Action Insight Daily Report 11-14-11

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Daily Report: Eyes on Italian Bond Auction after Monti Named as New Prime Minister Euro remains steady after Italy Prime Minister Berlusconi finally resigned over the weekend following parliamentary approval of the austerity package demanded by EU partners. Former European Union competition commissioner Mario Monti was named by President Napolitano as Prime Minister to lead the technical government. Monti is expected to name his cabinet and face a confidence vote this week. But before that, focus will be on today's sale of up to EUR 3b of 5-year bonds. Last week's one year bill auction was solid in spite of higher yields and a successful bond auction today should help keep Italian 10 year yield below 7% and thus stabilize the common currency. Full Report Here...
Featured Technical Report
EUR/GBP Daily Outlook Daily Pivots: (S1) 0.8521; (P) 0.8554; (R1) 0.8579; More Intraday bias in EUR/GBP remains neutral for the moment and more consolidations would be seen above 0.8485 temporary low. But upside is expected to be limited by 0.8651 resistance and bring fall resumption. Current development indicates that whole decline from 0.9083 has just resumed. Below 0.8485 will target 100% projection of 0.9083 to 0.8529 from 0.8830 at 0.8276. On the upside, however, break of 0.8651 resistance will dampen this immediate bearish view and turn outlook neutral first. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Forex Brokers

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GMT Ccy Events Actual Consensus Previous Revised 21:45 NZD Retail Sales Ex Inflation Q/Q Q3 2.20% 0.60% 0.90% 1.00% 23:50 JPY GDP Q/Q Q3 P 1.50% 1.50% -0.50% 23:50 JPY GDP Deflator Y/Y Q3 P -1.90% -2.20% -2.20% 4:30 JPY Industrial Production M/M Sep F -3.30% -3.70% -4.00% 8:15 CHF Producer & Import Prices M/M Oct -0.30% -0.10% 8:15 CHF Producer & Import Prices Y/Y Oct -1.90% -2.00% 10:00 EUR Eurozone Industrial Production M/M Sep -2.30% 1.20%
Forex Trade Ideas
Due to technical difficulties, trade ideas will be updated later today Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500
Suggested Readings
Fundamental Highlights EUR Extends Gains As Italy Announces A New PM Daily Financial Market Outlook Stocks Rally As Italy And Greece Move Forward Forex Exchange Morning Report Technical Highlights AUDUSD Weekly - Temporarily Bullish Above 1.0052 The Daily Forecaster: EURUSD EUR/USD - The Next Opportunity Presenting Itself Daily Forex Update: CAD/JPY

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