Tuesday, Mar 20, 12:19 GMT
U.S. Trading Newsletter
To Get Started
- Get a free seat for the Forex Education Webinar with Rob Booker. Go to the Forum and post a message!
- Special Webinar: Live Coverage of FOMC US Interest Rate Announcement with Jerry Furst
- Check out our special coverage of the Fed Meeting or vote in our Forum Poll: What will Bernanke do with interest rates?
- FXstreet.com Managed Accounts Program (MAP) launches its website
- Check out the rest of our newsletters and subscribe now!
Send us your feedback. Post your comments about the new newsletters' format in the Forum.
Special Webinars
Fundamental and Technical Trading Opportunities that we are Watching
Expert: Boris Schlossberg
Start: Wed, Mar 21, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
Current Session: Europe - U.S.
GBP/USD
GBP/USD intraday chart - GBP/USD extends gains to itnraday overbought territory by FXstreet.com
As you can see in the chart below, Cable continues to trade inside extreme overbought territory intraday after the release of the CPI figures earlier in the morning. Further advance should find resistance around 1.9595/1.9600, where fast shorts could be attempted. 1.9530/40 is only now the first buying area.
- FOREX FORUM: Technical Analysis forum. Post your charts and share your technical point of view.
- Read Tony Juste's latest comments on the USD
- 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:
Technical Analysis Special - GBP/CHF by Mizuho Corporate Bank
Weekly Analysis - Interest rate decisions from BOJ and Fed ahead by Finotec Group Inc.
Forex Daily Analysis - The BOJ decided to leave rates on hold at 0.5% by ForexYard
Majors at a Glance
- EUR/USD
- Second bounced at first support 1.3279 , now trades around 1.3290
03/20/2007 11:39 GMT - GBP/USD
- Trades above third resistant at 1.9569 after good UK CPI news
03/20/2007 11:39 GMT - USD/CHF
- Back to 1.2130 area after rejected at first resistant 1.2162
03/20/2007 11:39 GMT - USD/JPY
- Trades around yesterday high at 117.75 , between today's pivot and first resistant
03/20/2007 11:39 GMT
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
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
US HOUSING STARTS
| Date (GMT) | Event | Cons. | Previous | |
| Mar 20 | 12:30 | Housing Starts (YoY) | 1.450M | 1.408M |
| Mar 20 | 12:30 | Building Permits (MoM) | 1650K | 1571K |
The Week Ahead - Housing Starts & Building Permits, FOMC Policy Announcement, Leading Economic Indicators Index, Existing Home Sales by BBVA Bancomer
Residential construction could have worsened in February, largely affected by unusually colder temperatures. We expect housing starts to decline 1.3% in February to a seasonally adjusted annual rate of 1390K units -the lowest in ten years- 34.8% below the rate of a year earlier.
[ Full Story ]Daily Forex Technical Report - Markets to Focus on UK CPI and US Housing, BoJ on Hold by ActionForex.com
Daily Market Briefing - Dollar Moves Higher Despite Homebuilder Pessimism by FXCM
Top Market Movers Review
Canada BANK OF CANADA CONSUMER PRICE INDEX CORE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 20 | 11:00 | Bank of Canada Consumer Price Index Core (YoY) | 2.4% | 2.1% | 2.1% |
| Mar 20 | 11:00 | Bank of Canada Consumer Price Index Core (MoM) | 0.5% | 0.2% | 0.1% |
Canada’s core CPI increases larger than expected (FXstreet.com)
Core consumer prices have increased larger than expected in the last twelve months to February, posting the highest jump since March 2003, which n might delay if not discard hypothetical plans for rate cuts by the central bank.
[ Full Story ]- Read the Consumer Price Index release at Statistics Canada
- Canada Feb CPI up 2.0 pct yr-on-yr vs 1.2 pct rise in Jan (AFX News)
UK CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 20 | 09:30 | Consumer Price Index (YoY) | 2.8% | 2.7% | 2.7% |
| Mar 20 | 09:30 | Core Consumer Price Index (YoY) | 1.7% | 1.7% | 1.6% |
| Mar 20 | 09:30 | Consumer Price Index (MoM) | 0.4% | 0.3% | -0.8% |
European Market Update - UK CPI Exceeds Expectations by Trade The News
CPI and RPI data exceeded expectations in the UK, with the exception of core CPI, which was in line with estimates. CPI rose to 0.4% m/m and 2.8% y/y, while RPI rose to 0.7% m/m and 4.6% y/y.
[ Full Story ]- Read the February: CPI up to 2.8%, RPI up to 4.6% at National Statistics
- DATAWATCH Odds of UK rate hike in April shorten after inflation data (AFX News)
- UK Feb Consumer Prices Index Table Of Data (Dow Jones)
- Forex - Pound jumps after strong UK inflation figures (AFX News)
US Open Market Points - BOJ Holds Rates Steady; Pound Propelled by Inflation Data by FXCM
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 20 | 11:00 | CA | Bank of Canada Consumer Price Index Core (MoM) (Feb) | 0.5% | 0.2% | 0.1% |
| 11:00 | CA | Bank of Canada Consumer Price Index Core (YoY) (Feb) | 2.4% | 2.1% | 2.1% | |
| 11:00 | CA | Consumer Price Index (MoM) (Feb) | 0.7% | 0.3% | 0.1% | |
| 11:00 | CA | Consumer Price Index (YoY) (Feb) | 2.0% | 1.6% | 1.2% | |
| 12:30 | US | Building Permits (MoM) (Feb) | 1650K | 1571K | ||
| 12:30 | US | Housing Starts (YoY) (Feb) | 1.450M | 1.408M | ||
| Mar 21 | 07:15 | CH | Trade Balance (Feb) | 1.29B | ||
| 08:00 | EMU | ECB's Trichet speaks in Brussels | ||||
| 09:30 | UK | Bank of England Minutes (Mar 8) | ||||
| 12:30 | CA | Retail Sales (MoM) (Jan) | -0.3% | 2.3% | ||