
AFB
Arab Financial Brokers ( AFB ) http://www.afb.com.kw/en/pages/50-BONUS.html
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Friday, April 26, 2013
ECONOMIC INDICATORS CALENDAR (daily)
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Local Time |
Country |
Indicator |
previous |
Forecasting |
Impact |
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9.00AM |
E.Z |
German Import Prices m/m |
0.3% |
0.0% |
L |
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9.00AM |
E.Z |
German Retail Sales m/m |
0.4% |
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M |
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10.00AM |
CHF |
KOF Economic Barometer |
0.99 |
0.97 |
H |
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11.00AM |
E.Z |
Private Loans y/y |
-0.9% |
-0.8% |
L |
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11.00AM |
E.Z |
M3 Money Supply y/y |
3.1% |
3.0% |
M |
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3.30pm |
U.S |
GDP q/q |
0.4% |
3.0% |
H |
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3.30pm |
U.S |
GDP Price Index q/q |
1.0% |
1.4% |
M |
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4.55pm |
U.S |
Revised UOM Inflation Expectations |
3.2% |
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L |
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4.55pm |
U.S |
Revised UOM Consumer Sentiment |
78.6 |
74.3 |
M |
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EURUSD |
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Pair could hold above the key support levels at 1.2970 on the time frame for this week's trading and steady trading above those levels we expect to see a continuation of the bullish intraday trend note that any breaking of level 1.2930 it will cancel the positive outlook
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Current price: 1.3033 We recommend long above 1.2970 take profit 1.3100 stop loss at 1.2930 Additional Advice: Alternative scenario Short below * 4 hour closing below * 1.2930 it will carry us for the first downside target 1.2900 & 1.2870
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GBPUSD |
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Sterling succeeded in achieving the expected bullish weekly direction and that by price stability above 1.5180, the highest price 1.5470, approaching the first weekly goal and today steadily trading next four -hours above 1.5370 we expect the continuation of upside daily trend unless breaking of level 1.5330 and any trade below 1.5190 it will open the way for further decline Daily Trend upside |
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Current price: 1.5430 We recommend long above 1.5370 take profit 1.5540 stop loss at 1.5330 Additional Advice: Alternative scenario Short below * 4 hours closing below * 1.5320 it will carry us for first downside target 1.5260 & 1.5220
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AUDUSD |
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Australian dollar fell slightly falling our positive outlook We expect next four – hours any trade above 1,0270 and above the psychological barrier of 1.0200 and generally above 1.0170 upside correction to retest 1.0370
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Current price: 1.0292 We recommend long above 1.0270 take profit 1.0370 stop loss at 1.0230 Additional Advice: Alternative scenario Short below *4 hours closing below * 1.0230 it will carry us for first downside target 1.0200 & 1.0170
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UsdJPY |
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we expect any stability below 99.60 it's a negative daily outlook, the pair entered overbought level , we expect further decline , and any breaking of level 88.10 it will be the first sing for very strong bearish trend |
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Downisde Prevails |
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Current price: 98.62 We recommend short below 99.20 take profit 98.20 stop loss at 99.60 Additional Advice: Alternative scenario long above *4 hours closing above * 99.60 it will carry us for first upside target 99.90 &mmp; 100.30
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USDCAD |
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Flat range trading for the Canadian dollar after touching 1.0292 levels .Today we expect an downside trend and the steady price below 1.0240-1.0230 targeting 1.0140 and generally any above 1.0290 its negative |
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Current price: 1.0205 We recommend short below 1.0240 take profit 1.0140 loss at 1.0280 Additional Advice: Alternative scenario Long above * 4 hour closing above * 1.0255 it will carry us for the first upside target 1.0290 & 1.0320
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USDCHF |
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Swiss franc hit our entry short point referred, recording its highest price 0.9484 and today the pair now entered overbought level . we expecting next four hours slightly decline to re - test 0.9360 unless breaking level of 0.9500 |
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Current price: 0.9436 We recommend short below 0.9460 take profit 0.9360 stop loss at 0.9500 Additional Advice: Alternative scenario9250 Long above 0.9500 it will carry us for the first upside target 0.9530 & 0.9560
