Daily Markets Update

24 mars 2010 [DAILY MARKETS UPDATE]
Daily Markets Update
1 Daily Markets Update| SFM Finanz , S. Optyker, C. Guizelli +41.21.566.16.22 Mob: +41.79.202.19.58 & +41 79.673.64.61
Fundamental Outlook:
Europe agrees to include the IMF in A Greek bailout, EUR makes new lows!
Yesterday's US session saw some tight trading ranges for the EURUSD between 1.3561 - 1.3480 as existing home sales and the Richmond
Manufacturing index did not surprise the markets and came almost as expected. As the session went on San Francisco Fed President Yellen
made a speech and surprisingly her usual dovish posture was not reflected in her words. She actually said that although she is committed to
lower rates to stimulate the economy she does believe that it is appropriate to wait for full employment before boosting short term rates. The
USD subsequently strengthened following this and re priced a sooner than expected rate hike by the FOMC. 2 year yields yesterday traded
between 0.94% - 1.03% and the USDJPY traded from a low of 90.12 to a high of 90.65.
In Europe yesterday we had some dramatic developments regarding the Greek saga. In short Germany and France proposed a plan to help
Greece however the plan involves the International Monetary Fund. The proposal comes after Germany refused to bailout Greece with German
tax payer money which was at odds with Nicolas Sarkozy who was calling for an EU solution. The move was taken negatively by the markets as
it put in question Europe's solidarity in times of crisis. EURUSD price action was between 1.3561 - 1.3404.
In the UK the focus is on Alistair's Darling's budget, given the Fiscal stress faced by the UK as of late the budget is likely to be a key short term
driver for the currency. On the data front yesterday we had the UK CPI report for the month of February which slightly missed expectations
however analysts believe that the reading will not impact the UK's monetary policy as the headline inflation is expected to drop back below
2% soon. The markets are still looking for clues for further QE by the BoE. GBPUSD price action yesterday was between 1.4971 - 1.5384.
Today we have a busy financial calendar with PMI reports coming out of Germany and EU as a whole expected to slightly beat previous month's
readings. We also have industrial orders for Europe expected to grow by 2% for the month. In the US we have the Durable goods report for the
month expected to come in a 0.8% for February and also the new home sales expected to come in at 318K units for the month. Furthermore we
have the Crude Oil inventories expected to show an increase of 1.3mln barrels and FOMC Member Hoening will be speaking as also.
EURUSD
The Technical out look for the EUR/USD Wednesday, March 24th, 2010, level 1.3440
The current breach of the cluster point at 1.3433 confirms recent decline from 1.5145 top has resumed and indicated initial downside target at
1.3405 (61.8% Fibonacci retracement of entire rise from 1.2329 to 1.5145) and 123.6% EW projection of 1.5145 to1.4216 from 1.4579 at
1.3499 has been met and further weakness towards 1.3350 (61.8% projection of 1.3819 to 1.3463 measuring from 1.3570) is under way. If the
EUR/USD take more momentum to the downside we may go to 1.3242 (50% projection of 1.4580 to 1.3433 measuring from 1.3815) and on
clear of this level to the 61.8% projection of 1.4578 to 1.3443 from 1.3815 at 1.3111 or the 150.0% projection of 1.5143 to 1.4217 from
1.4578 at 1.3147. The RSI & the stochastic oscillators are in bear mode as well as all our indicators, confirming by the way the likely
continuation of the fall.
On the upside: In view of the above analysis, we are still looking to sell euro on recovery. Only above resistance at 1.3570 (yesterday's high
would signal a temporary low is possibly formed and risk rebound to 1.3630/40.
Furthermore in an Elliott Wave point of view and I kept my count, the bigger picture, outlook remains unchanged. The three wave rises from
1.2329 is treated as consolidation to fall from 1.6039 only and should have completed at 1.5143 already. Fall from 1.5143 is tentatively treated
as resumption of the whole down trend form 1.6039 and should target a new low below 1.2329. Otherwise, we'd expect fall 1.5143 to continue
even in case of strong rebound. Technically the EURO IS IN A BEAR TREND as far that 1.4217 is not broken up, with an intermediate target at
1.3400-1.3420 (slightly done by the move 1.3434) and my EW projection show a more likely target for this completed wave at 1.3111/47 with
an intermediate EW target at target 1.3343/48 (50% projection of 1.4580-1.3585 measuring from 1.3840 and 1.4415 to 1.3532 measuring
from 1.3789). Following my count we have ended wave 4 of III at 1.3815 and we are heading to the mentioned targets but we need to break
1.3445 to confirm this count.
In the long term picture, long term up trend from 2000 low of 0.8223 has made an important top at 1.6039 in 2008. Subsequent price actions
are so far viewed as a correction only, in form of three waves. First wave has completed at 1.2329 while secondly should have completed at
1.5143. Fall from 1.5143, as the third wave of correction, is in progress and should extend to 1.1639 supports, and possibly further to 100%
projection of 1.6039 to 1.2329 from 1.5143. Nevertheless, we'd expect strong support from 61.8% retracement of 0.8223 to 1.6039 at 1.1209
to conclude the correction and bring another long term up trend.
USD/CHF:
The technical outlook for USD/CHF Wednesday, March 24th, 2010, level 1.0681
The USD/CHF slipped to 1.0547 yesterday, as the currency pair found decent demand there and staged a strong rebound and the breach of the
