHET calls for maximum EFSF flexibility and capacity


Suggests Governing Council not in favor of Eurobonds
No particular comment on ECB capital hike plan report
'Extraordinarily attached' to bond buy sterilization
Non-standard tools to be in line with crisis impact
Can unwind mon policy, non-standard tools independently
Can't stress enough need for EMU bank restructuring
ECB has show it can deliver price stability, will continue
Sure Irish program will soothe fin markets tensions
EMU fiscal reform proposal not quantum leap ECB called for
EMU leaders aware unity is more justified than ever
Calls on govts to step up credible consolidation plans.

11:23
Option expiries for today's 1500GMT cut:

EUR/USD $1.3525, $1.3250, $1.3200, $1.3130, $1.3100

USD/JPY Y82.75, Y83.00, Y83.20, Y83.50, Y83.70, Y83.75

EUR/JPY Y115.30

GBP/USD $1.5900, $1.6000, $1.5750

USD/CHF Chf0.9800 AUD/USD $0.9935, $0.9900, $0.9830, $0.9800

AUD/JPY Y81.15, Y81.00

AUD/CHF Chf9675

11:22
Moody's has said it is maintaining its negative outlook for the UK banking system
Moody's has said it is maintaining its negative outlook for the UK banking system based on: the uncertain trajectory of the UK economy and the resulting downside asset-quality risks; the high level of wholesale funding refinancing that is required over the next few years; and the declining systemic support for the banking system from the UK government.
10:04
GERMANY: ZEW; Dec economic sentiment index +4.3 vs Nov +1.8
09:59
EMU: Oct Industry Output Sa +0.7% M/M, Wda +6.9% Y/Y
09:56
GBP/USD tested $1.5900

Spiked up from around $1.5860 to $1.5900 on release of stronger than forecast UK inflation data, with rate holding firm. Offers seen placed toward the earlier high at $1.5911, a break of $1.5915/20 to open a move on toward $1.5930 ahead of stronger resistance at $1.5050/55. Support seen back at $1.5860/50.

09:38
Germany Ifo: Ups Germany 2010 GDP Fcast To +3.7% Vs +3.5%

Ups Germany 2011 GDP Fcast To +2.4% Vs +2.0%
Sees Germany's Exports +14.8% In 2010, +7.4% In 2011
Sees Germany's CPI +1.1% In 2010; +1.7% In 2011
Sees Germany's Deficit At 3.5%/GDP In 2010, 2.3% In 2011
Sees EMU GDP +1.7% In 2010, +1.4% In 2011
Sees EMU HICP +1.5% In 2010; +1.4% In 2011
Sees ECB Raising Interest Rates By 25 Bp At End-2011
Assumes Average Euro Fx Of $1.33 In 2011

09:29
UK: Nov CPI +0.4% m/m; +3.3% y/y

Nov core CPI +0.2% m/m; +2.7% y/y

Nov RPIX +0.4% m/m; +4.7% y/y; Nov RPI +0.4% m/m; +4.7% y/y

08:34
Option expiries for today's 1500GMT cut

EUR/USD $1.3525, $1.3250, $1.3200, $1.3130, $1.3100
USD/JPY Y82.75, Y83.00, Y83.20, Y83.50, Y83.70, Y83.75
EUR/JPY Y115.30
GBP/USD $1.5900, $1.6000, $1.5750
USD/CHF Chf0.9800
AUD/USD $0.9935, $0.9900, $0.9830, $0.9800
AUD/JPY Y81.15, Y81.00
AUD/CHF Chf9675

08:32
Asian session:

Data:
04:30     Japan     Industrial output (October) final    -2.0%    
04:30     Japan     Industrial output (October) final Y/Y    4.3%   

The dollar was near a one-week low against the yen on prospects yields on U.S. assets will shrink as Federal Reserve policy makers prepare to discuss interest rates and bond purchases.
The greenback held yesterday’s loss against the euro on speculation the Fed will signal today it’s open to increasing debt purchases beyond the $600 billion already announced.
New Zealand’s dollar was near a 10-year low against Australia’s currency after a report showed retail sales in the smaller nation slid by the most since 1997.
New Zealand’s retail sales declined 2.5 percent in October, Statistics New Zealand said in Wellington. The drop was the biggest since May 1997.
U.S. retail sales rose 0.6 percent in November after adding 1.2 percent in October, according to the median estimate of economists in a survey before Commerce Department data today.
The euro was little changed ahead of data forecast to show German investor confidence rose for a second month and a confidence vote in Italy that may topple Prime Minister Silvio Berlusconi’s government.
An index of German investor and analyst expectations increased to 3.9 this month from 1.8 in November, according to a survey of economists.

