Friday, Feb 27, 08:39 GMT
EUROPEAN Trading Newsletter
To Get Started
- 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: The USD/JPY and Transitive Session Rollover by Tim Salem
Post−Time is a bit early tonight… at 2:20 GMT… so I may cover some of what I like to call "Transitive Rollover" with the Yen Unit itself. Concerning our "Momentum Superstar of the Week"… USD/JPY… it should be no surprise here that we are beginning a momentum−based corrective retracement here…. hence the "Transitive Rollover" term.
1st on Forex: Beautiful Charts, Ugly Economic Data - News by Jerry Furst
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Live Sessions Schedule
Scanning for High Probability Trading Opportunities
Expert: Sam Seiden
Start: Fri, Feb 27, 11:00 GMT
Type of Session: Webinar
Watch Live Coverage of the US GDP
Expert: Jerry Furst
Start: Fri, Feb 27, 12:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Feb 27, 08:30 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Fri, Feb 27, 11:00 GMT | Scanning for High Probability Trading Opportunities | Sam Seiden | WBN | |
| Fri, Feb 27, 12:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
| Fri, Feb 27, 16:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
Current Session: Europe
EUR/USD: Euro drops fast below 1.2665 support level
FXstreet.com − The Euro is on a move below 1.2665 support level after having broken through intra−day low at 1.2685, volatility is increasing and the Euro advances under strong selling pressure.
In case of successful move below 1.2665, bearish momentum would increase, as the Euro would enter into fresh intra week−lows. On the downside, next support level could come at 1.26 1, before dropping to Feb 20 low at 1.2565, below there, 1.2515 (Feb 18 low)
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Market Session Recaps − Yen got up off the canvas today to fight another round by FOREX.com
USD/JPY cascaded lower in the Asia session from a high near 98.60, the pair landed at a 98.32 low before a bounce sent it about 40 pips higher going into London.
GBP/USD: The Pound sets an attack to 1.4250; on its way to 1.4222 by FXstreet.com
The Pound seems to be attempting to move south shortly ahead of Friday's European session; Sterling has breached some pips below intra−day support at 1.4225 and is on its way towards 1.4200
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
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Feb 27 | 10:00 | Unemployment Rate | 8% | 8% |
| Feb 27 | 10:00 | Consumer Price Index (YoY) | 1.1% | 1.6% |
| Feb 27 | 10:00 | Consumer Price Index (MoM) | -0.9% | -0.1% |
EMU economic indicators - Final HICP inflation will probably be confirmed at 1.1% by BHF−Bank
Final HICP inflation in the eurozone will probably be confirmed at 1.1% in January, which would correspond with a monthly inflation rate of –0.8%. Eurostat will also publish the new country weights following Slovakia's entry into the eurozone on 1 January2009.
[ Full Story ]Top Market Movers Review
UK GFK CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 27 | 00:01 | Gfk Consumer Confidence | -35 | -39 | -37 |
DATA SNAP: UK Consumer Confidence Stages Surprise Rebound (Dow Jones)
U.K. consumer confidence staged a surprise recovery in February, a first indication that the government's efforts to stimulate the economy and encourage bank lending may be working. According to the results of a monthly survey released by polling firm GfK NOP Friday, the headline measure of consumer confidence rose to −35 from −37 in January.
[ Full Story ]- Read the Confidence data at GfK NOP
Japan NATIONAL CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 26 | 23:30 | Tokyo CPI ex Food, Energy (YoY) | -0.1% | -0.3% | -0.3% |
| Feb 26 | 23:30 | National Consumer Price Index (YoY) | 0.0% | 0.0% | 0.4% |
| Feb 26 | 23:30 | Tokyo Consumer Price Index (YoY) | 0.5% | 0.3% | 0.5% |
| Feb 26 | 23:30 | National CPI Ex Food, Energy (YoY) | -0.2% | -0.2% | 0.0% |
Japan Jan Core CPI Flat On Year; Mkt Expected −0.1% (Dow Jones)
Japan's core consumer price index was unchanged in January from a year earlier, government data showed Friday, marking the weakest reading in 16 months and stoking worries about a revival of deflation.
[ Full Story ]- Read the CPI data at Statistics Bureau
- Japan January CPI, Tokyo February CPI Table Of Data (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 27 | 05:00 | JP | Construction Orders (YoY) (Jan) | -38.3% | -27.3% | |
| 05:00 | JP | Housing Starts (YoY) (Jan) | -18.7% | -14.9% | -5.8% | |
| 08:39 | DE | Consumer Price Index (MoM) (Feb)  | 0.3% | -0.5% | ||
| 08:39 | DE | Consumer Price Index (YoY) (Feb) | 0.8% | 0.9% | ||
| 10:00 | EMU | Consumer Price Index − Core (YoY) (Jan) | 1.8% | 1.8% | ||
| 10:00 | EMU | Consumer Price Index (MoM) (Jan) | -0.9% | -0.1% | ||
| 10:00 | EMU | Consumer Price Index (YoY) (Jan) | 1.1% | 1.6% | ||
| 10:00 | EMU | Unemployment Rate (Jan) | 8% | 8% | ||
| 10:30 | CH | KOF Leading Indicator (Feb) | -0.93 | -0.87 | ||
| 13:30 | US | Gross Domestic Product Annualized (4Q) | -5.3% | -0.5% | ||