Monday, Mar 09, 12:20 GMT
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Forex Blogs
The Advisor Blog: Eur/Usd technical perspective by Tim Salem
The pair can't hold the pressure and is falling dragged by Gbp. Actual candle opened under the 20 SMA and indicators have turned pretty bearish. Consider first support around 1.2550, followed by 1.2510/20, 1.2486 and 1.2456, past week low. Only above 1.2660 the pair could regain some bullish steam to next resistances at 1.2660 tough zone, and 1.2710 level.
FX Market Readings: Euro and GBP corrected to rise later in the day by Dr.S. Sivaraman
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Current Session: Europe − U.S.
Euro and Pound suffer on the week opening on concerns about financial system
FXstreet.com − The Pound has dropped across the board, on decline from 1.4582 intra day high, extends below 1.3955 (Mar 2 low), and the pair enters in the lowest levels seen since Jan 26, and falls straight towards 1.3800.
The EUR/GBP has rallied about 120 pips on the back of a widespread Pound weakness, and from intra−day low at 0.8950, the Pound has broken resistance level at 0.9074 (Feb 12 high), and if the pair manages to hold above here, the way towards 0.9130 (Jan 14 high) would be clear.
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USD/JPY: The Dollar returns towards 100.00 as Japanese economy weakens by FXstreet.com
The Dollar has rallied today against the Yen, recovering almost all the ground lost on Friday, and so far is crawling above 98.90 resistance level, on its way towards −months high at 99.68, as Japanese current account deficit widened.
EUR/USD
Daily Trading Forecast − USD: Decision Time Ahead, Leaving the See−Saw by Swiss e Trade AG
The pair lost territory in early European trading, and is currently approaching the support zone at 1.2600, priced right now at 1.2625. We see this support zone being broken in today's trading, and eventually testing the 1.2550 level.
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
UK INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Cons. | Previous | |
| Mar 10 | 09:30 | Manufacturing Production (YoY) | -9.9% | -10.2% |
| Mar 10 | 09:30 | Industrial Production (MoM) | -1.2% | -1.7% |
| Mar 10 | 09:30 | Manufacturing Production (MoM) | -1.5% | -2.2% |
| Mar 10 | 09:30 | Industrial Production (YoY) | - | -9.4% |
Friday Notes - UK Industrial: Manufacturing recession to ease by UniCredit Group
The contraction in manufacturing production should ease somewhat in January and (throughout the quarter). Surveys indicators have been mixed at the start of the year, with the January manufacturing PMI marking a small rebound before declining again in February and the Confederation of British Industries reading continuing to decline.
[ Full Story ]Top Market Movers Review
Japan ADJUSTED CURRENT ACCOUNT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 8 | 23:50 | Adjusted Current Account | ¥258B | - | ¥557B |
Daily Analysis - The Yen declines as traders see Japan's Current−Account deficit widening by Finotec Group Inc.
The yen declined against the dollar and the euro on concern Japan's economy will deteriorate further after a government report showed the nation posted its first current−account deficit in 13 years in January. The yen fell to 98.73 against the dollar in London today the currency also dropped to 124.87 per euro.
[ Full Story ]- Read the Current Account data at Ministry of Finance
- Japan January Current Account Table Of Data (Dow Jones)
- Japan Registers 1st Current Account Deficit In 13 Years (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 9 | 05:00 | JP | Eco Watchers Survey: Current (Feb) | 19.4 | 17.1 | |
| 05:00 | JP | Eco Watchers Survey: Outlook (Feb) | 26.5 | 22.1 | ||
| 07:15 | CH | Unemployment Rate (Feb) | 3.4% | 3.2% | 3.3% | |
| 07:15 | CH | Unemployment Rate s.a. (Feb) | 3.1% | 3.1% | 3.0% |
|
| 09:30 | EMU | Sentix Investor Confidence (Mar) | -42.70 | -37.80 | -36.13 | |
| 12:15 | CA | Housing Starts s.a (YoY) (Feb) | 134.6K | 148.5K | 153.5K | |
| 21:00 | NZ | NZIER Business Confidence (1Q) | -64 | |||
| Mar 10 | 00:01 | UK | BRC Retail Sales Monitor − All (YoY) (Feb) | 1.1% | ||
| 00:01 | UK | RICS House Price Balance (Feb) | -75.8% | -76.0% | ||
| 00:30 | AU | ANZ Job Advertisements (Feb) | -6.3% | |||