Friday, Mar 02, 18:39 GMT
ASIA-PACIFIC Trading Newsletter
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NEXT SPECIAL WEBINARS
How to become a professional trader - 10 Power Principles of successful trading systems
Expert: Markus Heitkoetter
Start: Tue, Mar 6, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Outlook for Non-Farm Payrolls
Expert: Richard Lee
Start: Wed, Mar 7, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
Topics
- US Economic Growth
- Possible Market Impact
Current Session: U.S.
GBP/USD
Mid-Day Forex Technical Report - Carry Trade Unwinding Still Dominates, Sterling Hammered by ActionForex.com
Cable falls sharply early US session and reached mentioned 1.9429 as expected. Break of 1.9429 indicates the whole consolidation from 1.9400 should have completed at 1.9672 already and the decline from 1.9913 should have resumed. At this point, intraday bias remains on the downside as long as cable stays below 1.9516 support turned resistance and further fall is expected to follow towards 1.9237/61 cluster support (23.6% retracement of 1.7047 to 1.9913 at 1.9237).
- USD/CHF is the biggest thread for USD advance today by Tony Juste
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
- Be up to date with the Latest Forex News
Other Topics for this Session:
Daily Technical Briefing - “Major Levels Being Breached – Trend Changes at Hand†by FXCM
FXA Technical Commentary - Nasdaq, caught the tumble but... by FXA
FX Thoughts for the Day - FX Thoughts for the day - Evening - 02-Mar-2007....1219 GMT by Kshitij Consultancy Service
Currencies at a Glance
- EUR/USD
- Trades below 1.3160
3/2/2007 11:39:43 AM - GBP/USD
- Drops below 1.9500
3/2/2007 11:40:18 AM - USD/CHF
- Moves down below 1.2235
3/2/2007 11:41:03 AM - USD/JPY
- Moving down below 117.40
3/2/2007 11:41:45 AM
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading Ltd. , KBC Bank, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US ISM SERVICES
| Date (GMT) | Event | Cons. | Previous | |
| Mar 5 | 20:00 | ISM Services | 57.5 | 59.0 |
Friday Notes - Rolling in money by HVB Group
The index will probably show that the services industries continued to expand in February, but the string of weather-related disruptions will restrain the enthusiasm for several industries.
[ Full Story ]- Tony Juste, FX Advisor at FXstreet.com: "The services sector is the one supporting the US economy by some distance, and with the Manufacturing sector now back in expansionary mode (sure?), the services sector could prove the Fed right about a soft landing in the economy. Any reading above 57 should be taken positively by the market." - FXstreet.com
Top Market Movers Review
US MICHIGAN CONSUMER SENTIMENT INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 2 | 20:00 | Michigan Consumer Sentiment Index | 91.3 | 94.0 | 96.9 |
Reuters/Univ Michigan End-Feb Sentiment 91.3; Jan 96.9 (Dow Jones)
Consumers grew less confident in February, with the Reuters/University of Michigan's survey showing declines Friday in both its current sentiment and expectations indexes.
[ Full Story ]- Read the Consumer Confidence Slides at Reuters/University of Michigan
- Univ. Michigan Economic Sentiment Index dips to 91.3 in February (FXstreet.com)
- Tony Juste, FX Advisor at FXstreet.com: "It may not mean that much, but if consumer confidence figures start to fall, as in the last Michigan sentiment survey then the 2/3 of the GDP that rely on the private consumption could pose a further threat to slow down the economic growth." - FXstreet.com
Weekly Calendar - Week of February 26th, 2007 thru March 2nd, 2007 by Trade The News
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 2 | 07:00 | DE | Retail Sales (MoM) (Jan) | -5.1% | -1.5% | 2.6% |
| 07:00 | DE | Retail Sales (YoY) (Jan) | -1.4% | -0.8% | 0.2% | |
| 09:30 | GB | PMI Construction (Jan) | 57.3 | 57.2 | 57.9 | |
| 10:00 | EMU | Producer Price Index (MoM) (Jan) | 0.1% | 0.3% | 0% | |
| 10:00 | EMU | Producer Price Index (YoY) (Jan) | 2.9% | 3.1% | 4.1% | |
| 13:30 | CA | Gross Domestic Product (MoM) | 0.4% | 0.3% | 0.2% | |
| 15:00 | US | Michigan Consumer Sentiment Index | 91.3 | 94.0 | 96.9 |
|
| Mar 5 | 08:55 | DE | PMI - Services Index (Feb) | 58.0 | 58.3 | |
| 09:00 | EMU | PMI - Services Index (Feb) | 58.0 | 57.9 | ||
| 09:30 | GB | PMI - Services Index (Feb) | 58.8 | 59.2 | ||