Monday, Mar 05, 12:06 GMT
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Topics
- US Economic Growth
- Possible Market Impact
Current Session: Europe - U.S.
USD/CHF
Daily Outlook - GBP/USD: Stand aside by Karoll
The current break below 1.9260 signals possible acceleration of the down movement in coming weeks but this idea suggests a firm break below 1.9200 level. From a short term point of view, I think we are close to a temporary bottom and one could expect some retreat with potential target 1.9400 (to test the break of the triangle).
- Read the latest comments on the Pound by Tony Juste
- 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:
Daily Analysis - Yen climbed to 3-month high versus dollar by Finotec Group Inc.
Daily Trade Analysis - EURUSD retracement looking to extend below 1.3100 by AMZ Capital
Daily Technical Analysis - GBP: Down for a third day in a row after some very quiet days by Mizuho Corporate Bank
Majors at a Glance
- EUR/USD
- Continues to trade below 1.3145
3/5/2007 10:07:19 AM - GBP/USD
- Trades below 1.9250
3/5/2007 10:10:31 AM - USD/CHF
- Moves up above 1.2150
3/5/2007 10:12:28 AM - USD/JPY
- Continues to move down below 115.25
3/5/2007 10:15:43 AM
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - GBP/USD
**Source : CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading Ltd. , Mizuho Corporate Bank
[ View ASI page ] [ View GBP/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US ISM NON-MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Mar 5 | 20:00 | ISM Non-Manufacturing | 57.3 | 59.0 |
Friday Notes - Rolling in money by HVB Group
The index will probably show that the services industries continued to expand in February, but the string of weather-related disruptions will restrain the enthusiasm for several industries.
[ Full Story ]- Tony Juste, FX Advisor at FXstreet.com: "The services sector is the one supporting the US economy by some distance, and with the Manufacturing sector now back in expansionary mode (sure?), the services sector could prove the Fed right about a soft landing in the economy. Any reading above 57 should be taken positively by the market." - FXstreet.com
Top Market Movers Review
EMU PMI - SERVICES INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 5 | 14:30 | PMI - Services Index | 57.4 | 58.8 | 59.2 |
| Mar 5 | 14:00 | PMI - Services Index | 57.5 | 58.0 | 57.9 |
| Mar 5 | 13:55 | PMI - Services Index | 57.2 | 58.0 | 58.3 |
Euro-Zone Feb Services PMI 57.5 Vs 57.9 In Jan - Sources (Dow Jones)
The purchasing managers index for the euro zone's dominant service sector fell to 57.5 in February from 57.9 in January, market sources said Monday. The decline in the PMI was larger than expected.
[ Full Story ]- UPDATE: Euro-Zone Feb Services PMI 57.5 Vs 57.9 In Jan (Dow Jones)
- Euro Zone Services PMI dips in February to 57.5 from 57.9 (FXstreet.com)
- Jacques Cailloux, RBS Chief Euro Area Economist: "The pattern of growth remained well-balanced, as both manufacturing and service sectors continued to show similar strong rates of expansion." - FinFacts
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 5 | 08:55 | DE | PMI - Services Index (Feb) | 57.2 | 58.0 | 58.3 |
| 09:00 | EMU | PMI - Services Index (Feb) | 57.5 | 58.0 | 57.9 | |
| 09:30 | GB | PMI - Services Index (Feb) | 57.4 | 58.8 | 59.2 | |
| 15:00 | US | ISM Non-Manufacturing (Feb) | 57.3 | 59.0 | ||
| Mar 6 | 01:30 | JP | Bank Lending Banks Adjusted (YoY) | |||
| 10:00 | EMU | Gross Domestic Product s.a. (QoQ) (4Q)  | 0.9% | 0.9% | ||
| 10:00 | EMU | Gross Domestic Product s.a. (YoY) (4Q) | 3.3% | 3.3% | ||
| 10:00 | EMU | Retail Sales (MoM) (Jan) | -0.4% | 0.3% | ||
| 10:00 | EMU | Retail Sales (YoY) (Jan) | 1.3% | 2.1% | ||
| 15:00 | US | Factory Orders (Jan) | -1.8% | 2.4% | ||