Tech Stocks: Dell, H-P lead tech stocks lower; Garmin gains

Disappointing results from Dell weigh on the sector, with investors also keeping an eye on blue-chip Hewlett-Packard, on deck to report results after the close.

Market Snapshot: U.S. stocks fall after three sessions of gains

U.S. stocks in retreat after a three-session run up, with equities taking a break from an advance that has the Standard & Poor’s 500 Index up 8% for the year so far.

Canadian Markets: Toronto stocks follow tech, commodities higher

Canada’s blue-chip S&P/TSX Composite Index added 33.02 points, or 0.3%, to 12,656.38.

Latin American Markets: Mexican stocks fall after downbeat global data

Mexican stocks move lower Wednesday, moving in line with losses on Wall Street in part after U.S. monthly housing data comes in below expectations.

Bond Report: Treasurys stay higher after 5-year auction

Prices for government debt stabilize following recent selling pressures tied to optimism over Greece and the trend in U.S. economic data. A 5-year note auction comes at the highest rate seen since November.

Banking is back in Latin America

Banking is back in Latin America. While most of the rest of the world is still recovering from the global financial crisis of 2008, Latin American banks have recovered.

Currencies: Dollar rises, hits seven-month high vs. yen

The U.S. dollar gains most notably on Japan’s yen and the British pound, leaving analysts pointing to a confluence of factors weighing on Japan’s currency, though sterling’s losses may be limited.

Obama corporate overhaul takes aim at tax havens

The White House corporate tax reform plan will, among other things, seek to end the ability of multinational companies to shift profits to low-tax countries like Bermuda and the Cayman Islands.

Europe Markets: Europe stocks fall after PMI data, Greek downgrade

Most European stock markets close lower Wednesday after data for the euro zone showed that business activity for the region slipped back into contraction in February and Fitch downgraded Greece to ‘C’ from ‘CCC’

Financial Stocks: Financial stocks drop on weak euro-zone data

A weak euro-zone manufacturing report Wednesday reignites concerns about a recession in the region to which many large institutions are exposed.

Daily Reports

Cash Bridge Brokers Daily Report 22-2-2012 (English)

Cash Bridge Brokers Daily Report 22-2-2012 (Arabic)

Cash Bridge Brokers Daily Report 22-2-2012 (Fundamental)

EUR/USD Mid-Day Outlook

Intraday bias in EUR/USD remains neutral at this point. On the upside, above 1.3321 will resume the rebound from 1.2625 and target 61.8% retracement of 1.4246 to 1.2625 at 1.3627. On the downside, below 1.2974 will revive the case that rebound from 1.2625 is finished and flip bias back to the downside for this support level.

USD/CHF Mid-Day Outlook

No change in USD/CHF's outlook. With 0.9206 minor resistance intact, another fall remains mildly in favor. Break of 0.9065 support will affirm the case that rebound from 0.7065 is finished at 0.9594 on bearish divergence condition in daily MACD. In such case, deeper fall should be seen to 0.8567 support

USD/JPY Mid-Day Outlook

USD/JPY climbs to as high as 80.36 so far today and intraday bias remains on the upside for the moment. Current rise from 76.02, which is part of the rally from 75.56, should target 61.8% retracement of 85.51 to 75.56 at 81.70 next. On the downside, below 79.30 will argue

GBP/USD Mid-Day Outlook

GBP/USD dropped sharply to as low as 1.5679 today so far but remains bounded in range of 1.5643/5928. Intraday bias remains neutral. Again, note that 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168) remains intact. Thus, there is no confirmation of completion of fall from 1.6746.

GBP/JPY Daily Outlook

Another rise remains in favor in GBP/JPY with 124.49 minor support intact. Current rally could extend to 127.30 resistance, which is close to 161.8% projection of 117.29 to 122.04 from 119.58 at 127.26. At noted before, we're treating rebound from 117.29 as the third leg of consolidation pattern from 116.83.

EUR/JPY Daily Outlook

EUR/JPY lost some upside momentum with 4 hours MACD crossed below signal line but with 104.65 minor support intact, intraday bias remains mildly on the upside. Current rally from 97.03 is expected to continue towards 161.8% projection of 97.03 to 102.20 from 99.24 at 107.60. Note that the break of

EUR/GBP Daily Outlook

EUR/GBP's consolidation from 0.8221 continues and outlook remains unchanged. Upside of the consolidation is expected to be limited by 38.2% retracement of 0.8830 to 0.8221 at 0.8454 and bring fall resumption eventually. Below 0.8277 minor support should now send EUR/GBP through 0.8221 support toward 0.8067 key support level next.