short term trend indicator now at 1.0626(light blue line on the chart) signal that the recent fall from 1.0899 has possibly ended at 1.0506 and
bring stronger rebound to 1.0702 (50% Fibonacci retracement of 1.0899 to 1.0506) first and possibly to 1.0750 today. If we close over 1.0750
we may heading to the key resistance at 1.0809, on a breach of this last level will pave the way to 61.8% projection of 0.10131to 1.0898 from
1.0506 at 1.0911 next.
On the Downside: On the downside, only break of yesterday's low at 1.0547 would revive our bearishness for retest of 1.0506, below would
extend the fall from 1.0899 for a stronger retracement of early up move to 1.0424 (61.8% Fibonacci retracement of 1.0130 to 1.0899) later.
Furthermore in an Elliott wave point of view, the bigger picture, there is no change of my view: The medium term correction from 1.2296
should have completed with three waves down to 0.9916 already. Current rise from 0.9916 is tentatively treated as resumption of the long
term up trend from 2008 low of 0.9634. Sustained break of mentioned medium term trend line resistance (Green trend line on chart now at
1.0903) will further affirm this view. In such case, we'd be looking at stronger rise to 1.1963/2296 resistance zone in medium term. On the
downside, break of 1.0131 supports is needed to invalidate this bullish view. Otherwise, another rise is still expected even in case of deep
pullback.
EUR/CHF:
The technical outlook for EUR/CHF Wednesday, March 24th, 2010, level 1.4290
With the breached 1.4315 EW target we expect the current fall to continue with 1.4406 minor resistance intact. Sustained trading below key
support of 1.4315 will pave the way to 1.4 psychological level next. On the upside, break of 1.4406 will indicate that a short term bottom is in
place and stronger recovery could be seen to the short term trend indicator at now at 1.4505(light blue line on the chart) before resuming the
down trend.
Furthermore in an Elliott wave point of view, the long term picture, the current decline in EUR/CHF should be resuming larger term down
trend from 1.6827. Sustained trading below 1.4135 (2008 low) will confirm this case and should target 61.8% projection of 1.6368 to 1.4315
from 1.5138 at 1.3869 next. On the upside, break of 1.4557 spike resistance is needed to be first signal of bottoming. Otherwise, outlook will
remain bearish.
In the long term picture, fall from 1.6827 should be resuming whole down trend from 1993 high of 1.8234. We'd expect such down trend to
extend towards 100% projection of 1.8234 to 1.4391 from 1.6827 at 1.2984 in the longer run.
GBP/USD:
The technical outlook for GBP/USD Wednesday, March 24Th, 2010, level 1.4964
With some of our indicators showing a regain of momentum for the down side, the low at 1.4931 may be test today and the day bias has turned
bearish. Some consolidations could be seen but upside should be limited by the short term trend indicator now at 1.5154 (light blue line on the
chart) and bring fall resumption. As discussed before, choppy recovery from 1.4783 should have completed with three waves up to 1.5381
already. Further fall should be seen to retest 1.4783 low first. Break will confirm that whole decline from 1.6456 is resuming for 1.4364/37
next targets (200% projection of 1.6875 to 1.5829 from 1.6456 at 1.4364 or 61.8% projection from 1.6456 to 1.4783 from 1.5381 at 1.4337
and 76.4% retracement from 1.3500 to 1.6875 at 1.4337)
Furthermore in an Elliott wave point of view, the bigger picture, there is no change, we're holding on the bearish view that medium term
rebound from 1.3503, which is treated as a correction to down trend from 2.1161, has completed at 1.7043 already. Fall from there is
tentatively treated as resumption of the down trend from 2.1161 and should target a new low below 1.3503. On the upside, break of 1.5815
resistance is needed to invalidate this view. Otherwise, outlook will remain bearish. In the longer term picture, the corrective nature of the
multi-decade advance from 1.0463 (1985 low) to 2.1161 as well as the impulsive nature of the fall from there suggests that GBP/USD is now in
an early stage of a long term down trend. Rebound from 1.3503 should have completed and the whole fall from 2.1161 is likely resuming for
61.8% projection (2.1161 to 1.3503 from 1.7043) at 1.2310 next.
AUD/USD:
The technical outlook for AUD/USD Wednesday, March 24th 2010, level 0.9150
No Change: day bias in AUD/USD remains neutral as it's still bounded in range below 0.9250. Nevertheless, another rise is still mildly in favor
as long as the lower band of the ascending channel now at 0.9102 holds (green line on the chart). Above 0.9250 will bring further rise to retest
0.9404 high. Above 0.9295 will target a retest on 0.9404 high. However, sustained trading below the lower band of the ascending channel and a
break below 90.36 will argue that rise from 0.8577 might have completed and deeper fall should be seen towards 0.8802 support next.
Furthermore in an Elliott wave point of view, the bigger picture: the sustained trading above short term trend line (in light blue on chart now
at 0.9112) suggests that correction from 0.9404 has completed with three waves down to 0.8577. In other words, whole rally from 0.6008
might be set to resume for another high above 0.9404. If we treat the rise from 0.8577 as the fifth wave in the rise from 0.6008 with equal
length as the first wave from 0.6008 to 0.7267, upside target will be 0.9836, which is close to 2008 high of 0.9849. On the downside, break of
0.8802 supports is needed to be the first signal to revive the case that AUD/USD has already topped out. Otherwise, we'll remain cautiously
