Friday, Jul 11, 07:39 GMT
EUROPEAN Trading Newsletter
THE FOREX GAME: Training Week
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- Webinar VIDEOS: Trading Break Out's And Other Market Views by Phil Newton
- NEW BLOG: The Trader's Edge by Ross Yamashita
- FX Path: EUR/USD Thursday Evening (NY) Video Update by James Chen
- Postcards from the right edge: NZD/USD Frustrates me. It is like an angry cat. Grrr by Rob Booker
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Live Sessions Schedule
Advanced APF Methods To Determine The Price Momentum
Expert: Sunil Mangwani
Start: Fri, Jul 11, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Jul 11, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Jul 11, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN | |
| Fri, Jul 11, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Fri, Jul 11, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Fri, Jul 11, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
Current Session: Europe
GBP/USD
Daily Market Commentary − The dollar was all over the place on Thursday by Global Forex Trading
Sterling/dollar fell sharply early Thursday but reduced its losses by the close. My model went short, but I expected sideways trading today. Below 1.9775, support is still seen at 1.9730. Distant support is now seen at 1.9650. Initial resistance is seen at 1.9840. Above 1.9908, cable now faces distant resistance at 2.0004.
- 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
Other Topics for this Session:
Daily Recommended Trades − Daily technical outlook − Friday 07.11.2008 by E−Forex
Technical Trader Closing Brief − Topsy−Turvy Session Ends Higher on Late Rally by The Technical Trader
Bank's Analysis
Overnight Briefing − USD and GBP decline by Jyske Bank
Currency Performance
Currency Performance Report − Asia Session Performance by FXstreet.com
FX Analysts' Comments
Bernanke & Paulson − Together Again! by Jerry Furst, Director Investors Education Network
NZD/USD Frustrates me. It is like an angry cat. Grrr by Rob Booker, Currency Trader
Currencies at a Glance
- EUR/USD
- Trades above pivot level 1.5760
07/11/2008 06:50 GMT - GBP/USD
- Moves down below pivot level 1.9776
07/11/2008 06:51 GMT - USD/CHF
- Moves up above pivot level 1.0289
07/11/2008 06:51 GMT - USD/JPY
- Moves up towards first resistant level 107.42
07/11/2008 06:53 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 TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Jul 11 | 12:30 | Trade Balance | -$62.2B | -$60.9B |
US economic indicators - The trade deficit is likely to have risen noticeably again due to the surge in import prices by BHF−Bank
The trade deficit increased by more than $4bn to $60.9bn in April, although exports rose sharply by 3.3% mom. But due to the surge in import prices, nominal imports went up even more sharply, by 4.5% mom.
[ Full Story ]Top Market Movers Review
Japan CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 11 | 05:00 | Consumer Confidence Households | 32.6 | - | 33.9 |
| Jul 11 | 05:00 | Consumer Confidence | 32.9 | - | 33.9 |
Japan Govt: Jun Consumer Sentiment Index 32.6 Vs May 33.9 (Dow Jones)
Consumer sentiment in Japan worsened in June from the previous month for the third straight month, the government said Friday. The index for the Cabinet Office's consumer confidence survey, which measures consumers' economic outlook for the coming six months, fell 1.3 points to 32.6 in June from May's reading of 33.9. The result was a new record low, the government said.
[ Full Story ]- Read the Consumer Confidence report at Japan Cabinet Office
- Japanese consumer confidence drops to record low in June (Thomson Financial News)
Japan INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 11 | 04:30 | Industrial Production (MoM) | 2.8% | - | -0.2% |
| Jul 11 | 04:30 | Industrial Production (YoY) | 1.1% | - | 1.9% |
| Jul 11 | 04:30 | Capacity Utilization | 2.2 | - | 105.9 |
Japan May Revised Indus Output +2.8% M/M Vs +2.9% Prelim (Dow Jones)
The Japanese government Friday revised industrial output data for May to show a worse performance in production and shipments than it initially reported about two weeks ago. The Ministry of Economy, Trade and Industry said industrial output rose 2.8% on month in May, compared with a 2.9% gain in the preliminary data. Shipments rose 2.0%, worse than a preliminary 2.1% climb.
[ Full Story ]- Read the Industrial Production report at Japan Ministry of Economy, Trade and Industry
- Japan's revised May industrial output up 2.8 pct, slower than initial reading (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 11 | 04:30 | JP | Industrial Production (MoM) (May) | 2.8% | -0.2% | |
| 04:30 | JP | Industrial Production (YoY) (May) | 1.1% | 1.9% | ||
| 05:00 | JP | Consumer Confidence (Jun) | 32.9 | 33.9 | ||
| 05:00 | JP | Consumer Confidence Households (Jun) | 32.6 | 33.9 | ||
| 11:00 | CA | Net Change in Employment (Jun) | 10.0K | 8.4K | ||
| 11:00 | CA | Unemployment Rate (Jun) | 6.1% | 6.1% | ||
| 12:30 | US | Import Price Index (MoM) (Jun) | 1.9% | 2.3% | ||
| 12:30 | US | Import Price Index (YoY) (Jun) | 17.8% | |||
| 12:30 | CA | International Merchandise Trade (May) | $5.00B | $5.11B | ||
| 12:30 | CA | New Housing Price Index (YoY) (May) | 5.2% | |||