Wednesday, Aug 01, 08:07 GMT
EUROPEAN Trading Newsletter
To Get Started
- SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 15th Edition with Wayne McDonell
- Website Renewed! All the Forex Market news and research also in Spanish
- Take a look at Postcards from the Right Edge! The new blog by Rob Booker
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Live Sessions Schedule
US Pre-Market Open
Expert: Ed Ponsi
Start: Wed, Aug 1, 12:00 GMT
Sponsored by: 
Type of Session: Webinar
Main technical theme in the currency market
Expert: Jamie Saettele
Start: Wed, Aug 1, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Aug 1, 12:00 GMT | US Pre-Market Open  | Ed Ponsi | WBN | |
| Wed, Aug 1, 13:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN | |
| Wed, Aug 1, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Wed, Aug 1, 15:00 GMT | Specific technical indicators and tools for tracking accurancy in FX trading | Don Wilcox | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades - EUR/USD daily outlook by E-Forex
The Euro lacked the strength to break the resistance at 1.3730 on yesterday and it declined below the support level at 1.3690, later during today's Asian session breaking 1.3660 as well. Support is now seen at 1.3630 backed by 1.3605 and 1.3565. Momentum is negative on both hourly and daily charts and a potential close in the 1.37 area may change it and signal a reverse.
- 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:
Daily Forex Commentary - Renewed Risk-appetite? Or not? by Jyske Bank
Forex Technical Analysis - EUR/USD:(1.3654) Correction from 1.3853 met 38.2% Retrace of rise from 1.3264 (1.3628) by KBC Bank
Currency Majors Technical Analysis by Mataf.net
Currencies at a Glance
- EUR/USD
- Trades around second support level 1.3649
08/01/2007 07:08 GMT - GBP/USD
- Moves down below first support level 2.0238
08/01/2007 07:09 GMT - USD/CHF
- Trades above first support level 1.1990 after bounced at last week low 1.1982
08/01/2007 07:10 GMT - USD/JPY
- Moves down below second support level 117.78
08/01/2007 07:11 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
UK PMI MANUFACTURING INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Aug 1 | 08:30 | PMI Manufacturing Index | 54.0 | 54.3 |
Friday Notes - Oil prices – the primary trend is up by HVB Group
Following a decline in June, we expect the manufacturing PMI to remain on a softening trend, slowing down to 53.8. Higher oil prices and a stronger currency might have affected manufacturers’ confidence. This would be also consistent with a weak reading for the CBI industrial trend survey in July.
[ Full Story ]Top Market Movers Review
Australia TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 1 | 01:30 | Trade Balance | -1751 | -1150 | -807 |
DATA SNAP: Australia June Trade Deficit A$1.75B (Dow Jones)
Australia's seasonally adjusted balance on trade in goods and services widened to a deficit of A$1.75 billion in June from a deficit of A$970 million in May, the Australian Bureau of Statistics said Wednesday. The figure is wider than analysts' expectations of a deficit of A$1.05 billion.
[ Full Story ]- Read the Trade Balance report at Australian Bureau of Statistics
- Australian trade deficit widens to 1.751 billion Australian dollars in June (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 31 | 23:01 | UK | Nationwide Consumer Confidence (Jul) | 96 | 93 | 95 |
| Aug 1 | 01:30 | AU | Trade Balance (Jun) | -1751 | -1150 | -807 |
| 07:55 | DE | PMI Manufacturing Index (Jul) | 56.8 | 57.3 | ||
| 08:00 | EMU | PMI Manufacturing Index (Jul) | 54.8 | 54.8 | ||
| 08:30 | UK | PMI Manufacturing Index (Jul) | 54.0 | 54.3 | ||
| 14:00 | US | ISM Manufacturing (Jul) | 55.5 | 56.0 | ||
| 14:30 | US | EIA Crude Oil Stocks (Jul 27) | -1.1M | |||
| Aug 2 | 09:00 | EMU | Producer Price Index (MoM) (Jun) | 0.3% | 0.3% | |
| 09:00 | EMU | Producer Price Index (YoY) (Jun) | 2.3% | 2.3% | ||
| 11:00 | UK | BoE Interest Rate Decision | 5.75% | 5.75% | ||