bullish in AUD/USD.
In the longer term picture, long term correction from 0.9849 has likely completed at 0.6008 already, after being supported slightly above
76.4% retracement of 0.4773 (01 low) to 0.9849 (08 high). Rise from 0.6008 is possibly developing into a new uptrend which will extend the
long term rise from 0.4773. We'll continue to favor the long term bullish case as long as 0.7702 cluster support holds and expect an eventual
break of 0.9849 high. However, a break of 0.7702 support will firstly argue that whole rise from 0.6008 has completed. Secondly this will open
up the case that AUD/USD is in phase of a long term consolidation and will gyrate in the large range of 0.6008/0.9849 for some time.
USD/JPY
The technical outlook for USD/JPY Wednesday, March 24th, 2010, level 91.10
As said previously that rise from 88.13 is still in favor to continue as long as 89.62 cluster support (50% retracement of 88.13 to 91.08 at
89.60) holds. With the breach of 91.08, but we need a close above this level, may bring rally resumption to 92.14 resistance next. However,
decisive break of 89.62 cluster support will indicate that rise from 88.13 is possibly finished and will flip the bias back to the downside for
retesting this low.
Furthermore in an Elliott wave point of view, the bigger picture, outlook is rather mixed and we'll stay neutral for the moment. On the upside,
break of 92.14 resistance will confirm that whole decline from 93.74 has completed with three waves down to 88.13 already. The corrective
structure will in turn indicate that rise from 84.81 is still in progress for another high above 93.74. On the downside, break of 88.13 will
reaffirm the bearish case that rise from 84.81 is completed at 93.74 already and will turn focus to 87.36 support for confirmation!
In the long term picture, downside momentum is clearly diminishing. However, there is no confirmation of long term reversal yet. Down trend
from 124.13 might still continue as long as 101.43 resistance holds and might extend further towards 79.75. Nevertheless, break of 101.43
resistance will break the lower high lower low pattern and will suggest that a long term bottom is in place. The trend should then reversed to
continue the sideway pattern that started at 79.75 in 1995
EUR/JPY
The technical outlook for EUR/JPY Wednesday, March 24th, 2010, level 121.86
No Change: With 122.62 minor resistance intact, the day bias in EUR/JPY remains on the downside and further decline is still in favor to retest
119.64 low first. As discussed before, choppy recovery from 119.64 should have completed at 125.19 already, after failing 125.22 cluster
resistance (38.2% retracement of 134.36 to 119.64 at 125.26). Break of 119.64 will confirm down trend resumption to 61.8% projection of
134.36 to 119.64 from 125.19 at 116.09 next. On the upside, above 122.62 minor resistance will delay the bearish case and turn intraday bias
neutral again. But after all, we'd continue to expect strong resistance at 125.22/26 to conclude the corrective rise from 119.64 and bring down
trend resumption.
Furthermore in an Elliott wave point of view, the bigger picture, there is no change in our bearish view. That is, medium term rebound from
112.10, which is treated as a correction to long term down trend from 2008 high of 169.96, should have completed at 139.21 already, after
multiple failure to sustain above 55 weeks EMA. Recent decline is expected to resume sooner or later to a new low below 112.10. However,
note that decisive break of 125.22 cluster resistance will argue that recent fall might have completed already. Further break of 126.88 support
turned resistance will argue that medium term rise from 112.10 might be still in progress for another high above 139.21 before completion.
In the long term picture, the uptrend from 88.96 (2000 low) was completed at 169.96 and made a long term top there. Fall from 169.96 should
develop into a three wave correction with first wave completed at 112.10, second wave completed at 139.21. Current fall is likely the third
wave and should extend beyond to 61.8% projection of 169.96 to 112.21 from 139.21 at 103.45 or further to 100 psychological support next.
GBP/JPY
The technical outlook for GBP/JPY Wednesday, March 24th, 2010, level 136.98
No Change: The GBP/JPY break the 136.19 minor support suggests that a low is in place at 134.53 and bias is turned neutral. Some recovery
might be seen but after all, upside is expected to be limited below 139.33 resistance and bring fall resumption. As discussed before, choppy
recovery from 132.13 should have completed at 139.33 already after hitting 139.21 cluster resistance (38.2% retracement of 150.68 to 132.13
at 139.21, 61.8% retracement of 143.59 to 132.13 at 139.21). Below 134.53 will turn bias back to the downside for 132.13 low first. Break
there will confirm down trend resumption and should target 61.8% projection of 150.68 to 132.13 from 139.33 at 127.86 next.
Furthermore in an Elliott wave point of view, the bigger picture; The medium term rebound from 118.18, which is correction to the long term
down trend from 07 high of 251.90, has completed at 163.05 already. Decline from 163.05 is tentatively treated as resumption of the long term
down trend from 2007 high of 251.09 and should target a new low below 118.81. On the upside, decisive break of 143.59 cluster resistance
(61.8% retracement of 150.68 to 132.13 at 143.59) is needed to invalidate this view.
USD/CAD
The technical outlook for USD/CAD Wednesday, March 24th, 2010, level 1.0187