EUR/USD: at the morning the pair become stronger above a mark $1,3450.

GBP/USD: at the morning the pair become stronger above a mark $1,5900.

USD/JPY: the pair decreased in around Y83,20.

UK data at 0930GMT includes the latest DCLG House Price Index as  well as inflation data, where CPI is expected to come in at 0.3% m/m,  3.2% y/y with core CPI at 2.7% y/y.
The main European data release for Tuesday is the ZEW data for December, where the expectations index is seen rising to a reading of +3.8 with the conditions index rising to +84.0. At 1000GMT, EMU industrial production
is expected to come in at 1.1% m/m, 7.4% y/y.
US data starts at 1245GMT with the weekly ICSC shopping center sales data, although the main data starts at 1330GMT with retail sales and PPI. Retail sales are expected to rise 0.7% in November. Industry auto sales stable in the month, while gasoline prices rose further according to AAA. Sales excluding motor vehicles are expected to rise 0.7% on the higher gasoline prices as well as solid early holiday sales. Producer prices are expected to rise 0.7% in November. Both food and energy prices are expected to move higher. The core PPI is expected to rise 0.3% after the surprise 0.6% drop in October, when seasonal adjustment issues with vehicle prices were a key factor.
The much-awaited FOMC announcement will be the main feature of the US session with the announcement due around 1915GMT.

08:28
Forex: Monday's review

The dollar fell against most of its major counterparts as China refrained from raising interest rates, lifting stock markets at the expense of safer assets.
The dollar weakened against the yen and the euro and declined for the third straight day against the Australian dollar and fourth day against the Canadian currency.
The Canadian dollar extended this month’s increase to 2% versus the dollar, trading within half a cent of parity. The fourth straight days of gains is the longest winning streak in more than a month.
The euro extended its gains after Moody’s Investors Service Inc. said the U.S. tax-cut package up for a procedural vote in the Senate boosts the chances for a negative outlook on the U.S. credit rating.

EUR/USD: the pair shown high in the field of $1,3435.

GBP/USD: the pair has shown  high in the field of $1,5890.

USD/JPY: on results of yesterday's session the pair decreased in around Y83,40.


UK data at 0930GMT includes the latest DCLG House Price Index as  well as inflation data, where CPI is expected to come in at 0.3% m/m,  3.2% y/y with core CPI at 2.7% y/y.
The main European data release for Tuesday is the ZEW data for December, where the expectations index is seen rising to a reading of +3.8 with the conditions index rising to +84.0. At 1000GMT, EMU industrial production
is expected to come in at 1.1% m/m, 7.4% y/y.
US data starts at 1245GMT with the weekly ICSC shopping center sales data, although the main data starts at 1330GMT with retail sales and PPI. Retail sales are expected to rise 0.7% in November. Industry auto sales stable in the month, while gasoline prices rose further according to AAA. Sales excluding motor vehicles are expected to rise 0.7% on the higher gasoline prices as well as solid early holiday sales. Producer prices are expected to rise 0.7% in November. Both food and energy prices are expected to move higher. The core PPI is expected to rise 0.3% after the surprise 0.6% drop in October, when seasonal adjustment issues with vehicle prices were a key factor.
The much-awaited FOMC announcement will be the main feature of the US session with the announcement due around 1915GMT.

