Daily i-forex-report-1 by epic research 24 may 2013
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  • 1. DAILY I FOREX REPORT24thMAY 2013WWW.EPICRESEARCH.CO +91 7316642300
  • 2. WWW.EPICRESEARCH.CO +91 7316642300 USD/JPY Takes BiggestPlunge in Three Years AfterNikkei Bubble Bursts Yen To Extend Gains As USData Underpins QE3Reduction BetsAfter touching its highest level in four and a half years,the USDJPY staged a massive overnight reversal,falling from a high of ¥103.73 on Wednesday to as lowas 100.82 in early European trading hours today. In asell-off that is being credited to the weak Chineseprivate sector manufacturing report, the Nikkei 225plunged -7.32%, the single largest drop since October2008 – the beginning of the end for global equities.However, Japanese Economic Minister Akira Amarisaid that is normal for equity losses to boost thedomestic currency, and that the stock bubble hadn’tyet popped (I think a decline of this magnitude in onesession is a mini-bubble bursting); thus Yen lossesshould be insulated.Despite the single greatest drop in three years for theUSDJPY, the US Dollar overall remains resilient, withthe Dow Jones FXCM Dollar Index (Ticker: USDOLLAR)retaining some of yesterday’s gains, while holding itsground against the commodity currencies. A lot hasbeen said about the scope of Fed Chairman BenBernanke’s comments yesterday – that QE3 wouldremain in place until data improved, and if it did, thenthe scale of asset purchase could decline – but to me,it’s more of the same.TRADING TIPS BUY EURUSD ABOVE1.2905 TGT 1.2925/1.2945SL 1.2875 SELL USDJPY BELOW100.80 TGT 100.60/100.40SL 101.10 SELL GBPUSD BELOW1.5010 TGT 1.4990/1.4970SL 1.5140HEADLINES
  • 3.  HOURLY EURUSD CHARTHOURLY EURUSD CHARTANALYSISOPEN: 1.2842 EURUSD LOOKS UPWARDHIGH: 1.2904 TREND: BULLISHLOW: 1.2821 STRATEGY: BUY ON DIPSCLOSE: 1.2888 MACD =>-.0004(BULLISH SIGNAL)RSI => 57(BULLISH SIGNAL)
  • 4. HOURLY USDJPY CHARTANALYSISOPEN: 103.18 USDJPY LOOKS DOWNWARDHIGH: 103.57 TREND: BEARISHLOW: 100.83 STRATEGY: SELL ON RISECLOSE: 101.32 MACD =>.04(BEARISH SIGNAL)RSI => 35(BEARISH SIGNAL)
  • 5. www.epicresearch.co + 91 7316642300HOURLY GBPUSD CHARTANALYSISOPEN: 1.5034 GBPUSD LOOKS DOWNWARDHIGH: 1.5082 TREND: BEARISHLOW: 1.5014 STRATEGY: SELL ON RISECLOSE: 1.5078 MACD =>-.00013(BEARISH SIGNAL)RSI => 31(BEARISH SIGNAL)
  • 6. HOURLY EURGBP CHARTANALYSISOPEN: 00.8541 EURGBP LOOKS UPWARDHIGH: 00.8562 TREND: BULLISHLOW: 00.8532 STRATEGY: BUY ON DIPSCLOSE: 00.8548 MACD =>.00005(BULLISH SIGNAL)RSI => 58(BULLISH SIGNAL)
  • 7. www.epicresearch.co + 91 7316642300HOURLY USD INDEX CHARTANALYSISOPEN: 84.3660 USDINDEX LOOKS UPWARDHIGH: 84.4980 TREND: BULLISHLOW: 83.7890 STRATEGY: BUY ON DIPSCLOSE: 83.9160 MACD =>.0291(BULLISH SIGNAL)RSI => 45(BULLISH SIGNAL)
