USDJPY heading toward convergence as the market awaits the Feds Beige book
December 2, 2009 by Greg Michalowski · Leave a Comment

The USDJPY has maintained the topside gains but is coming toward a point where a move away should be forthcoming. The 100 bar moving average on the 5 minute chart comes in at the 87.21 level. The 200 bar MA comes in at the 87.15 level. There is topside trendline resistance at the 87.33 level and trendline support at the 87.11 level. Look for a break above or below the moving average levels and confirmation of the directional move via a move through the respective trendlines. If done, we should see further directional moves.
At 2:00 PM NYT the Fed’s Beige Book will be released. The report is an anecdotal commentary on the state of the US economy on a regional basis. The headlines released at the time tend summarize the report.
The complete report can be read by going to the following link at 2:00 PM NYT and clicking on the link for the December report:
http://www.federalreserve.gov/FOMC/BeigeBook/2009/
Highlights from Feds Beige Book from newswires
September 9, 2009 by Greg Michalowski · Leave a Comment
- RETAIL PRICES WERE STEADY IN MOST DISTRICTS
- MOST DISTRICTS REPORTED TIGHT CREDIT STANDARDS
- CONSTRUCTION REMAINED AT LOW LEVELS
- HOUSE PRICES INDICATED DOWNWARD PRESSURES
- WAGE PRESSURES WERE MINIMAL IN ALL 12 DISTRICTS
- LABOR MARKETS WERE WEAK IN ALL 12 DISTRICTS
- REPORTED MANUFACTURING SHOWED MODEST IMPROVEMENT
- LOAN DEMAND WAS WEAK
- DEMAND FOR COMMERCIAL REAL ESTATE WAS WEAK
- RESIDENTIAL REAL ESTATE IMPROVED
- MOST DISTRICT BANKS REPORTED FLAT RETAIL SALES
- 12 FED DISTRICT BANKS NOTED SIGNS OF IMPROVEMENT
- DISTRICT BANKS SAID ECONOMY CONTINUED TO STABILIZE
