Wednesday, Mar 18, 08:47 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Low Risk Breakout Trading in Forex by Sam Seiden
- All the events of the day in our Economic Calendar
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
Forex Trading Today: Price Action Prepares for FOMC, CPI, BoE Minutes, BoJ, and More! by Tim Salem
A massive Data Point Day… we clock in and begin with the Bank of Japan Interest Rate Decision in about 3 1/2 hours or so… with Consensus widely "Priced−In" with a Hold on Interest Rates at 0.1%. Not surprisingly… Price Action is "Muted" ahead of the Release, but we shall stay with Her since we are now into the Asian Session.
Chartology: A look at the top in the USD/CAD…LOTS of charts! by Raghee Horner
FX Market Readings: Expected market moves for today by Dr. S. Sivaraman
Find other fellow traders to share your comments and market view in the FOREX CHAT
Sponsored by 
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Mar 18, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Mar 18, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Mar 18, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Mar 18, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Mar 18, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Mar 18, 13:00 GMT | Main Fundamental theme in the Currency market | Terri Belkas | WBN |  |
Current Session: Europe
GBP/USD: Bearish reaction on the Pound; falls to 1.3960 intra−week low
FXstreet.com − The Pound has reacted down from the flat channel it has been trading during today's Asian session, breaking through session low at 1.4025, the Pound has dropped about 100 pips to test intra−week low at 1.3960.
Below here, the Pound could drop to Mar 15 low at 1.3890, and then 1.3800 would come into focus. On the upside, rebound from 1.39.60, would have to extend above 1.4025 to test intra−day high at 1.4070.
.
Trading News Report − EUR/USD: Trading the FOMC Interest Rate Decision by CMS Forex
The U.S. dollar is likely to hold its bullish trend against its counterparts over the near−term as the reserve currency continues to reap the benefits of its safe−haven status.
AUD/USD
Daily Recommended Trades − AUDUSD remains in range below key resistance at .6535/50 by E−Forex
The aussie dollar continues to trade into a narrow range below key resistance at .6535/50 formed by the 61.8% retracement of the last downward move from .6850 to .6285.
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
UK JOBLESS CLAIMS CHANGE
| Date (GMT) | Event | Cons. | Previous | |
| Mar 18 | 09:30 | ILO Unemployment Rate (3M) | 6.5% | 6.3% |
| Mar 18 | 09:30 | Average Earnings including Bonus (3Mo/Yr) | 3.0% | 3.2% |
| Mar 18 | 09:30 | Average Earnings excluding Bonus (3Mo/Yr) | 3.5% | 3.6% |
| Mar 18 | 09:30 | Jobless Claims Change | 84.8K | 73.0K |
| Mar 18 | 09:30 | Claimant Count Rate | 4.0% | 3.8% |
Trading News Report - GBP/USD: Trading the U.K. Jobless Claims Change Report by FXCM
The British pound is likely to face increased selling pressure over the week as economists forecast jobless claims in the U.K. to rise another 84.8K in February, and the labor market is likely to weaken further throughout the year as Europe's second largest economy is expected to face its worst recession since World War II.
[ Full Story ]Top Market Movers Review
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 18 | 04:00 | BoJ Interest Rate Decision | 0.1% | 0.1% | 0.1% |
BoJ holds rate steady at 0.10% (FXstreet.com)
Bank of Japan policy board members decided to held interest rates steady at ultra−low levels Wednesday and purchase more government bonds outright to ease financing conditions in the marketplace. The BOJ board also decided to boost its JGB purchases to Y1.8 trillion monthly and Y21.6 trillion annually. That's an increase from the Y1.4 trillion a month and Y16.8 trillion a year set in January.
[ Full Story ]- Read the Rate data at Bank of Japan
- USD/JPY: Yen, at 98.55 resistance level, unaffected by BOJ rate decision (FXstreet.com)
- Japan Outlook: BOJ 2−Day Policy Board Meeting Ends (Dow Jones)
The Week Ahead - Central banks looking for the ammo by X−Trade Brokers, XTB
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 18 | 04:00 | JP | BoJ Interest Rate Decision | 0.1% | 0.1% | 0.1% |
| 05:00 | JP | Coincident Index (Jan) | 89.6% | 89.6% |
||
| 05:00 | JP | Leading Economic Index (Jan) | 77.2 | 77.1 |
||
| 08:15 | CH | Adjusted Real Retail Sales (YoY) (Jan) | 1.2% | 1.8% | 3.6% | |
| 09:30 | UK | Average Earnings excluding Bonus (3Mo/Yr) (Jan) | 3.5% | 3.6% | ||
| 09:30 | UK | Average Earnings including Bonus (3Mo/Yr) (Jan) | 3.0% | 3.2% | ||
| 09:30 | UK | Bank of England Minutes | ||||
| 09:30 | UK | Claimant Count Rate (Feb) | 4.0% | 3.8% | ||
| 09:30 | UK | ILO Unemployment Rate (3M) (Jan) | 6.5% | 6.3% | ||
| 09:30 | UK | Jobless Claims Change (Feb) | 84.8K | 73.0K | ||