Thursday, Aug 02, 07:43 GMT
EUROPEAN Trading Newsletter
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- SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 15th Edition with Wayne McDonell
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- 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: Thu, Aug 2, 12:00 GMT
Sponsored by: 
Type of Session: Webinar
How to Get Started Trading Forex
Expert: Steve Primo
Start: Thu, Aug 2, 15:00 GMT
Sponsored by:
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Aug 2, 12:00 GMT | US Pre-Market Open  | Ed Ponsi | WBN | |
| Thu, Aug 2, 15:00 GMT | How to Get Started Trading Forex | Steve Primo | WBN | |
| Fri, Aug 3, 12:00 GMT | SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 15th Edition | Wayne McDonell | WBN |  |
| Mon, Aug 6, 13:00 GMT | FX Instructor Live Trading Room | Sunil Mangwani | WBN |  |
Current Session: Europe
EUR/USD
Daily Recommended Trades - EUR/USD daily outlook by E-Forex
The Euro has tested 1.37 on yesterday but failed to break it and declined back into the 1.3650 area. Support is seen at 1.3650 backed by 1.3635 and 1.3600. Resistance starts at 1.3680 and it is followed by 1.3700 and 1.3720. Daily sentiment remains bearish since not much happened on lately, hourly studies being neutral at the time of this writing.
- 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:
FX Strategy - New yield forecasts by Danske Bank A/S
Daily Forex Commentary - Rate Announcement from BoE today by Jyske Bank
Forex Technical Analysis - EUR/USD:(1.3658) Correction from 1.3853 met 38.2% Retrace of rise from 1.3264 (1.3628) by KBC Bank
Currencies at a Glance
- EUR/USD
- Stays below pivot level 1.3671
08/02/2007 07:17 GMT - GBP/USD
- Trades around opening price level 2.0324 , above pivot level 2.0292
08/02/2007 07:17 GMT - USD/CHF
- Continues to trade around opening price level 1.2041 , above pivot level 1.2023
08/02/2007 07:17 GMT - USD/JPY
- Back above pivot level 118.51 after bounced at 118.33
08/02/2007 07:17 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 BOE INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Aug 2 | 11:45 | ECB Interest Rate Decision | - | 4% |
| Aug 2 | 11:00 | BoE Interest Rate Decision | 5.75% | 5.75% |
ECB and BoE meeting Preview by FXstreet.com
After June's hike the ECB meets this month under an almost sure decision in mind: keep its actual interest rate on hold at 4%. On the other hand, analysts are quite sure that the BoE (Bank of England) will keep its interest rates on hold at a 5.75%.
- UK shadow MPC votes 5-4 to keep interest rates on hold at 5.75 pct (Thomson Financial News)
- BoE warned it would be 'dangerous' to even contemplate rate rise - BCC (Thomson Financial News)
Daily Forex Commentary - Rate Announcement from BoE today by Jyske Bank
Economic Data Roundup - United Kingdom: 2/8 MPC Meeting Begins by ODL Securities
Top Market Movers Review
US ISM MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 1 | 14:00 | ISM Manufacturing | 53.8 | 55.5 | 56.0 |
U.S: ISM lower, but upbeat message intact by Danske Bank A/S
The ISM index edged back to 53.8 in July from 55.0 in June indicating a slightly lower momentum in the US manufacturing industry. That said, the message from the index remains upbeat indicating above-trend expansion in the US manufacturing industry.
[ Full Story ]- Read the July 2007 Manufacturing ISM Report On Business at ISM
- DATA SNAP: July ISM Shows Slower Factory Growth (Dow Jones)
- Manufacturing sector expands in July (Thomson Financial News)
- US July manufacturing index falls to 53.8 vs 56.0 expected (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| 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% | ||
| 11:45 | EMU | ECB Interest Rate Decision | 4% | |||
| 12:30 | US | Initial Jobless Claims (Jul 28) | 315 | 301K | ||
| 14:00 | US | Factory Orders (Jun) | 1.0% | -0.5% | ||
| Aug 3 | 05:45 | CH | Consumer Price Index (MoM) (Jul) | -0.6% | 0.1% | |
| 05:45 | CH | Consumer Price Index (YoY) (Jul) | 0.7% | 0.6% | ||
| 07:55 | DE | Purchasing Manager Index Services (Jul) | 58.5 | 58.9 | ||
| 08:00 | EMU | Purchasing Manager Index Services (Jul) | 58.1 | 58.1 | ||