Thursday, Mar 22, 08:28 GMT
EUROPEAN Trading Newsletter
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Current Session: Europe
GBP/USD
Daily Forex Technical Report - Focus on Fed Speakers after Dovish FOMC, UK Retail Sales Watched by ActionForex.com
Cable's rally extends further to as high as 1.9695 today, break marginally above 1.9672 resistance. At this point, further rise is still expected to follow as long as cable stays above 1.9552 support. As discussed before, sustained break of 1.9672 resistance. will encourage a retest of 1.9913 high.
- FOREX FORUM: Technical Analysis forum. Post your charts and share your technical point of view.
- GBP reacting to Gordon Brown's comments - CPI in the 2% level 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:
USD/JPY Daily Outlook - USD/JPY Daily Outlook by AceTrader
Daily Recommended Trades - EUR/USD daily outlook by E-Forex
Daily Forex and Dow Jones Recommended Levels - Fxtechtrade by FXtechtrade
Currencies at a Glance
- EUR/USD
- Continues to move down below 1.3375 , toward today's pivot at 1.3354
03/22/2007 07:30 GMT - GBP/USD
- Moves down below 1.9675 , toward today's pivot at 1.9644
03/22/2007 07:30 GMT - USD/CHF
- Trades around 1.2100 , between today's pivot and first support
03/22/2007 07:30 GMT - USD/JPY
- Moves down below 117.35 , toward first support at 117.12
03/22/2007 07:30 GMT
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, Saxo Bank
[ View ASI page ] [ View USD/JPY page ]
Charting the Market Movers
EUR USD, Hourly
USD JPY, Hourly
Top Market Movers Preview
UK RETAIL SALES
| Date (GMT) | Event | Cons. | Previous | |
| Mar 22 | 09:30 | Retail Sales (MoM) | 0.6% | -1.8% |
| Mar 22 | 09:30 | Retail Sales (YoY) | 3.7% | 3.3% |
Friday Notes - EMU: Unimpresse by US slowdown by HVB Group
After a disappointing performance in January, we expect February retail sales to rebound, rising by 0.5% m-o-m. Although the latest surveys have sent mixed indications, with the BRC sales monitor improving and the CBI moderating, we see the former as a better gauge of retail sales dynamics.
[ Full Story ]Top Market Movers Review
Japan MERCHANDISE TRADE BALANCE TOTAL
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 21 | 23:50 | Merchandise Trade Balance Total | ¥979.58 | ¥711.50B | -¥1.90B |
Japan Feb trade surplus up 7.7 pct on strong car sales, beats forecast - UPDATE (AFX News)
Japan's merchandise trade yielded a surplus of 979.58 bln yen in February, up 7.7 pct from the year-earlier surplus of 909.77 bln, the Ministry of Finance said, well ahead of market expectations. Economists had projected a trade surplus of 630.8 bln yen on average. Exports last month rose 9.7 pct year-on-year to 6.418 trln yen, while imports increased 10.1 pct to 5.438 trln.
[ Full Story ]- Read the Trade Statistic report at Japan Ministry of Finance
- Japan Feb trade figures with Asia, US and EU (AFX News)
- Japan Outlook:Feb Trade Balance,METI 2007 Land Price Report (Dow Jones)
US FOMC POLICY ANNOUNCEMENT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 21 | 18:15 | FOMC Policy Announcement | - | - | - |
THE FED: Fed Holds Rates Steady, Sees Inflation Elevated (Dow Jones)
The Federal Reserve held its benchmark interest rate steady Wednesday, saying its "predominant policy concern remains the risk that inflation will fail to moderate as expected." In its statement, the Federal Open Market Committee acknowledged recent data showing both higher inflation and a weaker economy.
[ Full Story ]- View the past interest rates data on our Economic Time series
- Read the FOMC statement
- UPDATE: Text Of FOMC Statement (Dow Jones)
- Fed holds the line on interest rates (AFX News)
- Fed keeps interest rates at 5.25 percent (AFX News)
- Ian Shepherdson, chief US economist at High Frequency Economics: "This is a grudging removal of the tightening bias." - MarketWatch
Asia Market Update - Asia Market Update - Asian equities rally after Fed drops tightening bias by Trade The News
Daily Market Briefing - Federal Reserve Turns Slightly Dovish, Keeps Rates Unchanged At 5.25% by FXCM
Daily Global Commentary - March FOMC Meeting: Inching Toward Neutral by Northern Trust
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 21 | 18:15 | US | FOMC Policy Announcement | |||
| 23:50 | JP | BSI Large Manufacturing (QoQ) (1Q) | 0.1 | 7.1 | ||
| 23:50 | JP | Merchandise Trade Balance Total (Feb) | ¥979.58 | ¥711.50B | -¥1.90B | |
| Mar 22 | 09:30 | UK | Retail Sales (MoM) (Feb) | 0.6% | -1.8% | |
| 09:30 | UK | Retail Sales (YoY) (Feb) | 3.7% | 3.3% | ||
| 10:00 | EMU | Industrial New Orders (YoY) (Jan) | 1.6% | |||
| 10:00 | EMU | Industrial New Orders s.a. (MoM) (Jan) | -1.0% | 2.8% | ||
| 10:00 | EMU | Trade Balance n.s.a. (Jan) | €2.5B | |||
| 12:30 | US | Initial Jobless Claims (Mar 17) | 318K | |||
| 13:22 | US | Fed's Bernanke speaks on Credit Market in North Carolina | ||||