USD/CAD Daily Outlook

With 1.0050 resistance intact, deeper decline is still expected in USD/CAD for 0.9891 support. Break there will resume whole decline from 1.0656 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9757. However, note that break of 1.0050 will indicate that a short term bottom is at least formed and

AUD/USD Daily Outlook

AUD/USD's break of 1.0628 support indicates that decline from 1.0844 has resumed. The development is starting to favor the case of short term topping. Intraday bias is mildly on the downside for a test on 1.0377 resistance turned support. Also, AUD/USD is likely still bounded in consolidation pattern from 1.1079

EUR/USD Daily Outlook

Intraday bias in EUR/USD remains neutral at this point. On the upside, above 1.3321 will resume the rebound from 1.2625 and target 61.8% retracement of 1.4246 to 1.2625 at 1.3627. On the downside, below 1.2974 will revive the case that rebound from 1.2625 is finished and flip bias back to the downside for this support level.

GBP/USD Daily Outlook

Intraday bias in GBP/USD remains neutral for the moment. Note again that 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168) remains intact. Thus, there is no confirmation of completion of fall from 1.6746. Below 1.5643 will flip bias back to the downside for 1.5234. On the

USD/CHF Daily Outlook

Another fall is still mildly in favor in USD/CHF for the moment. Break of 0.9065 support will affirm the case that rebound from 0.7065 is finished at 0.9594 on bearish divergence condition in daily MACD. In such case, deeper fall should be seen to 0.8567 support for confirmation. On the

USD/JPY Daily Outlook

USD/JPY's rally extends further to as high as 80.08 even though upside momentum is diminishing mildly with 4 hours MACD staying below signal line. Intraday bias remains on the upside and current rise from 76.02, which is part of the rally from 75.56, is expected to target 61.8% retracement of

USD/CHF Mid-Day Outlook

Intraday bias in USD/CHF remains on the downside for 0.9065 support. Break will affirm the case that rebound from 0.7065 is finished at 0.9594 on bearish divergence condition in daily MACD. In such case, deeper fall should be seen to 0.8567 support for confirmation. On the upside, above 0.9206 will

USD/JPY Mid-Day Outlook

USD/JPY lost some upside moment ahead of 80 psychological level but with 78.98 minor support intact, further rally is still expected. Current rise from 76.02 is expected to continue towards 61.8% retracement of 85.51 to 75.56 at 81.70 next. Though, break of 78.98 minor support will indicate short term topping

GBP/USD Mid-Day Outlook

With 4 hours MACD crossed below signal line, intraday bias in GBP/USD is turned neutral for the moment. The most important point to note is that 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168) remains intact. Thus, there is no confirmation of completion of fall from

EUR/USD Mid-Day Outlook

EUR/USD's rebound from 1.2974 lost some momentum ahead of 1.3321 and remains bounded in range. Intraday bias stays neutral for the moment. On the upside, above 1.3321 will resume the rebound from 1.2625 and target 61.8% retracement of 1.4246 to 1.2625 at 1.3627. On the downside, below 1.2974 will revive

USD/CAD Daily Outlook

Intraday bias in USD/CAD remains on the downside for 0.9891 support. Break there will resume whole decline from 1.0656 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9757. On the upside, break of 1.0050 resistance is needed to signal short term bottoming. Otherwise, near term outlook will remain bearish even in case of recovery.

AUD/USD Daily Outlook

AUDUSD continues to stay in right range below 1.0844 and intraday bias remains neutral Note again that AUD/USD is still staying inside near term rising channel, and thus, there is no sign of topping yet. Above 1.0844 will resume recent rally and target a test on 1.1079 high. However, firstly,

EUR/USD Daily Outlook

EUR/USD edges higher today but is still kept below 1.3321 resistance and thus, intraday bias remains neutral. On the upside, above 1.3321 will resume the rebound from 1.2625 and target 61.8% retracement of 1.4246 to 1.2625 at 1.3627. On the downside, below 1.2974 will revive the case that rebound from