Friday, Mar 23, 08:25 GMT
EUROPEAN Trading Newsletter
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Current Session: Europe
EUR/USD
Daily Technical Analysis - EUR/JPY should take prices back down to 155.00 short term by Mizuho Corporate Bank
Hesitation as the Euro trades at some of the strongest ever levels (based on the Deutschemark) and below the all-time high of 1.3670 on New Year's Eve 2004. Short term the Euro is no longer overbought and a weekly close above 1.3400 should add upside pressure. For this morning allow for more nervous consolidation under 1.3400, with dips hopefully holding above 1.3300.
- FOREX FORUM: Technical Analysis forum. Post your charts and share your technical point of view.
- Read Tony Juste's latest comments on the markets
- 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:
Forex Technical Analysis - EUR/USD:(1.3328) Has approached 1.3422 (2nd target of MT Daily Double Bottom off 1.2939) by KBC Bank by KBC Bank
Daily Forex Technical Report - Consolidation to Continue, More Housing Data Due by ActionForex.com
Daily Recommended Trades - EUR/USD daily outlook by E-Forex
Currencies at a Glance
- EUR/USD
- Moves up above 1.3330 , towards today's pivot at 1.3350
03/23/2007 07:15 GMT - GBP/USD
- Moves up toward today's pivot at 1.9660
03/23/2007 07:15 GMT - USD/CHF
- Continues to trade around today's opening price level at 1.2143 , above today's pivot at 1.2132
03/23/2007 07:16 GMT - USD/JPY
- Floating around opening price level at 118.07 , above today's pivot at 117.86
03/23/2007 07:16 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
US EXISTING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Mar 26 | 14:00 | New Home Sales | 985K | 937K |
| Mar 23 | 14:00 | Existing Home Sales (MoM) | -1.7% | 3.0% |
| Mar 23 | 14:00 | Existing Home Sales | 6.35M | 6.46 |
Asia Market Update - Asia Market Update - Traders turn cautious ahead of existing home sales data by Trade The News
Expectations for existing home sales during February is -2.5% (if this contraction is realized, it would be the biggest drop in seven months).
[ Full Story ]Daily Forex Technical Report - Consolidation to Continue, More Housing Data Due by ActionForex.com
Top Market Movers Review
Germany IMPORT PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 23 | 07:00 | Import Price Index (YoY) | 0.8% | 0.9% | 0.7% |
| Mar 23 | 07:00 | Import Price Index (MoM) | 0.5% | 0.6% | -0.7% |
German Feb import prices up 0.5 from Jan; up 0.8 pct yr-on-yr (AFX News)
German import prices rose 0.5 pct in February from January and rose 0.8 pct from February last year, the Federal Statistics Office said. Germany's import price index rose to 105.9 in February from 105.4 in January and from 105.1 in Feb 2006 (2000 equals 100), the office said in a statement.
[ Full Story ]- Read the Import prices in February 2007: +0.8% on February 2006 at Destatis
- German Import prices index rises 0.8% yearly in February (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 23 | 07:00 | DE | Import Price Index (MoM) (Jan) | 0.5% | 0.6% | -0.7% |
| 07:00 | DE | Import Price Index (YoY) (Feb) | 0.8% | 0.9% | 0.7% | |
| 14:00 | US | Existing Home Sales (Feb) | 6.35M | 6.46 | ||
| 14:00 | US | Existing Home Sales (MoM) (Feb) | -1.7% | 3.0% | ||
| Mar 26 | 14:00 | US | New Home Sales (Feb) | 985K | 937K | |
| Mar 27 | 14:00 | US | Consumer Confidence (Mar) | 109.0 | 112.5 | |
| Mar 28 | 12:30 | US | Durable Goods Orders (Feb) | 3.5% | -7.8% | |
| 14:30 | US | EIA Crude Oil Stocks (Mar 23) | 3.7M | |||
| Mar 29 | 12:30 | US | Gross Domestic Product Annualized (4Q) | 2.2% | 2.2% | |
| 12:30 | US | Initial Jobless Claims (Mar 24) | 316K | |||