No Change: The day bias in USD/CAD remains neutral for the moment and more consolidations could still be seen above 1.0062. However, note
that a break of 1.0369 resistance is needed to indicate that USD/CAD has bottomed. Otherwise, recent fall is still expected to continue. Below
1.0062 will target a test on 1.0 psychological level next.
Furthermore in an Elliott wave point of view, medium term decline from 1.3063 is still in progress. It's unclear whether such fall is resuming
the long term down trend from 1.6196 (2002 high) or it is a part of a consolidation pattern that started at 0.9056 (2007 low). In either case, fall
from 1.3063 is now expected to continue towards 100% projection of 1.3063 to 1.0784 from 1.1723 at 0.9444 next. On the upside, break of
1.0779 resistance is needed to be the first signal that fall from 1.3063 is finished. Otherwise, the Outlook for the USD/CAD remains bearish and
we will stay bearish as long as 1.0779 resistances held.
GOLD
The technical outlook for GOLD: Wednesday, March 24th, 2010, level 1096.9
Outlook in gold remains neutral to mildly bearish for the moment with main question on whether rise from 1044.5 is complete. Gold
rebounded further to as high as 1133.3 last week but subsequent sharp fall dampened the bullish view by trading again under the lower band
of the ascending channel now at 1133.80 (green line on the chart)and mixed up the outlook. We'll stay neutral for the moment and wait for
confirmation on whether rise from 1044.5 is finished. On the downside the current breach of 1097.3 (neck line of a Head and shoulders
pattern) that need to be confirm by a close under this level, will complete a head and shoulders top reversal pattern (LS: 1131.5, H: 1145.8, RS:
1133.3) and will suggest that rise from 1044.5 is completed. This will also argue that whole correction from 1227.5 is still in progress. In such
case, deeper fall should be seen to retest 1048.8 first, the target of the head and shoulders pattern. On the upside, above 1133.8 will suggest
that rise from 1044.5 is still in progress. Break of 1145.8 will target a test on 1163 resistance first.
Furthermore in an Elliott wave point of view, the bigger picture, price actions from 1227.5 are treated as correction to rise from 931.3 only, no
doubt. Question is on whether such correction is finished. As long as 1097.3 support holds, we'd favor the bullish case that correction from
1227.5 is completed and rise from 1044.5 is resuming larger up trend to another high above 1227.5. On the downside, however, break of
1097.3 will shift favor to the case that correction from 1227.5 is not completed and fall from 1145.8 would be developing into the third wave of
such correction for another low below 1044.5 perhaps to 1026 before longer term up trend resumption.
CrudeOIL
The technical outlook for OIL Wednesday, March 24th, 2010, level 80.79
Crude oil is perhaps forming a triangle pattern and the consolidation is not over. On the upside, a close above 80.94 minor resistance will flip
the bias back to the upside. Further break of 83.16 will target 83.95 high. However, note that sustained trading below 77.94 Fibonacci level
will argue that rise from 69.50 is completed and deeper fall would possibly be seen to retest this support.
Furthermore in an Elliott wave point of view, in the bigger picture, crude oil is still trading well inside medium term rising channel and the rise
from 33.2 might still be in progress. Nevertheless, as such rise from 33.2 is treated as a correction to whole decline from 147.27 only, even in
case of another high above 83.95, we'd continue to expect strong resistance near to 50% retracement of 147.27 to 33.2 at 90.24 to bring
reversal. On the downside, though, break of 69.50 support will now indicate that crude oil has topped out in medium term already and turn
outlook bearish.
DOW JONES INDU. Future June 2010
The technical outlook for DJI: Tuesday, March 23Rd, 2010, level 10812.9
The chart pattern still shows a real bullish outlook for the DOW and with the regain of upside momentum. We have met our EW target at
10814.4 yesterday (10828.9 high) and close above this level. We must monitor carefully the market behavior now; if we close over this level
today we may head to 10913 first. On the downside it’s possible that we top at this level and a consolidation to 10689 is possible. As far
10624hold now, I remain bullish for the DOW but with a stop now below 10620.
Furthermore in an Elliott wave point of view, the count suggests that the bear market ended in Mar 09. The anticipated 50% retracement rally
was actually the start of a new 70-80 year super cycle bull market. The three waves up, thus far, are only Major waves 1-2-3 of Primary wave I
of Cycle wave I of this bull market. Should the current downtrend conclude with alternation with the Jun/July downtrend, and hold the 10%
correction, it will be labeled Major wave 4 with up Major wave 5 to follow. The most obvious count would be an abc down from the highs into
DOW 9789.9 and an X or a B wave rally underway now, because we may count 3 waves up for now. But with the break up10723: the move from
10258.9 to 9789.9 is perhaps wave 4 of I and the current wave is wave 5 of I. But as said previously we count only 3 waves up on this rally and
we need a correction that perhaps ended yesterday for wave 4 of 5 of I. After the completion of this correction, another rally will follow to end
this wave structure, with a first target at 10814. Remember that this Wave I is the the start of a super bullish super cycle of 50-70 years and
will be followed by a wave II in correction that may be profound.
Economic Calendar
Wednesday, Mar 24, 2010
GMT Ccy Events Consensus Previous

