Friday, May 02, 07:18 GMT
EUROPEAN Trading Newsletter
To Get Started
- From the Editor's Desk: German retail sales, weaker than expected in March
- Tradable Rates: Bid and Ask real−time prices
- FX Services: Day trading resources
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Live Sessions Schedule
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 24th Edition
Expert: Wayne McDonell
Start: Fri, May 2, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, May 5, 16:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, May 2, 11:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 24th Edition | Wayne McDonell | WBN | |
| Mon, May 5, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Steve Primo | WBN |  |
| Mon, May 5, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN | |
| Tue, May 6, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | 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:
Market Session Recaps − Asia Session by FOREX.com
Banks' Analysis
Daily U.S. Forex Summary − The US dollar rallied to a 5 week high against the euro by Union Bank of California
Currencies at a Glance
- EUR/USD
- Trades around opening price level 1.5473 , below pivot level 1.5515
05/02/2008 07:00 GMT - GBP/USD
- Trades below pivot level 1.9789
05/02/2008 07:00 GMT - USD/CHF
- Trades around opening price level 1.0481 , above pivot level 1.0442
05/02/2008 07:01 GMT - USD/JPY
- Moves up above first resistant level 104.84
05/02/2008 07:01 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
US NONFARM PAYROLLS
| Date (GMT) | Event | Cons. | Previous | |
| May 2 | 12:30 | Unemployment Rate | 5.2% | 5.1% |
| May 2 | 12:30 | Average Weekly Hours | 33.7 | 33.8 |
| May 2 | 12:30 | Average Hourly Earnings (MoM) | 0.3% | 0.3% |
| May 2 | 12:30 | Average Hourly Earnings (YoY) | 3.6% | 3.6% |
| May 2 | 12:30 | Nonfarm Payrolls | -78 | -80K |
Weekly Market View - Keep your eyes open for the Fed interest rate decision and the big Non−Farm Payrolls by FXstreet.com
In the US, the Unemployment Rate ( Previous 5.1% ) , Non−Farm Payrolls (NFP, Previous −80K ), the Average Hourly Earnings ( Previous 0.3% ) and the Average Weekly Earning are the events to watch, especially the "Non−Farm payrolls (NFP)", which is expected to have a big impact on the USD against the other Majors.All of the events are released at 12:30 GMT.
[ Full Story ]- SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 24th Edition with Wayne McDonell
Top Market Movers Review
Germany RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 2 | 06:00 | Retail Sales (MoM) | -0.1% | 0.6% | -0.7% |
| May 2 | 06:00 | Retail Sales (YoY) | -6.3% | -2.3% | 2.5% |
German retail sales, weaker than expected in March (FXstreet.com)
Retail sales have decreased in March, despite the mild increment forecasted by the analysts, according to data released by German Statistics. From March last year, retail sales have decreased 6.3% in real terms, and 3.7% in nominal terms, on the month, sales have edged down 0.1%.
[ Full Story ]- Read the Retail Sales report at Destatis.de
- German March retail sales down 0.1 pct from Feb, down 6.3 pct year−on−year (Thomson Financial News)
- Germany Retail Sales, 0.1% down in Mar; 6.3% down on year (FXstreet.com)
- DATA SNAP: German Mar Real Retail Sales −0.1% MM, −6.3% YY (Dow Jones)
EMU economic indicators - German retail sales might have stabilized in March by BHF−Bank
Australia RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 2 | 01:30 | Retail Sales (MoM) | 0.5% | 0.3% | -0.1% |
DATA SNAP: Australia Mar Retail Sales Rise 0.5% Vs Feb (Dow Jones)
Australian retail sales rose a higher−than−expected 0.5% to a seasonally adjusted A$20.18 billion in March from A$20.08 billion in February and rose from A$19.20 billion a year earlier, the Australian Bureau of Statistics said Friday. Economists surveyed ahead of the announcement on average had expected a 0.2% rise in sales for March.
[ Full Story ]- Read the Retail Sales report at Australian Bureau of Statistics
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 2 | 01:30 | AU | Retail Sales (MoM) (Mar) | 0.5% | 0.3% | -0.1% |
| 06:00 | DE | Retail Sales (MoM) (Mar) | -0.1% | 0.6% | -0.7% |
|
| 06:00 | DE | Retail Sales (YoY) (Mar) | -6.3% | -2.3% | 2.5% |
|
| 07:00 | UK | Halifax House Prices (MoM) (Apr) | -1.3% | -2.5% | ||
| 07:30 | CH | SVME − Purchasing Managers' Index (Apr) | 55.0 | 55.3 | ||
| 08:00 | EMU | PMI Manufacturing (Apr) | 50.8 | 52.0 | ||
| 08:00 | DE | PMI Manufacturing (Apr) | 53.6 | 55.1 | ||
| 08:30 | UK | CIPS PMI Construction (Apr) | 47.0 | 47.2 | ||
| 12:30 | US | Average Hourly Earnings (MoM) (Apr) | 0.3% | 0.3% | ||
| 12:30 | US | Average Hourly Earnings (YoY) (Apr) | 3.6% | 3.6% | ||