Friday, Mar 28, 08:44 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Day Trading Series - Chapter IV: Developing a Profitable Trading Strategy (Part 2) by Markus Heitkoetter
- Asia Session Performance by FXstreet.com
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Live Sessions Schedule
US Pre−Market Open
Expert: Ed Ponsi
Start: Fri, Mar 28, 12:00 GMT
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Mar 28, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Mar 28, 08:00 GMT | The Forex Basic Training Program | Wayne McDonell | WBN |  |
| Fri, Mar 28, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN | |
| Fri, Mar 28, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Fri, Mar 28, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
Current Session: Europe
GBP/USD
Daily Forex Technical Report − Sterling Dragged Down by Steeper Fall in House Prices by ActionForex.com
Sterling weakens sharply in early European session after the release of much weaker than expected house price data. Nationwide house price's decline accelerated further to −0.6% mom in Mar, dragging yoy rate sharply lower from 2.7% to 1.1%. While the stronger than expected rebound in GBP/USD is messing up the outlook a bit, the clear weakness in EUR/GBP, which is back pressing 0.79 level again, an in commodity crosses like GBP/AUD and GBP/CAD are suggesting that further weakness is more likely in the pound than not.
- Understanding The Exact Process Behind The Movement In Price by Sam Seiden
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Other Topics for this Session:
EUR/USD: (1.5791) Tried to regain Uptrendline off 1.4777 by KBC Bank
NZDUSD Consolidation Offers Range Trade Opportunity by FXCM
Risk picture is mixed by Saxo Bank
Currency Performance
Asia Session Performance by FXstreet.com
FX Analysts' Comments
FOREX Training Video | New York Session March 25, 2008 by Wayne McDonell, FxBootcamp.com
FX' Signal
Recent Recommended Trades by AceTrader
Currencies at a Glance
- EUR/USD
- Stays above pivot level 1.5761
03/28/2008 08:08 GMT - GBP/USD
- Moves down back around opening price level 2.0074 , above pivot level 2.0036
03/28/2008 08:08 GMT - USD/CHF
- Continues to trade below pivot level 0.9961
03/28/2008 08:08 GMT - USD/JPY
- Moves up above first resistant level 99.91
03/28/2008 08:08 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
US CORE PERSONAL CONSUMPTION EXPENDITURE − PRICES INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Mar 28 | 12:30 | Core Personal Consumption Expenditure − Prices Index (MoM) | 0.1% | 0.3% |
| Mar 28 | 12:30 | Core Personal Consumption Expenditure − Prices Index (YoY) | 2.1% | 2.2% |
US economic indicators - Consumer confidence indicators are likely to deteriorate further in March by BHF−Bank
In line with the development of consumer prices, we expect the PCE deflator and the PCE core deflator to have remained unchanged. The PCE core deflator's annual rate could thus have dropped from 2.2% to 2.0%, the upper limit of the Fed's comfort zone.
[ Full Story ]Top Market Movers Review
UK NATIONWIDE HOUSING PRICES S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 28 | 07:00 | Nationwide Housing Prices s.a (MoM) | -0.6% | -0.3% | -0.5% |
| Mar 28 | 07:00 | Nationwide Housing Prices n.s.a (YoY) | 1.1% | 2.0% | 2.7% |
DATA SNAP: UK Nationwide House Price Growth At 12−Year Low (Dow Jones)
U.K. house prices fell more than expected in March, with the annual rate of growth slowing to its weakest level in 12 years, the Nationwide Building Society said Friday. The price of a typical house fell 0.6% in March, the fifth consecutive monthly drop, and was 1.1% higher on the year.
[ Full Story ]- Read the House Prices data at Nationwide
- UK March Nationwide housing Price growth to lowest level in twelve years (FXstreet.com)
- UK house price growth at 12−year−low in March − Nationwide (Thomson Financial News)
- UK Mar Nationwide Housing Prices down 0.6%; +1.1% YoY (FXstreet.com)
Trading News Report - Will Falling House Prices, Sink The Pound? by FXCM
Daily Forex Technical Report − Sterling Dragged Down by Steeper Fall in House Prices by ActionForex.com
Daily Market Briefing - British Pound Could Break 2.0 if Disaster Hits UK Mortgage Lenders by FXCM
New Zealand GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 27 | 23:30 | Gross Domestic Product (QoQ) | 1.0% | 0.8% | 0.5% |
New Zealand's Q4 GDP up 1.0 percent from Q3 versus consensus 0.8 percent rise (Thomson Financial News)
New Zealand's fourth quarter 2007 gross domestic product (GDP) grew 1.0 percent from the third quarter when GDP rose 0.5 percent from the previous month, Statistics New Zealand said on Friday. The market consensus forecast was for a 0.8 percent rise in fourth quarter GDP from the third quarter.
[ Full Story ]- Read the Gross Domestic Product report at Statistics New Zealand
Japan NATIONAL CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 27 | 23:30 | Tokyo CPI ex Fresh Food (YoY) | 0.6% | 0.5% | 0.4% |
| Mar 27 | 23:30 | Tokyo Consumer Price Index (YoY) | 0.6% | 0.5% | 0.4% |
| Mar 27 | 23:30 | National Consumer Price Index (YoY) | 1.0% | 0.9% | 0.7% |
| Mar 27 | 23:30 | Tokyo CPI ex Food, Energy (YoY) | 0.1% | 0.0% | -0.1% |
Japan Feb Core CPI +1.0% On Year; Mkt Expected +0.9% (Dow Jones)
Japan's core consumer price index rose 1.0% in February from a year earlier, the Ministry of Internal Affairs and Communications said Friday. The reading was above the 0.9% gain forecast by economists polled by Dow Jones Newswires and Nikkei. It was the fastest rise since the 1.8% increase in March 1998.
[ Full Story ]- Read the Consumer Price Index report at Japan Statistics Bureau
- Japanese data shows worsening consumer spending environment − economists (Thomson Financial News)
- Japan's February data reflects weak economy − Morgan Stanley (Thomson Financial News)
- Japan's core CPI rises at fastest pace in 10 years in February − UPDATE (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 28 | 07:00 | DE | Import Price Index (MoM) (Feb) | 1.1% | 0.6% | 0.8% |
| 07:00 | DE | Import Price Index (YoY) (Feb) | 5.9% | 5.4% | 5.2% | |
| 07:00 | UK | Nationwide Housing Prices n.s.a (YoY) (Mar) | 1.1% | 2.0% | 2.7% | |
| 07:00 | UK | Nationwide Housing Prices s.a (MoM) (Mar) | -0.6% | -0.3% | -0.5% | |
| 09:00 | EMU | Bloomberg Retail PMI (Mar) | 52.4 | |||
| 09:00 | DE | Bloomberg Retail PMI (Mar) | 52.1 | |||
| 09:30 | UK | Current Account (4Q) | -£18.3B | -£20.0B | ||
| 09:30 | UK | Gross Domestic Product (QoQ) (4Q) | 0.6% | 0.7% | ||
| 09:30 | UK | Gross Domestic Product (YoY) (4Q) | 2.9% | 3.3% | ||
| 10:30 | CH | KOF Swiss Leading Indicator (Mar) | 1.60 | 1.65 | ||