Friday, Aug 31, 08:02 GMT
EUROPEAN Trading Newsletter
To Get Started
- New NFA requirements - Francesc Riverola asks the opinion of top industry's CEO's
- FXstreet.com 1st International Traders Conference - Come and meet our renowned Speakers
- SPECIAL EVENT: Trade Non−Farm Payrolls LIVE on Fri, Sep 7 2007, 12:00 GMT
- Millionaire Traders: The new book by Kathy Lien & Boris Schlossberg
- The Advisor Blog: At the Open. Testing... testing.
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Live Sessions Schedule
What Moves Currencies? − Weekly Wrap−Up
Expert: Tony Juste
Start: Fri, Aug 31, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
The Contest Webinar
Expert: Raghee Horner
Start: Fri, Aug 31, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Aug 31, 10:00 GMT | What Moves Currencies? − Weekly Wrap−Up | Tony Juste | WBN | |
| Fri, Aug 31, 11:00 GMT | The Contest Webinar  | Raghee Horner | WBN | |
| Fri, Aug 31, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Fri, Aug 31, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
EUR/USD
Forex Technical Analysis − EUR/USD:(1.3664) Correction from 1.3853 met 50% Retrace of rise from year low (1.3359) by KBC Bank
The correction off 1.3853 has met 50% Retracement of the rise from year low (1.3359), with the rebound highlighting a Double Bottom off 1.3545. 1st Support area at 1.3632 (today's low?), with next levels at 1.3605 (daily Bollinger midline), ahead of 1.3591/ .86 (Short term low hourly/ daily envelope bottom).
Resistance area at 1.3685 (current reaction high off 1.3358 + daily envelope top), with next levels at 1.3709 (previous reaction high hourly), ahead of 1.3718 (breakdown daily Aug 08).
1.3736/ .3762 = 76.4% 1.3853 to 1.3358/ weekly envelope top: must recoup and sustain above to put € on stronger footing again: suspect too difficult on 1st attempts.
- Tony Juste is finally back! Read his last weblog posts
- The Signals Tracker: performance of signals providers
- Check out how pairs moved: Live Currency Rates & Charts
- 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 − GBP: Rallies may be slow and hard won by Mizuho Corporate Bank
Daily Forex Commentary − Bernanke takes the Stage by Jyske Bank
Daily Recommended Trades − EUR/USD daily outlook by E−Forex
Currencies at a Glance
- EUR/USD
- Continues to move up above first resistant level 1.3673
08/31/2007 07:21 GMT - GBP/USD
- Moves up toward first resistant level 2.0186
08/31/2007 07:21 GMT - USD/CHF
- Moves up back around opening price level 1.2047 , above pivot level 1.2032
08/31/2007 07:21 GMT - USD/JPY
- Moves up above first resistant level 116.31
08/31/2007 07:21 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading Ltd. , Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP JPY, Hourly
Top Market Movers Preview
EMU CONSUMER PRICE INDEX ESTIMATE
| Date (GMT) | Event | Cons. | Previous | |
| Aug 31 | 09:00 | Consumer Price Index Estimate (YoY) | 1.8% | 1.8% |
EMU economic indicators - German ifo business climate is expected to have deteriorated in August by BHF−Bank
The Eurostat flash estimate is likely to show annual euro area inflation remaining unchanged at 1.8% in August. This would correspond with a monthly increase of 0.1%. As in the months before, food price increases have probably been somewhat elevated.
[ Full Story ]Top Market Movers Review
Germany RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 31 | 06:00 | Retail Sales (MoM) | 0.3% | 0.5% | 1.2% |
| Aug 31 | 06:00 | Retail Sales (YoY) | -1.5% | -1.3% | -0.8% |
DATA SNAP: German July Retail Sales +0.3% On Mo, −1.5% On Yr (Dow Jones)
German retail sales growth slowed more than expected on the month in July as sales in food and beverages declined,Federal Statistics Office data showed Friday.
[ Full Story ]- Read the Turnover in retail trade in July: In real terms – 1.5% to July 2007 at German Statistics
- German July retail sales up 0.3 pct vs June, down 1.5 pct year−on−year (Thomson Financial News)
Australia RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 31 | 01:30 | Retail Sales (MoM) | 0.9% | - | -0.1% |
| Aug 31 | 01:30 | Trade Balance | -756 | -1000M | -1751M |
DATA SNAP:Australian Jul Retail Sales Rise 0.9% Vs Jun (Dow Jones)
Australian retail sales rose a higher−than−expected 0.9% to a seasonally adjusted A$19.40 billion in July from A$19.22 billion in June and rose from A$18.06 billion a year earlier, the Australian Bureau of Statistics said Friday.
