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Forex Blogs
Forex Trading Today: EUR/USD and EUR/JPY Look for Continued Downside Bias in the IntraDay Near−Term by Tim Salem
We look to the "Master of Liquidity and Volume", the Euro, and it's "Cousin" Cross, Euro Yen, to see where we have progressed in accordance with the poor GDP Data Points out of the EuroZone. We used this as a "Catalyst" to break the recent Bullish Momentum and Sentiment in the Near−Term, so let's bring up the Hourly Views here.
The Disciplined Trader: More candle trading… USD Index by Pierre Charlebois
The Advisor Blog: Gbp/Usd technical points by Valeria Bednarik
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| Tue, Apr 7, 16:00 GMT | Unlocking the Forex broker selection confusion | Javier Paz | WBN |  |
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| Wed, Apr 8, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
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Current Session: U.S.
Forex: GBP/USD: Pound, above 1.4750, takes back previous losses
FXstreet.com.com − The Pound is performing a remarkable recovery after having found support at 1.4580 level on late European session, Sterling reaches past 1.4850 taking back all the ground lost on European session.
On its way up, the Pound could face resistance at 1.4775 and, once above here, probably 1.4830 and 1.4880. In case of a downward reaction below 1.4750, 1.4680 could act as next support level and, below here, 1.4640 and 1.4580.
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USD/JPY
Brief test under 100.00 level found enough buyers to hold the downside by FXstreet.com
Brief test under 100.00 level found enough buyers to hold the downside. Longer term time frames suggest downside corrections will remain limited today.
EUR/USD
Forex: EUR/USD: Euro picks up slightly from intra–day low at 1.3225 by FXstreet.com
The Euro has dropped about 140 pips after Euro Zone GDP was released, from levels around 1.3360 to intra−day low at 1.3225, although it has managed to pick up from day low to levels past 1.3250.
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
GBP USD, Hourly
EUR USD, Hourly
Top Market Movers Preview
Germany FACTORY ORDERS S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Apr 8 | 10:00 | Factory Orders n.s.a. (YoY) | -36.5% | -37.9% |
| Apr 8 | 10:00 | Factory Orders s.a. (MoM) | -2.8% | -8.0% |
Friday Notes - Germany new orders: Unprecedented slump in demand by UniCredit Group
Manufacturing companies' assessment of the order situation has stabilized recently, albeit at a still very depressed level. For that reason, we still do not expect a direct recovery following the five very strong declines in the preceding months.
[ Full Story ]Top Market Movers Review
EMU GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 7 | 09:00 | Gross Domestic Product s.a. (YoY) | -1.5% | -1.3% | 0.6% |
| Apr 7 | 09:00 | Gross Domestic Product s.a. (QoQ) | -1.6% | -1.5% | -0.2% |
DATA SNAP: Record Euro−Zone 4Q GDP Drop Bigger Than Expected (Dow Jones)
The record contraction in the euro−zone economy in the fourth quarter was even sharper than initially estimated, fueling fears that it will take longer for the currency block to recover from recession, final official data showed Tuesday.
[ Full Story ]- ECONOMIC REPORT: Euro Zone's Fourth−Quarter Contraction Worse Than Thought (Dow Jones)
- European markets turn into losses on negative GDP data; Euro tumbles (FXstreet.com)
- UPDATE: Record Euro−Zone 4Q GDP Drop Sharper Than Expected (Dow Jones)
EMU economic indicators - GDP: No revision expected by BHF−Bank
UK INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 7 | 08:30 | Industrial Production (MoM) | -1.0% | -1.1% | -2.7% |
| Apr 7 | 08:30 | Manufacturing Production (MoM) | -0.9% | -1.4% | -3.0% |
| Apr 7 | 08:30 | Manufacturing Production (YoY) | -13.8% | -14.2% | -12.9% |
| Apr 7 | 08:30 | Industrial Production (YoY) | -12.5% | -12.5% | -11.6% |
DATA SNAP: UK Mfg Output Sinks For 12th Straight Mo In Feb (Dow Jones)
U.K. manufacturing output declined for the 12th straight month in February, while the quarterly measure recorded its steepest drop since records began in 1968, the Office of National Statistics said Tuesday.
[ Full Story ]- UPDATE: UK Mfg Output Sinks For 12th Mo, Pace Of Drop Slows (Dow Jones)
- UK Feb Industrial Production down 1%, −12.5% YoY (FXstreet.com)
- UK Feb Manufacturing Production falls 0.9%, a bit less than expected; −13.8% YoY (FXstreet.com)
European Market Update - Risk aversion intensifies as UK Manufacturing by TradeTheNews.com
Friday Notes - UK, Industrial Production, manufacturing activity deep in recession by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 7 | 09:00 | EMU | Gross Domestic Product s.a. (QoQ) (4Q) | -1.6% | -1.5% | -0.2% |
| 09:00 | EMU | Gross Domestic Product s.a. (YoY) (4Q) | -1.5% | -1.3% | 0.6% | |
| 19:00 | US | Consumer Credit (Feb) | -$2.5 | $1.8B | ||
| 21:00 | US | ABC/Washington Post Consumer Confidence (Apr 5) | -49 | -49 | ||
| 23:01 | UK | Nationwide Consumer Confidence (Mar) | 45 | 43 | ||
| 23:01 | UK | NIESR GDP Estimate (Mar) | -1.7% | |||
| 23:50 | JP | Adjusted Current Account (Feb) | ¥508.8B | ¥258.0B | ||