08:23
Stock: Monday's review

Japanese stocks rose, sending the Nikkei 225 Stock Average to its highest close since May, as U.S. consumer confidence boosted the outlook for the global economic recovery and China refrained from raising interest rates.
Nippon Steel Corp., Japan’s largest maker of the alloy, climbed 2.7 percent after JPMorgan Chase & Co. increased its investment recommendation to “overweight.”
Machinery makers advanced after Credit Suisse AG raised its view on Japanese factory automation-related companies to bullish from bearish, saying orders for machine tools will likely increase. SMC Corp., a maker of directional-control devices, rallied 2.4 percent to 14,250 yen, the highest close since November 2007. THK Co., which makes industrial machinery, leapt 5.6 percent to 1,912 yen. Nabtesco Corp., a maker of hydraulic equipment, jumped 5.9 percent to 1,690 yen, a level not seen since January 2008.
Honda Motor Co., Japan’s second-biggest carmaker by sales that gets 44 percent of its revenue from North America, gained 1.1 percent. Toyota Motor Corp., the largest carmaker worldwide, gained 0.6 percent to 3,250 yen. Toshiba Corp., a maker of electronics and power equipment that gets more than half of its revenue abroad, climbed 1.9 percent to 440 yen.
TDK Corp., an electronics maker that derives more than 30 percent of its sales in China, advanced 2.8 percent.
Hitachi Construction Machinery Co., which is the world’s biggest maker of giant excavators and gets more than one-fourth of its sales in China, increased 1 percent to 1,992 yen. Komatsu Ltd., a maker of earth movers that gets about 20 percent of its sales in China, rose 1.4 percent to 2,462 yen.
Shares also gained as the yen weakened, improving the earnings prospects for exporters, and on speculation Japan will extend a capital-gains tax break by a year.

European stocks climbed for a sixth day, extending a two-year high, after China refrained from raising interest rates even as inflation surged.
The People’s Bank of China, which last week raised reserve- requirement ratios for banks by half a percentage point, didn’t increase interest rates this weekend even as consumer prices climbed at the fastest pace in more than two years in November.
Kazakhmys increased 4.1 percent to 1,592 pence, Xstrata Plc advanced 1.4 percent to 1,461.5 pence and Rio Tinto Group added 1.9 percent to 4,479 pence after copper jumped to a record on the London Metal Exchange. Chinese imports of copper and products rose 29 percent last month. Wellstream Plc jumped 5.8 percent after General Electric Co. agreed to buy the oilfield-services provider for about 800 million pounds ($1.3 billion).
John Wood Group Plc rallied 6.7 percent after agreeing to acquire PSN Ltd.
Yule Catto & Co. increased 12 percent to 290 pence after the supplier of polymers agreed to buy a latex maker from TowerBrook Capital Partners for 443 million euros ($585 million) to target the market for materials used in gloves.
Rhodia SA climbed 6 percent to 22.59 euros after Credit Suisse Group AG initiated coverage of the chemical maker with an “outperform” recommendation.
Renault gained 2.2 percent to 45 euros after Le Figaro reported that full-year sales may reach 38 billion euros, up from 33.7 billion euros in 2009. The newspaper did not say where it obtained the information.
Intercell AG plunged 41 percent to 10 euros after a vaccine patch to prevent diarrhea in travelers failed in two patient studies, prompting the company to forecast a wider loss. Deutsche Bank AG lowered its recommendation for the Vienna-based company to “sell” from “buy.”

U.S. stocks hovered near the break-even point Monday as investors mulled over a flurry of corporate deals and awaited a Senate vote on the extension of the Bush tax cuts.
All but twelve components of the Dow 30 gained. Caterpillar (CAT, Fortune 500), Disney (DIS, Fortune 500) and Chevron (CVX, Fortune 500) were the biggest winners, while Bank of America (BAC, Fortune 500), Intel (INTC, Fortune 500) and Boeing (BA, Fortune 500) led the declines.
Markets churned higher last week, with the S&P 500 reaching its highest level in two years on Friday, amid upbeat economic news and a dividend hike by General Electric.
Companies: Corporate dealmaking talk greeted investors Monday.
General Electric (GE, Fortune 500) offered $1.3 billion for Wellstream Holdings, an engineer and manufacturer of products for oil and gas transportation in the subsea production industry. Shares of GE edged lower.
Thermo Fisher Scientific (TMO, Fortune 500), the parent company of Thermo Scientific and Fisher Scientific, announced that it would acquire Dionex (DNEX) for about $2.1 billion -- or $118.50 per share in cash. Dionex is a leading manufacturer and marketer of chromatography systems. Thermo Fisher's offer represents a 21% premium to Dionex's closing stock price on Dec. 10.
Dell (DELL, Fortune 500) announced that it has purchased data storage company Compellent Technologies (CML) for $27.75 per share in cash. Last Thursday, Dell announced it was in talks with Compellent about a potential deal. Shares of Dell fell 3%, while shares of Compellent slid 2.7%. The deal is a "take-under," since it valued Compellent at a lower price than its previous close.
Shares of FedEx (FDX, Fortune 500) edged up slightly on what was projected to be the delivery giant's busiest day of the year. The company expects to move nearly 16 million shipments around the world on Monday.

