Analysis by : Christian Tegllund Blaabjerg
Market Strategist
Tuesday, Mar 16, 2010, 07:35
Looking Towards FOMC Meeting Tonight
All eyes on the FOMC decision and statement in the US session especially on the QE program. Indications points towards a tight Fed liquidity lately, showing strong demand for funds at current rates.
Calendar
|
Economic Data Releases |
|
|
Country |
Time (GMT) |
Name |
Saxo |
Consensus |
Prior |
|
EC |
10:00 |
CPI / CPI Core YoY (FEB) |
0.9% / 0.8% |
0.9% / 0.8% |
0.9% / 0.9% |
|
GE |
10:00 |
ZEW Survey: Sentim./Current Situa. (MAR) |
|
43.5 / -52.0 |
45.1 / -54.8 |
|
US |
12:30 |
Housing Starts/Building Permits MoM (FEB) |
|
-3.6% / -3.4% |
2.8% / -4.7% |
What's going on?
· Chris Dodd’s bill to regulate the financial sector focuses at enabling the FSA to break up large firms, banning prop trading and oversee hedge funds and derivatives. “Gold Morgan Stanley” is most likely to get hit by new regulation. Financials followed general movements in the market today, but we expect the biggest names to underperform vs. the DJ Financials Index.
· Today is the deadline for Greece to publish a comprehensive plan for cutting the budget deficit towards 2013. CDS price still around 294 bps.
· All eyes on the FOMC decision (18:15 GMT) and statement in the US session – and especially on the QE program. Some indications of tight Fed liquidity lately, which shows strong demand for funds at current rates.
FX
|
FX |
Daily stance |
Comment |
|
EURUSD |
0/+ |
Buy at the break of 1.3700 targeting 1.3737. S/L below 1.3685. |
|
USDJPY |
0/+ |
Buy at the break of 90.29 and 90.52. Stop below 90.18. |
|
EURJPY |
0/+ |
Buy around 123.35 targeting 123.47. S/L below 123.12 |
|
GBPUSD |
0/- |
Sell on rallies towards 1.5065 and target 1.5010. Stop above 1.5082. |
|
AUDUSD |
0/+ |
Buy at the break of 0.9160 and target 0.9178. Stop below 0.9149. |
Equities
|
Equities |
Daily stance |
Comment |
|
DAX |
0/+ |
Buy on dips towards 5900 targeting 5927. S/L below 5888. |
|
FTSE |
0/+ |
Buy on dips towards 5595 targeting 5617. S/L below 5583. |
|
S&P500 |
0/+ |
Buy on dips towards 1143 targeting 1150. S/L below 1140. |
|
NASDAQ100 |
0/+ |
|
|
DJIA |
0/+ |
|
|
Commodities |
Daily Stance |
Comment |
|
Gold |
+ |
Buy at the break of 1115 targeting 1123. S/L below 1110.
|
|
Silver |
0/+ |
Buy at the break of 17.35 targeting 17.46. S/L below 17.27 |
|
Oil (CLJ0) |
0/- |
Sell at the break of 79 targeting 78.24. S/L above 79.50. |