Wednesday, Mar 19, 11:50 GMT
U.S. Trading Newsletter
To Get Started
- Webinars VIDEOS: Weekly Technical Briefing by Dan Blystone
- European Market Update by Trade The News
- Central Banks: Fed − Mar 18 Meeting: 75bp rate cut by FXstreet.com
- FX Trader of the Year 2008 − Second week ranking
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Live Sessions Schedule
Main Fundamental theme in the Currency market
Expert: Kathy Lien
Start: Wed, Mar 19, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Each Currency Based On Its Unique Relative Strength
Expert: Adam Rosen
Start: Wed, Mar 19, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Mar 19, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Mar 19, 13:00 GMT | Main Fundamental theme in the Currency market | Kathy Lien | WBN | |
| Wed, Mar 19, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Wed, Mar 19, 14:00 GMT | Forex Mysteries Revealed | S. Wade Hansen | WBN |  |
Current Session: Europe − U.S.
EUR/USD
Daily Analysis − Dollar slides as Fed cuts rates by 75 basis points /url] by Finotec Group Inc.
The dollar fell against the Euro, losing most of yesterday's gains, as the US Federal Reserve cut borrowing rates by 75 basis points to 2.25%. The FOMC statement indicated the Fed are mainly concerned about inflation and expects the financial markets to remain under considerable stress. Euro gains were supported by speculation the worst U.S. housing slump in twenty five years will amass credit−market losses.
Other Topics for this Session:
Daily Forex News − Dollar posted gains after Fed cut benchmark rate by a less than expected 75bp to 2.25% by ACM − Advanced Currency Markets
Currency Performance
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
Majors at a Glance
- EUR/USD
- Moves up above pivot level 1.5690
03/19/2008 11:35 GMT - GBP/USD
- Moves up above pivot level 2.0104
03/19/2008 11:36 GMT - USD/CHF
- Trades around pivot level 0.9953
03/19/2008 11:38 GMT - USD/JPY
- Trades around pivot level 99.00
03/19/2008 11:49 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 EIA CRUDE OIL STOCKS
| Date (GMT) | Event | Cons. | Previous | |
| Mar 19 | 14:30 | EIA Crude Oil Stocks | - | 6.2M |
Ahead of the Bell: Oil Inventory (Thomson Financial News)
Government data released Wednesday is forecast to show that crude−oil inventories rose last week for the second straight period. The Energy Department's forecasting arm, the Energy Information Administration, publishes petroleum inventory data for the week ended March 14 at 10:30 a.m. EDT. Analysts expect oil stockpiles grew last week by 2.1 million barrels, according to a survey by Dow Jones Newswires. For the week ended March 7, crude−oil inventories rose by 6.2 million barrels, or 2 percent, to 311.6 million barrels, which were 2.8 percent below year−ago levels.
[ Full Story ]Top Market Movers Review
EMU TRADE BALANCE S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 19 | 10:00 | Trade Balance s.a. | -€2.0B | - | -€1.8B |
| Mar 19 | 10:00 | Trade Balance n.s.a. | -€10.7B | -€7.0B | -€4.1B |
Euro zone Jan trade deficit 10.7 bln eur vs deficit 4.1 bln in Dec (Thomson Financial News)
The euro zone posted a provisional unadjusted trade deficit of 10.7 bln eur in January compared with a revised deficit of 4.1 bln in December, EU statistics office Eurostat said.
[ Full Story ]- Read the report: Euro area external trade deficit 10.7 bn euro at Eurostat
- UPDATE: Euro−Zone Posts Record Trade Deficit In January (Dow Jones)
- Euro Zone trade deficit widened in January (FXstreet.com)
- DATA SNAP: Euro−Zone Trade Deficit Yawns Wider In January (Dow Jones)
EMU economic indicators - The RBS purchasing managers' index for the EMU manufacturing sector by BHF−Bank
UK BANK OF ENGLAND MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 19 | 09:30 | Bank of England Minutes | - | - | - |
BoE MPC voted 7−2 to keep rates steady at 5.25 pct (Thomson Financial News)
Bank of England rate setters voted 7−2 to keep interest rates on hold at 5.25 pct on March 6, with Deputy governor John Gieve and arch−dove David Blanchflower calling for a quarter point reduction.
[ Full Story ]- Read the MPC Minutes at BoE
- BoE denies it is to have emergency meeting to discuss UK institution UPDATE (Thomson Financial News)
- UPDATE: Talk MPC Canceling Easter Break "Absolute Rubbish" (Dow Jones)
- BoE MPC voted 7−2 to keep rates steady at 5.25 pct UPDATE (Thomson Financial News)
Daily Forex Technical Report − GBP to Take Center Stage as Focus Turns to BOE Minutes by ActionForex.com
UK ILO UNEMPLOYMENT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 19 | 09:30 | Claimant Count Rate | 2.5% | 2.5% | 2.5% |
| Mar 19 | 09:30 | Jobless Claims Change | -2.8 | -5.0 | -10.8 |
| Mar 19 | 09:30 | ILO Unemployment Rate | 5.2% | 5.2% | 5.2% |
DATA SNAP: UK Unemployment Falls Again But Below Expectations (Dow Jones)
U.K. unemployment fell for the 17th month running in February, but the decline in the widely watched claimant count was the smallest since October 2006. The number of people claiming benefits dropped 2,800 in February to its lowest level since June 1975.
[ Full Story ]- Read the Labour market statistics at National Statistics
- UPDATE: UK Unemployment Falls Again But Below Expectations (Dow Jones)
- UK unemployment falls again in February, but at slowest rate in 15 months (Thomson Financial News)
- United Kingdom 3 months to Jan Average Earnings excluding Bonus, flat at 3.7% (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 19 | 10:00 | EMU | Construction Output s.a (MoM) (Jan) | 1.6% | -0.2% |
|
| 10:00 | EMU | Construction Output w.d.a (YoY) (Jan) | 1.6% | -3.2% | ||
| 10:00 | EMU | Trade Balance n.s.a. (Jan) | €-10.7B | -€7.0B | -€4.1B |
|
| 10:00 | EMU | Trade Balance s.a. (Jan) | €-2.0B | -€1.8B |
||
| 11:00 | UK | CBI Industrial Trends Survey − Orders (MoM) (Mar) | 7% | 3% | ||
| 11:00 | US | MBA Mortgage Applications (Mar 14) | -2.9% | -1.9% | ||
| 12:30 | CA | Wholesale Sales (MoM) (Jan) | 0.8% | -2.9% | ||
| 14:30 | US | EIA Crude Oil Stocks | 6.2M | |||
| Mar 20 | 00:30 | AU | New Motor Vehicle Sales (MoM) (Feb) | 0.6% | ||
| 00:30 | AU | New Motor Vehicle Sales (YoY) (Feb) | 7.2% | |||