  • 8. Date Time Currency Event Importance Actual Forecast Previous NotesSunMay 1922:30NZD PerformanceServices Index (APR)Medium 56.1 55.623:01GBP Rightmove HousePrices (MoM) (MAY)Low 2.1% 2.1%23:01GBP Rightmove HousePrices (YoY) (MAY)Low 2.5% 0.4%MonMay 20JPY Cabinet OfficeMonthly EconomicReport for MayMedium04:00JPY TokyoCondominium Sales(YoY) (APR)Low -2.8% 48.4%05:00JPY Coincident Index(MAR F)Low 93.8 93.305:00JPY Leading Index(MAR F)Medium 97.9 97.605:30JPY NationwideDepartment StoreSales (YoY) (APR)Low -0.5% 3.9%05:30JPY Tokyo DepartmentStore Sales (YoY)(APR)Low 2.1% 6.4%06:00JPY Machine ToolOrders (YoY) (APR F)Medium -23.6% -24.1%07:00JPY ConvenienceStore Sales (YoY)(APR)Low -2.6% -0.4%12:30USD Chicago Fed NatActivity Index (APR)Medium -0.53 -0.2317:00USD Feds EvansSpeaks on Economy inChicagoLowTueMay 2100:00AUD Conference BoardLeading Index (MAR)Medium 0.1% 0.3%01:30AUD RBA PolicyMeeting - May MinutesHigh03:00NZD Reserve Bank ofNew Zealand 2-YearInflation Expectation(2Q)Medium 2.06% 2.17%03:00NZD Credit CardSpending s.a. (MoM)(APR)Medium 0.4% -0.3%03:00NZD Credit CardSpending (YoY) (APR)Medium 4.0% 3.6%ECONOMIC CALLENDER
  • 9. 04:30JPY All Industry ActivityIndex (MoM) (MAR)Medium -0.4% 0.6%05:00JPY SupermarketSales (YoY) (APR)Low 1.7%06:00EUR German ProducerPrices (MoM) (APR)Low -0.1% -0.2%06:00EUR German ProducerPrices (YoY) (APR)Low 0.1% 0.4%07:00CHF Money Supply M3(YoY) (APR)Low 9.9%08:30GBP Producer PriceIndex Input n.s.a.(MoM) (APR)Low -1.3% -0.1%08:30GBP Producer PriceIndex Input n.s.a. (YoY)(APR)Low 0.3% 0.4%08:30GBP Producer PriceIndex Output n.s.a.(MoM) (APR)Low 0.2% 0.3%08:30GBP Producer PriceIndex Output n.s.a.(YoY) (APR)Medium 1.4% 2.0%08:30GBP Producer PriceIndex Output Coren.s.a. (MoM) (APR)Low 0.3% 0.1%08:30GBP Producer PriceIndex Output Coren.s.a. (YoY) (APR)Medium 0.9% 1.3%08:30GBP DCLG UK HousePrices (YoY) (MAR)Low 2.0% 1.9%08:30GBP Consumer PriceIndex (MoM) (APR)Medium 0.4% 0.3%08:30GBP Consumer PriceIndex (YoY) (APR)High 2.6% 2.8%08:30GBP Core ConsumerPrice Index (YoY)(APR)High 2.3% 2.4%08:30GBP Retail Price Index(APR)Low 249.9 248.708:30GBP Retail Price Index(MoM) (APR)Low 0.5% 0.4%08:30GBP Retail Price Index(YoY) (APR)Low 3.1% 3.3%08:30GBP Retail Price IndexEx Mort Int.Payments(YoY) (APR)Low 3.0% 3.2%15:30USD Feds BullardSpeaks on MonetaryPolicy in FrankfurtLow17:00USD Feds DudleySpeaks in New YorkLow22:45NZD Net Migration s.a.(APR)Low 1220
  • 10. 23:50JPY MerchandiseTrade Balance Total(Yen) (APR)Medium -¥637.3B -¥362.4B23:50JPY AdjustedMerchandise TradeBalance (Yen) (APR)Low -¥605.8B -¥922.0B23:50JPY MerchandiseTrade Exports (YoY)(APR)Low 5.5 1.1WedMay 22JPY Bank of JapanRate Decision (MAY22)High 0.10% 0.10%JPY BOJ Kuroda PressConference After PolicyMeetingHigh00:30AUD WestpacConsumer Confidence(MAY)Medium -5.1%00:30AUD WestpacConsumer ConfidenceIndex (MAY)Low 104.901:00AUD DEWR InternetSkilled Vacancies(MoM) (APR)Low 0.1%04:00JPY Bank of JapanMonetary PolicyStatementMedium08:00EUR Euro-ZoneCurrent Account s.a.(euros) (MAR)Low 16.3B08:00EUR Euro-ZoneCurrent Account n.s.a.(euros) (MAR)Low 12.1B08:30GBP Bank of EnglandMinutesHigh08:30GBP Retail Sales(MoM) (APR)Low 0.1% -0.8%08:30GBP Retail Sales (YoY)(APR)Medium 1.8% 0.4%08:30GBP Retail Salesw/Auto Fuel (MoM)(APR)Low 0.1% -0.7%08:30GBP Retail Salesw/Auto Fuel (YoY)(APR)Medium 2.0% -0.5%08:30GBP Public Finances(PSNCR) (Pounds)(APR)Medium -4.0B 31.3B08:30GBP PSNB exInterventions (APR)Medium 8.5B 15.1B08:30GBP Public Sector NetBorrowing (Pounds)(APR)Medium 8.8B 16.7B10:00GBP CBI Trends TotalOrders (MAY)Low -17 -2510:00GBP CBI TrendsSelling Prices (MAY)Low 5 8
