Wednesday, Mar 04, 17:08 GMT
ASIA-PACIFIC Trading Newsletter
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- WEBINAR VIDEOS: Hedging with Options in Today's Forex by John Jagerson
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Path: USD/CHF − Nearing Short−Term Bullish Exhaustion? by James Chen
As shown on the accompanying USD/CHF 4−hour chart, price has been entrenched in a gradual parallel uptrend channel since around late January. More recently, since late February, price has been rising steeply within this channel in a rising wedge formation.
The Advisor Blog: Gbp/Usd tigh range by Valeria Bednarik
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| Thu, Mar 5, 10:00 GMT | Tracking the forex market together / Part I | Dr.S.Sivaraman | WBN | |
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Current Session: U.S.
U.S. Markets rally at the opening, Euro and Pound stronger
FXstreet.com − Risk appetite continues dominating the markets as a consequence of Chinese government's announcement to increase public spending in order to reactivate its economy, Wall Street is posting gains for the first time in six days and the Euro and Pound are appreciating. Euro and Pound extend recovery; USD/JPY stalls below 100.00
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The USD/CHF is back to the 1.1800 level by FXstreet.com
After it falls around 100 pips from the 1.1848 level, maximum since Feb 20, to the 1.1748, today's low, The USD/CHF has recovered slightly to test the 1.1800 resistance.
European Rate Cuts in the Foreground for Forex Traders by ForexYard
European rate cut decisions, like those expected tomorrow by the ECB and BoE, typically result in traders pricing−in the impact a day or two ahead of schedule. As such, we may be seeing the depreciation of the EUR continue through the day as most traders are near 100% positive that the ECB will in fact slash rates by 50 basis points tomorrow around noon. This weakness will likely continue throughout today's trading.
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 ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Mar 5 | 12:45 | ECB Interest Rate Decision | 1.5% | 2.0% |
ECB Preview: Focus on quantitative easing by Danske Bank A/S
We look for a 50bp cut to 1.5% and a fairly dovish statement at Thursday's ECB meeting, which keeps the door open for a further reduction in rates to at least 1.0%. ECB rarely surprises and all 55 analysts in a Bloomberg survey expect a 50bp cut, which is a probable outcome although one could argue for an even bigger cut.
[ Full Story ]Daily Market Report - With most participants expecting a record low cut from the central bank by Wachovia
European Market Update - Service PMI's data maintains pressure on ECB by TradeTheNews.com
Top Market Movers Review
US ISM NON−MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 4 | 15:00 | ISM Non−Manufacturing | 41.6 | 42.0 | 42.9 |
DATA SNAP: ISM Services Shrink At Faster Pace In February (Dow Jones)
Non−manufacturing activity contracted at a faster pace in the U.S. in February. Private research group the Institute for Supply Management reported Wednesday that its composite index of non−manufacturing activity hit 41.6 in February, from 42.9 in January, while its non−manufacturing business index stood at 40.2, from 44.2.
[ Full Story ]- Read the Non−Manufacturing Report at ISM
- US ISM Non−Manufacturing a bit lower than expected, at 41.6 in Feb (FXstreet.com)
US economic indicators - ISM indices (February): declining after temporary stabilisation by BHF−Bank
US ADP EMPLOYMENT CHANGE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 4 | 13:15 | ADP Employment Change | -697K | -565K | -522K |
ADP Sees February US Private Sector Jobs −697,000 (Dow Jones)
Private sector jobs fell 697,000 in the U.S. in February, according to a national employment report published Wednesday by payroll giant Automatic Data Processing Inc. (ADP) and consultancy Macroeconomic Advisers.
[ Full Story ]- Read the Employment data at ADP
- UPDATE: ADP Sees February US Private Sector Jobs −697,000 (Dow Jones)
- EUR/USD: The Euro, drops below 1.2550 after weaker then expected ADP (FXstreet.com)
- US ADP Feb Employment Change falls to −697K (FXstreet.com)
US economic indicators - We expect the ADP report to show a loss of 640k jobs in February by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 4 | 15:00 | US | ISM Non−Manufacturing (Feb) | 41.6 | 42.0 | 42.9 |
| 17:00 | US | Fed's Lockhart speech | ||||
| 19:00 | US | Fed's Beige Book | ||||
| Mar 5 | 07:00 | DE | Retail Sales (MoM) | 0.3% | -0.2% | |
| 07:00 | DE | Retail Sales (YoY) | -0.7% | -0.3% | ||
| 10:00 | EMU | Gross Domestic Product s.a. (QoQ) (4Q)  | -1.5% | -0.2% | ||
| 10:00 | EMU | Gross Domestic Product s.a. (YoY) (4Q) | -1.2% | 0.6% | ||