Trends for Today 01/03/2010

Market Notes:

Fitch’s downgrade Greece’s four largest banks from BBB+ to BBB. Moreover, the ratings outlook is negative, which points to the risk of further downgrades ahead.

US GDP was revised up on Friday to 5.9% QoQ mainly due to inventories and probably will be supporting the return of the risk appetite.
Lots of major fundamental data this week: Canadian, Swiss, Australian GDP and Australian, Canadian, British, Eurozone Interest Rate and the Non Farm Payrolls on Friday.

Daily Trends & Charts

Watch the Fundamentals!(GMT time)


UK House Price Index: -1.0% vs. 0.4% exp.
UK GDP: 0.3% vs. 0.2% exp.
EU CPI: 0.1% as exp.
Swiss Economic Barometer: 1.87 vs. 1.81 exp.
Canadian Current Account: -9.8B vs. -8.7B exp.
US GDP: 5.9% vs. 5.6% exp.
US Existing Home Sales: 5.05M vs. 5.51M exp.


UK Manufacturing PMI at 09:30.
Eurozone Unemployment at 10:00.
Canadian GDP at 13:30.
US Manufacturing PMI at 15:00.


AU Building Approvals at 00:30.
AU Retail Sales at 00:30.
AU Interest Rate Statement at 03:30.
Swiss GDP at 06:45.
CanadianInterest Rate Statement at 14:00.

Good Day!!!
“Trends for today” is presented by Danny Spivak

Risk & Use Disclosure – Important Notice

Risk Disclosure

Trading foreign currencies is a challenging and potentially profitable opportunity for educated and experienced investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. Moreover, the leveraged nature of Forex trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin requirement, your position may be liquidated and you will be responsible for any resulting losses. To manage exposure, you will have to employ risk-reducing strategies such as ‘stop-loss’ or ‘limit’ orders. Disclaimer :Any opinions, news, research, analysis, prices, or other information contained on this forum are provided as general information and commentary by the forum members, and do not constitute investment advice. ForexWebTrader is not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content on this website is subject to change at any time without notice.

Decisions based on the information contained herein are the sole responsibility of the visitor and member of the forum, and in exchange for using the information contained in this website the visitor agrees to hold ForexWebTrader and posters of information and its affiliates harmless against any claims for direct, or indirect, damages for decisions made by the visitor and/or member based fully or partially on such information. Past performance is not a guarantee of future results. Only risk capital should be used to trade Forex or any other type of financial instruments. ForexWebTrader does not assume any responsibilities, make any guarantees whatsoever, or make any financial advisory for your trading decisions. All such investment vehicles carry risks and all trading decisions are ultimately made by you. You are solely and individually responsible for those decisions and the results of those decisions. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets. Do not trade with money you cannot afford to lose.