  • 11. 11:00USD MBA MortgageApplications (MAY 17)Low -7.3%12:30CAD Retail Sales(MoM) (MAR)Medium 0.2% 0.8%12:30CAD Retail Sales LessAutos (MoM) (MAR)Low 0.2% 0.7%14:00USD Feds BernankeTestifies on EconomicOutlookHigh14:00USD Existing HomeSales (APR)Low 4.99M 4.92M14:00USD Existing HomeSales (MoM) (APR)Medium 1.3% -0.6%14:30USD DOE U.S. CrudeOil Inventories (MAY17)Low -624K14:30USD DOE Cushing OKCrude Inventory (MAY17)Low 575K14:30USD DOE U.S.Gasoline Inventories(MAY 17)Low 2588K14:30USD DOE U.S.Distillate Inventory(MAY 17)Low 2300K18:00USD Fed ReleasesMinutes from Apr 30 -May 1 FOMC MeetingHigh23:50JPY MerchandiseTrade Imports (YoY)(APR)Low 6.9 5.523:50JPY Japan BuyingForeign Bonds (Yen)(MAY 17)Medium ¥186.4B23:50JPY Japan BuyingForeign Stocks (Yen)(MAY 17)Medium ¥19.2B23:50JPY Foreign BuyingJapan Bonds (Yen)(MAY 17)Low -¥413.5BThuMay 2301:00AUD ConsumerInflation Expectation(MAY)Medium 2.20%01:45LIVECNY HSBC FlashManufacturing PMI(MAY)Medium 50.4 50.405:00JPY Bank of JapansMonthly EconomicReport for May (Table)Medium07:00EUR FrenchPurchasing ManagerIndex Manufacturing(MAY P)Low 44.8 44.407:00EUR FrenchPurchasing ManagerIndex Services (MAYP)Low 44.5 44.3
  • 12. 07:30EUR GermanPurchasing ManagerIndex Manufacturing(MAY A)Medium 48.5 48.107:30EUR GermanPurchasing ManagerIndex Services (MAYA)Medium 50.0 49.608:00LIVEEUR Euro-ZonePurchasing ManagerIndex Manufacturing(MAY A)Medium 47.0 46.708:00LIVEEUR Euro-ZonePurchasing ManagerIndex Services (MAYA)Medium 47.2 47.008:00LIVEEUR Euro-ZonePurchasing ManagerIndex Composite (MAYA)Medium 47.2 46.908:30GBP Gross DomesticProduct (QoQ) (1Q P)High 0.3% 0.3%08:30GBP Gross DomesticProduct (YoY) (1Q P)High 0.6% 0.6%08:30GBP PrivateConsumption (1Q P)Low 0.3% 0.4%08:30GBP GovernmentSpending (1Q P)Low 0.2% 0.6%08:30GBP Gross FixedCapital Formation (1QP)Low 0.3% -0.2%08:30 GBP Exports (1Q P) Low -1.0% -1.6%08:30 GBP Imports (1Q P) Low -0.9% -1.0%08:30GBP Total BusinessInvestment (QoQ) (1QP)Low -0.8%08:30GBP Total BusinessInvestment (YoY) (1QP)Medium 0.8%08:30GBP Index of Services(MoM) (MAR)Low 0.1% 0.8%08:30GBP Index of Services(3Mo3M) (MAR)Low 0.6% 0.1%10:05USD Feds Bullard toSpeak on MonetaryPolicy in LondonLow12:30USD Initial JoblessClaims (MAY 18)Medium 346K 360K12:30USD Continuing Claims(MAY 17)Low 3000K 3009K12:58USD Markit US PMIPreliminary (MAY)Medium 52
  • 13. 13:00USD House Price Index(MoM) (MAR)Medium 0.80% 0.70%13:00USD House PricePurchase Index (QoQ)(1Q)Low 1.40%14:00EUR Euro-ZoneConsumer Confidence(MAY A)Medium -21.8 -22.314:00USD New Home Sales(APR)Low 425K 417K14:00USD New Home Sales(MoM) (APR)Medium 1.90% 1.50%14:30USD EIA Natural GasStorage Change (MAY17)Low 9915:00USD Kansas City FedManf. Activity (MAY)Low -5 -522:45NZD Trade Balance(New Zealand dollars)(APR)Medium 480M 718M22:45NZD Exports (NewZealand dollars) (APR)Low 4.06B 4.42B22:45NZD Imports (NewZealand dollars) (APR)Low 3.60B 3.70B23:50JPY Foreign BuyingJapan Stocks (Yen)(MAY 17)Low ¥878.8BFriMay 24EUR German GrossDomestic Product s.a.(QoQ) (1Q F)Medium 0.1% 0.1%01:35CNY MNI May FlashBusiness SentimentIndicatorLow02:55JPY Bank of JapanGovernor Kurodaspeech at NikkeiConferenceLow04:00USD Revisions: NewHome SalesLow06:00EUR German GrossDomestic Productw.d.a. (YoY) (1Q F)High -0.2% -0.2%06:00EUR German GrossDomestic Productn.s.a. (YoY) (1Q F)High -1.4% -1.4%06:00EUR German DomesticDemand (1Q)Low 0.1% 0.2%06:00EUR German Exports(1Q)Low -0.6% -2.0%06:00EUR German CapitalInvestment (1Q)Low -0.7% -0.7%06:00EUR GermanGovernment Spending(1Q)Low 0.3% 0.4%
