2012-10-08 02:42 GMT
HSBC Services PMI at 54.3 signals improvement
According to Markit Economics, the HSBC Composite PMI (covering manufacturing and services PMI) signaled a renewed expansion in business activity at 54.3 in September, up from 52.0; below 50.0 signals contraction, while above signals industry expansion.
Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:“Service sector growth picked up in September thanks to rising new business flows. This is likely an indication of a gradual improvement of domestic economic conditions due to the earlier easing measures and the stronger consumption demand in the run-up to the Golden week holiday.”
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2012-10-08 07:15 GMT
Switzerland. Consumer Price Index
2012-10-08 10:00 GMT
Germany. Industrial Production
2012-10-08 21:45 GMT
New Zealand. Electronic Card Retail Sales
2012-10-08 23:45 GMT
Japan. Trade Balance - BOP Basis
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2012-10-08 04:44 GMT
EUR/USD weekly start below 1.30
2012-10-08 03:52 GMT
AUD/JPY again below 80 round
2012-10-08 03:25 GMT
EUR/JPY dive stalls around 102 round
2012-10-08 01:22 GMT
USD/JPY limited below 100 DMA
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SUMMARY
Up
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TREND
Upward
penetration
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MA10
Bearish
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MA20
Bearish
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STOCHASTIC
Oversold
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MARKET ANALYSIS - Intraday Analysis
Technical Summary: Currently EURUSD trades on the negative side and we expect further consolidation development later on today as main scenario. However medium term tendency remains positive.
Main scenario: Next upcoming support holds at 1.2968 (S1), break through here might take the pair towards to eventual targets located at 1.2942 (S2) and 1.2915 (S3) in potential.
Alternative scenario: Price level at 1.3013 (R1) is a next attractive point for the uptrend penetration. If a break occur here we suggest gradual targets to be placed at 1.3042 (R2) and 1.3070 (R3).
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SUMMARY
Up
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TREND
Downward
penetration
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MA10
Bearish
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MA20
Bearish
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STOCHASTIC
Oversold
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MARKET ANALYSIS - Intraday Analysis
Technical Summary: Instrument has settled negative bias on the hourly timeframe. We expect gradual decline towards to our support levels as main scenario today.
Main scenario: If the market manage to brake next support level at 1.6094 (S1), we might exposure of possible targets at 1.6075 (S2) and 1.6053 (S3) later on today.
Alternative scenario: Next resistance ahead is seen at 1.6131 (R1). Rising up above this level would suggest next targets at 1.6153 (R2) and 1.6174 (R3) in potential
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SUMMARY
Up
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TREND
Sideway
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MA10
Bearish
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MA20
Bullish
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STOCHASTIC
Oversold
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MARKET ANALYSIS - Intraday Analysis
Technical Summary: We are not expecting significant volatility increase today and current range mode condition might extend its power for the remaining of the day.
Main scenario: Measures of resistance might be activating when the pair approaches the 78.64 (R1), break here would suggest next target at 78.81 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 78.96 (R3).
Alternative scenario: Our next support level stay at 78.42 (S1). Loss here might drive market price towards to next targets at 78.26 (S2) and 78.10 (S3) in perspective.
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