Thursday, May 01, 07:43 GMT
EUROPEAN Trading Newsletter
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Live Sessions Schedule
Trend Trading − One Strategy, Any Time Frame
Expert: Sam Seiden
Start: Thu, May 1, 14:00 GMT
Type of Session: Webinar
How to Get Started Trading Forex
Expert: Steve Primo
Start: Thu, May 1, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, May 1, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, May 1, 14:00 GMT | Trend Trading − One Strategy, Any Time Frame | Sam Seiden | WBN |  |
| Thu, May 1, 15:00 GMT | How to Get Started Trading Forex | Steve Primo | WBN | |
| Thu, May 1, 16:00 GMT | The Day Trading Coach − Tips, Tricks and Strategies for Day Traders | Markus Heitkoetter | WBN | |
Current Session: Europe
EUR/USD
Daily Market Commentary − The dollar ended the month of April in choppy or aggressive conditions by Global Forex Trading
Euro/dollar reversed from its lowest level since April 3 to close higher on Wednesday. My model remains short, but the upside risk should continue to Friday. Immediate resistance is at 1.5645. A break above it would signal a more aggressive recovery to 1.5690. Distant resistance is at 1.5790. Initial support is at 1.5570. The next level is 1.5480. Distant support is 1.5355.
- Weekly Technical Briefing by Dan Blystone, Founder TradersLog.com
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Other Topics for this Session:
Picking Tops and Bottoms − Euro / Yen Sets Up For Bears...Again by FXCM
Banks' Analysis
Daily U.S. Forex Summary − The US dollar extended its gains against a basket of currencies by Union Bank of California
Currencies at a Glance
- EUR/USD
- Drops below pivot level 1.5593
05/01/2008 07:29 GMT - GBP/USD
- Trades around opening price level 1.9868 , above pivot level 1.9795
05/01/2008 07:30 GMT - USD/CHF
- Moves up above opening price level 1.0346 , below pivot level 1.0371
05/01/2008 07:30 GMT - USD/JPY
- Back around opening price level 103.93 , below pivot level 104.16
05/01/2008 07:30 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 PMI MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| May 1 | 08:30 | PMI Manufacturing | 50.8 | 51.3 |
Friday Notes - ECB rate cuts – merely postponed! by HVB Group
After having held up in the last two months, we expect the manufacturing PMI to have fallen slightly below its long−term average in April to 50.7. The credit squeeze coupled with oil prices setting new records should keep weighing on sentiment. Some relief will come from a weaker currency which is supporting UK exports. Output prices are likely to remain high, reflecting the upward trend in commodity prices.
[ Full Story ]Top Market Movers Review
Australia BUILDING PERMITS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 1 | 01:30 | Building Permits (YoY) | -0.7% | - | -1.6% |
| May 1 | 01:30 | Building Permits (MoM) | -5.7% | -0.5% | -0.8% |
Australian Mar Bldg Approvals Fall 5.7% Vs Feb (Dow Jones)
The total number of Australian houses and apartments approved for construction fell a seasonally adjusted 5.7% in March from February, the Australian Bureau of Statistics said Thursday. Economists had expected on average that total residential building approvals fell 1.0% from the month before.
[ Full Story ]- Read the Building Approvals report at Australian Bureau of Statistics
- Australian building approvals fall 5.7 pct in March, more than forecast (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 1 | 01:30 | AU | Building Permits (MoM) (Mar) | -5.7% | -0.5% | -0.8% |
| 01:30 | AU | Building Permits (YoY) (Mar) | -0.7% | -1.6% | ||
| 01:30 | JP | Labor Cash Earnings (YoY) (Mar) | 1.2% | 1.2% | 1.5% | |
| 05:00 | JP | Vehicle Sales (YoY) (Apr) | 6.9% | -3.3% | ||
| 08:30 | UK | PMI Manufacturing (Apr) | 50.8 | 51.3 | ||
| 12:30 | US | Continuing Jobless Claims (Apr 19) | 2934K | |||
| 12:30 | US | Core Personal Consumption Expenditure − Prices Index (MoM) (Mar) | 0.1% | 0.1% | ||
| 12:30 | US | Core Personal Consumption Expenditure − Prices Index (YoY) (Mar) | 2% | 2% | ||
| 12:30 | US | Initial Jobless Claims (Apr 26) | 360K | 342K | ||
| 12:30 | US | Personal Income (MoM) (Mar) | 0.4% | 0.5% | ||