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EUROPEAN Trading Newsletter
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Topics
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Current Session: Europe
EUR/USD
Forex Technical Analysis - EUR/USD:(1.3365) Has approached 1.3422 (2nd target of MT Daily Double Bottom off 1.2939) by KBC Bank
New year high has approached 2nd target of the Medium Term daily Double Bottom off 1.2939 (1.3422), with pair currently back above 1.3317 (monthly Downtrendline off 1992 on synthetic charts).
- Follow-through action post-ISM by Tony Juste
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
- Be up to date with the Latest Forex News
- Read the comments to the latest market moves at our Forex Forum
Other Topics for this Session:
Daily Recommended Trades - EUR/USD daily outlook by E-Forex
Currency Journal: Cable up over Shadow MPC rate hike by Performance Capital
Forex Market Outlook on Majors - Forex Market Outlook on Majors by AceTrader
Currencies at a Glance
- EUR/USD
- Floating around opening price level at 1.3367 , above today's pivot at 1.3359
04/03/2007 07:12 GMT - GBP/USD
- Moves up above 1.9800 toward first resistant at 1.9829
04/03/2007 07:12 GMT - USD/CHF
- Moves up above 1.2160 , above today's pivot at 1.2148
04/03/2007 07:12 GMT - USD/JPY
- Moves up above 118.25 toward second resistant at 118.38
04/03/2007 07:12 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - USD/JPY
**Source : CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading Ltd. , KBC Bank, Mizuho Corporate Bank, Saxo Bank
[ View ASI page ] [ View USD/JPY page ]
Charting the Market Movers
EUR USD, Hourly
USD JPY, Hourly
Top Market Movers Preview
EMU PRODUCER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Apr 3 | 09:00 | Producer Price Index (YoY) | 2.7% | 2.9% |
| Apr 3 | 09:00 | Producer Price Index (MoM) | 0.3% | 0.1% |
Daily Trade Analysis - Over-Bought EURUSD looking to target 1.3400 level by AMZ Capital
[ Full Story ]- Tony Juste, FX Advisor at FXstreet.com: "As a means to divise whether the ECB prospects for this 2007 when it comes to inflation are correct or not, the PPI data will be key to spot if the further tightening move expected before the end of the 1st half of 2007 will be an appropiate one or not. It is a take or break situation by the ECB, playing with fire if inflation doesn't pose the real threat they re telling us." - FXstreet.com
Top Market Movers Review
Australia TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 3 | 01:30 | Trade Balance | -838M | -1254M | -832M |
Asia Market Update - Aussie exports surge in February on Asian demand for commodities by Trade The News
Aussie exports come in stronger than expected as markets get ready for RBA rate decision: (AU FEB TRADE BALANCE: -838M V -1.1B expected; Prior revised to -832M from -876M).
[ Full Story ]- Read the Trade Balance report at Australian Bureau of Statistics
- DATA SNAP: Australia Feb Trade Deficit A$838M -2- (Dow Jones)
- DATA SNAP: Australia Feb Trade Deficit A$838M (Dow Jones)
- Forex - US dollar mixed in Sydney morning trade on data watch (AFX News)
Weekly Commentary - That was the year that was by Westpac Institutional Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 3 | 01:30 | AU | Trade Balance (Mar) | -838M | -1254M | -832M |
| 05:45 | CH | Consumer Price Index (MoM) (Mar) | 0.1% | 0.2% | 0.2% | |
| 05:45 | CH | Consumer Price Index (YoY) (Mar) | 0.2% | 0.3% | 0% | |
| 09:00 | EMU | Producer Price Index (MoM) (Feb) | 0.3% | 0.1% | ||
| 09:00 | EMU | Producer Price Index (YoY) (Feb) | 2.7% | 2.9% | ||
| 23:01 | UK | Nationwide Consumer Confidence (Mar) | 85 | |||
| 23:30 | AU | RBA Rate Decision | 6.25% | 6.25% | ||
| Apr 4 | 07:55 | DE | Purchasing Manager Index Services (Mar) | 57.4 | 57.2 | |
| 08:00 | EMU | Purchasing Manager Index Services (Mar) | 57.6 | 57.5 | ||
| 08:30 | UK | PMI - Services Index (Mar) | 57.6 | 57.4 | ||