Wednesday, Mar 21, 11:58 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
24 hour Outlook
Expert: John Putman
Start: Thu, Mar 22, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Current Session: Europe - U.S.
GBP/USD
GBP/USD watch - Cable is moving in a yo-yo fashion by FXstreet.com
Cable is moving in a yo-yo fashion after the release of the Bank of England minutes, and keeps a very neutral and tricky tone that does not favour establishing intraday positions. After the initial dip to 1.9550 on the news, pair spiked up to 1.9620 again, just to immediately fall back down to the current 1.9580 level. This type of price action is not welcome technically speaking, and it is the main reason why I am refraining from any move in it.
- FOREX FORUM: Technical Analysis forum. Post your charts and share your technical point of view.
- Tony Juste's commentaries on GBP's reactions to the BoE minutes
- 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 - EUR/CAD by Mizuho Corporate Bank
Daily Forex Commentary - Handing over the driver’s seat by Jyske Bank
Daily Trend Trade - Daily Trend Trade by FX Trend Trader
Majors at a Glance
- EUR/USD
- Moves down below today's pivot at 1.3305
03/21/2007 09:51 GMT - GBP/USD
- Drops below today's pivot at 1.9556 after BoE minutes of meeting
03/21/2007 09:51 GMT - USD/CHF
- Moves up toward first resistant at 1.2147
03/21/2007 09:51 GMT - USD/JPY
- Moving up toward first resistant at 117.87
03/21/2007 09:51 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, Saxo Bank
[ View ASI page ] [ View GBP/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US FOMC POLICY ANNOUNCEMENT
| Date (GMT) | Event | Cons. | Previous | |
| Mar 21 | 18:15 | FOMC Policy Announcement | - | - |
Fed Meeting Preview by FXstreet.com
US Government is still worried about inflation, but it's not probable that a rate hike is given on the 21st March's Meeting. The last hike was seen on June '06 when they hiked to the actual 5.25%.
- View the past interest rates data on our Economic Time series
- The Advisor Blog: Knock, Knock ... it's the Fed!
- Forum Poll: What will Bernanke do with interest rates?
- Forex - Dollar gains ground in Singapore afternoon trade as FOMC result awaited (AFX News)
FOMC March 20-21st Meeting by BBVA Bancomer
FOMC: Preview of policy meeting by Danske Bank A/S
Top Market Movers Review
UK BANK OF ENGLAND MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 21 | 09:30 | Bank of England Minutes | - | - | - |
European Market Update - BOE Votes 8-1; Blanchflower Votes for Rate Cut by Trade The News
The Bank of England minutes from the March 8 policy-setting meeting showed that the BOE’s monetary policy committee voted 8 to 1 to keep rates unchanged at 5.25%, with Blanchflower representing the dissenting voter.
[ Full Story ]- Read the Minutes of the meeting held on 7 & 8 March at BoE
- UK govt bonds jump on dovish BoE minutes showing one vote for a rate cut (AFX News)
- Forex - Pound slumps after BoE March minutes show one vote for a rate cut UDPATE (AFX News)
- BoE MPC's voted 8-1 to keep rates on hold in March, Blanchflower opted for cut (AFX News)
- Jeremy Stretch, market strategist at Rabobank: "It doesn't look as if they prepared the ground for an imminent rate hike. Sterling should lose a bit of recent allure." - Reuters
US Open Market Points - Dovish MPC Shocks Market But Pound Barely Bruised by FXCM
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 21 | 07:15 | CH | Trade Balance (Feb) | 1.38B | 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% | ||
| 12:30 | CA | Retail Sales ex Autos (MoM) (Jan) | 0.4% | 2.0% | ||
| 18:15 | US | FOMC Policy Announcement | ||||
| 23:50 | JP | Adjusted Merchandise Trade Balance (Feb) | ¥425.6B | ¥1086.2B | ||
| 23:50 | JP | BSI Large Manufacturing (QoQ) (1Q) | 7.1 | |||
| 23:50 | JP | Merchandise Trade Balance Total (Feb) | ¥711.5B | -¥1.9B | ||
| Mar 22 | 09:30 | UK | Retail Sales (MoM) (Feb) | 0.6% | -1.8% | |