Wednesday, Nov 07, 08:26 GMT
EUROPEAN Trading Newsletter
To Get Started
- Get FXstreet's Economic Calendar for your own site
- Forex Chat Room: Share your trading ideas and comments with fellow traders
- For beginners: An Introduction to Foreign Currencies in the Education section
- Missed the ITC? Check out the image coverage we made!
- The Advisor Blog: At the Open. Gimme more, please.
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
Asia−Pacific trading Webinar
Expert: Abdul Khan
Start: Wed, Nov 7, 10:00 GMT
Type of Session: Webinar
What Moves Currencies? − Carry Trade Watch
Expert: Tony Juste
Start: Wed, Nov 7, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Nov 7, 10:00 GMT | Asia−Pacific trading Webinar | Abdul Khan | WBN |  |
| Wed, Nov 7, 11:00 GMT | What Moves Currencies? − Carry Trade Watch | Tony Juste | WBN | |
| Wed, Nov 7, 12:00 GMT | FX Instructor Live Trading Room  | Mihai Marinescu | WBN |  |
| Wed, Nov 7, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades − EUR/USD daily outlook by E−Forex
The Euro rose on yesterday and today's Asian session and it managed to get past the 1.4600 mark, setting fresh highs at 1.4665. Support is now formed by 1.4610 backed by 1.4580 and 1.4550. Resistance starts at 1.4645 and it is followed by 1.4665 and 1.4700.
- Technical Trigger: USD/CHF at Tony Juste's blog
- Long−term Forex Perspectives: Our new blog by John Jagerson and S. Wade Hansen
- New Webinars Video − Access now Educational Sessions Recordings
- 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 − EUR/JPY: Re−testing trendline resistance and still no clear signs of topping by Mizuho Corporate Bank
Forex Technical Report − Forex Technical Report EUR/USD by iFOREX.bg
Weekly Update − The euro begins the week near all time highs at 1.4528 achieved last week by Union Bank of California
Currencies at a Glance
- EUR/USD
- Moves down back below second resistant level 1.4634
11/07/2007 08:17 GMT - GBP/USD
- Trades above first resistant level 2.0920
11/07/2007 08:19 GMT - USD/CHF
- Trades around first support level 1.1397
11/07/2007 08:20 GMT - USD/JPY
- Trades around third support level 113.87
11/07/2007 08:20 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
Germany INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Nov 7 | 11:00 | Industrial Production s.a. w.d.a. (YoY) | 5.1% | 5.1% |
| Nov 7 | 11:00 | Industrial Production s.a. (MoM) | -0.4% | 1.7% |
EMU economic indicators - German industrial new orders and output in the producing sector probably deteriorated in September by BHF−Bank
Having soared previously, German industrial new orders and output in the German producing sector probably suffered setbacks in September, as most of the correlated indicators have deteriorated.
[ Full Story ]Top Market Movers Review
Australia HOUSE PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 7 | 00:30 | House Price Index (YoY) | 10.6% | 9.8% | 9.2% |
| Nov 7 | 00:30 | House Price Index (QoQ) | 3.5% | 3.0% | 3.2% |
Australia 3Q House Price Index +3.5% Vs 2Q (Dow Jones)
The weighted average price of established houses in Australian capital cities rose 3.5% in the third quarter of 2007 from the second quarter, the Bureau of Statistics said Wednesday.
[ Full Story ]- Read the House Price Index report at Australian Bureau of Statistics
UK NATIONWIDE CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 7 | 00:00 | Nationwide Consumer Confidence | 98 | - | 99 |
UK consumer confidence dips in Oct but remains resilient − Nationwide (Thomson Financial News)
The financial turmoil sparked by the recent credit crunch has had little impact on UK consumer confidence, which dipped only slightly in October, a survey by Nationwide showed.
[ Full Story ]- Read the Consumer Confidence report at Nationwide website
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 6 | 22:30 | RBA Interest Rate Decision | 6.75% | 6.75% | 6.50% |
Australia's central bank hikes target cash rate 25 basis points to 6.75 percent (Thomson Financial News)
The Reserve Bank of Australia said Wednesday it had raised its target cash rate by a quarter percentage point to 6.75 percent.
[ Full Story ]- Read the Interest Rate Decision report at Reserve Bank of Australia
- Australia's central bank says rate hike due to inflationary pressures (Thomson Financial News)
- Australia's central bank hikes target cash rate to 6.75 percent − UPDATE (Thomson Financial News)
Daily Forex Outlook - Write downs weigh on stock prices. RBA rate announcement nearing by Easy Forex
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 7 | 00:30 | AU | Home Loans | -2.4% | 0.0% | 1.0% |
| 00:30 | AU | House Price Index (YoY) (Oct) | 10.6% | 9.8% | 9.2% | |
| 05:30 | AU | Foreign Reserves (Oct) | 36.0B | 52.7B | ||
| 08:00 | UK | Bank of England's Monetary Policy Committee Meets | ||||
| 10:30 | UK | BRC Shop Price Index (MoM) (Oct) | 0.2% | |||
| 10:30 | UK | BRC Shop Price Index (YoY) (Oct) | 0.4% | |||
| 11:00 | DE | Industrial Production s.a. (MoM) (Sep) | -0.4% | 1.7% | ||
| 11:00 | DE | Industrial Production s.a. w.d.a. (YoY) (Sep) | 5.1% | 5.1% | ||
| 13:30 | US | Nonfarm Productivity (3Q) | 2.8% | 2.6% | ||
| 13:30 | US | Unit Labor Costs (3Q) | 1.2% | 1.4% | ||