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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (13090)	10/7/2004 5:31:38 PM
From: Haim R. Branisteanu	Respond to of 116555

I am speaking - intra-day charts - seems there is selling just above those levels. Daily it is a quite big triangle / coil waiting for a break out of around 10% IMHO BWDIK

To: Knighty Tin who wrote (13090)	10/7/2004 7:32:08 PM
From: Haim R. Branisteanu	Respond to of 116555

MARKET TALK/JP: Fed Door Open To A Pause If Needed [Contact Us: Tokyo 813-5255-2929] 2318 GMT [Dow Jones] Fed officials have spent bulk of week talking up economy's prospects but some of them are also giving themselves an exit strategy on rates, which curbing USD: Bernanke says drop in U.S. Treasury yields of late a rational reaction to view Fed may be slower to hike than previously believed, while McTeer, in comments just coming out, says Fed can pause if needed, inflation scare's over. Bernanke's views often represent leading edge of thinking at Fed; his comments give credence to those who believe Fed may pull its punches.(RXM) 2316 GMT [Dow Jones] USD/JPY may drift higher in Asian session as players bet crude's rise to new record high overnight will hit Japan's economy harder than others, says Fumihiko Kawano, trader at Nomura Sec. "Everybody thinks high oil prices will hurt Japan's economy, so a little yen selling is only natural," he adds. Options players' offers likely to cap upside around yesterday's high 111.50, first support at 110.70, he says.(STW) 2315 GMT [Dow Jones] May be some geopolitical jitters after Egypt explosions, which killed at least 30, many of them Israeli tourists; 3 blasts, largest one at Hilton hotel in Taba. Part of hotel has collapsed, part's on fire, car bomb blamed. At least 100 injured. Taba's right near Israeli border; many Israelis were vacationing there on last night of Jewish holiday. If, as seems almost certain, attack deliberately targeted these tourists, it'll further raise tensions in Middle East, could cause problems with Israel-Egypt ties.(RXM) 2308 GMT [Dow Jones] U.S. AGENCIES: Spreads continued to narrow as impact of Fannie's defense of accounting practices rippled through market; elsewhere, Freddie announced plan to sell $8-$13 billion in reference notes with maturities of up to 10 years in 4Q, but no EUR debt. With $7.4 billion in reference notes expected to mature in 4Q Freddie tips net issuance, excluding repurchases, to be $600 million-$5.6 billion; its total debt shrank to $756.9 billion in 3Q. Freddie 2006s in 0.5 bp, 2009s in 3.7 bps; Fannie 2006s in 1.1 bp, 2009s in 3.8 bps.(RXM) 2303 GMT [Dow Jones] ASIA OUTLOOK: FX majors likely quiet before U.S. payrolls tonight, may be some room for USD to slip further beforehand, with more details coming out now on those Egypt blasts; stocks have negative cue from Wall Street slip, plus fall in chip giant TSMC's ADRs. Data slate in region light, includes Japan all household spending 0500 GMT, August Machinery orders same time; HK August retail sales 0815 GMT. In Europe, is German industrial output. Aside from payrolls in U.S., is August wholesale trade; speakers include Snow, Bernanke, Ferguson, Taylor.(RXM) (END) Dow Jones Newswires October 07, 2004 19:18 ET (23:18 GMT)