Tuesday, Apr 01, 07:25 GMT
EUROPEAN Trading Newsletter
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Live Sessions Schedule
Outlook for the major currencies this week
Expert: Ian Copsey
Start: Tue, Apr 1, 08:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, Apr 1, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Apr 1, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN | |
| Tue, Apr 1, 11:00 GMT | FX Instructor Live Trading Room  | Vito Henjoto | WBN |  |
| Tue, Apr 1, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Tue, Apr 1, 13:30 GMT | Forex with Ed Ponsi | Ed Ponsi | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades − The Euro rallied on yesterday by E−Forex
The Euro rallied on yesterday attempting to re−test the all−time high at 1.5905 but it failed to get past 1.5900 and collapsed from 1.5896. The pair faces a double top in the 1.5900 area and the pullback from yesterday's top seem to be extending as the Euro is now trading around 1.5730. Downside risk is high and a potential break of the heavy support at 1.5725 would extend the current pullback towards 1.5680 and later to 1.5630 and lower at 1.5520.
- Understanding The Exact Process Behind The Movement In Price by Sam Seiden
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Banks' Analysis
Forex Technical Analysis − EUR/USD: (1.5780) Tried to regain Uptrendline off 1.4777 by KBC Bank
FX' Signal
Recent Recommended Trades by Ace Trader
Currencies at a Glance
- EUR/USD
- Back around opening price level 1.5805 after hit second resistant level 1.5888
04/01/2008 05:57 GMT - GBP/USD
- Trades around first support level 1.9853
04/01/2008 05:57 GMT - USD/CHF
- Back around first support level 0.9911 after drop to second support level 0.9872
04/01/2008 05:57 GMT - USD/JPY
- Continues to trade around pivot level 99.55
04/01/2008 05:57 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 PMI MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Apr 1 | 08:00 | PMI Manufacturing | 54.9 | 54.3 |
EMU economic indicators - German industrial new orders will probably have rebounded in February by BHF−Bank
EMU industrial confidence and economic sentiment could have improved in March, just like many of the corresponding national figures. The RBS purchasing managers' indices for the German and the EMU manufacturing sector for March are not likely to have been revised substantially.
[ Full Story ]Top Market Movers Review
Germany RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 1 | 06:00 | Retail Sales (YoY) | -0.3% | - | 0.3% |
| Apr 1 | 06:00 | Retail Sales (MoM) | -1.6% | - | 0.9% |
DATA SNAP: German Feb Retail Sales −1.6% On Mo, −0.3% On Yr (Dow Jones)
German retail sales fell in February, despite expectations of a modest increase, data from the Federal Statistics Office showed Tuesday. Retail sales fell 1.6% on the month, according to seasonally adjusted data.
[ Full Story ]- Read the report: Turnover in retail trade in February 2008 at German Statistics
- German retail sales decline unexpectedly in February (FXstreet.com)
- German Feb retail sales down 1.6 pct vs Jan, down 0.3 pct yr−on−yr (Thomson Financial News)
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 1 | 03:30 | RBA Interest Rate Decision | 7.25% | - | 7.25% |
Australia's central bank leaves target cash rate unchanged at 7.25 percent (Thomson Financial News)
The Reserve Bank of Australia said Tuesday it had decided to leave its target cash rate unchanged at 7.25 percent following its board's monthly policy meeting. The decision had been widely expected by economists, given that the RBA raised the cash rate by a quarter percentage point in February and again in March to take it to the highest level in more than 12 years.
[ Full Story ]- Read the Interest Rate Decision report at Reserve Bank of Australia
- Australia's rate hikes coming to an end as domestic demand slows − economists (Thomson Financial News)
- Australian dollar eases slightly after central bank leaves cash rate steady (Thomson Financial News)
Japan TANKAN LARGE MANUFACTURING INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 31 | 23:50 | Tankan Large Manufacturing Outlook | 7 | 9 | 16 |
| Mar 31 | 23:50 | Tankan Large Manufacturing Index | 11 | 13 | 19 |
Overnight Briefing: Far East Timezone - Tankan hits 4−years low by Jyske Bank
Business sentiment among big Japanese manufacturers has sunk to a four−year low, a Bank of Japan survey showed on Tuesday, in further evidence of a worsening economic outlook and reinforcing market speculation that the central bank may cut rates later in the year.
[ Full Story ]- Read the Tankan Outline report at Bank of Japan
- Japanese business confidence hits four−year low; rate outlook divided − UPDATE2 (Thomson Financial News)
- Japanese business confidence hits four−year low − UPDATE (Thomson Financial News)
- BoJ Tankan − March all companies production capacity index zero vs zero (Thomson Financial News)
Asia Market Update - Confidence among large Japanese manufacturers at a 4yr low by Trade The News
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 1 | 03:30 | AU | RBA Interest Rate Decision | 7.25% | 7.25% | |
| 06:00 | DE | ILO Unemployment Rate | 7.4% | 7.6% | ||
| 06:00 | DE | Retail Sales (MoM) (Feb) | -1.6% | 0.9% |
||
| 06:00 | DE | Retail Sales (YoY) (Feb) | -0.3% | 0.3% |
||
| 07:30 | CH | SVME − Purchasing Managers' Index (Mar) | 60.0 | 60.5 | ||
| 07:55 | DE | Unemployment Change (Mar) | -45K | -75K | ||
| 07:55 | DE | Unemployment Rate s.a. (Mar) | 7.9% | 8.0% | ||
| 08:00 | EMU | PMI Manufacturing (Mar) | 52.0 | 52.3 | ||
| 08:00 | DE | PMI Manufacturing (Mar) | 54.9 | 54.3 | ||
| 09:00 | UK | PMI Manufacturing (Mar) | 51.0 | 51.3 | ||