Wednesday, Jul 01, 15:44 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Learning Center: New chapter online: Fundamental Analysis. Read it now!
- WEBINAR VIDEOS: Market harmonics and Forex Trading by Derek Frey
- All the events of the day in our Economic Calendar
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Forex Blogs
The Advisor Weblog: Euro/Usd pushing 1.4100 by Valeria Bednarik
Pair regained the upside, and Euro is back above 1.4100. Watch the 1.4150/60 zone, that should halt current rally. Clear break above that level, will appoach the pair to the 1.4200 level, tops for today. Under 1.4085, supports will come at 1.4040/50 and 1.4010.
CEO'S Weblog: Facing the New NFA Regulation - Laying the Pave for a New Forex Industry in the U.S. by Francesc Riverola
Trading for a Living: German Retail Sales Rise For 3rd Straight Month by David Aranzabal
Share your opinions with your fellow traders at FXstreet.com Forum
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Live Sessions Schedule
Trading Day's Live Wrap Up
Expert: Valeria Bednarik
Start: Wed, Jul 1, 22:30 GMT
Type of Session: Webinar
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 38th Edition
Expert: Wayne McDonell
Start: Thu, Jul 2, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jul 1, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN |  |
| Wed, Jul 1, 16:00 GMT | Institutional Trading Strategies | Andrei Pehar | WBN | |
| Wed, Jul 1, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN | |
| Thu, Jul 2, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Thu, Jul 2, 11:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 38th Edition | Wayne McDonell | WBN | |
Current Session: U.S.
Euro regained the upside against Dollar after bad U.S. data
FXstreet.com Independent Analyst − EUR/USD has reached an intraday high of 1.4135. Hourly indicators seem a bit exhausted to the upside, thus as long as corrections remain above 1.4100, chances remain to the upside for the next hours, as bigger time frames also support the continuation. Pair broke 20 SMA both in 1 and 4 charts, and both are gaining bullish slope, supporting the bias.
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USD/CAD
USD to CAD − Daily Chart by Master The Markets
Future direction for the usd to cad depends to a great extent on the outcome of tomorrow's NFP numbers and ECB interest rate decision. In the meantime today has seen the release of the ADP figures which have come in far worse than expected which may well be a portent for tomorrow's key number.
EUR/USD
Timeframe Breakdowns − GBPUSD 4 HR trend line is at 16440 by Ian G Coleman
We broke out of the downward channel (−11 degrees – corrective) only to be met by the resistance level at 141.48. The 4hr MACD trend line held true and we have pulled back lower. We have made a large triangle formation (bullish signal) with EURUSD making higher highs.
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
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Jul 2 | 11:45 | ECB Interest Rate Decision | - | 1% |
ECB preview: It could be a non−event by Danske Bank A/S
We are confident that the ECB will leave the refinancing rate unchanged at 1.0%. We expect the ECB to keep rates unchanged for a prolonged period before they begin to hike. The focus will therefore be on the press conference. We will look for signs that the ECB rhetoric is becoming more positive, but we don't expect much. We do not anticipate the ECB to announce additional measures or top up on already announced measures. All in all, this might be a relatively dull ECB meeting − for a change.
[ Full Story ]Top Market Movers Review
US CONSTRUCTION SPENDING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 1 | 14:00 | Construction Spending (MoM) | -0.9% | -0.5% | 0.6% |
DATA SNAP: US May Construction Down 5th Time In 6 Months (Dow Jones)
[ Full Story ]- Read the Construction Spending data at Census Bureau
- US May Construction Spending falls 0.9% (FXstreet.com)
- Table Of Data On Construction Spending From Commerce (Dow Jones)
Market Session Recaps - London Session by FOREX.com
Forex Trading Strategies - Dovish comments from Fed's Yellen put the brakes on the dollar's rebound by Saxo Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 1 | 14:00 | US | ISM Manufacturing (Jun) | 44.8 | 46.8 | 42.8 |
| 14:30 | US | EIA Crude Oil Stocks change | -3.7M | -1.6M | -3.8M | |
| 23:50 | JP | Monetary Base (YoY) (Jun) | 8.1% | 7.9% | ||
| Jul 2 | 01:30 | NZ | ANZ Commodity Price (Jun) | 2.7% | ||
| 01:30 | AU | Trade Balance (May) | -125.00M | -0.09B | ||
| 08:30 | UK | PMI Construction (Jun) | 46.0 | 45.9 | ||
| 09:00 | EMU | Producer Price Index (MoM) (May) | 0.1% | -1.0% | ||
Educational Resources
Non−Farm Payrolls Data is the most influential Data Point Figure released for ALL Financial Markets… due to the actual Numbers, Volatility, and Expectation. The Data is released by The Bureau of Labor Statistics every first Friday of the Month at approximately 12:30 GMT. Reactions to the Initial Release of NFP can cause deep Volatility as Sentiment and Expectation is measured in Real−Time
Related Resources
Register here for Trade Non-Farm Payrolls LIVE - 38th Edition Live session on Thu, Jul 2 2009 at 11:30 GMT
Live Coverage of this month's NFP with Nick Nasad from the Homepage of FXstreet.com: Thursday 2nd July at at 11:15 GMT - 07:15 EDT
Other Tim Salem's Reports on Fundamental Forex Foundations Report