Daily Report
Tuesday 22nd May 2012
ECONOMIC NEWS
Yesterdays Events
Euro-zone: Fears about the Greek exit from the Euro-zone and bad news about Spains financial system remained in focus yesterday The Spanish 10-yr bonds yielded above 6.26%, Italian 10-yr bonds yielded above 5.79% yesterday. German 10-yr Bunds are still yielding above 1.43%. The Euro saw a rally against the dollar yesterday but fell in the overnight session to 12784. We saw a bit of a rally yesterday in DJIA (12504.50), S&P500 (1315.99), FTSE100 (5394.45), DAX (6331.04), WTI (92.66), Gold (1588.9).
Todays Events
Date Time 05/22/2012 03:00 05/22/2012 08:00 05/22/2012 09:30 05/22/2012 09:30 05/22/2012 09:30 05/22/2012 09:30 05/22/2012 09:30 05/22/2012 09:30 05/22/2012 09:30 05/22/2012 09:30 05/22/2012 09:30 05/22/2012 09:30 Country CH SA UK UK UK UK UK UK UK UK UK UK Event Conference Board China April Leading Economic Index Leading Indicator DCLG UK House Prices (YoY) Public Finances (PSNCR) PSNB ex Interventions Public Sector Net Borrowing CPI (MoM) CPI (YoY) Core CPI YOY Retail Price Index RPI (MoM) RPI (YoY) RPI Ex Mort [Link] (YoY) EC OECD Economic Outlook (Table) Month Survey Actual Prior
MAR MAR APR APR APR APR APR APR APR APR APR
------------
------------
134.4 0.30% 16.5B 18.2B 15.9B 0.30% 3.50% 2.50% 240.8 0.40% 3.60%
05/22/2012 09:30
UK
APR
--
--
3.70%
05/22/2012 10:00
EC
05/22/2012 15:00
EC
Euro-Zone Consumer Confidence Richmond Fed Manufact. Index Existing Home Sales Existing Home Sales MoM
MAY A
--
--
-19.9
05/22/2012 15:00 05/22/2012 15:00 05/22/2012 15:00
US US US
MAY APR APR
-4.60M 2.70%
----
14 4.48M -2.60%
Bloomberg
Daily Report
Tuesday 22nd May 2012
TECHNICAL OVERVIEW
SP500
If we see a continuation to the upside then 1st target is the 1326.65 area. If we get a break to the down side then 1st target is the 1301.15 area.
Daily Pivot Points
R3 R2 R1 PP S1 S2 S3 1344.70 1330.20 1322.70 1308.20 1300.70 1286.20 1278.70
Daily Report
Tuesday 22nd May 2012
TECHNICAL OVERVIEW
EURUSD
We have seen somewhat of a pullback on the pair. If we see a continuation of this short term move to the upside then 1st target is the 1.2860 area. If we get a break below the 1.2770 area then the 1st target to the down side is a retest of the previous low at the 1.2640 area.
Daily Pivot Points
R3 R2 R1 PP S1 S2 S3 1.2948 1.2886 1.2849 1.2787 1.2750 1.2688 1.2651
Daily Report
Tuesday 22nd May 2012
TECHNICAL OVERVIEW
GBPUSD
GBPUSD forming a descending triangle targeting a strong support at towards a 1.57511. RSI below 50% also confirming low momentum.
Daily Pivot Points
R3 R2 R1 PP S1 S2 S3 1.59139 1.58770 1.58523 1.58154 1. 57907 1.57538 1.57291
Daily Report
Tuesday 22th May 2012
TECHNICAL OVERVIEW
USDJPY
Dollar yen look good to test 80 levels again with support of 79.20. Pair can test 78.35 levels after break of 79.20.
Daily Pivot Points
R3 R2 R1 PP S1 S2 S3 79.853 79.647 79.527 79.321 79.201 78.995 78.875
Daily Report
Tuesday 22nd May 2012
TECHNICAL OVERVIEW
USDCHF
With momentum increasing price divergence a move towards @0.94831 levels.
Daily Pivot Points
R3 R2 R1 PP S1 S2 S3 0.94886 0.94689 0.94183 0.93926 0.93480 0.93223 0.92777