Wednesday, Feb 25, 08:40 GMT
EUROPEAN Trading Newsletter
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- Webinar Videos: My Favorite Patterns To Trade by Derek Frey
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: EUR/USD Holds The Line While Gold Corrects by Tim Salem
As we usually see with "natural" Market behavior… we are seeing some "resting"…"continuation"…"consolidation".. and every other descriptor we can think of after we see such stout Momentum−driven Directionality! Our "Risk−Averse" Friend, the Dollar, is handling the job just fine!
Chartology: Looking to the intraday USD/CAD set ups for the trigger I’m watching by Raghee Horner
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Feb 25, 10:00 GMT
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Type of Session: Webinar
Main Fundamental theme in the Currency Market
Expert: John Kicklighter
Start: Wed, Feb 25, 14:00 GMT
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Type of Session: Webinar
| Sponsored by | ||||
| Wed, Feb 25, 10:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Feb 25, 13:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Feb 25, 14:00 GMT | Main Fundamental theme in the Currency Market | John Kicklighter | WBN | |
| Wed, Feb 25, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
US dollar is overbought but bullish momentum is the strongest in years
Mizuho Corporate Bank − Scampering up a lot faster than we had imagined, probably because the move has taken so many by surprise. The US dollar is overbought but bullish momentum is the strongest in years. While we may have done enough for this week some time in March we continue to favour a squeeze to 98.00/98.50 or so.
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EUR/USD: Above 1.2800, the Euro entered into consolidation by FXstreet.com
The EUR/USD has entered into a consolidation period after having risen above 1.2800, the pair has been trading between 1.2800 and 1.2870.
Daily Recommended Trades − Resistance at .6530 is under pressure by E−Forex
Resistance at .6530 is under pressure and a potential break will favor further gains towards .6590 and .6650. Support emerges at .6480 backed by .6390 and .6330
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
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
US EXISTING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Feb 25 | 15:00 | Existing Home Sales | 4.82M | 4.74M |
| Feb 25 | 15:00 | Existing Home Sales (MoM) | 1.7% | 6.5% |
Trading News Report - EUR/USD: Trading the U.S. Existing Home Sales Report by FXCM
Demands for existing homes in the U.S. are expected to rise for the second consecutive month in January as potential home buyers take advantage of the record drop in home prices however, as household face a weakening labor market paired with fears of a deepening recession, the outlook for the housing sector remains bleak.
[ Full Story ]Top Market Movers Review
Germany GROSS DOMESTIC PRODUCT S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 25 | 07:00 | Gross Domestic Product n.s.a (YoY) | -1.6% | -1.6% | 1.3% |
| Feb 25 | 07:00 | Gross Domestic Product w.d.a (YoY) | -1.7% | -1.7% | 0.8% |
| Feb 25 | 07:00 | Gross Domestic Product s.a (QoQ) | -2.1% | -2.1% | -0.5% |
DATA SNAP: German 4Q GDP −2.1% On Qtr,Unch From Flash Figure (Dow Jones)
German fourth−quarter gross domestic product contracted by 2.1% in adjusted terms on the quarter, unrevised as expected in a final reading, federal statistics data showed Wednesday.
[ Full Story ]- Read the GDP data at German Statistics
- Germany 4Q Gross Domestic Product s.a (QoQ) at −2.1%, as expected (FXstreet.com)
EMU economic indicators - A significant revision of German GDP in Q4 2008 is unlikely by BHF−Bank
Australia WAGE PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 25 | 00:30 | Wage Price Index (QoQ) | 1.2% | 0.9% | 1.0% |
Australia 4Q Wage Index +1.2% On Qtr Vs Consensus +0.9% (Dow Jones)
Australian wages excluding bonuses rose 1.2% in the fourth quarter of 2008 from the third quarter and rose 4.3% from a year earlier, Australian Bureau of Statistics labor price data issued Wednesday show. Economists surveyed ahead of the announcement on average forecast a rise of 0.9% over the quarter and 3.8% from a year earlier.
[ Full Story ]- Read the Wage data at Australian Bureau of Statistics
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 25 | 00:30 | AU | Wage Price Index (QoQ) (4Q) | 1.2% | 0.9% | 1.0% |
| 07:00 | DE | Gross Domestic Product n.s.a (YoY) (4Q) | -1.6% | -1.6% | 1.3% | |
| 07:00 | DE | Gross Domestic Product s.a (QoQ) (4Q) | -2.1% | -2.1% | -0.5% | |
| 07:00 | DE | Gross Domestic Product w.d.a (YoY) (4Q) | -1.7% | -1.7% | 0.8% | |
| 09:30 | UK | Gross Domestic Product (QoQ) (4Q)  | -1.6% | -0.6% | ||
| 09:30 | UK | Gross Domestic Product (YoY) (4Q) | -1.9% | -0.3% | ||
| 09:30 | UK | Index of Services (Dec) | -1.0% | -0.4% | ||
| 15:00 | US | Existing Home Sales (Jan) | 4.82M | 4.74M | ||
| 15:00 | US | Existing Home Sales (MoM) (Jan) | 1.7% | 6.5% | ||
| 15:30 | US | EIA Crude Oil Stocks change | 7.2M | |||