Thursday, Apr 10, 15:53 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Webinar videos: Trend Trading - Part 1: Elements of Trend Trading in FX and Futures Markets by Don Wilcox
- Streaming Forex Rates: Interbank liquidity data providers
- Central Banks: ECB and BoE − Review of Apr 10 meetings by FXstreet.com
- ITC 2008 − Barcelona October 29th to 31st. Visit our website!
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Live Sessions Schedule
Live Look at Today's Markets − Free Access Day
Expert: Derek Frey
Start: Thu, Apr 10, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Apr 11, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Apr 10, 17:00 GMT | Live Look at Today's Markets − Free Access Day | Derek Frey | WBN | |
| Fri, Apr 11, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN |  |
| Fri, Apr 11, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN |  |
| Mon, Apr 14, 11:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Mon, Apr 14, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
Current Session: U.S.
EUR/USD
Mid−Day Forex Technical Report − ECB on Hold, BoE Cuts 25bps; EUR/USD & EUR/GBP Made Record Highs by ActionForex.com
EUR/USD's rally from 1.5510 continues today and edges higher to to new record high of 1.5913 earlier. At this point, further rally is still in favor as long as 1.5674 support holds. However, as pointed out before, the structure of the rise from 1.5510 is still not convincing impulsive and is probably just corrective in nature. Hence, sustained trading above 1.5902 is needed to confirm that recent up trend has resumed for next target of 1.6 psychological resistance.
- Covered Carry Trades by S. Wade Hansen, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Currency Performance
Currency Performance Report − Europe Session Performance by FXstreet.com
FX' Signal
Trade Signals − Matsys D Trade Signals by Fxwintrades
Top Market Movers Preview
US FED'S BERNANKE SPEECH
| Date (GMT) | Event | Cons. | Previous | |
| Apr 10 | 17:00 | Fed's Bernanke Speech | - | - |
Forex Daily Analysis - 09/04/'08 − Ears Poised For Bernanke's Speech by ForexYard
The more relevant events of the day will come from two of the FOMC's more influential title holders, as we expect speeches from Dallas Fed President Fisher and Fed President Ben Bernanke. These two should contribute directly Dollar movement, as history has shown us in the past. Expect dollar movement to be some what unknown until midday, where the release of events to come will likely shape the outlook of the day for the dollar.
[ Full Story ]Top Market Movers Review
EMU ECB'S TRICHET SPEECH
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 10 | 12:30 | ECB's Trichet Speech | - | - | - |
Trichet says current ECB rates will help control inflation (Thomson Financial News)
European Central Bank president Jean−Claude Trichet said the current level of ECB interest rates will help control euro zone inflation while tensions in the financial markets may last longer than initially expected.
[ Full Story ]- Read full Jean−Claude Trichet's Introductory statement at ECB
- Dollar Strengthens Vs Euro After Hawkish ECB Briefing (Dow Jones)
- Trichet says ECB views on inflation, growth unchanged from previous meeting (Thomson Financial News)
- Forex − Euro falls after Trichet testimony (Thomson Financial News)
US TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 10 | 12:30 | Trade Balance | -$62.32B | -$57.50B | -$58.96B |
DATA SNAP: US Feb Trade Gap Takes Surprise Turn Upward (Dow Jones)
The U.S. trade deficit took a surprising turn upward in February as imports of cars and consumer goods surged despite the weakness of the economy. The U.S. deficit in international trade of goods and services increased by 5.7% to $62.32 billion from January's revised $58.96 billion, the Commerce Department said Thursday.
[ Full Story ]- Read the Trade Balance data at Commerce department
- US February trade deficit rises 5.7 pct to 62.3 bln usd vs 57.5 bln usd expected (Thomson Financial News)
- US trade deficit widens against expectations in February (FXstreet.com)
- US Trade deficit widens to declines to $−62.32B in Feb (FXstreet.com)
US economic indicators - The trade deficit is likely to have narrowed in February by BHF−Bank
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 10 | 11:00 | BoE Interest Rate Decision | 5.00% | 5.00% | 5.25% |
BOE cuts its current bank rate to 5.00% (FXstreet.com)
The Bank of England has decided to lower its official bank rate by 25 basis points to 5.00% after their monthly Policy Meeting. This decision is taken in a context of high inflation, 2.5% up year on year in February.
[ Full Story ]- Read the report: Bank Rate reduced to 5.0% at BoE
- BoE allocates 11 bln pounds in one−week auction of funds; 27 bln bid for (Thomson Financial News)
- BoE rate cut 'a much needed boost' for retailers, consumers − BRC (Thomson Financial News)
- BoE rate cut 'overdue' and more needed to support UK economy − BCC (Thomson Financial News)
Mid−Day Forex Technical Report − ECB on Hold, BoE Cuts 25bps; EUR/USD & EUR/GBP Made Record Highs by ActionForex.com
Daily Analysis - ECB and BoE will reveal interest rates today by Finotec Group Inc.
Daily Fx Strategy - BoE Cuts, Dollar Tumbles, Euro Soars by CMC Markets
Currencies at a Glance
- EUR/USD
- Moves up above first resistant level 1.5902
04/10/2008 14:12 GMT - GBP/USD
- Back below first resistant level 1.9819
04/10/2008 14:12 GMT - USD/CHF
- Continues to move down below first support level 0.9938
04/10/2008 14:12 GMT - USD/JPY
- Moves down towards third support level 99.93
04/10/2008 14:12 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
GBP USD, Hourly
EUR USD, Hourly
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 10 | 12:30 | EMU | ECB's Trichet Speech | |||
| 12:30 | US | Initial Jobless Claims (Apr 5) | 357K | 385K | 410K |
|
| 17:00 | US | Fed's Bernanke Speech | ||||
| 17:30 | US | ICSC Chain Store sales (YoY) (Mar) | 1.9% | |||
| 18:00 | US | Monthly Budget Statement (Mar) | -80.0B | -96.3B | ||
| 23:50 | JP | Domestic Corporate Goods Price Index (MoM) (Mar) | 0.3% | 0.4% | ||
| 23:50 | JP | Domestic Corporate Goods Price Index (YoY) (Mar) | 3.5% | 3.4% | ||