Monday, May 07, 07:37 GMT
EUROPEAN Trading Newsletter
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Live Sessions Schedule
What moves currencies? - Post Market Reaction to NFP
Expert: Tony Juste
Start: Mon, May 7, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Weekly Webinar: 1st on Forex - The Week Ahead
Expert: Jerry Furst
Start: Mon, May 7, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored By: | ||||
| Mon, May 7, 10:00 GMT | What moves currencies? - Post Market Reaction to NFP | Tony Juste | WBN | |
| Mon, May 7, 11:00 GMT | Weekly Webinar: 1st on Forex - The Week Ahead | Jerry Furst | WBN | |
| Mon, May 7, 12:00 GMT | US Pre-Market Open  | Ed Ponsi | WBN |  |
| Mon, May 7, 13:20 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
EUR/USD
Forex Technical Analysis - EUR/USD:(1.3600) Back in LT channel of 1.2877 by KBC Bank
New year high, with move above 1.3310 (monthly Downtrendline off 1992 on synthetic charts) and above 1.3467 (LT daily Downtrenline off 1992 on same charts): positive Medium Term outlook for € while above. Currently back in channel off 1.2877, with pair trying to sustain back above the neckline of Triple Top (1.3585 (see graph).
1st Support area at 1.3587/ .73 (broken daily Short Term Moving Average/ daily Bollinger midline), with next levels at 1.3545/ .3535 (daily + weekly envelopes/ last week low): tough on 1st attempts.
- The Signals Tracker: track down the performance of a particular signal provider
- Have a look at the Advisor's Blog 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
- The Cable experience at our Forex Forum
Other Topics for this Session:
Daily FX Wrap - Daily FX Wrap for Monday 7th May 2007 by Pinnacle Forex
Daily Recommended Trades - EUR/USD daily outlook by E-Forex
Daily Forex Commentary - Unchanged from Riksbanken by Jyske Bank
Currencies at a Glance
- EUR/USD
- Floating around opening price level at 1.3600 , above today's pivot at 1.3578
05/07/2007 06:59 GMT - GBP/USD
- Trades above first resistant level at 1.9959
05/07/2007 06:59 GMT - USD/CHF
- Trades around first support level at 1.2087
05/07/2007 06:59 GMT - USD/JPY
- Trades below first support level at 119.89
05/07/2007 06:59 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - USD/JPY
**Source : CMS Forex, Danske Bank A/S, Finotec Group Inc., FXstreet.com, Global Forex Trading Ltd. , Mizuho Corporate Bank
[ View ASI page ] [ View USD/JPY page ]
Charting the Market Movers
EUR USD, Hourly
USD JPY, Hourly
Top Market Movers Preview
Germany FACTORY ORDERS S.A.
| Date (GMT) | Event | Cons. | Previous | |
| May 7 | 10:00 | Factory Orders s.a. (MoM) | 0.4% | 3.9% |
Friday Notes - The oil price just keeps on rising by HVB Group
Following the enormous jump in the previous month, the UniCredit-Reuters tool points to an increase in March, but it should be more moderate. The risks are, however, on the upside. The engineering sector reported a veritable "explosion" of new orders in March. Hence, order books remain full to the brim.
[ Full Story ]Top Market Movers Review
Japan BOJ MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 7 | 05:00 | BoJ Minutes | - | - | - |
Some Bank of Japan members urged rate hikes to be gradual, March minutes show (AFX News)
Some of the board members at the Bank of Japan urged the BoJ to do a better job communicating its intention of raising interest rates only gradually and without any timetable set in advance, the minutes of the March 19-20 policy meeting released today showed.
[ Full Story ]- Read the Minutes of the Monetary Policy Meeting [PDF, 53KB] at BoJ
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 7 | 05:00 | JP | BoJ Minutes (Mar) | |||
| 10:00 | DE | Factory Orders n.s.a. (YoY) (Mar) | 11.1% | 9.3% | ||
| 10:00 | DE | Factory Orders s.a. (MoM) (Mar) | 0.4% | 3.9% | ||
| 19:00 | US | Consumer Credit (Mar) | $5B | $3B | ||
| May 8 | 10:00 | DE | Industrial Production s.a. (MoM) (Mar) | 0.5% | 0.9% | |
| 14:00 | US | Wholesale Inventories (Mar) | 0.5% | 0.5% | ||
| May 9 | 05:00 | JP | Leading Economic Index (Mar)  | 40.9% | ||
| 18:15 | US | FOMC rate decision expected (May 9) | 5.25 | 5.25 | ||
| 23:50 | JP | Money Supply M2+CD (YoY) (Apr) | 1.1% | 1.1% | ||
| May 10 | 08:30 | UK | Industrial Production (MoM) (Mar) | 0.3% | -0.2% | |