Monday, Mar 02, 17:19 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
Forex Trading Today: AUD/USD and USD/JPY Feel the Heat in the Asia−Pacific Rim by Tim Salem
The "Blood in the Streets" Analogy surely fits the beginning of our week here, with the EuroZone's lack of Policy Confidence really bleeding out from the Eastern European concerns all the way east to the Asian and Pacific Sectors.
The Advisor Blog: Gbp and Euro update by Valeria Bednarik
Find other fellow traders to share your comments and market view in the FOREX CHAT
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Live Sessions Schedule
Eyes on the Yen – CADJPY & GBPJPY Weekly Review
Expert: Mihai Marinescu
Start: Tue, Mar 3, 10:00 GMT
Type of Session: Webinar
Multi−time frames for entry and exit signals in Forex
Expert: Peter Leonidou
Start: Tue, Mar 3, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Mar 2, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Tue, Mar 3, 10:00 GMT | Eyes on the Yen – CADJPY & GBPJPY Weekly Review | Mihai Marinescu | WBN |  |
| Tue, Mar 3, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Mar 3, 14:00 GMT | Multi−time frames for entry and exit signals in Forex | Peter Leonidou | WBN | |
| Tue, Mar 3, 15:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
Current Session: U.S.
The GBP/USD is fighting the 1.4000 level
FXstreet.com − After it falls more than 140 pips in the early American session, the GBP/USD has fallen below the 1.4000 level from the 1.4141, at the beginning of the American session, to the 1.3985, lowest level since January 27.
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Cable Weakens Universally With EUR/GBP Poised To Break Out by FastBrokersFX
he Cable is selling off sharply on Monday in reaction to a terrible earnings report from HSBC. Additionally, the major London bank will need to raise cash to stay afloat, showing a second wave of contraction is washing through the global financial industry. Since Britain's GDP is highly reliant on the financial sector, the Cable is getting knocked with the currency pair heading back towards the psychological 1.40 level.
Net long JPY positions are reduced further by Danske Bank A/S
During the week to 24 February USD/JPY rose close to 5% as the yen sell−off accelerated on the back of weak Japanese activity data − but despite poor equity market performance. The rapid turnaround of the yen can partly be explained by the fact that the market was very long yen as market sentiment changed.
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
Canada BOC INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Mar 3 | 14:00 | BoC Interest Rate Decision | 0.5% | 1.0% |
Trading News Report - The BoC is widely expected to lower the benchmark interest in September by FXCM
Accordingly, the Bank of Canada is widely expected to lower the benchmark interest rate by another 25bp to 0.75% next week, which would be the lowest level since 1958, as the economy heads into its first recession in over a decade, and the central bank may adopt unconventional measures such as quantitative easing to manage monetary policy going forward as borrowing costs get pushed closer to zero.
[ Full Story ]Top Market Movers Review
US ISM MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 2 | 15:00 | ISM Manufacturing | 35.8 | 34.0 | 35.6 |
DATA SNAP: Factories Contract Again In February (Dow Jones)
The U.S. manufacturing sector faced another month of declining activity in February. The Institute for Supply Management said Monday that its manufacturing index for February moved to 35.8, from 35.6 in January and 32.9 in December.
[ Full Story ]- Read the Manufacturing data at ISM Institute
- US Feb ISM Manufacturing increase slightly over consensus to 35.8 (FXstreet.com)
- Monday's Events: ISM Manufacturing, U.S. Core PCE, Canadian GDP (CEP News)
US economic indicators - ISM indices (February): declining after temporary stabilisation by BHF−Bank
US PERSONAL INCOME
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 2 | 13:30 | Core Personal Consumption Expenditure − Prices Index (MoM) | 0.1% | 0.1% | 0.0% |
| Mar 2 | 13:30 | Personal Income (MoM) | 0.4% | -0.3% | -0.2% |
| Mar 2 | 13:30 | Core Personal Consumption Expenditure − Prices Index (YoY) | 1.6% | 1.6% | 1.7% |
DATA SNAP: US Savings Rate At Highest Level Since March 1995 (Dow Jones)
U.S. consumers increased their spending in January, while the savings rate reached its highest level in nearly 14 years amid a deepening recession. Personal consumption rose 0.6% compared to the month before, the Commerce Department said Monday. In December, spending fell by an unrevised 1.0%, while November spending fell 0.8%.
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 2 | 15:00 | US | Construction Spending (MoM) (Jan) | -3.3% | -1.5% | -2.4% |
| 15:00 | US | ISM Manufacturing (Feb) | 35.8 | 34.0 | 35.6 | |
| 23:50 | JP | Monetary Base (YoY) (Jan) | 1.9% | 3.9% | ||
| Mar 3 | 00:30 | AU | Current Account Balance (4Q) | -7.35B | -9.70B | |
| 00:30 | AU | RBA Interest Rate Decision | 3% | |||
| 00:30 | AU | Retail Sales Trend (MoM) (Jan) | 0% | |||
| 06:45 | CH | Gross Domestic Product (YoY) (4Q) | -0.1% | 1.6% | ||