Tuesday, Jul 31, 07:21 GMT
EUROPEAN Trading Newsletter
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Live Sessions Schedule
Outlook for the major currencies this week
Expert: Ian Copsey
Start: Tue, Jul 31, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
FX Instructor Live Trading Room
Expert: Sunil Mangwani
Start: Tue, Jul 31, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Jul 31, 09:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN | |
| Tue, Jul 31, 11:00 GMT | FX Instructor Live Trading Room | Sunil Mangwani | WBN | |
| Tue, Jul 31, 12:00 GMT | US Pre-Market Open  | Ed Ponsi | WBN |  |
| Tue, Jul 31, 13:30 GMT | Forex with Ed Ponsi | Ed Ponsi | WBN | |
Current Session: Europe
GBP/USD
Daily Technical Analysis - GBP: Stabilising above 2.0150, a fairly pivotal level, and likely to do the same today by Mizuho Corporate Bank
Stabilising above 2.0150, a fairly pivotal level, and likely to do the same today. Any rally is likely to be capped at 2.0500 and the monthly candle looks as though will end up as a ‘shooting star' suggesting we will hold below 2.0656 for several months.
- Postcards from the Right Edge!: New technical analysis blog by Rob Booker
- 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:
Weekly Forex Outlook - Steadying Stock prices aids yields by Easy Forex
Daily Forex Commentary - Further strengthening of JPY ahead? by Jyske Bank
Forex Technical Analysis - EUR/USD:(1.3700) Correction met 38.2% Retrace of rise from 1.3264 by KBC Bank
Currencies at a Glance
- EUR/USD
- Back around opening price level 1.3697 after tested first resistant level 1.3730
07/31/2007 07:00 GMT - GBP/USD
- Continues to trade around first resistant level 2.0297
07/31/2007 07:00 GMT - USD/CHF
- Moves up above pivot level 1.2045
07/31/2007 07:01 GMT - USD/JPY
- Back around opening price level 119.04 after bounced at pivot level 118.74
07/31/2007 07:01 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
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Jul 31 | 09:00 | Consumer Price Index (MoM) | 0.2% | 0.2% |
| Jul 31 | 09:00 | Consumer Price Index (YoY) | 1.6% | 1.7% |
Friday Notes - Oil prices – the primary trend is up by HVB Group
We expect euro area inflation to remain steady at 1.9% for the fifth consecutive month in a row. Energy prices rose again sharply on the month, but due to a favorable base effect the impact on the y-o-y inflation rate should remain contained. We see consumer prices climbing above 2% in September.
[ Full Story ]Top Market Movers Review
Germany RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 31 | 06:00 | Retail Sales (MoM) | 0.7% | -3.7% | -2.5% |
| Jul 31 | 06:00 | Retail Sales (YoY) | -0.8% | 1.3% | -4.2% |
DATA SNAP: German June Retail Sales +0.7% MM, -0.8% YY (Dow Jones)
German retail sales in June rose less than expected on the month,with a fall in food, non-specialized retail and mail order sales damping growth, Federal Statistics Office data showed Tuesday.
[ Full Story ]- Read the Turnover in retail trade in June 2007: – 0.8% in real terms on June 2006 at German Statistics
- German June retail sales, weaker than expected (FXstreet.com)
- German June retail sales up 0.7 pct vs May, down 0.8 pct year-on-year (Thomson Financial News)
- Germany Jun Retail Sales increase 0.7% on the month; -0.8% on the year (FXstreet.com)
Friday Notes - Oil prices – the primary trend is up by HVB Group
Japan OVERALL HOUSEHOLD SPENDING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 30 | 23:30 | Overall Household Spending (YoY) | 0.1% | 0.7% | 0.4% |
| Jul 30 | 23:30 | Jobless Rate | 3.7% | 3.8% | 3.8% |
Japan Jun All Household Spending +0.1% On Year (Dow Jones)
Japan's overall household spending rose 0.1% in June in real terms from a year earlier, the Ministry of Internal Affairs and Communications said Tuesday, suggesting Japan's private spending is slowly but steadily increasing. It was the six straight month of increase but was worse than a 0.7% gain forecasted by economists surveyed by Dow Jones and Nikkei.
[ Full Story ]- Read the Household Spending report at Japan Ministry of Internal Affairs and Communications
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 31 | 01:30 | AU | National Australia Bank's Business Conditions (2Q) | 30 | 22 | |
| 03:00 | NZ | Business Confidence (Jul) | -39.0 | -37.2 | ||
| 06:00 | DE | Retail Sales (MoM) (Jun) | 0.7% | -3.7% | -2.5% |
|
| 06:00 | DE | Retail Sales (YoY) (Jun) | -0.8% | 1.3% | -4.2% |
|
| 07:55 | DE | Unemployment Change (Jul) | -30K | -37K | ||
| 07:55 | DE | Unemployment Rate s.a. (Jul) | 9.0% | 9.1% | ||
| 09:00 | EMU | Consumer Confidence (Jul) | -4 | -3 | ||
| 09:00 | EMU | Consumer Price Index (MoM) (Jul) | 0.2% | 0.2% | ||
| 09:00 | EMU | Consumer Price Index (YoY) (Jul) | 1.6% | 1.7% | ||
| 09:00 | EMU | Economic Confidence (Jul) | 111.3 | 111.7 | ||