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Current Session: Europe
GBP
Today's Trading Idea by Friend-of-Fxtrend
GBP has made a five wave up and then retraced 1 wave down to 9666. It looks like Cable is going to trace a 3 wave down before further advancement. Wave 'a' has been traced from 9820 to 9666. now we may see a wave 'b' from 9666 to 9760 ( 61.8%) or max upto 9785 ( 78.6%) or 9820 ( FLAT corrective) but from there a wave 'c' should be going down below 9666 targetting 9580 either today or next week.
[ Full Story ]- Discover our new blog: Inside technicals and chart patterns by Raghee Horner
- 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:
Forex Commentaries and Forecasts - Forecast for the USDJPY trading during April-May 2007 by World-Signals®
Currency Majors Technical Analysis by Mataf.net
Daily Recommended Trades - EUR/USD daily outlook by E-Forex
Currencies at a Glance
- EUR/USD
- Trades slightly above today's pivot at 1.3407
04/06/2007 07:18 GMT - GBP/USD
- Continues to trade below today's pivot at 1.9715
04/06/2007 07:18 GMT - USD/CHF
- Trades around today's pivot at 1.2161
04/06/2007 07:18 GMT - USD/JPY
- Continues to trade around today's pivot at 118.71
04/06/2007 07:18 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
US NONFARM PAYROLLS
| Date (GMT) | Event | Cons. | Previous | |
| Apr 6 | 12:30 | Nonfarm Payrolls | 118K | 97K |
Spotlight on your Forex Week - Will NFP Save the Dollar from Further Losses? by Windfall Management
With the Easter Holidays just around the corner we might see a lot of trading volume this week, as Non Farm Payroll Data come out this Friday. Dollar bulls are waiting for this news with great anticipation, as they are hoping the number will be strong enough to boost the dollar and give it its long awaited chance to break higher.
[ Full Story ]Daily Fx Strategy - EUR Dominates FX, Watch Unemp. Rate Tomorrow by CMC Markets NY
Daily Forex Outlook - U.S. Dollar Trading slid against all other majors on Monday as markets await Friday’s jobs data by Easy Forex
Top Market Movers Review
Japan LEADING ECONOMIC INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 6 | 05:00 | Leading Economic Index | 30.0% | - | 40.9% |
Japan Feb leading index 30.0 vs 40.9 in Jan; coincident index 16.7 vs 45.0 (AFX News)
The index of leading economic indicators fell to 30.0 in February from 40.9 in January, but above market expectations, preliminary data from the Cabinet Office showed. Economists on average forecast the leading index would come in at 5.6 for January. A reading above 50 points to economic expansion over the subsequent six months, while figures below 50 suggest a contraction.
[ Full Story ]- Read the Leading Indicator report at Japan Cabinet Office
- Japan Feb Leading Indicators 30.0; Coincident 16.7 (Dow Jones)
- Japan finance minister says G7 unlikely to focus on yen weakness (AFX News)
US INITIAL JOBLESS CLAIMS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 5 | 12:30 | Initial Jobless Claims | 321K | - | 308K |
US weekly jobless claims up 11,000 to 321,000, highest in four weeks (AFX News)
The number of people filing new claims for unemployment insurance rose in the latest week to the highest level in a month, the Labor Department said today. First time claims rose 11,000 to 321,000 in the week ended March 31, slightly more than economists had expected. First time claims are at their highest level in four weeks.
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 6 | 05:00 | JP | Leading Economic Index (Feb)  | 30.0% | 40.9% | |
| 12:30 | US | Average Workweek (Mar) | 33.8 | 33.7 | ||
| 12:30 | US | Hourly Earnings (Mar) | 0.3% | 0.4% | ||
| 12:30 | US | Nonfarm Payrolls (Mar) | 118K | 97K | ||
| 12:30 | US | Unemployment Rate (Mar) | 4.6% | 4.5% | ||
| 14:00 | US | Wholesale Inventories (Feb) | 0.4% | 0.7% | ||
| 19:00 | US | Consumer Credit (Feb) | $5.0B | $6.4B | ||
| Apr 11 | 14:30 | US | EIA Crude Oil Stocks (Apr 6) | -0.9 | ||
| 18:00 | US | FOMC Minutes (Mar 21) | ||||
| Apr 12 | 12:30 | US | Initial Jobless Claims (Apr 7) | 321K | ||