Forex Technical Analysis for Week 03/07—03/11

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Floor Pivots for this Week

Forex News Quoted from: http://www.forexcrunch.com/forex-daily-outlook-march-8-2011/

EUR/USD forecast.

In Great Britain, BOE Governor Mervyn King, due to speak at the Asian Business Association Annual Dinner, in London, As head of the central bank controls short term interest rates and influence the nation’s currency value.

Read more about the Pound in the GBP/USD forecast.

In Australia, Home Loans, new loans granted for owner-occupied homes; is about to reduce by 2/4% and it’s leading indicator of demand in the housing market – most homes are financed, so it provides an excellent gauge of how many qualified buyers are entering the market.

More in Australia, Reserve Bank of Australia (RBA) Assistant Governor (Financial System) Dr. Philip Lowe; due to speak at the Australian Industry Group Forum, in Sydney.

Finally in Australia, Westpac Consumer Sentiment, Survey of about 1,200 consumers to rate the relative level of past and future economic conditions. Is due to remain 1.9%.

For more on the Aussie, read the AUD/USD forecast.

In New Zealand, Real Estate Institute of New Zealand (REINZ), House Price Index (HPI), is due to remain 2.6%. selling price of all homes; leading indicator of the housing industry’s health because rising house prices attract investors and spur industry activity;

In Japan, BOJ Governor Masaaki Shirakawa; due to deliver a speech titled “150 Years of Innovation: Facing Up to Challenges in Monetary Control” at the Goethe University, in Frankfurt.

More in Japan, Core Machinery Orders, value of new private-sector purchase orders placed with manufacturers for machines, excluding ships and utilities; is about to rise by 1.1%.