Wednesday, Jul 04, 08:31 GMT
EUROPEAN Trading Newsletter
To Get Started
- FXstreet.com International Traders Conference: Come to Barcelona! Enjoy the Special Early Bird Discount
- Be prepared for the next Non-Farm Payrolls - Trade it LIVE with Wayne McDonell
- Who is going to be the FX Trader of the year? Find it out in the Forum
Send us your feed back. Post your comments about the new newsletters' format in the Forum.
Live Sessions Schedule
What moves currencies?
Expert: Tony Juste
Start: Thu, Jul 5, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
SPECIAL EVENT: Trade Non-Farm Payrolls LIVE
Expert: Wayne McDonell
Start: Fri, Jul 6, 12:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored By: | ||||
| Thu, Jul 5, 10:00 GMT | What moves currencies? | Tony Juste | WBN | |
| Thu, Jul 5, 12:00 GMT | US Pre-Market Open  | Ed Ponsi | WBN |  |
| Thu, Jul 5, 13:00 GMT | Raghee Horner's Four Step Trading: Forex | Raghee Horner | WBN |  |
| Thu, Jul 5, 14:00 GMT | Technical Analysis Q&A | Tony Juste | WBN | |
Current Session: Europe
GBP/USD
Daily Technical Analysis - EUR/JPY: Holding neatly just under the new all-time high at 167.20 by Mizuho Corporate Bank
Cable, at 2.0197, is at its highest since 1981 and is not displaying any signs of vertigo. It is very overbought but bullish momentum should increase on a weekly close above 2.0100.
- Looking for the Trader of the Year 2007: Take part in the 1st FXstreet.com Trading Contest
- Price Flash: GBP/USD hits dynamic line again @ 2.0170, then falls by Tony Juste
- The Signals Tracker: track down the performance of a particular signals provider
- 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
Other Topics for this Session:
Daily Recommended Trades - EUR/USD daily outlook by E-Forex
Forex Technical Report - Forex Technical Report EUR/USD by iFOREX.bg
Currency Majors Technical Analysis - Currency Majors Technical Analysis by Mataf.net
Currencies at a Glance
- EUR/USD
- Moves up toward first resistant level 1.3634
07/04/2007 07:08 GMT - GBP/USD
- Continues to move up above first resistant level 2.0191
07/04/2007 07:08 GMT - USD/CHF
- Stays above pivot level 1.2141
07/04/2007 07:09 GMT - USD/JPY
- Trades below pivot level 122.41
07/04/2007 07:10 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - USD/JPY
**Source : ActionForex.com, 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
US ISM NON-MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Jul 5 | 14:00 | ISM Non-Manufacturing | - | 59.7 |
Friday Notes - Inflation risks still skewed to the upside by HVB Group
Respondents from various services industries included in the ISM non-manufacturing survey have been uniformly upbeat about production, orders and employment conditions in their businesses. Nothing happened in June to dim their enthusiasm.
[ Full Story ]Top Market Movers Review
EMU PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 4 | 08:00 | Purchasing Manager Index Services | 58.3 | 58.3 | 57.3 |
Euro Zone Services PMI rises in June in line with forecasts (FXstreet.com)
European Union’s services sector has posted a broad based growth in June, in line with the market expectations, which gives yet another reason to the ECB to raise interest rates before the end of the year.
[ Full Story ]- German June services PMI 58.9 vs 57.5 in May; consensus 58.5 - sources (Thomson Financial News)
- Euro-Zone June Services PMI 58.3 Vs 57.3 In May - Sources (Dow Jones)
Australia TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 4 | 01:30 | Trade Balance | -807 | -1200M | -962M |
Australian trade deficit narrows to 807 mln aud in May (Thomson Financial News)
Australia's seasonally adjusted trade deficit narrowed to 807 million Australian dollars in May from a revised 916 million dollars in April, the Australian Bureau of Statistics (ABS) said. The initial estimate of the April deficit 962 million dollars. May's deficit was less than the market's consensus forecast of 1.179 billion dollars.
[ Full Story ]- DATA SNAP: Australia May Trade Deficit A$807M (Dow Jones)
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 3 | 23:30 | RBA Interest Rate Decision | 6.25% | - | 6.25% |
Overnight Briefing: American Timezone - Australian interest rate unchanged by Jyske Bank
Australia's central bank held interest rates steady at 6.25 % today, a widely expected decision given a strong economy had yet to generate a clear pick-up in inflation.
[ Full Story ]- Read the Cash Rate Target report at Reserve Bank of Australia
- Australian central bank leaves official cash rate at 6.25 percent (Thomson Financial News)
Start the Day - Reserve Bank of Australia rates unchanged at 6.25% as security ramped up in the country by Mizuho Corporate Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 3 | 23:30 | AU | RBA Interest Rate Decision | 6.25% | 6.25% | |
| Jul 4 | 01:30 | AU | Trade Balance | -807 | -1200M | -962M |
| 07:55 | DE | Purchasing Manager Index Services | 58.9 | 58.0 | 57.5 | |
| 08:00 | EMU | Purchasing Manager Index Services | 58.3 | 58.3 | 57.3 | |
| 08:30 | UK | Purchasing Manager Index Services | 57.7 | 57.0 | 57.2 | |
| 09:00 | EMU | Retail Sales (MoM) | 0% | 0.2% | ||
| Jul 5 | 05:00 | JP | Leading Economic Index | 40.0 | 36.4 | |
| 11:00 | UK | BOE Interest Rate Decision | 5.5% | 5.5% | ||
| 11:45 | EMU | ECB Interest Rate Decision | 4% | 4% | ||
| 12:30 | CA | Building Permits (MoM) | -4.5% | -8.4% | ||