00:00 AUD DEWR Skilled Vacancies M/M Mar -- 1.6%
08:00 EUR French PMI Manufacturing Mar A 54.5 54.9
08:00 EUR French PMI Services Mar A 54.8 54.6
08:30 EUR German PMI Manufacturing Mar A 56.8 57.2
08:30 EUR German PMI Services Mar A 52.0 51.9
08:30 EUR Italian Consumer Confidence Index s.a. Mar 107.7 107.7
09:00 EUR Italian Unemployment Rate s.a. Q4 8.3% 7.8%
09:00 EUR Eurozone PMI Services Mar A 52.0 51.8
09:00 EUR Eurozone PMI Manufacturing Mar A 54.0 54.2
09:00 EUR Eurozone PMI Composite Mar A 53.7 53.7
10:00 EUR Eurozone Industrial New Orders s.a. M/M Jan 2.0% 0.8%
10:00 EUR Eurozone Industrial New Orders Y/Y Jan 14.4% 9.5%
09:00 EUR German IFO - Business Climate Mar 95.8 95.2
09:00 EUR German IFO - Expectations Mar 101 100.9
09:00 EUR German IFO - Current Assessment Mar 91.0 89.8
11:00 USD MBA Mortgage Applications (MAR 19) -- -1.9%
12:30 GBP U.K. Treasury Publishes 2011 Budget Report -- --
12:30 USD Durable Goods Orders Feb 0.6% 3.0%
12:30 USD Durables Ex Transportation Feb 0.5% -0.6%
14:00 USD New Home Sales M/M Feb 1.9% -11.2%
14:00 USD New Home Sales Feb 315K 309K
14:30 USD DOE U.S. Crude Oil Inventories (MAR 19) -- 1012K
14:30 USD DOE U.S. Gasoline Inventories (MAR 19) -- -1710K
14:30 USD DOE U.S. Distillate Inventory (MAR 19) -- -1491K
14:45 USD Fed's Thomas Hoenig Speaks in Washington D.C. -- --
17:00 EUR French Total Jobseekers Change Feb -- 19.5
17:00 EUR French Total Jobseekers Feb -- 2664.6
21:45 NZD GDP Q/Q Q4 0.8% 0.2%
21:45 NZD GDP Y/Y Q4 0.4% -1.3%
23:40 AUD RBA's Philip Lowe Speaks in Sydney Australia -- --
23:50 JPY Corporate Service Price Y/Y Feb -1.2% -1.0%
Thursday, Mar 25, 2010