  • 14. 06:00EUR GermanConstructionInvestment (1Q)Low -1.2% -0.1%06:00EUR German Imports(1Q)Low -0.9% -0.6%06:00EUR German PrivateConsumption (1Q)Low 0.3% 0.1%06:00EUR German GfKConsumer ConfidenceSurvey (JUN) (JUN)Medium 6.2 6.208:00EUR German IFO -Business Climate(MAY)Medium 104.4 104.408:00EUR German IFO -Current Assessment(MAY)Medium 107.2 107.208:00EUR German IFO -Expectations (MAY)Medium 101.6 101.608:30GBP BBA Loans forHouse Purchase (APR)Medium 32800 3122712:30LIVEUSD Durable GoodsOrders (APR)High 1.7% -5.7%12:30USD Durables ExTransportation (APR)Medium 0.5% -1.4%12:30USD Cap GoodsOrders Nondef Ex Air(APR)Low 0.5% 0.2%12:30USD Cap Goods ShipNondef Ex Air (APR)Low 0.3%22:45NZD Balance (YTD)(New Zealand dollars)(APR)Medium -380M -525M
  • 15. DisclaimerThe information and views in this report, our website & all the service we provide are believed to be reliable, but wedo not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/sthat suits them the most.Sincere efforts have been made to present the right investment perspective. The information contained herein isbased on analysis and up on sources that we consider reliable.This material is for personal information and based upon it & takes no responsibilityThe information given herein should be treated as only factor, while making investment decision. The report does notprovide individually tailor-made investment advice. Epic research recommends that investors independently evaluateparticular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic researchshall not be responsible for any transaction conducted based on the information given in this report, which is inviolation of rules and regulations of NSE and BSE.The share price projections shown are not necessarily indicative of future price performance. The information herein,together with all estimates and forecasts, can change without notice. Analyst or any person related to epic researchmight be holding positions in the stocks recommended. It is understood that anyone who is browsing through the sitehas done so at his free will and does not read any views expressed as a recommendation for which either the siteor its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptanceof this disclaimer.All Rights Reserved.Investment in equity & bullion market has its own risks.We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any lossincurred whatsoever for any financial profits or loss which may arise from the recommendations above epicresearch does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid OrUnpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or AnyInformation Provided by us to/with anyone which is received directly or indirectly by them. If found so then SeriousLegal Actions can be taken.www.epicresearch.co + 91 7316642300