Wednesday, Aug 08, 07:28 GMT
EUROPEAN Trading Newsletter
To Get Started
- Website Renewed! All the Forex Market news and research also in Spanish
- Fed Meeting Review by FXstreet.com
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- FXstreet.com 1st International Traders Conference - Come and meet our renowned Speakers
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Sunil Mangwani
Start: Wed, Aug 8, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
Level of Sentiment in the FX Market
Expert: Antonio Sousa
Start: Wed, Aug 8, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Aug 8, 11:00 GMT | FX Instructor Live Trading Room  | Sunil Mangwani | WBN | |
| Wed, Aug 8, 13:00 GMT | Level of Sentiment in the FX Market | Antonio Sousa | WBN | |
| Wed, Aug 8, 15:00 GMT | Forex Market forecast for rest of the Year 2007 | Dr.S.Sivaraman | WBN |  |
| Wed, Aug 8, 17:00 GMT | Trading Intermarket Relationships | John Jagerson | WBN | |
Current Session: Europe
EUR/USD
EUR/USD Daily Technical Forex - EUR/USD Daily Technical Forex by Stoploss.ch
Current level at 08:25 CET is 1.3729, trading on the defensive and under the daily pivot point level of 1.3761. Daily Bollinger and standard error bands are flat and Bollinger bandwidth is relatively narrow, so a break away from the current lethargy must now be anticipated.
- 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 Technical Analysis - EUR: Still consolidating below the all-time high at 1.3853 yet giving up very little room by Mizuho Corporate Bank
Daily Recommended Trades - EUR/USD daily outlook by E-Forex
Technical Summary for Majors - Technical Summary for Majors by Windsor Brokers Ltd
Currencies at a Glance
- EUR/USD
- Moves down below opening price level 1.3737 , below pivot level 1.3762
08/08/2007 07:06 GMT - GBP/USD
- Moves down below last week low 2.0180 toward first support level 2.0155
08/08/2007 07:07 GMT - USD/CHF
- Trades around opening price level 1.1973 , above pivot level 1.1949
08/08/2007 07:08 GMT - USD/JPY
- Continues to test first resistant level 119.19
08/08/2007 07:09 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 WHOLESALE INVENTORIES
| Date (GMT) | Event | Cons. | Previous | |
| Aug 8 | 14:00 | Wholesale Inventories | 0.4% | 0.5% |
US economic indicators - Productivity probably rose more strongly in Q2 by BHF-Bank
We expect wholesale inventories to have increased by 0.2% mom in June. This would be less marked than in May and in line with the Commerce department’s rather low estimate of inventories’ contribution to growth in Q2.
[ Full Story ]Top Market Movers Review
Germany TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 8 | 06:00 | Current Account | 16.6 | 12.0 | 8.9B |
| Aug 8 | 06:00 | Trade Balance | 16.5B | 17.8 | 17.3B |
DATA SNAP: German June Trade Surplus Narrows To EUR16.5B (Dow Jones)
Germany's trade surplus narrowed to EUR16.5 billion in June from a revised EUR17.3 billion in May, which was originally reported as EUR17.5 billion, data from the Federal Statistics Office showed Wednesday.
[ Full Story ]- Read the German exports in June 2007: +11.9% on June 2006 at German Statistics
- German trade surplus narrows in June (FXstreet.com)
- Germany Trade Surplus declines to 16.5B in Jun from 17.3B in May (FXstreet.com)
- German June trade surplus 16.5 bln eur vs 17.3 bln in May (Thomson Financial News)
EMU economic indicators - German industrial new orders probably plummeted in June by BHF-Bank
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 7 | 23:30 | RBA Interest Rate Decision | 6.50% | 6.50% | 6.25% |
Overnight Briefing: Far East Timezone - Australia hiked rate by Jyske Bank
Australia's central bank raised interest rates to a decade-high of 6.5 % on Wednesday, as expected, saying higher borrowing costs were needed to check inflation.
[ Full Story ]- Read the Cash Rate Target at Reserve Bank of Australia
- Australia's central bank hikes discount rate 25 bps to near 11-yr high - UPDATE (Thomson Financial News)
- Australian dollar rises slightly after interest rate increase (Thomson Financial News)
- Australia's central bank hikes discount rate by 25 bps to 6.50 pct (Thomson Financial News)
US FED INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 7 | 18:15 | Fed Interest Rate Decision | 5.25% | 5.25% | 5.25% |
Fed Meeting Review by FXstreet.com
As it was widely expected the Fed left its interest rates unchanged at 5.25%. Keeping focus on inflation is for the moment the biggest concern for this central bank.
- U.S. Federal Reserve Statement
- Fed leaves key interest rate unchanged (Thomson Financial News)
- Fed leaves rates unchanged at 5.25 pct for ninth consecutive meeting UPDATE (Thomson Financial News)
- Full text of the Federal Reserve's statement following today's meeting (Thomson Financial News)
Start the Day - Fed says that inflation is still their biggest worry by Mizuho Corporate Bank
Morning Report - USD steady as Federal Reserve keeps rates on hold by Westpac Institutional Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 7 | 23:30 | AU | RBA Interest Rate Decision | 6.50% | 6.50% | 6.25% |
| Aug 8 | 05:45 | CH | Unemployment Rate (Jul) | 2.50% | 5.25% | 2.50% |
| 06:00 | DE | Current Account (Jun) | 16.6 | 12.0 | 8.9B |
|
| 06:00 | DE | Trade Balance (Jun) | 16.5B | 17.8 | 17.3B |
|
| 14:00 | US | Wholesale Inventories (Jun) | 0.4% | 0.5% | ||
| 14:30 | US | EIA Crude Oil Stocks (Aug 3) | -6.5M | |||
| 22:45 | NZ | Unemployment Rate (2Q) | 3.7% | 3.8% | ||
| Aug 9 | 01:30 | AU | Unemployment Rate (Jul) | 4.4% | 4.3% | |
| 08:00 | EMU | ECB Publishes Monthly Report (Aug) | ||||
| 08:30 | UK | Total Trade Balance (Jun) | -3.900B | -3.511B | ||