Monday, Mar 03, 12:07 GMT
U.S. Trading Newsletter
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Live Sessions Schedule
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Mar 3, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading the Ichimoku Cloud and the JPY pairs
Expert: Chris Capre
Start: Mon, Mar 3, 17:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Mar 3, 12:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Mon, Mar 3, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Mar 3, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Steve Primo | WBN |  |
| Mon, Mar 3, 17:00 GMT | Trading the Ichimoku Cloud and the JPY pairs | Chris Capre | WBN | |
Current Session: Europe − U.S.
USD/JPY
Forex Daily Analysis − 03/03/'08 − Greenback Bears Firmly On Top by ForexYard
The trading week opened today with the JPY gaining against most of the traded currencies. At 7:00 GMT, The JPY obtained a fresh three−year high against the USD as it traded at 102.90 JPY. The JPY also gained 0.55% against the EUR and 0.92% against the GBP.
USD/JPY
The pair is going through a massive bearish trend, as the daily chart shows 6 consecutive sharp falling bars. There is a bullish cross forming on the daily chart, yet it's still in early stages. The 4 hour chart indicates on the continuation of the bearish trend locally, making it preferable for Forex traders to buy on dips.
- Price Patterns by S. Wade Hansen, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Forex Technical Report − Forex Technical Report GBP/USD by iFOREX.bg
Majors at a Glance
- EUR/USD
- Trades below pivot level 1.5186
03/03/2008 12:01 GMT - GBP/USD
- Stays below pivot level 1.9865
03/03/2008 12:01 GMT - USD/CHF
- Back around opening price level 1.0406 , below pivot level 1.0446
03/03/2008 12:02 GMT - USD/JPY
- Trades below first support level 103.14
03/03/2008 12:03 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US ISM MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Mar 3 | 15:00 | ISM Manufacturing | 48.5 | 50.7 |
US economic indicators - Both ISM indices could still indicate contraction in February by BHF−Bank
We expect the ISM manufacturing index to have fallen back significantly to about 46.0 in February: the Small Business Optimism Index, which is often regarded as a forerunner, declined sharply in January, and the manufacturing surveys of the New York and the Philadelphia Fed were significantly negative.
[ Full Story ]- Ahead of the Bell: Manufacturing ISM (Thomson Financial News)
- OUTLOOK Highlights of US economic indicators to be released in the coming week (Thomson Financial News)
Daily Analysis - Dollar's slides Vs. Majors ahead to ISM Survey by Finotec Group Inc.
ISM monitor:Comments on recent development by Danske Bank A/S
Top Market Movers Review
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 3 | 10:00 | Consumer Price Index (YoY) | 3.2% | 3.2% | 3.2% |
DATA SNAP: Euro−Zone Feb CPI Holds At Record High Of 3.2% (Dow Jones)
Euro−zone inflation held steady at a record high of 3.2% for the second consecutive month in February, suggesting the European Central Bank won't be able to cut interest rates soon.
[ Full Story ]- Read the report: Euro area inflation estimated at 3.2 % at Eurostat
- UPDATE: Euro−Zone Feb CPI Holds At Record High Of 3.2% (Dow Jones)
- Euro zone February prov HICP up 3.2 pct vs 3.2 in January (Thomson Financial News)
- Euro Zone CPI, estimated to have risen 3.2% year−on−year in February (FXstreet.com)
UK PMI MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 3 | 09:30 | PMI Manufacturing | 51.3 | 51.0 | 50.7 |
DATA SNAP: UK February Mfg PMI 51.3 Vs 50.7 In Jan − Sources (Dow Jones)
Activity in the U.K.'s manufacturing sector picked up in February, making a cut in interest rates at this week's meeting of the Bank of England's Monetary Policy Committee more unlikely.
[ Full Story ]- NTC Economics homepage
- UPDATE: UK February Mfg PMI 51.3 Vs 50.7 In Jan (Dow Jones)
- UK Feb manufacturing PMI rises to 51.3, pricing pressures mount − sources UPDATE (Thomson Financial News)
- UK CIPs Feb manufacturing PMI rises to 51.3 vs revised 50.7 in Jan − sources (Thomson Financial News)
Friday Notes - Inflation – A major headache for the ECB by HVB Group
EMU PMI MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 3 | 09:00 | PMI Manufacturing | 52.3 | 52.3 | 52.8 |
Euro zone Feb manufacturing PMI confirmed at 52.3 − sources UPDATE (Thomson Financial News)
The final estimate of a key euro zone manufacturing survey confirmed that growth in the sector slowed during February although pricing pressures are mounting by even more than originally expected, according to sources.
[ Full Story ]- NTC Economics homepage
- Euro zone Feb manufacturing PMI confirmed at 52.3 − sources (Thomson Financial News)
- DATA SNAP: Euro−Zone Feb Mfg PMI 52.3 Vs 52.8 In Jan−Sources (Dow Jones)
- Euro Zone PMI declines to 52.3 in February from 52.8 in January (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 3 | 05:30 | AU | RBA Commodity Index SDR (YoY) (Feb) | 8.6% | 5.2% | |
| 08:30 | CH | SVME − Purchasing Managers' Index (Feb) | 60.5 | 60.5 | 61.6 |
|
| 08:55 | DE | PMI Manufacturing (Feb) | 54.3 | 54.0 | 54.4 | |
| 09:00 | EMU | PMI Manufacturing (Feb) | 52.3 | 52.3 | 52.8 | |
| 09:30 | UK | PMI Manufacturing (Feb) | 51.3 | 51.0 | 50.7 |
|
| 10:00 | EMU | Consumer Price Index (YoY) (Feb)  | 3.2% | 3.2% | 3.2% | |
| 13:30 | CA | Gross Domestic Product (MoM) (Dec) | -0.1% | 0.1% | ||
| 13:30 | CA | Gross Domestic Product Annualized (QoQ) (4Q) | 1.0% | 2.9% | ||
| 15:00 | US | Construction Spending (MoM) (Jan) | -0.7% | 1.1% | ||
| 15:00 | US | ISM Manufacturing (Feb) | 48.5 | 50.7 | ||