Tuesday, Jul 01, 07:18 GMT
EUROPEAN Trading Newsletter
THE FOREX GAME: Win a Sony Vaio
The Dollar is bearish, but the Duellar is bullish. Play on real charts: Challenge fellow traders, snatch their duellars and win a SONY VAIO!.Sponsored by:
To Get Started
- Webinar VIDEOS: MONTHLY WEBINAR - Understanding The Creation Of Candles In Forex Trading by Sam Seiden
- FX Market Readings: Holding to drop... by Dr. S. Sivaraman
- Real-Time Economic Calendar: Be notified straight into your RSS reader when a new event is released
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Live Sessions Schedule
Outlook for the major currencies this week
Expert: Ian Copsey
Start: Tue, Jul 1, 08:00 GMT
Type of Session: Webinar
Dan Blystone's Daily Briefing
Expert: Dan Blystone
Start: Tue, Jul 1, 12:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Jul 1, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Tue, Jul 1, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Jul 1, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN | |
| Tue, Jul 1, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
Current Session: Europe
EUR/USD
Forex Technical Analysis − EUR/USD: (1.5742) In channel off 1.5302 by KBC Bank
Sharp rebound off 1.5302, with pair in channel off 1.5302 (see graph): 1st Support area at 1.5724/ .5716 (daily envelope bottom/ reaction low hourly), with next levels at 1.5687 (break−up hourly), ahead of 1.5651/ .5645 (break−up weekly/ daily projection band bottom): ideal area to stay above to keep current short term mood intact on €.
- Dan Blystone's Daily Briefing − Webinar
- The Advisor Weblog by Valeria Bednarik, Analyst at MolFX − Management
- The Forex Game: Stop Losing Dollars... Win Duellars!
- Longer−term Support and Resistance Trading: Setups and Rules Rob Booker, Founder and Host TraderRadio.net
- Check out how pairs moved: Live Currency Rates & Charts
Banks' Analysis
Forex Trading Strategies − AUD weaker on ugly data and dovish RBA talk by Saxo Bank
Daily Forex Commentary − The Waiting Game Has Begun by Jyske Bank
Weekly Analysis
Weekly Update − The euro is building upon last week's gains, rising above $1.58 by Union Bank of California
Weekly Analysis − The dollar's decline and the widening deficit by Finotec Group Inc.
FX Analysts' Comments
Holding to drop.... by Dr. S. Sivaraman, of i−knowindices.com
Forex Video | News Trade Alert | July 1, 2008 by Wayne McDonell, FxBootcamp.com
Currencies at a Glance
- EUR/USD
- Trades around opening price level 1.5754 , below pivot level 1.5774
07/01/2008 07:03 GMT - GBP/USD
- Moves up above first resistant level 1.9966
07/01/2008 07:04 GMT - USD/CHF
- Trades around opening price level 1.0210 , above pivot level 1.0185
07/01/2008 07:04 GMT - USD/JPY
- Trades around pivot level 105.89
07/01/2008 07:04 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 UNEMPLOYMENT RATE S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Jul 1 | 07:55 | Unemployment Rate s.a. | 7.9% | 7.9% |
| Jul 1 | 07:55 | Unemployment Change | -15K | 4K |
EMU economic indicators - German adjusted unemployment could have fallen by 20k in June by BHF−Bank
German adjusted unemployment rose slightly by 4k in May. The first increase since March 2006 does not indicate a turnaround on the labour market, however, but was mainly due to seasonal effects.
[ Full Story ]Top Market Movers Review
UK NATIONWIDE HOUSING PRICES S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 1 | 06:00 | Nationwide Housing Prices s.a (MoM) | -0.9% | 1.0% | -2.5% |
| Jul 1 | 06:00 | Nationwide Housing Prices n.s.a (YoY) | -6.3% | -6.4% | -4.4% |
UK Nationwide Jun House Prices −0.9% On Mo; −6.3% On Yr (Dow Jones)
U.K. house prices fell for the eighth straight month in June although last month's decline was the weakest since March, the Nationwide Building Society said Tuesday.
[ Full Story ]- Read the HPI data at Nationwide
- UK Nationwide house prices continue declining in June, although at a slower pace (FXstreet.com)
- UK house prices down 0.9 percent in June from May − Nationwide (Thomson Financial News)
- United Kingdom Nationwide Housing Prices decline 0.9% in Jun; 6.3% down year on year (FXstreet.com)
Germany RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 1 | 06:00 | Retail Sales (YoY) | 0.7% | -1.1% | -1.0% |
| Jul 1 | 06:00 | Retail Sales (MoM) | 1.3% | 0.8% | -0.6% |
DATA SNAP: German May Retail Sales Real Adj +1.3% MM (Dow Jones)
German retail sales rose more than twice faster than expected in May after two months of decline, data from the Federal Statistics Office showed Tuesday.
[ Full Story ]- Read the Retail Sales data at German Statistics
- German May retail sales up 1.3 percent from April, up 0.7 pct yr−on−yr (Thomson Financial News)
- Germany Retail Sales increase 1.3% in May; 0.7% up on the year (FXstreet.com)
Japan TANKAN LARGE ALL INDUSTRY CAPEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 30 | 23:50 | Tankan Large Manufacturing Outlook | 4 | 2 | 7 |
| Jun 30 | 23:50 | Tankan Non − Manufacturing Outlook | 8 | 7 | 13 |
| Jun 30 | 23:50 | Tankan Large Manufacturing Index | 5 | 3 | 11 |
| Jun 30 | 23:50 | Tankan Non − Manufacturing Index | 10 | 2 | 12 |
| Jun 30 | 23:50 | Tankan Large All Industry Capex | 2.4% | 2.0% | -1.6% |
Japan's Q2 Tankan to show further drop in business confidence on profit woes (Thomson Financial News)
The Bank of Japan's Tankan survey due out on Tuesday is expected to underscore a further decline in business confidence in the second quarter, due to mounting worries over profits stemming from rising energy and basic material costs and slowing domestic demand. Corporate Japan is also expected to scale back profit projections, which forms a key element in assessing the direction of capital investments, thereby showing greater downside risks to the corporate sector which has supported the longest economic recovery in the post−World War II period.
[ Full Story ]- Read the Tankan Outline report at Bank of Japan
- BOJ Tankan: Big Mfrs Diffusion Index 5; Mkt Expected 3 (Dow Jones)
- Japanese govt bonds close slightly higher on weak stocks, ahead of Tankan (Thomson Financial News)
- Japanese govt bonds end morning little changed ahead of BoJ Tankan (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 1 | 06:00 | DE | ILO Unemployment Rate (May) | 7.4% | 7.4% | 7.4% |
| 06:00 | UK | Nationwide Housing Prices s.a (MoM) (Jun) | -0.9% | 1.0% | -2.5% | |
| 06:00 | DE | Retail Sales (MoM) (May) | 1.3% | 0.8% | -0.6% |
|
| 06:30 | AU | RBA Commodity Index SDR (YoY) (Jun) | 37.8% | 26.4% |
||
| 07:30 | CH | SVME − Purchasing Managers' Index (Jun) | 55.0 | 55.7 | ||
| 07:55 | DE | PMI Manufacturing (Jun) | 52.3 | 53.6 | ||
| 07:55 | DE | Unemployment Change (Jun) | -15K | 4K | ||
| 07:55 | DE | Unemployment Rate s.a. (Jun) | 7.9% | 7.9% | ||
| 08:00 | EMU | PMI Manufacturing (Jun) | 49.1 | 50.6 | ||
| 08:30 | UK | PMI Manufacturing (Jun) | 49.8 | 50.0 | ||