Tuesday, Aug 05, 07:41 GMT
EUROPEAN Trading Newsletter
Forex Blogs
European Morning readings
FX Path: Heikin Ashi Charts by James Chen
Heikin Ashi, as shown on the current daily EUR/USD chart to the left, is a Japanese charting technique that appears similar to traditional candlestick charts.
FX Bootcamp: Forex Video | News Trade Alert | August 5, 2008 by Wayne McDonell
Postcards from the Right Edge: New NZD/USD 4 hour trade by Rob Booker
Live Sessions Schedule
Outlook for the major currencies this week
Expert: Ian Copsey
Start: Tue, Aug 5, 08:00 GMT
Type of Session: Webinar
Live Coverage of FOMC US Interest Rate Announcement
Expert: Jerry Furst
Start: Tue, Aug 5, 17:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Aug 5, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Tue, Aug 5, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Aug 5, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Tue, Aug 5, 12:30 GMT | Dan Blystone's Weekly Briefing | Dan Blystone | WBN | |
Current Session: Europe
AUD/USD
Daily Forex Technical Report − AUD Free Fall after RBA Signals Cut, FOMC Next by ActionForex.com
AUD/USD dives further to as low as 0.9215 today and at this point, intraday bias remains on the downside as long as 0.9346 minor resistance holds. Current sharp fall from 0.9849 is expected to extend further to 38.2% retracement of 0.7675 to 0.9849 at 0.9019. On the upside, above 0.9346 will indicate that an intraday low is in place and bring recovery towards 0.9477 resistance. But upside should be limited below 0.9596 resistance and bring fall resumption.
- EURO and GBP are expected to make either way big swings... by Dr. S. Sivaraman, of i−knowindices.com
- Forex Swing Trading, Low Risk / High Reward Trading In The Largest by Sam Seiden, Stocks, Futures, Forex and Options Trader Online Trading Academy
- Institutional Trading Strategies by John Jagerson, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
Banks' Analysis
Forex Trading Strategies − USD pulls to new recent high ahead of this evening's FOMC meeting by Saxo Bank
Currency Performance Report
Currency Performance Report − Asia Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Trades around first support level 1.5542
08/05/2008 07:05 GMT - GBP/USD
- Moves down towards first support level 1.9557
08/05/2008 07:06 GMT - USD/CHF
- Trades around first resistant level 1.0514
08/05/2008 07:06 GMT - USD/JPY
- Moves down below pivot level 107.99
08/05/2008 07:07 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 FED INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Aug 5 | 18:15 | Fed Interest Rate Decision | 2% | 2% |
Daily Market Briefing - US Dollar Depends On Fed For Direction Next Week − Watch What They Say, Not What They Do by FXCM
The US dollar's consolidation continued on Friday as US non−farm payrolls (NFPs) failed to have a lasting impact on the currency. While the currency did initially jump across the majors on the news that NFPs were not quite as bad as expected at −51K (consensus expectation: −75K), the greenback pulled back over the following two hours. There were a few factors coming in to play here.
[ Full Story ]- Forex − Euro steady vs dollar as market awaits rate decisions this week (Thomson Financial News)
Market Session Snap−Shot - Asian Session − Light Trading Ahead of a Heavy CB Week by ACM − Advanced Currency Markets
Friday Notes - Mounting recession risks in Europe by HVB Group
Top Market Movers Review
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 5 | 04:30 | RBA Interest Rate Decision | 7.25% | 7.25% | 7.25% |
Australia's central bank keeps rates unchanged (Thomson Financial News)
Australia's central bank held interest rates unchanged at a 12−year high of 7.25 percent on Tuesday, defying growing pressure for a cut as the economy slows rapidly. The Reserve Bank of Australia (RBA), which held its monthly board meeting on Tuesday, raised rates twice earlier this year to cool the economy and combat an unwelcome rise in inflation.
[ Full Story ]- Read the Interest Rate Decision report at Reserve Bank of Australia
Trading News Report - RBA Rate Decision by FXCM
US FACTORY ORDERS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 4 | 14:00 | Factory Orders | 1.7% | 0.7% | 0.6% |
US Factory orders increase well above expectations in June (FXstreet.com)
FXstreet.com (Barcelona) – Factory orders have posted a larger than expected increase in June in The United States, reaching, after four months of consecutive increase, the highest level since series started in 1992, according to figures by the US Census Bureau.
[ Full Story ]- Read the complete report at Census Bureau
- US June factory orders up 1.7 pct, ex−transportation up 2.3 pct (Thomson Financial News)
- Table Of Data On Factory Orders From Commerce (Dow Jones)
- US Conference Bd: Jul Employment Trends Index −0.9% To 112.1 (Dow Jones)
US PERSONAL INCOME
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 4 | 12:30 | Personal Spending | 0.6 | 0.5 | 0.8 |
| Aug 4 | 12:30 | Core Personal Consumption Expenditure − Prices Index (YoY) | 2.3% | 2.2% | 2.1% |
| Aug 4 | 12:30 | Core Personal Consumption Expenditure − Prices Index (MoM) | 0.3% | 0.2% | 0.1% |
| Aug 4 | 12:30 | Personal Income (MoM) | 0.1% | -0.1% | 1.8% |
Friday Notes - Personal Income & Outlays by HVB Group
Tax rebates dramatically boosted income in May, and only the tail end of the rebate checks went out in June. Otherwise, wages and salaries were up moderately, leaving total personal income roughly unchanged. Spending continued to benefit from the fiscal injection, although less than half was spent. Consumers cut purchases of autos but managed to do a lot of shopping at malls.
[ Full Story ]- European govt bonds pare gains on strong U.S consumer spending data (Thomson Financial News)
- US Economic Indicators: Latest 6 Months Data−Aug 4 (Dow Jones)
- US Personal Income−STATS−Historical (Dow Jones)
Mid−Day Forex Technical Report − Dollar Steady after PCE, Sterling Remains Pressured by ActionForex.com
Daily Forex Technical Report − Sterling Lower on Cross Actions, Dollar Steady ahead of PCE by ActionForex.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 4 | 12:30 | US | Personal Income (MoM) (Jun) | 0.1% | -0.1% | 1.8% |
| 14:00 | US | Factory Orders (Jun) | 1.7% | 0.7% | 0.6% | |
| Aug 5 | 03:00 | NZ | ANZ Commodity Price (Jul) | 1.8% | 0.0% | |
| 04:30 | AU | RBA Interest Rate Decision | 7.25% | 7.25% | 7.25% | |
| 07:55 | DE | Purchasing Manager Index Services (Jul) | 53.3 | 52.1 | ||
| 08:00 | EMU | Purchasing Manager Index Services (Jul) | 48.3 | 49.1 | ||
| 08:30 | UK | Industrial Production (MoM) (Jun) | 0.1% | -0.8% | ||
| 08:30 | UK | Industrial Production (YoY) (Jun) | -1.2% | -1.6% | ||
| 08:30 | UK | Manufacturing Production (MoM) (Jun) | 0.1% | -0.5% | ||
| 08:30 | UK | Manufacturing Production (YoY) (Jun) | -0.6% | -0.8% | ||