-- EUR European Union Summit -- --
00:00 USD Fed's Donald Kohn Speaks in Davidson North Carolina -- --
00:30 AUD RBA Semi-Annnual Financial Stability Review -- --
01:30 JPY BoJ's Hidetoshi Kamezaki Speaks in Kochi City Japan -- --
07:00 EUR German GfK Consumer Confidence Survey (APR) 3.1 3.2
07:45 EUR French Consumer Spending M/M Feb 0.0% -2.7%
07:45 EUR French Consumer Spending Y/Y Feb 2.9% 1.5%
08:30 EUR Italian Business Confidence Mar 84.4 84.0
09:00 EUR Italian Retail Sales s.a. M/M Jan 0.1% 0.0%
09:00 EUR Italian Retail Sales Y/Y Jan 0.7%
09:00 EUR Eurozone M3 s.a. (3M) Feb -0.1% -0.1%
09:00 EUR Eurozone M3 s.a. Y/Y Feb -0.1% 0.1%
09:30 GBP Retail Sales ex Auto Fuel M/M Feb 0.5% -1.2%
09:30 GBP Retail Sales ex Auto Fuel Y/Y Feb 4.9% 2.6%
09:30 GBP Retail Sales inc Auto Fuel M/M Feb 0.8% -1.8%
09:30 GBP Retail Sales inc Auto Fuel Y/Y Feb 3.3% 0.9%
12:30 USD Initial Jobless Claims (MAR 20) 450K 457K
12:30 USD Continuing Claims (MAR 13) 4560K 4579K
13:00 USD RPX Composite 28 Day Y/Y Jan -- -1.1%
13:00 USD RPX Composite 28 Day Index (JAN 21) -- 193.91
13:10 USD Fed's Sandra Pianalto Speaks in Bonita Springs Florida -- --
14:00 USD Fed's Bernanke Testifies House Financial Services Committee -- --
21:45 NZD Trade Balance (NZD) Feb -- 269M
21:45 NZD Trade Balance (YTD) (NZD) Feb -- -178M
21:45 NZD Imports (NZD) Feb -- 2.88B
21:45 NZD Exports (NZD) Feb -- 3.15B
22:15 AUD RBA Governor Glenn Stevens Speaks in Sydney Australia -- --
23:00 AUD Conference Board Leading Index Jan -- 0.6%
23:30 JPY Tokyo CPI Y/Y Mar -1.7% -1.8%
23:30 JPY Tokyo CPI Ex-Fresh Food Y/Y Mar -1.7% -1.8%
23:30 JPY Tokyo CPI Ex Food Energy Y/Y Mar -1.2% -1.3%
23:30 JPY National CPI Y/Y Feb -1.1% -1.3%
23:30 JPY National CPI Ex-Fresh Food Y/Y Feb -1.2% -1.3%
23:30 JPY National CPI Ex Food Energy Y/Y Feb -1.1% -1.2%
Friday, Mar 26, 2010

