Thursday, Mar 05, 17:00 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- WEBINAR VIDEOS: Catching Redfish off the pool: Trend Lines and Technical Indicators by S.A. Ghafari
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Path: EUR/USD − Still Sitting on Support by James Chen
Price action on EUR/USD, a daily chart of which is shown, continues to sit right on top of support around the 1.2500 price region. A convincing breakdown of this support has not yet occurred within the past several days.
Forex Trading Today: BoE and ECB Clock In As Expected and their Units Fall by Tim Salem
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Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Mar 5, 18:00 GMT
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Type of Session: Webinar
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 34th Edition
Expert: Wayne McDonell
Start: Fri, Mar 6, 12:30 GMT
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Type of Session: Webinar
| Sponsored by | ||||
| Thu, Mar 5, 16:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN |  |
| Thu, Mar 5, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Fri, Mar 6, 12:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 34th Edition | Wayne McDonell | WBN | |
| Mon, Mar 9, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN | |
| Mon, Mar 9, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: U.S.
The EUR/USD rejected the 1.2580, but hold above 1.2500
FXstreet.com − Despite Trichet's comments, euro continues holding above the 1.2500 zone, while stocks are again slumping in the U.S. Rumors of futures options at that zone, are defending the downside quite well, yet the currency remains mostly bearish across the board. Downside seems limited with the pair consolidating here, and seems market players have to aims to risk positions at these levels
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Correcting With Further Downside Risks by FXTechstrategy
Corrective pullbacks to further downside threats continue to pervade the prices of GOLD driving it back lower through its earlier invalidated resistance level. Both price action and momentum indicators continue to point to the downside.
JPY crosses
JPY Sinks as Safe−Haven Currency Ditched by ForexYard
Forex traders ditched the JPY yesterday as they looked for short−term riskier assets. The Japanese Stock market made massive gains, largely influenced by Chinese Premier Wen Jiabao revealing that China will make drastic moves to push China's economic growth to 8%, rather than the forecasted 6%.
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
US NONFARM PAYROLLS
| Date (GMT) | Event | Cons. | Previous | |
| Mar 6 | 13:30 | Nonfarm Payrolls | -625K | -598K |
| Mar 6 | 13:30 | Average Hourly Earnings (YoY) | - | 3.9% |
| Mar 6 | 13:30 | Average Hourly Earnings (MoM) | 0.3% | 0.3% |
| Mar 6 | 13:30 | Unemployment Rate | 7.9% | 7.6% |
Friday Notes - Another ugly jobs report expected for February by UniCredit Group
The bulge in initial and continued claims for unemployment compensation will be reflected in another ugly jobs report for February. The unemployment rate is feeling the impact, climbing sharply in the past few months. We expect that the widening scope of the recession will be confirmed by another drop in the diffusion indexes that the Bureau of Labor Statistics tabulates.
[ Full Story ]Economics Weekly - BoE and ECB to cut interest rates, weak US jobs data expected by Lloyds TSB Financial Markets
Top Market Movers Review
EMU ECB TRICHET'S SPEECH
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 5 | 13:30 | ECB Trichet's Speech | - | - | - |
Trichet: Inflation Likely To Stay Well Below 2% In 2009, 2010 (Dow Jones)
European Central Bank President Jean−Claude Trichet said Thursday that inflation is likely to stay below 2.0% for this year and next. The ECB's Governing Council cut its benchmark interest rate to 1.5% from 2.0% earlier Thursday.
[ Full Story ]- Jean−Claude Trichet: Introductory statement at the ECB
- 3rd UPDATE:Trichet:Won't Rule Out Rate Cut,Nonstandard Tools (Dow Jones)
- EUR/USD: Euro drops to 1.2515 on reaction to Trichet's Press conference (FXstreet.com)
- The EUR/GBP is trading above the 0.8900, waiting for Trichet (FXstreet.com)
Trading News Report - EUR/USD: Trading the European Central Bank Interest Rate Decision by FXCM
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 5 | 12:00 | BoE Interest Rate Decision | 0.5% | 0.5% | 1.0% |
Bank of England Cuts Rates To 0.5%; To Buy GBP75B Securities (Dow Jones)
The Bank of England Thursday became the first European central bank to implement quantitative easing policy, as it announced it would buy up to GBP75 billion mostly in medium and long−term gilts over the next three months.
[ Full Story ]- Read the Official Statement at BoE
- UPDATE: Gilts Surge As Bank Of England Ramps Up Printing Press (Dow Jones)
- UPDATE: BOE: First Gilt Purchase Auction March 11 (Dow Jones)
- UPDATE: UK Treasury Lets BOE Buy Up To GBP150 Billion To Up Money Supply (Dow Jones)
European Market Update - Market awaits BOE and ECB interest rate decisions by TradeTheNews.com
Asia Market Update - EUR, GBP Pare Gains Ahead of Rate Decisions by TradeTheNews.com
Be Prepared! European Interest Rate Cuts Expected by ForexYard
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 5 | 15:00 | US | Factory Orders (Jan) | -1.9% | -2.0% | -4.9% |
| 15:00 | CA | Ivey Purchasing Managers Index (Feb) | 45.2 | 37.5 | 36.1 | |
| Mar 6 | 08:15 | CH | Consumer Price Index (MoM) (Feb) | -0.1% | -0.8% | |
| 08:15 | CH | Consumer Price Index (YoY) (Feb) | 0.0% | 0.1% | ||
| 09:30 | UK | Producer Price Index − Input (MoM) s.a (Feb) | 1.5% | |||
| 09:30 | UK | Producer Price Index − Input (YoY) n.s.a (Feb) | 1.1% | 2.3% | ||
| 09:30 | UK | Producer Price Index − Output (MoM) n.s.a (Feb) | 0.1% | |||