Tuesday, Apr 29, 07:38 GMT
EUROPEAN Trading Newsletter
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Tue, Apr 29, 11:00 GMT
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Type of Session: Webinar
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, Apr 29, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Apr 29, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN | |
| Tue, Apr 29, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Tue, Apr 29, 13:30 GMT | Forex with Ed Ponsi | Ed Ponsi | WBN | |
| Tue, Apr 29, 15:00 GMT | Trading with Autochartist | Raghee Horner | WBN | |
Current Session: Europe
EUR/USD
Daily Market Commentary − Dollar struggled higher versus the euro, franc and yen, but slumped versus the pound by Global Forex Trading
Euro/dollar added to its Thursday's losses but at much slower pace. Again, it's premature to call the end of the major uptrend, and the initial bias is up. My model remains short but the selling pressure should decelerate. Don't leave your guard down, this pair may still bounce. Initial resistance is at 1.5680. The next level is 1.5760. Distant resistance is at 1.5820. Immediate support is now seen at 1.5600. The next level is 1.5556. Below the important level at 1.5480, euro/dollar has support at 1.5415.
- Using Fibonacci levels to project price targets and timing by John Jagerson, Founder Profiting With Forex
- 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
Daily Technical Analysis − EUR: Possibly attempt tiny longs at 1.5630; stop below 1.5500. Short term target 1.5700/1.5750 by Mizuho Corporate Bank
Currency Performance
Currency Performance Report − Asia Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Drops toward second support level 1.5549
04/29/2008 07:17 GMT - GBP/USD
- Moves down below pivot level 1.9886
04/29/2008 07:17 GMT - USD/CHF
- Moves up toward second resistant level 1.0402
04/29/2008 07:18 GMT - USD/JPY
- Trades below pivot level 1046.36
04/29/2008 07:18 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
UK M4 MONEY SUPPLY
| Date (GMT) | Event | Cons. | Previous | |
| Apr 29 | 08:30 | M4 Money Supply (YoY) | 12.4% | 12.4% |
| Apr 29 | 08:30 | M4 Money Supply (MoM) | 0.4% | 0.2% |
Mid−Day Forex Technical Report − Sterling Rebounds Strongly, Another Steep Fall in Euro by ActionForex.com
Sterling staged a strong across the board today after the release of Q1 GDP. On a quarter to quarter basis, GDP growth in UK slowed from 0.6% to 0.4%, inline with expectation. Year over year rate slowed from 2.8% to 2.5%, missed expectation of 2.6% and being the slowest pace in three years.
[ Full Story ]Top Market Movers Review
Australia NATIONAL AUSTRALIA BANK'S BUSINESS CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 29 | 01:30 | National Australia Bank's Business Confidence(QoQ) | -4 | - | 6 |
Australia's NAB business confidence index falls to lowest level since March 2001 (Thomson Financial News)
National Australia Bank Ltd. (NAB) said on Tuesday its business confidence index fell 10 points to minus 4 in the first quarter, the lowest reading since March 2001, raising worry that the economy may be slowing faster than expected. "The combination of much tighter financial conditions, falling global equity markets and the global credit crunch has produced a sharp fall in business confidence," said NAB chief economist Alan Oster.
[ Full Story ]- Read the Business Confidence report at NAB website
New Zealand TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 28 | 22:45 | Trade Balance | -50M | 390M | 258M |
New Zealand posts surprise trade deficit in March (Thomson Financial News)
New Zealand posted a surprise trade deficit in March, only the second time the trade balance for the month went into the red during the last decade, official figures showed on Tuesday. The trade deficit for the peak agricultural exporting month was NZ$50 million ($39.3 million), according to Statistics New Zealand (SNZ), which compared with economists' predictions of a surplus of around NZ$400 million.
[ Full Story ]- Read the Trade Balance report at Statistics New Zealand
Overnight Briefing: Far East Timezone - Kiwi fell after surprise March trade deficit by Jyske Bank
Morning Report - The New Zealand dollar has softened since Thursday's cash rate review by Westpac Institutional Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 28 | 15:45 | DE | Consumer Price Index (MoM) (Apr)  | -0.2% | 0.2% | 0.5% |
| 15:45 | DE | Consumer Price Index (YoY) (Apr) | 2.4% | 2.8% | 3.1% | |
| 22:45 | NZ | Trade Balance (Mar) | -50M | 390M | 258M | |
| Apr 29 | 01:30 | AU | National Australia Bank's Business Confidence(QoQ) (1Q) | -4 | 6 | |
| 08:00 | EMU | Bloomberg Retail PMI (Apr) | 48.2 | |||
| 08:00 | DE | Bloomberg Retail PMI (Apr) | 51.5 | |||
| 08:00 | CH | UBS Consumption Indicator (Mar) | 2.321 | |||
| 08:30 | UK | M4 Money Supply (MoM) (Mar) | 0.4% | 0.2% | ||
| 08:30 | UK | M4 Money Supply (YoY) (Mar) | 12.4% | 12.4% | ||
| 08:30 | UK | M4 Sterling Lending (Mar) | £16.8B | £17.6B | ||