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TRADING IDEAS FOR THE AFTERNOON US SESSION

NIKKEI 225 VS TOSHIBA 93.686 02:30 23.02
MAZDA VS TOSHIBA 7.847 02:30 23.02
NIKKEI VS SUMITOMO MITSUI 4.325 02:30 23.02
NZD/USD 0.71846 02:30 23.02
NZD/JPY 81.379 02:30 23.02
AUD/USD 0.76764 02:30 23.02
AUD/JPY 86.949 02:30 23.02
TENCENT HOLDINGS 214.700 02:30 23.02
SSE180 VS CSI300 2.1859 02:30 23.02
AUD/CAD 1.01035 02:30 23.02
TAIEX 9797.6 02:30 23.02
SSE180 7598.730 02:30 23.02
CSI 300 3476.262 02:30 23.02
SHANGHAI COMPOSITE 3250.382 02:30 23.02
EUR/JPY 119.533 02:30 23.02
EUR/USD 1.05530 02:30 23.02
HANG SENG F-JAN17 24073.000 02:30 23.02
TOPIX 100 992.810 02:30 23.02
NIKKEI 225 19313.290 02:30 23.02
HANG SENG 24089.300 02:30 23.02
ASX F-MAR17 5758.500 02:30 23.02
USD/JPY 113.269 02:30 23.02
USD/SGD 1.41603 02:30 23.02
ASX 5791.100 02:30 23.02
STRAITS TIMES 3118.700 02:30 23.02
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By: Daniel Gant
February 12th 2014 3:10pm GMT, London UK
 
GBP/USD
The EUR/USD pair strongly reacted on the yesterday’s testimony of Janet Yellen before U.S. lawmakers. The pair first erased the previous movement up which was made by speculation. Traders awaited more dovish report due to worse-than-expected labor data and maybe even change in a withdrawing of the monetary stimulus. However, as we can see in the report, she supported further tapering but connected with strong data. At 3.00PM (GMT) she started to talk and her speech was more dovish than the actual testimony which made the pair reverse and move back up but finished low at 1.3635 level. Today At 3.30PM (GMT) the ECB President will have a speech at the European Monetary Institute but it might not be relevant for the pair

USD/JPY
Contrarily from the others majors pairs, the USD/JPY pair was driven mainly by Yen not by U.S. Dollar. We saw an increase from 102.05 to 102.70 even though the U.S. Dollar sharply dropped during the Fed Chairman’s testimony before U.S. lawmakers. The pair slightly decreased during the Asian session despite worse than expected Core Machinery Orders and Tertiary Industry Activity. Today we should pay attention to U.S. Federal Budget Balance which will be released at 7.00PM (GMT). The sentiment is slightly bearish.

GOLD
The price of Gold moved up and touched its new 3-months highs. The price turned on $1,293.5/ounce and slightly decreased to $1,285/ounce. The price was reacting on the Fed testimony. First it dropped as the investors saw the actual report and did not find any dovish hits. However, once new Fed Chairman Janet Yellen started to testify before U.S. lawmakers the price sharply increased on her statement that “labor recovery is far from complete”. Today we might see some price correction and slight down-trend as physical market weakened due to high price.

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