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EUR/USD, GBP/USD, USD/CAD, USD/JPY, AUD/USD, USD/CHF

USD is at a three-month lows against the AUD remained broadly under pressure on Wednesday as markets geared up for more stimulus from the Fed. USD index fell 0.3 % to 80.061 and euro above $1.3000, pulling away from a two-week low around $1.2876 plumbed Friday.Euro last at $1.30030, having retraced 50 % of its Dec. 5-7 fall from $1.3127 to $1.2876.

Factors

CAD imports fell, Statistics Canada said the nation recorded a C$169 million ($171.4 million) trade deficit in October, down from a revised C$1.01 billion gap in September,
CAD declines

USD-EURO -currency basis swap, was 24 bp below the euro interbank rate. The measure fell to minus 23.8 on Dec. 3,

Greece Investors tendered Greek bonds with a face value of more than 31 billion euros ($40.3 billion), the Finance Ministry official said yesterday, Greece to meet target set by IMF and EU

US: Obama extended an offer of cooperation with Republicans yesterday over proposed tax increases and spending cuts that kick in next year, saying he’s ready to make a deal.

US : Economists predict the Fed will purchase Treasuries to bolster an existing program to buy $40 billion in mortgage bonds each month,

ASIA : North Korea launched a long-range rocket today in defiance of international sanctions

FOREX : USD-EURO -currency basis swap, was 24 bp below the euro interbank rate

EURO-ZONE : Greece buys bonds face value of more than 31 billion euros ($40.3 billion), to meet target

Commodities

Oil Fluctuates as U.S. Crude Stockpiles Climb Before OPEC Meets

Gold Trades Near One-Week High FOMC Meeting

Gold may rise in 2013 on India, China Demand

Copper at 7W high FONC Optimism

Interested in Investing in Asia? Hedge Funds, Real Estate, Trading, Research, Advice, Data Apply Now

Prepared by The Heffernan Group of Companies
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EUR/USD intraday: bullish bias above 1.296

Pivot: 1.2960.
Our preference: LONG positions above 1.296 with 1.3015 & 1.303 in sight.
Alternative scenario: The downside breakout of 1.296 will open the way to 1.2935 & 1.2915.
Comment: the pair has struck against its resistance and should face a pull back ahead of further advance.

Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

GBP/USD intraday: the upside prevails. Pivot: 1.6090. Our preference: LONG positions above 1.609 with 1.612 & 1.613 in sight. Alternative scenario: The downside breakout of 1.609 will open the way to 1.608 & 1.606. Comment: the pair remains on the upside and is challenging its resistance. Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

USD/CAD intraday: under pressure. Pivot: 0.9875 Our preference: Short positions below 0.9875 with targets @ 0.9855 & 0.9835 in extension. Alternative scenario: Above 0.9875 look for further upside with 0.989 & 0.991 as targets. Comment: a break below 0.9855 would trigger a drop towards 0.9835. Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

USD/JPY intraday: further upside. Pivot: 82.45. Our preference: LONG positions above 82.45 with 82.7 & 82.85 as next targets. Alternative scenario: The downside breakout of 82.45 will open the way to 82.25 & 82.15. Comment: the pair remains on the upside and is approaching its previous high. Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

AUD/USD intraday: bullish bias above 1.0505. Pivot: 1.0505 Our preference: Long positions above 1.0505 with targets @ 1.0545 & 1.0575 in extension. Alternative scenario: Below 1.0505 look for further downside with 1.048 & 1.0455 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

USD/CHF intraday: under pressure.

Pivot: 0.9345.
Our preference: SHORT positions below 0.9345 with targets @ 0.929 & 0.927.
Alternative scenario: The upside breakout of 0.9345 will open the way to 0.9365 & 0.9385.
Comment: the pair is under pressure and is challenging its support.

Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

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