Friday, Feb 27, 17:18 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- WEBINAR VIDEOS: The "Flag" chart pattern by Sunil Mangwani
- All the events of the day in our Economic Calendar
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Forex Blogs
U.S. Data and EUR/USD, USD/CAD, USD/JPY, and the Crosses by Tim Salem
Our Yen strength overall continued to build with the release of the worse United States Gross Domestic Product Data Points in about 25 years… although this "catalyst" may have been tempered just slightly be minuscule "positive" numbers...
The Advisor Blog: Gbp/Usd close to key support level by Valeria Bednarik
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Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Mar 2, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Catching Redfish off the pool: Trend Lines and Technical Indicators
Expert: S.A Ghafari
Start: Mon, Mar 2, 11:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Mar 2, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Mar 2, 11:00 GMT | Catching Redfish off the pool: Trend Lines and Technical Indicators | S.A Ghafari | WBN |  |
| Mon, Mar 2, 14:00 GMT | What kind of trader am I  | Adam Rosen | WBN | |
| Mon, Mar 2, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN |  |
| Mon, Mar 2, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN | |
Current Session: U.S.
EURUSD: Still Undecided Of Its Direction
FXTechstrategy − The pair continues to find a direction closing marginally higher on Thursday following its Wednesday negative daily close. The 1.2514 level, its Feb 18'09 low and the 1.2992 level, its Feb 23'09 high have to give way to create immediate nearer term direction with a bigger and broader range seen between the 1.2330 level, its 2008 swing low and its Jan 27/28'09 highs at 1.3327/30. Until either of this level is decisively violated, any meaningful direction moves remain on hold
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Risk aversion remained the flavor into the London session by FOREX.com
Risk aversion remained the flavor into the London session as nationalization worries resurfaced with the US government now expected to take a 40% stake in Citi. European bourses are getting pummeled and currently off about −2.5% on average while US futures suggest the S&P will test the critical November intraday low support by 741 today
JPY Free Fall Continues by FXstreet.com
The JPY continues to fall against the major currencies, but the selling in mass of the Yen was briefly halted by better−than−expected production data. The USD/JPY fell early this morning as preliminary industrial production fell by 10%. While the number appears to be drastic, traders were prepared for a much larger drop. When this did not occur, the JPY was given a large boost
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
GBP USD, Hourly
EUR USD, Hourly
Top Market Movers Preview
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Mar 2 | 10:00 | Consumer Price Index (YoY) | 1.0% | 1.1% |
Friday Notes - Energy up, food inflation down by UniCredit Group
Food inflation probably kept on a declining path, but this will be compensated by an increase in energy prices driven by rising motor fuel costs. Together with a relatively stable core inflation rate, this should leave headline inflation unchanged at 1.1% in February.
[ Full Story ]Top Market Movers Review
US REUTERS/MICHIGAN CONSUMER SENTIMENT INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 27 | 14:55 | Reuters/Michigan Consumer Sentiment Index | 56.3 | 56.0 | 61.2 |
DJ Reuters/Univ Michigan End−Feb Sentiment 56.3; Jan 61.2 (Dow Jones)
Consumer sentiment slipped in February from the previous month, according to a report released Friday. The Reuters/University of Michigan final sentiment reading for February stood at 56.3, versus 56.2 in the preliminary survey and 61.2 in January.
[ Full Story ]- Reuters/Univ Michigan End−Feb Sentiment 56.3; Jan 61.2 (Dow Jones)
- US Feb Reuters/Michigan Consumer Sentiment Index falls to 56.3 (FXstreet.com)
US economic indicators - Final UMI consumer sentiment might improve slightly by BHF−Bank
US GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 27 | 13:30 | Gross Domestic Product Annualized | -6.2% | -5.3% | -0.5% |
DATA SNAP: US Economy Falls More Than Expected In 4Q (Dow Jones)
The U.S. recession deepened a lot more in late 2008 than first reported, according to government data showing a big revision down because businesses cut supplies to adjust for shriveling demand. Gross domestic product decreased at a seasonally adjusted 6.2% annual rate October through December, the Commerce Department said Friday in a new, revised estimate of fourth−quarter GDP.
[ Full Story ]- The EUR/USD is testing the 1.2600 after US GDP data (FXstreet.com)
- US Gross Domestic Product Annualized decreases to −6.2% in 4Q (FXstreet.com)
- Summary Table Of Key U.S. Gross Domestic Product Data (Dow Jones)
Trading News Report - EUR/USD: Trading the U.S. Gross Domestic Product (GDP) Report by FXCM
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 27 | 14:45 | US | Chicago Purchasing Managers' Index (Feb) | 34.2 | 34.0 | 33.3 |
| 14:55 | US | Reuters/Michigan Consumer Sentiment Index (Feb) | 56.3 | 56.0 | 61.2 | |
| Mar 2 | 00:30 | AU | RBA Interest Rate Decision | 3.25% | ||
| 01:30 | JP | Labor Cash Earnings (YoY) (Jan) | -1.4% | |||
| 05:00 | JP | Vehicle Sales (YoY) (Feb) | -27.9% | |||
| 05:30 | AU | RBA Commodity Index SDR (YoY) (Feb) | 29.1% | |||
| 07:00 | DE | Retail Sales (MoM) | -0.2% | |||