Thursday, Nov 22, 09:37 GMT
EUROPEAN Trading Newsletter
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Current Session: Europe
EUR/USD
Daily Recommended Trades − EUR/USD daily outlook by E−Forex
After retracing and testing the intra−day support at 1.4780, the Euro reversed and resumed the uptrend setting a fresh high at 1.4875 on yesterday. Support is now seen at 1.4820 backed by 1.4780 and 1.4750. Resistance emerges at 1.4875 followed by 1.4900. Daily sentiment is bullish while the hourly studies are slightly bearish at the time of this writing.
- Intraday thoughts: it ain't over 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 Forex Technical Report − Dollar at Another Record Low ahead of Market Holiday by ActionForex.com
Daily Forex Commentary − Volatile Markets by Jyske Bank
Forex Technical Report − Forex Technical Report EUR/USD by iFOREX.bg
Currencies at a Glance
- EUR/USD
- Moves down back around pivot level 1.4834
11/22/2007 08:10 GMT - GBP/USD
- Trades around opening price level 2.0652 , above pivot level 2.0625
11/22/2007 08:11 GMT - USD/CHF
- Continues to trade around opening price level 1.1018 , below pivot level 1.1036
11/22/2007 08:11 GMT - USD/JPY
- Trades around pivot level 108.88
11/22/2007 08:12 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, Aspen Trading Group, 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
EMU PMI MANUFACTURING INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Nov 23 | 09:00 | PMI Manufacturing Index | 51.0 | 51.5 |
| Nov 23 | 09:00 | Purchasing Manager Index Services | 55.1 | 55.8 |
Friday Notes - Strong Q3 growth – Water over the dam by HVB Group
The November flash estimate should confirm the downward trend in eurozone manufacturing PMI that characterized the last several months. At the current level, the indicator remains consistent with very moderate growth in the manufacturing sector. After the technical rebound recorded in Q3, industrial production is likely to lose momentum substantially in the last months of this year.
[ Full Story ]Top Market Movers Review
Germany GROSS DOMESTIC PRODUCT S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 22 | 07:00 | Gross Domestic Product s.a (QoQ) | 0.7% | 0.7% | 0.3% |
| Nov 22 | 07:00 | Exports | 3.1% | 2.1% | -0.9% |
| Nov 22 | 07:00 | Imports | 3.9% | 2.2% | 0.9% |
| Nov 22 | 07:00 | Private Consumption (QoQ) | 0.5% | 0.3% | 0.3% |
German Q3 final GDP growth 0.7 pct vs 0.3 in Q2; confirms preliminary results (Thomson Financial News)
German GDP grew 0.7 pct in seasonally, price and calendar−adjusted terms in the third quarter compared with the 0.3 pct growth in the second quarter of this year, according to final figures from the Federal Statistics Office.
[ Full Story ]- Read the Official Data at Destatis.de
- German GDP increases 0.7% in the third quarter (FXstreet.com)
- German MOF: Econ In Robust State Despite Fncl Mkt Turmoil (Dow Jones)
EMU economic indicators - German GDP growth will be confirmed at 0.7% qoq by BHF−Bank
US REUTERS/MICHIGAN CONSUMER SENTIMENT INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 21 | 15:00 | Reuters/Michigan Consumer Sentiment Index | 76.1 | 75.0 | 80.9 |
Michigan Consumer Sentiment Index falls less than expected in November (FXstreet.com)
Consumer Sentiment Index declined to the level of 76.1 points in November from the 80.9 points posted last month, according to data released by the University of Michigan.
[ Full Story ]- Read the Reuters/University of Michigan Surveys of Consumers
- Reuters/Univ Michigan End−Nov Sentiment 76.1; Oct 80.9 (Dow Jones)
- US late November Reuters/Michigan consumer sentiment 76.1 vs 75.0 expected (Thomson Financial News)
- Reuters/Univ Michigan End−Nov Sentiment 76.1; Oct 80.9 (Dow Jones)
US LEADING INDICATORS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 21 | 15:00 | Leading Indicators (MoM) | -0.5% | -0.3% | 0.1% |
US Conference Board: Oct Leading Index −0.5% (Dow Jones)
An index intended to show the economy's future direction fell by 0.5% in October, according to preliminary estimates by the Conference Board.
[ Full Story ]- Read the Leading Indicators data at the Conference Board
- UPDATE: US Conference Board: Oct Leading Index −0.5% (Dow Jones)
- UPDATE: US Conference Board: Oct Leading Index −0.5% (Dow Jones)
- US Conference Board's Leading Index decreases lower than expected in October (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 22 | 09:00 | EMU | Current Account n.s.a (Sep) | 4.4 | 0.0 | 1.5 |
| 09:00 | EMU | Current Account s.a (Sep) | 0.6B | 4.0B | 4.5B |
|
| 09:30 | UK | Total Business Investment (QoQ) (3Q) | 0.1% | 1.1% | 0.4% | |
| 09:30 | UK | Total Business Investment (YoY) (3Q) | 4.6% | 6.1% | 8.2% | |
| 10:00 | EMU | Industrial New Orders (YoY) (Sep) | 6.5% | 5.1% | ||
| 10:00 | EMU | Industrial New Orders s.a. (MoM) (Sep) | -0.7% | 0.3% | ||
| Nov 23 | 09:00 | EMU | PMI Manufacturing Index (Nov)  | 51.0 | 51.5 | |
| 09:00 | EMU | Purchasing Manager Index Services (Nov) | 55.1 | 55.8 | ||
| 09:30 | UK | BBA Net Mortgage Lending s.a. (Oct) | £18.5B | |||
| 09:30 | UK | Exports (3Q) | 1.6% | -1.0% | ||