Monday, Mar 17, 16:30 GMT
ASIA-PACIFIC Trading Newsletter
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Live Sessions Schedule
Outlook for the major currencies this week
Expert: Ian Copsey
Start: Tue, Mar 18, 08:00 GMT
Sponsored by: 
Type of Session: Webinar
FX Instructor Live Trading Room
Expert: Nader Moustafa
Start: Tue, Mar 18, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Mar 17, 16:00 GMT | Using fibonacci retracements to identify support and resistance | John Jagerson | WBN |  |
| Tue, Mar 18, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN | |
| Tue, Mar 18, 09:00 GMT | FX Instructor Live Trading Room | Nader Moustafa | WBN | |
| Tue, Mar 18, 11:00 GMT | Trading with figures  | Valeria Bednarik | WBN |  |
| Tue, Mar 18, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
Current Session: U.S.
GBP/USD
Mid−Day Forex Technical Report − Yen Remains Firm as Credit Market Problems Still the Main Theme by ActionForex.com
Cable's fall from 2.0389 extends further to as low as 1.9991 today and it's now pressing mentioned 1.9994 support. As discussed before, a short term top should be in place at 2.0389 with bearish divergence conditions in 4 hours MACD and RSI, after touching key near term resistance zone of 2.0363/0464. Firm break of 1.9994 support will confirm this case and bring deeper decline to 1.9720 support first.
In the bigger picture, the question is whether the current rise from 1.9337 is merely correction to fall from 2.1161, or the start of another set of rallies.
Currency Performance
Currency Performance Report − Europe Session Performance by FXstreet.com
FX Analysts' Comments
To Save The Dollar − Fed Should Keep Rates Steady! by Jerry Furst, Director Investors Education Network
Top Market Movers Preview
US NAHB HOUSING MARKET INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Mar 17 | 17:00 | NAHB Housing Market Index | 20 | 20 |
US economic indicators - The FOMC is expected to cut the federal funds rate sharply again by BHF−Bank
The NAHB index went up again by one point to 20 in February, and we expect it to have remained on this still very low level in March. Although the homebuilders' index has stabilized somewhat, housing starts are expected to have declined further to just under 1000k. They have not been that low since May 2005.
[ Full Story ]Top Market Movers Review
US INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 17 | 13:15 | Capacity Utilization | 80.9% | 81.3% | 81.5% |
| Mar 17 | 13:15 | Industrial Production (MoM) | -0.5% | -0.1% | 0.1% |
DATA SNAP: US Feb Industrial Production −0.5%, Cap Use 80.9% (Dow Jones)
U.S. industrial production fell more than Wall Street expected in February. Industrial production fell 0.5% in February, the Federal Reserve said Monday. Output rose an unrevised 0.1% in January.
[ Full Story ]- Read the Industrial Production data at Federal Reserve
- Forex − Dollar under renewed pressure from weak industrial data (Thomson Financial News)
- UPDATE: US Feb Industrial Production −0.5%, Cap Use 80.9% (Dow Jones)
- Ind. production down, deficit drops (Thomson Financial News)
US economic indicators - The FOMC is expected to cut the federal funds rate sharply again by BHF−Bank
US NY EMPIRE STATE MANUFACTURING INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 17 | 12:30 | NY Empire State Manufacturing Index | -22.23 | -6.30 | -11.72 |
NY Fed Manufacturing Index Hits Record Low Of −22.23 In March (Dow Jones)
The Federal Reserve Bank of New York said Monday that its Empire State Manufacturing survey showed business conditions plunged to a record low in March, the lowest in the survey's seven−year history.
[ Full Story ]- Read the Empire State Manufacturing Survey at NY Fed
- US March Empire State Manufacturing Index down to −22.23 vs −6.30 expected (Thomson Financial News)
- US Empire State Manufacturing Index beats negative record in March (FXstreet.com)
- US NY Empire State Manufacturing Index slupps to −22.23 in Mar from −11.72 in Feb (FXstreet.com)
Currencies at a Glance
- EUR/USD
- Trades above first resistant level 1.5729
03/17/2008 16:17 GMT - GBP/USD
- Trades around second support level 2.0033
03/17/2008 16:17 GMT - USD/CHF
- Trades around second support level 0.9860
03/17/2008 16:18 GMT - USD/JPY
- Trades below second support level 97.45
03/17/2008 16:18 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
GBP USD, Hourly
EUR USD, Hourly
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 17 | 13:15 | US | Capacity Utilization (Feb) | 80.9% | 81.3% | 81.5% |
| 13:15 | US | Industrial Production (MoM) (Feb) | -0.5% | -0.1% | 0.1% | |
| 17:00 | US | NAHB Housing Market Index (Mar) | 20 | 20 | ||
| Mar 18 | 00:30 | AU | RBA Meeting's Minutes (Mar 4) | |||
| 05:30 | JP | Nationwide Department Sales (YoY) (Feb) | -2.1% | |||
| 05:30 | JP | Tokyo Department Store Sales (YoY) (Feb) | -1.6% | |||
| 07:15 | CH | Industrial Production (QoQ) (4Q) | 0% | |||