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Update Time: 03 Feb 2012 19:38GMT

INTRA-DAY EUR/JPY OUTLOOK - +100.80+

Euro's current rebound fm 100.28 suggests intra-
day pullback fm 100.89 has indeed ended earlier at
100.16 n consolidation with upside bias remains,
abv said res wud signal nr term rise fm Wed's low
of 99.25 has resumed, 101.00/10 later.

Trade fm long side with stop now as indicated,
below prolongs choppy trading but 100.16 shud hold.

Rate: +100.80+
Strategy: +Target met+
Position: Long at 100.30
Objective: 100.80
Stop-Loss:
Resistance: 100.89/101.45/102.21
Support: 100.16/ 99.97 / 99.63
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Daily Market Outlook

Update Time: 03 Feb 2012 08:55 GMT

EUR/USD - 1.3149

Euro's volatile movement this week after strong retreat from last Friday's six-week high at 1.3235 to 1.3026 indicated choppy trading would be seen after the announcement of non-farm payrolls, above 1.3197 would signal recent upmove from January's low at 1.2624 has resumed and extend gain towards 1.3282 but reckon 1.3330/35 should cap upside.  
  
On the downside, below 1.3086 would yield weakness towards 1.3026, a breach of this support level would bring stronger retracement to 1.3002.
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Market Review on 03 Feb 2012 21:36 GMT

The greenback strengthens after strong US jobs data

The greenback rose strongly against the yen and other European currencies on Friday as report of a larger-than-expected gain in U.S. jobs dampened speculation that the Federal Reserve will add another round of quantitative easing to spur growth. 
 
U.S. non-farm payrolls in January rose 243K, much higher than street forecast of 150K and 200K in previous month, private payrolls were also better-than-expected at 250K versus expectation of 170K while unemployment dropped to the lowest level since February 2009 to 8.3%. 
 
Earlier in the day, although  ...
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DAILY TECHNICAL OUTLOOK ON USD/CHF

All times in GMT    
Last Update At 03/02/2012 01:01 GMT
Trend Daily Chart Daily Indicators 21 HR EMA 55 HR EMA
Down Falling 0.9168 0.9169
Trend Hourly Chart Hourly Indicators 13 HR RSI 14 HR DMI
Sideways Neutral 56 +ve
Daily Analysis
Consolidation with mild upside bias
Resistance Support
0.9306 - Jan 20 low
0.9250 - Wed's high
0.9207 - Y'day's high
0.9114 - Mon's low
0.9067 - Nov 30 low
0.9000 - Equality measure. of 0.9575-0.9235 fm 0.9340
.      USD/CHF - 0.9180... The greenback also fluctuated wildly y'day due to the 
intra-day roller-coaster movements in eur/usd. Despite initial weakness to 
0.9131 in early Asian trading, weakness in euro lifted price to 0.9184 b4 coming 
off briefly but sharply to 0.9139 on euro-supportive comments by Chinese premier 
Wen, dlr later rallied to a session high at 0.9207 on renewed euro's weakness 
but only to tank to 0.9136 due to Fed President Bernanke's dovish statements.
.      Looking at the daily chart, despite the volatile price action fm Monday's 
near 2-month low at 0.9114 (NZ), unless dlr can close abv 0.9250 (reaction high)
, then recent decline fm Jan's top at 0.9594 shud head twd daily chart obj. at 
0.9067, break there wud bring stronger retracement to 0.8875, being a 'minimum' 
38.2% r of the MT intermediate rise fm 0.7711-0.9594. A rise abv 0.9250 wud con- 
firm aforesaid fall fm 0.9594 has made a temp. low, then gain to 0.9291 (38% r  
of 0.9575-0.9114) is expected, however, reckon 0.9340/45 shud cap dlr's upside.
.      Today, range trading is in store ahead of release of U.S. NFP n as long 
as 0.9136/39 holds, upside bias remains. Abv 0.9207 wud extend twd 0.9240/50.

Click on the chart to enlarge image

charts offered by ProRealTime.com
 
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Market Moving News

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All times in GMT    
3 Feb 2012 12:43 USD/MAJ - U.S. non-farm payrolls rose to 243K from 203K previously revised and better-than-expected 150K; U.S. private payrolls rose to 257k from 220K previously revised and better-than-expected 170K; U.S. unemployment rate m/m came in at 8.3% better-than-forecast and previous figure of 8.5%.
3 Feb 2012 12:32 USD/CAD - 1.0016. Canadian Jan unemployment rate is reported at 7.6%, higher than a forecast and previous reading of 7.5%.
3 Feb 2012 11:45 EUR/USD - 1.3162 ... EU sources said eurozone governments may have to provide up to 145 bln euros to Greece under second assistance package. The extra funds are mainly needed to recapitalise Greek banking sector after private sector debt restructuring. 
 
The single currency retreated fm intra-day high of 1.3186 after the news, however, trading is relatively thin ahead of the release of the important U.S. jobs report. Some offers are tipped at 1.3180/85 n further out at 1.3195 with stops seen abv 1.3200 n 1.3220. On the downside, bids are located at 1.3125/30 n 1.3090/00.
3 Feb 2012 10:43 EUR/USD - 1.3180.. Euro is making broad-based gain in Europe after initial pullback fm 1.3156 to 1.3125, lack of follow-through selling prompted short-covering. A wave of buying reported out of the Middle East helped the single ccy to ratchet higher n price is currently making an attempt to aborb heavy offers at 1.3185/95 region, a break there wud bode well for further headway abv 1.3200 where more selling interest is tipped at 1.3210/20. 
 
The fact that euro is heading higher b4 NFP, this suggests market is loading up the pair in anticipation of a weak number perhaps ?
3 Feb 2012 10:02 EUR/USD - 1.3170. EU retail sales m/m came in worse-than-expected at -0.4% compared with 0.3% expected and -0.4% prior month revised; EU retail sales y/y came in worse-than-expected at -1.6% compared with -1.3% expected and -1.5% prior month revised.
3 Feb 2012 09:37 GBP/USD - 1.5846.. Cable rises in London trading as release of stronger-than-expected UK services PMI at 56.0 vs estimate of 53.5 prompted renewed broad-based buying of sterling. 
 
A mixture of offers n stops is seen near 1.5860 where a firm break there wud send the pound back twd Wed's high at 1.5884. Bids have been raised to 1.5830-20, suggesting buying cable is the way to go ahead of NY open.
 

ECONOMIC INDICATORS FOR 06/02/2012

All times in GMT    
Time Country Indicator Actual Forecast Range Previous Revised
0001 U.K. Lloyds employment confi. - Jan N/A N/A -75
0030 Australia Retail sales M/M Dec 0.2% -0.2/0.5 0.0%
0030 Australia Retail sales ex. infaltion Q4 0.6% -0.1/1.3 0.6%
0800 U.K. Halifax hse prices M/M Jan *0.1%* *-0.2/0.4* -0.9%
0800 U.K. Halifax hse prices 3m Y/Y Jan *-2.1%* *-2.2/-1.8* -1.3%
U.K. *To be released on 6-8 Feb N/A N/A
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