Wednesday, Aug 06, 07:29 GMT
EUROPEAN Trading Newsletter
Forex Blogs
After the storm...
1st on Forex: FOMC Holds Rates Steady − Dollar Holds by Jerry Furst
There is the possibility that the FED may not raise rates until after the election in November. So much for a "independent" Federal reserve an just doing what is right...
Postcards from the Right Edge: Thoughts for a new trader by Rob Booker
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Aug 6, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Aug 6, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Aug 5, 17:30 GMT | Live Coverage of FOMC US Interest Rate Announcement | Jerry Furst | WBN |  |
| Wed, Aug 6, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Aug 6, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Aug 6, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
Current Session: Europe
EUR/USD
Daily Market Commentary − The dollar made sharp gains on Tuesday by Global Forex Trading
The euro/dollar collapsed on Tuesday and soft regional data didn't help. Following some early recovery, the decline should resume. Initial support now comes from a new pivot low at 1.5449. Further support follows at 1.5420. Distant support is at 1.5305. Immediate resistance is at 1.5517. This is followed by 1.5580 and 1.5630. Above 1.5700, distant resistance is 1.5770 from a Fibonacci retracement level.
- FOMC Holds Rates Steady − Dollar Holds by Jerry Furst, Director Investors Education Network
- 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
Other Topics for this Session:
Market Session Recaps − Asia Session by FOREX.com
Banks' Analysis
Today's Technical Trading Points by Danske Bank A/S
Currency Performance Report
Currency Performance Report − Asia Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Continues to move down below third support level 1.5466
08/05/2008 18:48 GMT - GBP/USD
- Trades around first support level 1.9557
08/05/2008 18:48 GMT - USD/CHF
- Trades around second resistant level 1.0546
08/05/2008 18:48 GMT - USD/JPY
- Moves up back above pivot level 107.99
08/05/2008 18:48 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 FACTORY ORDERS S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Aug 6 | 10:00 | Factory Orders n.s.a. (YoY) | -4.7% | -2.0% |
| Aug 6 | 10:00 | Factory Orders s.a. (MoM) | 0.4% | -0.9% |
EMU economic indicators - German industrial new orders (June): down by BHF−Bank
German industrial new orders probably plummeted in June, as the correlated climate indicators deteriorated. However, output in the German producing sector could have remained stable: the correlated indicators painted a mixed picture and the relatively high number of working days will have had a positive effect. The German trade balance and current account are likely to have recovered, as is usually the case in June.
[ Full Story ]Friday Notes - Mounting recession risks in Europe by HVB Group
Top Market Movers Review
Australia HOME LOANS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 6 | 01:30 | Home Loans | -3.7% | -2.0% | -7.9% |
| Aug 6 | 01:30 | Investment Lending | -0.3% | - | -6.8% |
Australian Jun Housing Finance Falls 3.7% Vs May (Dow Jones)
The number of housing−finance approvals in Australia fell a seasonally adjusted 3.7% in June from May, the Australian Bureau of Statistics said Wednesday. Economists surveyd ahead of the announcement on average had expected a fall of 2.0% in June. The value of investment housing loans in June fell 0.3% from May.
[ Full Story ]- Read the Housing Finance report at Australian Bureau of Statistics
- UPDATE 1−Australia home loans fall for fifth month (Thomson Financial News)
- Australia June housing finance falls 3.7 pct (Thomson Financial News)
UK NATIONWIDE CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 5 | 23:01 | Nationwide Consumer Confidence | 51 | 57 | 63 |
UK consumer confidence falls by record amount in July − Nationwide (Thomson Financial News)
The UK's biggest building society has found that consumer confidence suffered its biggest ever percentage fall in July in the wake of higher food and energy costs and mounting talk of a recession. The Nationwide said its consumer confidence index fell by a monthly 11 points, or 18 percent, to 51 in July. On an annual basis, it is down 46 percent. These are the largest recorded falls in the index so far.
[ Full Story ]- Read the Consumer Confidence report at Nationwide website
US FED INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 5 | 18:15 | Fed Interest Rate Decision | 2% | 2% | 2% |
The Federal Reserve says that inflation will begin to moderate this year (FXstreet.com)
FXtstreet.com (Barcelona) − Federal Reserve policy Committee decided today by mayority to keep its Finds Rate unchanged at 2.0% for fourth month consecutive, Last cut was on April 30th. This decision is in line of the market expectations, as inform published today by the FOMC's press office.
[ Full Story ]- EUR/USD Tuesday Morning (NY) Update after FOMC By James Cheng
- Read the oficial FOMC Statement
- Mexico's Peso Closes Weaker At 9.9105/Dlr; Firm After Fed (Dow Jones)
- Fed keeps key target rate unchanged at 2.00% UPDATE (Thomson Financial News)
- Fed keeps key target rate unchanged at 2% (Thomson Financial News)
FOMC August Meeting—Panic Over—Workout Ahead by Wachovia
Mid−Day Forex Technical Report − Dollar Boosted by Falling Oil and Gold ahead of FOMC by ActionForex.com
Market Session Recaps - London Session by FOREX.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 6 | 01:30 | AU | Home Loans (Jun) | -3.7% | -2.0% | -7.9% |
| 01:30 | AU | Investment Lending (Jun) | -0.3% | -6.8% | ||
| 05:00 | JP | Coincident Index (Jun)  | 101.7% | 101.7% | 103.3% | |
| 05:00 | JP | Leading Economic Index (Jun) | 91.2 | 91.1 | 92.9 | |
| 09:30 | UK | BRC Shop Price Index (YoY) (Jul) | 2.5% | |||
| 10:00 | DE | Factory Orders n.s.a. (YoY) (Jun) | -4.7% | -2.0% | ||
| 10:00 | DE | Factory Orders s.a. (MoM) (Jun) | 0.4% | -0.9% | ||
| 11:00 | US | MBA Mortgage Applications (Aug 1) | 1.3% | |||
| 14:00 | CA | Ivey Purchasing Managers Index (Jul) | 62.5 | 69.6 | ||
| 14:35 | US | EIA Crude Oil Stocks change (Aug 2) | -0.1M | |||