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Forex Blogs
Forex Trading Today: EUR/USD Prepares for ECB Action with Appreciation by Tim Salem
Our Friend, the Euro… along with the Yen Crosses and Cable and the Aussie… return with Risk Appetite and positive Data during the majority of early Activity in the European Session. Let's bring the EUR/USD back in , as well as the EUR/GBP on the Hourlies to take a look at these Progressions.
The Advisor Blog: Eur/Usd levels by Valeria Bednarik
FX Market Readings: ECB rate decision-expected moves by Dr. S. Sivaraman
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Current Session: Europe − U.S.
Forex: USD/JPY: Dollar tests 99.80 Mar 5 high
FXstreet.com − Dollar rally from 98.35 support level has extended above Apr 1 high at 99.50 reaching March 5 high at 99.80, on the front door of the 100.00 psychological level.
Above 99.80, the Dollar would be at levels not seen since early November, heading towards 100,50 (Nov 4 high). On the downside, support levels stand at 99.50 and 99.00/98.85.
GBP/USD
GBP/USD: The Pound breaks above 1.4640 by FXstreet.com
The Pound continues its hefty upward march, and has just broken resistance at 1.4640 (Mar 26 high), advancing towards the downward trendline off 1.5720 high on Dec 17, located around 1.4680.
USD/JPY
USD/JPY: Dollar breaks trough 98.85/99.00 on early European session by FXstreet.com
The Dollar looks committed to visit higher levels on early European session, USD/JPY has broken through 99.00 level and advances the path towards yesterday's high at 99.50.
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
US FACTORY ORDERS
| Date (GMT) | Event | Cons. | Previous | |
| Apr 2 | 14:00 | Factory Orders | -1.3% | -1.9% |
US economic indicators - Factory orders could have improved somewhat by BHF−Bank
Factory orders were reported to have fallen by 1.9% mom in January, but due to a sharp downward revision in durable goods orders, they are more likely to have gone down by at least 3%. However, they could have improved somewhat by about 1.5% mom in February: we already know that durable goods orders rose by 3.4% mom, mainly as a result of a rebound in defense orders.
[ Full Story ]Top Market Movers Review
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 2 | 11:45 | ECB Interest Rate Decision | 1.25% | 1.00% | 1.50% |
ECB Cuts Refi Rate To 1.25% From 1.50% (Dow Jones)
The European Central Bank Thursday cut its key policy rate by 25 basis points to 1.25%, disappointing expectations for a larger cut. The ECB didn't provide a reason for its decision, but President Jean−Claude Trichet will brief the media at a press conference scheduled for 1230 GMT.
[ Full Story ]- The ECB cuts its main Refi Rate by 25 bp to 1.25% (FXstreet.com)
- ECB cuts 25bp its refi rate to 1.25% (FXstreet.com)
- European markets surge ahead of ECB meeting; Dollar, up against Yen (FXstreet.com)
Sunrise Market Commentary: Currencies - EUR/USD in wait and see mode ahead of the ECB meeting by KBC Bank
Market and News Summary - Euro up slightly, awaiting ECB views on quantitative easing by Charmer Charts.com
Sunrise Market Commentary - ECB set to cut rates to 1%, but focus is on more nonstandard measures by KBC Bank
UK PMI CONSTRUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 2 | 08:30 | PMI Construction | 30.9 | 27.6 | 27.8 |
UK Housing Market Not Yet At Bottom, Depite Price Uplift − RICS (Dow Jones)
The housing market has not reached a bottom yet and has some way to go before it returns to normality, despite a 0.9% uplift in the Nationwide house price index in March, said the Royal Institution of Chartered Surveyors Thursday.
[ Full Story ]- CIPS homepage
- UK Mar Construction PMI rises to 30.9 vs 27.8 (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 2 | 00:00 | G20 Meeting | ||||
| 02:00 | NZ | ANZ Commodity Price (Mar) | 1.0% | -4.6% | ||
| 06:00 | UK | Nationwide Housing Prices n.s.a (YoY) (Feb) | -15.7% | -18.1% | -17.6% | |
| 06:00 | UK | Nationwide Housing Prices s.a (MoM) | 0.9% | -1.5% | -1.8% | |
| 08:30 | UK | PMI Construction (Mar) | 30.9 | 27.6 | 27.8 | |
| 11:45 | EMU | ECB Interest Rate Decision | 1.25% | 1.00% | 1.50% | |
| 12:30 | US | Continuing Jobless Claims (Mar 21) | 5580K | 5560K | ||
| 12:30 | EMU | ECB Trichet's Speech | ||||
| 12:30 | US | Initial Jobless Claims (Mar 28) | 650K | 625K | ||
| 14:00 | US | Factory Orders (Feb) | -1.3% | -1.9% | ||