arrived late today, anyone had any signal so far? enjoy your day guys.
No signal for Cat today.
No EMA cross... besides today was very flat day.
Published: Feb. 27 2006, 15:36 GMT
Data Watch Tonight
Big Asian Data Cluster Tonight - Expect more JPY strength on better than expected figures in Japan overnight.
We have a huge load of data coming out in Japan and Australia overnight.
Expect JPY strengthening across the board and a still improving Japanese rate outlook.
23:30 GMT Nomura/JMMA Manufacturing (Feb). We are seeing a pick-up of economic activity in this sector. The survey should confirm this trend.
23:50 GMT Industrial Production MoM (Jan P), expected at 0.4%.
23:50 GMT Large Retailers' Sales (Jan P), expected at 0.1%. The market is really looking for Japanese internal demand to strengthen. So far it has not got what is was looking for.
23:50 GMT Retail Trade MoM (Jan P), expected at 0.5%.
05:00 GMT Housing Starts YoY (Jan), expected at -3.0%. The negative sign is not important. Focus will be on the current trend - i.e. a stronger housing market.
05:00 GMT Small Business (Feb), expected at 50.0. Has not been higher than 50.9 in the last 15 years. A reading close to this could really stir up the markets.
All in all, the Japanese figures should be good. Apparently, a lot has been priced in already, but if this data cluster confirms that the Japanese economy is on the right track, we should have a massive move higher in yields as BoJ's Fukui has been talking about an end to "quantitative easing" lately and since JGB's are already close to key support, which has already been broken falsely. A decisive more through support could lead JGB's much lower.
JPY should have another boost. Is it too much? Not in JPY. In every other currency, the previous move would have it stop and consolidate or take out the most highly leveraged speculators in a corrective move. JPY (and many Japanese) assets have a tendency to continue for longer than seems appropirate for other assets. The currency looks especially strong vs. European currencies.
Nikkei should go cautiously higher, a bit concerned about the prospects of higher rates. Don't expected the 16777 to be broken this week, but expect to see it tested.
The rather large Current Account Deficit (4Q) is set to attract some attention around 00:30 GMT. The expectation is -13600M. We have no strong opinion on it, but AUD might sell off anyway on JPY strength (as AUD has been used intensively as a long side in the Carry Trade vs. JPY).
Kalenzo On Your Time Indicator What Are The 2 Orange Lines Represent Previous High And Lows ? Do They Move As They Get Broken?
Thanks for the answer, yes zooming out helps. I think its a MT bug.
Look at the range from 08:00cet to 18:00cet on majors:
EURUSD, 31 pips.
USDCHF, 35 pips.
GBPUSD, 53 pips. As always, the best.
Thanks CatFX50 to have kept us out.
One day with some trades but not easy.
On the other hand tomorrow, the market should move well
If, read above, Japan data is too positive tonight, you will see a big move during asian session. And that means that european session will be boring.
They represent current day high and low, just for better view.
Possible signal is waiting in USDJPY.
But watch the trendline - wait until broken