Monday, Mar 24, 13:57 GMT
U.S. Trading Newsletter
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Majors at a Glance
- EUR/USD
- Back around pivot level 1.5436
03/24/2008 13:54 GMT - GBP/USD
- Back around pivot level 1.9828
03/24/2008 13:54 GMT - USD/CHF
- Back around third resistant level 1.0161
03/24/2008 13:54 GMT - USD/JPY
- Trades above first resistant level 99.87
03/24/2008 13:55 GMT
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US EXISTING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Mar 24 | 14:00 | Existing Home Sales | - | 4.89M |
| Mar 24 | 14:00 | Existing Home Sales (MoM) | - | -0.4% |
Friday Notes - Ending financial meltdown without inflation: FOMC's quandary by HVB Group
The housing contraction tended to taper off during October−January. By February, however, the mortgage market was tightening up for all but the most creditworthy prospective homebuyers purchasing homes in the price range eligible for Fannie or Freddie mortgage guarantees. So February likely saw weaker sales, rising inventories of unsold homes and lower average prices.
[ Full Story ]Top Market Movers Review
UK RIGHTMOVE HOUSE PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 24 | 00:01 | Rightmove House Price Index (MoM) | 0.8% | - | 3.2% |
DATA SNAP: UK House Asking Prices Rise In Mar − Rightmove (Dow Jones)
The average asking price for a home in the U.K. rose for the second consecutive month in March, but sellers are ignoring the reality of increased competition in the market and the growing difficulties buyers face when trying to secure a mortgage, Rightmove said Monday.
[ Full Story ]- Read the House Price Index report at Rightmove website
- UK March house prices rise 0.8 pct from February − Rightmove (Thomson Financial News)
Japan BSI LARGE MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 23 | 23:50 | BSI Large Manufacturing (QoQ) | -12.9 | - | 5.2 |
Japan MOF: Big Co Jan−Mar Index −9.3 Vs Oct−Dec +0.5 (Dow Jones)
Large Japanese firms were more pessimistic about the outlook for the economy in the January−March quarter than they were during the previous period, according to a survey released Monday by the Ministry of Finance. The ministry's large company business sentiment index, which measures the percentage of companies saying that the economy will improve minus those saying it will get worse, was at minus 9.3 in the first quarter, lower than plus 0.5 in the October−December period of last year.
[ Full Story ]- Read the Business Survey Index report at Japan Ministry of Finance
- Japan MOF Jan−Mar Survey of Business Sentiment Table Of Data (Dow Jones)
- Sentiment among large Japanese companies deteriorates in Q1 (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 23 | 23:50 | JP | BSI Large Manufacturing (QoQ) | -12.9 | 5.2 | |
| Mar 24 | 00:01 | UK | Rightmove House Price Index (MoM) (Mar) | 0.8% | 3.2% | |
| 00:01 | UK | Rightmove House Price Index (YoY) (Mar) | 5.0% | 5.8% | ||
| 14:00 | US | Existing Home Sales (Feb) | 4.89M | |||
| 14:00 | US | Existing Home Sales (MoM) (Feb) | -0.4% | |||
| Mar 25 | 12:30 | CA | Retail Sales (MoM) (Jan) | 0.6% | ||
| 12:30 | CA | Retail Sales ex Autos (MoM) (Feb) | -0.4% | |||
| 14:00 | US | Consumer Confidence (Mar) | 75 | |||
| 14:00 | US | Richmond Fed Manufacturing Index (Mar) | -5 | |||
| 21:00 | US | ABC Consumer Confidence (Mar 23) | -31 | |||