[ Full Story ]- Read the Retail Trade report at Australian Bureau of Statistics
- Australia's retail sales up 0.9 pct in July, more than forecast (Thomson Financial News)
Japan INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 30 | 23:50 | Industrial Production (MoM) | -0.4% | -0.5% | -0.3% |
| Aug 30 | 23:50 | Industrial Production (YoY) | 3.2% | 2.9% | 3.8% |
DATA SNAP: Japan July Industrial Output −0.4% On Month (Dow Jones)
Japanese industrial output fell 0.4% on month in July for the first decline in two months, the government said Friday. The result matched the average forecast of economists surveyed by Dow Jones Newswires and Nikkei News.
[ Full Story ]- Read the Industrial Production report at Ministry of Economy, Trade and Industry
- Japan industrial output down 0.4 pct in July after earthquake − UPDATE (Thomson Financial News)
- Japan July industrial output down 0.4 pct on earthquake, matches forecast (Thomson Financial News)
- Japan Outlook: Jul Nationwide CPI, Jul Prelim Indus Output (Dow Jones)
Japan NATIONAL CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 30 | 23:50 | Industrial Production (MoM) | -0.4% | -0.5% | -0.3% |
| Aug 30 | 23:50 | Industrial Production (YoY) | 3.2% | 2.9% | 3.8% |
| Aug 30 | 23:30 | National CPI Ex−Fresh Food (YoY) | -0.1% | -0.1% | -0.1% |
| Aug 30 | 23:30 | Overall Household Spending (YoY) | -0.1% | 0.2% | 0.1% |
| Aug 30 | 23:30 | Tokyo CPI ex Fresh Food (YoY) | 0% | -0.1% | -0.1% |
| Aug 30 | 23:30 | Tokyo Consumer Price Index (YoY) | -0.2% | -0.1% | -0.1% |
| Aug 30 | 23:30 | Jobless Rate | 3.6% | 3.7% | 3.7% |
| Aug 30 | 23:30 | National Consumer Price Index (YoY) | -0.1% | -0.1% | -0.2% |
Japan July Core CPI Down 0.1% On Year; Mkt Expected −0.1% (Dow Jones)
Japan's nationwide core consumer price index fell 0.1% in July from a year earlier for the sixth straight month of declines, the Ministry of Internal Affairs and Communications said Friday. The result matched the average forecast of economists polled by Dow Jones Newswires and Nikkei. In June, the index slipped 0.1%.
[ Full Story ]- Read the Consumer Price Index report at Japan Ministry of Internal Affairs and Communications
- TABLE: Japan July Nationwide CPI, Tokyo August CPI (Dow Jones)
- Japan core CPI down for 6th straight mth in July on lower digital prices UPDATE (Thomson Financial News)
- Japan July core CPI down 0.1 pct yr−on−yr, as forecast (Thomson Financial News)
- Tony Juste, FX Advisor at FXstreet.com: "So how is the Japanese Economy doing on prices? Is the recovery path they talk about really on its way? The CPI figures will tell us once again the reality. The JPY carry madness may just unwind at large proportions if the data is higher than expected, so expect real volatility ahead and after the news." − FXstreet.com
Asia Market Update - Traders say JPY funded carry trades starting to look top−heavy by Trade The News
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 31 | 05:45 | CH | Consumer Price Index (MoM) (Aug) | -0.1% | 0.2% | -0.6% |
| 05:45 | CH | Consumer Price Index (YoY) (Aug) | 0.4% | 0.8% | 0.7% | |
| 06:00 | DE | Retail Sales (MoM) (Jul) | 0.3% | 0.5% | 1.2% |
|
| 06:00 | DE | Retail Sales (YoY) (Jul) | -1.5% | -1.3% | -0.8% | |
| 09:00 | EMU | Consumer Confidence (Aug) | -2 | -2 | ||
| 09:00 | EMU | Consumer Price Index Estimate (YoY) | 1.8% | 1.8% | ||
| 09:00 | EMU | Unemployment Rate (Jul) | 6.9% | 6.9% | ||
| 09:30 | UK | Gfk Consumer Confidence (Aug) | -7 | -6 | ||
| 12:30 | US | Core Personal Consumption Expenditure (MoM) (Jul) | 0.2% | 0.1% | ||
| 12:30 | US | Core Personal Consumption Expenditure (QoQ) (2Q)  | 1.4% | 1.4% | ||