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XAUUSD |
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We believe today that any trade below 1480 its negative daily trend . And by stability below this level we expect slightly downside correction to re- test again 1440 unless breaking of level 1495 it will open the way for further upside |
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Crude Oil |
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U.S. crude rose yesterday touched 93.86, we expect the next four hours of steady price below 93.50 slightly downside correction with target 92.50
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EURJPY |
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Next four – hours we expect slightly decline to resume the upside daily trend again and any price stabilize below 129.30 its negative outlook targeting re-test 128.00 unless breaking level of 129.70 |
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Downside Prevails |
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Current price: 128.60 We recommend short below 129.30 take profit 128.00 stop loss at 129.70 Additional Advice: Alternative scenario Long above 129.70 it will open the way to first upside target 130.00 & 130.50
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GBPJPY |
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The pair entered overbought level and by price stability below 153.00 we expect slightly decline next four – hours to resume the general up trend and by price stability next four - hours below 153.00 and bigger picture below 153.60 we expect downside targeting 151,30 unless breaking of level 153.60 |
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Dow jones |
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Dow Jones Industrial jumps last session boosted by some positive economic factors today by price stability above 14580 we expect further upside targeting 14680 |
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Notice: investment instrument, to effect any transactions, or to conclude any legal act of any kind whatsoever. Published information and opinions are provided Arab brokerage firms for personal use or for informational purposes only and are subject to change without prior notice. Arab brokerage firms do not represent (either express or implied) that the information and opinions expressed are accurate, complete or current. Nothing contained constitutes financial, legal advice, tax or other, nor should any investment or any other decisions based solely on the content. You should get advice from a qualified expert before making any investment decision. The opinion is based on sources that Arab brokerage firms them trustworthy, but they have no guarantees that this is the case. Therefore, while it is making every possible effort to ensure that the content is accurate and complete, AFB and does not provide any such claim.
Daily Market Brief by AFC Friday the 26th of April 2013
Markets Buoyed by US Job Data, Geopolitical Tensions in Syria
Financial markets climbed higher with encouraging US jobless claims data. Wall Street gained with the DJIA and the S&P 500 indices rising +0.17% and +0.40% respectively. In the commodity sector, crude oil prices firmed as driven by the stock markets. The front-month contract for WTI crude oil jumped +2.42% to finished the day at 93.64 while the Brent crude contract soared +1.65% to settle at 103.41. The rise was also driven by a report on Syrian weapons. Gold climbed for a second consecutive day with the benchmark Comex contract gaining +2.69%.
The US said they for the first time have got evidence that Syria has used chemical weapons. While there was no full agreement on the issue, the US government condemned that the deed “violates every convention of warfare”. This raised concerns that the US would intervene more severely in the Syria civil war. Crude and gold usually gain on escalated geopolitical tensions…
EUR/USD Daily Outlook
Daily Pivots: (S1) 1.2968; (P) 1.3031 (R1) 1.3073;
Intraday bias in EUR/USD remains neutral for the moment. The question is still on whether rebound from 1.2746 has finished at 1.3201. Below 1.2954 will reaffirm this case and target retest on 1.2746. But above 1.3128 minor resistance will turn focus back to 1.3201 instead.
In the bigger picture, current development mixed up the outlook in EUR/USD with major question on whether rebound from 1.2042 has completed at 1.3710…
USD/JPY Daily Outlook
Daily Pivots: (S1) 98.95; (P) 99.25; (R1) 99.53;
The break of 98.48 minor support suggests that rebound form 95.78 is possibly completed. Intraday bias is back on the downside as consolidation from 99.94 extends with another falling leg. But downside should be contained by 95.74 and bring rebound. Eventually, rise from 77.13 is expected to resume later and break of 100 psychological level to 161.8% projection of 77.13 to 96.70 from 92.56 at 104.65.
In the bigger picture, whole decline from 124.13 should have already completed at 75.56. Stronger medium term rally could be seen back towards 101.65 key support turned resistance level…
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