EUROPEAN Trading Newsletter

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What moves currencies?
Expert: Tony Juste
Start: Wed, Jan 3, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
Topics
- EUR against the small dollars
- GBP/CHF

Current Session: Europe

GBP/USD

Daily Forex Technical Report - Dollar Vulnerable Ahead of ISM Manufacturing and FOMC Minutes by ActionForex.com

Cable's rally extended to as high as 1.9751 but is still limited by 1.9747 resistance and retreats mildly into European session. As discussed before, break of 1.9618 resistance as well as the short term falling trend line (now at 1.9682) indicates corrective fall from 1.9846 has completed at 1.9433 and hence further rise is expected to follow retest this high.

• Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
• Insight on the fundamentals in the Fundamentals section at FXstreet.com
• What´s next on the agenda? Take a look at our Economic Events Calendar
• What's going on in the markets? Read our latest Forex news

Other Topics for this Session:

Daily Technical Analysis - EUR: Squeezing higher towards 1.3300 by Mizuho Corporate Bank

Today's Trading Idea - Today's Trading Idea by Friend-of-Fxtrend

Forex Technical Analysis - EUR/USD:(1.32278) 1.3244 = neckline ST Double Bottom by KBC Bank

Currencies at a Glance

EUR/USD

Currently trades around 1.3275
1/3/2007 1:36:22 AM

GBP/USD

Continues to trade above 1.9700
1/3/2007 1:39:07 AM

USD/CHF

Continues to trade below 1.2150
1/3/2007 1:41:07 AM

USD/JPY

Continues to trade below 119.00
1/3/2007 1:44:09 AM

Charting the Market Movers

EUR USD, Hourly

EUR JPY, Hourly

Top Market Movers Preview

German Unemployment Rate

EMU economic indicators - Most EMU climate indicators are expected to have deteriorated in December by BHF Bank

German adjusted unemploymentmay have declined markedly again in December. In December, there is often a noticeable rise in unadjusted unemployment, mainly due to the negative effect of winter weather on outdoor jobs. In the last five years, the average increase has been over 150k. However, this year, temperatures remained unseasonably high until the middle of the month. Moreover, as the business climate is improving, companies are more willing to employ staff.

CIPS PMI Construction

• Toni Juste, FX Advisor at FXstreet.com:
  "After the disappointing reading on services PMI, the data for construction will be interesting to measure how much of a cooling-off effect a strong GBP is having in the overall UK economy. Data is expected to be lower than previous, however, an even below-exepctations reading could confirm this start of the year bearish trend for the UK economy, and could set the pace for an overall slow down throughout the present year."