07:28
Tech on USD/JPY

Resistance 3:Y85.90 (high of September)
Resistance 2:Y84.30/40 (Nov 29, Dec 1, 2 and 8 high)

Resistance 1:Y83.60 (session high)
Current price: Y83.43
Support 1:Y83.10 (Dec 13 low, 61,8 % FIBO Y82,30-Y84,30)
Support 2:Y82.30 (Dec 7 low, 50,0 % FIBO Y80,20-Y84,40)

Support 3:Y81.80 (61,8 % FIBO Y80,20-Y84,40)

Comments: the pair remains under pressure. The nearest support - Y83,10. Below losses are possible to Y82.30. The nearest resistance - Y83,60. Above growth is possible to Y84.30/40.



06:51
Tech on USD/CHF

Resistance 3: Chf0.9850 (Dec 13 high)
Resistance 2: Chf0.9720 (Dec 6 low)
Resistance 1: Chf0.9690 (session high)
Current price: Chf0.9676
Support 1: Chf0.9650 (Dec 13 low)
Support 2: Chf0.9590 (Nov 9 low)
Support 3: Chf0.9550 (Nov low)

Comments: the pair bargains below mark Chf0,9700. The nearest support Chf0,9650. Below loss may extend to Chf0.9590. The nearest resistance Chf0,9690. Above is located Chf0.9720.

06:39
Technics on GBP/USD

Resistance 3: $ 1.6100 (Nov 19 high)
Resistance 2: $ 1.5985 (61,8 % FIBO $1,6300-$ 1,5490)
Resistance 1: $ 1.5890 (50,0 % FIBO $1,6300-$ 1,5490, Dec 13 high)
Current price: $1.5864
Support 1 : $1.5840 (session low)
Support 3 : $1.5750 (support line from Dec 2)
Support 3 : $1.5720 (Dec 13 low)

Comments: the pair bargains in the field of the high reached yesterday. The nearest resistance - $1,5890. Above growth is possible to $1,5985. The nearest support - $1,5840. Below decrease is possible to $1.5720.

06:39
Tech on EUR/USD

Resistance 3: $ 1.3630 (50,0% FIBO $1,4285-$ 1,2970)
Resistance 2: $ 1.3475 (31.8% FIBO $1,4285-$ 1,2970)
Resistance 1: $ 1.3435 (Dec 13 high)
Current price: $1.3394
Support 1 : $1.3370 (session low)
Support 2 : $1.3220 (support line from Dec 1)
Support 3 : $1.3180 (Dec 13 low)


Comments: the pair bargains in the field of the high reached yesterday. The nearest resistance - $1,3435. Above growth is possible to $1,3475. The nearest support - $1,3370. Below decrease is possible to $1.3220.

06:05
Schedule for today, Tuesday, Dec'14'2010:

04:30     Japan     Industrial output (October) final         -1.8%    -1.8%
04:30     Japan     Industrial output (October) final Y/Y         4.5%    4.5%
09:30     UK     HICP (November)         -    0.3%
09:30     UK     HICP (November) Y/Y         3.2%    3.2%
09:30     UK     HICP ex EFAT (November) Y/Y         2.7%    2.7%
09:30     UK     Retail prices (November)         -    0.2%
09:30     UK     Retail prices (November) Y/Y         4.5%    4.5%
09:30     UK     RPI-X (November) Y/Y         -    4.6%
10:00     Germany     ZEW economic expectations index (December)         3.6    1.8
10:00     EU(16)     Industrial production (October)         1.0%    -0.9%
10:00     EU(16)     Industrial production (October) Y/Y          -    5.2%
13:30     USA     Retail sales (November)         0.5%    1.2%
13:30     USA     Retail sales excluding auto (November)         0.5%    0.4%
13:30     USA     PPI (November)         0.5%    0.4%
13:30     USA     PPI (November) Y/Y         -    4.3%
13:30     USA     PPI excluding food and energy (November)         0.2%    -0.6%
13:30     USA     PPI excluding food and energy (November) Y/Y         -    1.5%
15:00     USA     Business inventories (October)         1.2%    0.9%
19:15     USA     FOMC meeting announcement         0.00-0.25%    0.00-0.25%
23:50     Japan     Tertiary activity index (October)          0.2%    -0.9%
23:50     Japan     BoJ Tankan survey (Q4)         +4    +8

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