Thursday, Mar 05, 12:19 GMT
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Forex Blogs
The Advisor Blog: Eur/Usd technical points by Valeria Bednarik
Well, no much difference form yesterday's post here, the pair remains bearish despite yesterday's spike to our last resistance level at 1.2660. Remember I always pay attention to the 20 SMA? (red here in the chart) well, see how it lost some bearish momentum and begins to turn flat. If price manages to close the day above it, will be a good fist signal of turning up.
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| Thu, Mar 5, 14:00 GMT | Tracking the forex market together / Part II  | Dr.S.Sivaraman | WBN |  |
| Thu, Mar 5, 15:00 GMT | FX Market Pulse | Raghee Horner | WBN | |
| Thu, Mar 5, 16:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN | |
| Thu, Mar 5, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
Current Session: Europe − U.S.
GBP/USD: Pound falls towards 1.4090 level ahead of BoE rate decision
FXstreet.com − The GBP is under pressure against its major rivals in the minutes before the BoE interest Rate decision. The market expect a rate cut of 50 basis points to 0.50%, the lowest level of the BoE history.
The GBP/USD has fallen more than 150 in the European session from the 1.4233, today's high, to the 1.4080, todays low, currently, the pair momentum looks bearish and it is toward lower levels.
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Daily Trading Forecast − The pair is in retreat ahead of the interest rate decision of the ECB by Swiss e Trade AG
Currently trading at 1.2560, the pair is in retreat ahead of the interest rate decision of the ECB at 13:45 CET today. Short−term oversold now, we do not expect significant downside risk, rather only a testing of the important 1.2500 level,
USD/CHF
Daily Forex News − Failure to reach 1.1885 key reversal level implies downside risk by ACM − Advanced Currency Markets
Failure to reach 1.1885 key reversal level implies downside risk. Intra day support stand at 1.1665 21d ma. Mid term consolidation between 1.1885 and 1.1463 favors continuation of uptrend.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Mar 5 | 12:45 | ECB Interest Rate Decision | 1.5% | 2.0% |
ECB Preview: Focus on quantitative easing by Danske Bank A/S
We look for a 50bp cut to 1.5% and a fairly dovish statement at Thursday's ECB meeting, which keeps the door open for a further reduction in rates to at least 1.0%. ECB rarely surprises and all 55 analysts in a Bloomberg survey expect a 50bp cut, which is a probable outcome although one could argue for an even bigger cut.
[ Full Story ]Asian Session − Markets Wait on BoE & ECB by ACM − Advanced Currency Markets
Trading News Report - EUR/USD: Trading the European Central Bank Interest Rate Decision by FXCM
Top Market Movers Review
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 5 | 12:00 | BoE Interest Rate Decision | 0.5% | 0.5% | 1.0% |
Bank of England Cuts Rates To 0.5%; To Buy GBP75B Securities (Dow Jones)
The Bank of England Thursday became the first European central bank to implement quantitative easing policy, as it announced it would buy up to GBP75 billion mostly in medium and long−term gilts over the next three months.
[ Full Story ]- Read the Official Statement at BoE
- GBP/USD: Pound reacts dropping below 1.4090 to BoE rate cut (FXstreet.com)
- The BoE cuts 50bp its Interest Rate to 0.5% (FXstreet.com)
- GBP/USD: Pound falls towards 1.4090 level ahead of BoE rate decission (FXstreet.com)
Asian Session − Markets Wait on BoE & ECB by ACM − Advanced Currency Markets
Daily Market Report - With most participants expecting a record low cut from the central bank by Wachovia
ECB and BOE are expected to cut rates Thursday by Easy Forex
UK HALIFAX HOUSE PRICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 5 | 09:00 | Halifax House Prices (MoM) | -2.3% | -2.2% | 1.9% |
| Mar 5 | 09:00 | Halifax House Prices (YoY) | -17.7% | -17.7% | -17.2% |
DATA SNAP: UK Feb House Prices −2.3%MM, −17.7%YY: Halifax (Dow Jones)
U.K. house prices slumped in February, more than reversing the monthly gain reported in January, while the year−on−year decline deepened to yet another new record low, lender Lloyds Banking Group said Thursday.
[ Full Story ]- Read the HPI data at Halifax
- UPDATE: UK House Prices Sink To Fresh Record Low In Feb (Dow Jones)
- UK Halifax House Prices declines by 2.3% in February, −17.7% in a YoY basis (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 5 | 07:00 | DE | Retail Sales (YoY) | -1.3% | -0.7% | -0.3% |
| 09:00 | UK | Halifax House Prices (MoM) | -2.3% | -2.2% | 1.9% | |
| 09:00 | UK | Halifax House Prices (YoY) (Feb) | -17.7% | -17.7% | -17.2% | |
| 10:00 | EMU | Gross Domestic Product s.a. (QoQ) (4Q)  | -1.5% | -1.5% | -0.2% | |
| 10:00 | EMU | Gross Domestic Product s.a. (YoY) (4Q) | -1.3% | -1.2% | 0.6% | |
| 12:00 | UK | BoE Interest Rate Decision | 0.5% | 0.5% | 1.0% | |
| 12:45 | EMU | ECB Interest Rate Decision | 1.5% | 2.0% | ||
| 13:30 | EMU | ECB Trichet's Speech | ||||
| 13:30 | US | Nonfarm Productivity (4Q) | 1.5% | 3.2% | ||
| 13:30 | US | Unit Labor Costs (4Q) | 3.5% | 1.8% | ||