Wednesday, Apr 30, 07:57 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: MONTHLY WEBINAR: Conversations with a Pro Trader - Part I and Part II by Andrei Pehar
- Central Banks − Fed: Preview of Apr 30 Meeting by FXstreet.com
- Tradable Rates: Bid and Ask prices in real−time
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Apr 30, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Watch Live Coverage of the US GDP
Expert: Jerry Furst
Start: Wed, Apr 30, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Apr 30, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Apr 30, 11:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
| Wed, Apr 30, 13:30 GMT | Forex with Ed Ponsi  | Ed Ponsi | WBN |  |
| Wed, Apr 30, 15:00 GMT | Institutional Trading Strategies | Andrei Pehar | WBN | |
Current Session: Europe
EUR/USD
Forex Technical Analysis − EUR/USD: (1.5580) Below 1.5710 by KBC Bank
Short Term Double Top off 1.5710 (see graph), after near perfect Reversal Day at high: 1st Support area at 1.5540/ .5530 (current week low/ daily Bollinger bottom), with next levels at 1.5510 (April 03 low), where pause favored.
If wrong, next levels at 1.5456/ .5444 (daily envelope bottom + Equality C wave off 1.6020/ weekly envelope bottom): tough on 1st attempts.
- 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 1.5575 by Mizuho Corporate Bank
Currency Performance
Currency Performance Report − Asia Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Moves up above pivot level 1.5591
04/30/2008 07:53 GMT - GBP/USD
- Moves down towards first support level 1.9602
04/30/2008 07:53 GMT - USD/CHF
- Moves down towards first support level 1.0326
04/30/2008 07:53 GMT - USD/JPY
- Moves down below pivot level 103.86
04/30/2008 07:54 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
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Apr 30 | 09:00 | Consumer Price Index (YoY) | 3.4% | 3.5% |
EMU economic indicators - German retail sales might have stabilized in March by BHF−Bank
The Eurostat flash estimate is likely to show that euro area inflation has decelerated slightly to 3.5% yoy in April. This would correspond with a monthly increase of 0.6% in unadjusted terms. As in Germany, the monthly inflation will probably have been mainly due to record high crude oil prices and higher prices for seasonal food.
[ Full Story ]Top Market Movers Review
UK NATIONWIDE HOUSING PRICES S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 30 | 06:00 | Nationwide Housing Prices n.s.a (YoY) | -1.0% | - | 1.1% |
| Apr 30 | 06:00 | Nationwide Housing Prices s.a (MoM) | -1.1% | - | -0.6% |
DATA SNAP: UK Nationwide House Prices Fall On Year In April (Dow Jones)
U.K. house prices posted their first year−on−year drop for 12 years in April as tighter lending conditions and the weaker economy continued to sap demand for residential property, data from the Nationwide Building Society showed Wednesday.
[ Full Story ]- Read the House Prices data at Nationwide
- UK house prices 1.0 pct lower than a year earlier − Nationwide (Thomson Financial News)
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 30 | 04:00 | BoJ Interest Rate Decision | 0.5% | - | 0.5% |
Bank of Japan leaves overnight call rate target unchanged at 0.5 percent (Thomson Financial News)
The Bank of Japan left its overnight call rate target unchanged at 0.5 percent for the 17th straight meeting on Wednesday, as widely expected. The central bank had wanted time to further assess how much the U.S. economy, one of Japan's most important trading partners, will slow down and whether the continuing credit crisis and housing market weakness in the U.S. will hurt global economic growth.
[ Full Story ]- Read the Interest Rate Decision report at Bank of Japan
- Bank of Japan returns to neutral policy, cuts GDP forecast for FY08 (Thomson Financial News)
- Bank of Japan leaves overnight call rate target unchanged at 0.5 pct − UPDATE (Thomson Financial News)
Start the Day - Bank of Japan keeps rates on hold at 0.50% by Mizuho Corporate Bank
Japan: Bank of Japan preview by Danske Bank A/S
UK GFK CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 29 | 23:01 | Gfk Consumer Confidence | -24 | -20 | -19 |
DJ DATA SNAP: UK Consumer Confidence Weakest Since Nov 1992 (Dow Jones)
U.K. consumers are feeling gloomier than they have for nearly 16 years as pessimism about the outlook for the economy deepens. According to the results of a monthly survey released by polling firm GfK NOP Friday, the headline measure of consumer confidence fell to −24 in April from −19 in March, its lowest level since November 1992.
[ Full Story ]- Read the Consumer Confidence report at Gfk website
- UK April consumer confidence lowest since November 1992 − GfK NOP (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 30 | 06:00 | UK | Nationwide Housing Prices n.s.a (YoY) | -1.0% | 1.1% | |
| 07:30 | JP | BoJ's Governor Masaaki Shirakawa Speech | ||||
| 07:55 | DE | Unemployment Change (Mar) | -30K | -55K | ||
| 07:55 | DE | Unemployment Rate s.a. (Apr) | 7.9% | 7.8% | 7.9% |
|
| 09:00 | EMU | Consumer Confidence (Apr) | -13 | -12 | ||
| 09:00 | EMU | Consumer Price Index (YoY) (Apr)  | 3.4% | 3.5% | ||
| 09:00 | EMU | Economic Confidence (Apr) | 98.9 | 99.6 | ||
| 09:00 | EMU | Unemployment Rate (Mar) | 7.1% | 7.1% | ||
| 09:30 | CH | KOF Leading Indicator (Apr) | 1.46 | 1.54 | ||
| 11:00 | US | MBA Mortgage Applications (Apr) | -14.2% | |||