-- EUR European Union Summit -- --
07:45 EUR French Consumer Confidence Indicator Mar -33 -33
09:30 GBP Total Business Investment Q/Q Q4 F -5.8% -5.8%
09:30 GBP Total Business Investment Y/Y Q4 F -24.1% -24.1%
10:30 CHF KOF Institute Economic Forecst Mar -- --
12:30 USD GDP (Annualized) Q4 F 5.9% 5.9%
12:30 USD Personal Consumption Q4 F 1.7% 1.7%
12:30 USD Core PCE Q/Q Q4 F 1.6% 1.6%
12:30 USD GDP Price Index Q4 F 0.4% 0.4%
13:55 USD U. of Michigan Confidence Mar F 73.0 72.5
15:30 USD Fed's Kevin Warsh Speaks in New York City -- --
20:00 USD Fed's Bullard ECB's Papademos Speak in Washington D.C -- --
22:00 USD Fed's Daniel Tarullo Speaks in Washington D.C. -- --
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24 mars 2010 [DAILY MARKETS UPDATE]

Daily Markets Update

DOW JONES INDU. Future June 2010

Wednesday, Mar 24, 2010

GMT Ccy Events Consensus Previous

Thursday, Mar 25, 2010

GMT Ccy Events Consensus Previous

Friday, Mar 26, 2010

GMT Ccy Events Consensus Previous

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