Friday, Mar 02, 10:59 GMT
EUROPEAN Trading Newsletter
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- Special Coverage: World equity markets sell-off by FXstreet.com
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- FOREX FORUM: The Outsider Method
- Special Webinar: Trade Non-Farm Payrolls LIVE with Wayne McDonell
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- The Advisor Blog: Europeans set to fall -vs- USD
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Special Webinar
How to become a professional trader - 10 Power Principles of successful trading systems
Expert: Markus Heitkoetter
Start: Tue, Mar 6, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Current Session: Europe
GBP/USD
Daily Forex Technical Report - No Inspiration from Japanese Data by ActionForex.com
Cable weakens mildly into European session but after all, it's still kept inside established range of 1.9429 and 1.9679. As discussed before, with 4 hours MACD staying below signal line, the corrective rise from 1.9429 should have completed at 1.9672 already.
- Read the latest USD developements by Tony Juste
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
- Be up to date with the Latest Forex News
Other Topics for this Session:
Daily Recommended Trades - EUR/USD daily outlook by E-Forex
Forecast on Forex Majors - Forecast on Forex Majors by FX-Strategy
EUR/USD Daily Outlook - EUR/USD Daily Outlook by AceTrader
Currencies at a Glance
- EUR/USD
- Moves down below 1.3160
3/2/2007 9:20:16 AM - GBP/USD
- Continues to trade below 1.9555
3/2/2007 9:21:35 AM - USD/CHF
- Moves up above 1.2250
3/2/2007 9:22:36 AM - USD/JPY
- Trades around 117.60
3/2/2007 9:23:40 AM
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - USD/JPY
**Source : CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading Ltd. , KBC Bank, Mizuho Corporate Bank
[ View ASI page ] [ View USD/JPY page ]
Charting the Market Movers
EUR USD, Hourly
USD JPY, Hourly
Top Market Movers Preview
US MICHIGAN CONSUMER SENTIMENT INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Mar 2 | 20:00 | Michigan Consumer Sentiment Index | 94.0 | 93.3 |
Weekly Calendar - Week of February 26th, 2007 thru March 2nd, 2007 by Trade The News
Feb U. of Michigan Confidence (last 93.3). Earnings - Before the Open: HRZ METH. After the Close: None.
[ Full Story ]- Peter Oberois, analyst at India Daily: "In 1929 the market sentiment as well as consumer confidence was high even after initial crash. The margin calls scared the brokers but the main street was still on the ‘high’. Similarly, the almost unchanged confidence level in the University of Michigan data points to the level of complacency not witnessed for more than seventy years." - India Daily
Top Market Movers Review
Germany RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 2 | 12:00 | Retail Sales (MoM) | -5.1% | -1.5% | 2.6% |
| Mar 2 | 12:00 | Retail Sales (YoY) | -1.4% | -0.8% | 0.2% |
German Jan retail sales down 5.1 pct vs Dec, down 1.4 pct yr-on-yr (AFX News)
German retail sales were down 5.1 pct in real terms in January compared with December and were down 1.4 pct from January last year, according to preliminary figures from the Federal Statistics Office.
[ Full Story ]- Read the Turnover in retail trade in January 2007: In real terms -1.4% to January 2006 at Destatis
- DATA SNAP: German Jan Retail Sales Real Adj -1.4% On Yr -2- (Dow Jones)
- German retail sales decline in January (FXstreet.com)
- DATA SNAP: German Jan Retail Sales Real Adj -1.4% On Year (Dow Jones)
Japan TOKYO CONSUMER PRICE INDEX S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 2 | 04:30 | National Consumer Price Index (YoY) | 0% | 0% | 0.3% |
| Mar 2 | 04:30 | Tokyo Consumer Price Index (YoY) | 0% | 0.1% | 0.1% |
| Mar 2 | 04:30 | National Consumer Price Index s.a (MoM) | -0.2% | 0.1% | 0% |
| Mar 2 | 04:30 | Tokyo Consumer Price Index s.a. (MoM) | -0.4% | -0.1% | 0.2% |
Asia Market Update - Asia Market Update - Japanese data reinforces view of gradual BoJ rate hikes by Trade The News
Japanese inflation data reinforces expectations of gradual BoJ rate hikes: Japanese core CPI increased 0.1% mnth/mnnth (in line with estimates) and annual core CPI came in at 0.0% v 0.0% expected.
[ Full Story ]- Read the Consumer Price Index at the Statistics Bureau
- Asian economic and corporate news summary (AFX News)
- TABLE: Japan January CPI, Tokyo February CPI Data (Dow Jones)
- Japan Jan core CPI flat yr-on-yr, matching forecast - UPDATE (AFX News)
- Tony Juste, FX Advisor at FXstreet.com - "CPI is a measure to see the progress of the inflation curve in Japan and the likelihood of further tightening bias by the Bank of Japan. With the Yen now strengthening and the carry trade history just over, any data inviting to think that there could be more rate hikes would just spark more selling pressure in all Yen crosses." - FXstreet.com
Daily Forex Technical Report - No Inspiration from Japanese Data by ActionForex.com
Forex Currency Outlook - YEN: Is the carry-trade at risk? by National Bank of Canada
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 2 | 07:00 | DE | Retail Sales (YoY) (Jan) | -1.4% | -0.8% | 0.2% |
| 09:30 | GB | PMI Construction (Jan) | 57.3 | 57.2 | 57.9 | |
| 10:00 | EMU | Producer Price Index (MoM) (Jan) | 0.1% | 0.3% | 0% | |
| 10:00 | EMU | Producer Price Index (YoY) (Jan) | 2.9% | 3.1% | 4.1% | |
| 13:30 | CA | Gross Domestic Product (MoM) | 0.3% | 0.2% | ||
| 15:00 | US | Michigan Consumer Sentiment Index | 94.0 | 93.3 | ||
| Mar 5 | 15:00 | US | ISM Services (Feb) | 57.5 | 59.0 | |
| Mar 6 | 15:00 | US | Factory Orders (Jan) | -1.8% | 2.4% | |
| Mar 7 | 19:00 | US | Fed's Beige Book | |||
| Mar 8 | 13:30 | US | Initial Jobless Claims (Mar 3) | 332K | ||