Thursday, Aug 07, 07:43 GMT
EUROPEAN Trading Newsletter
Forex Blogs
Posts ahead of the BoE ECB decissions
FX Market Readings: Spike moves expected for BOE & ECB rate decision times by Dr. S. Sivaraman
EURO and GBP are expected to make volatile moves with spikes.Before Data a dip (false move)and then after data a big spike expected. After prolonged lower level consolidation they intend to spike up EURO...
Postcards from the Right Edge: USD/SGD 4 hour trade by Rob Booker
FX Path: USD/CAD Update by James Chen
Live Sessions Schedule
How to Get Started Trading Forex
Expert: Mark Whistler
Start: Thu, Aug 7, 15:00 GMT
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Aug 7, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Aug 6, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Aug 7, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Thu, Aug 7, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Thu, Aug 7, 15:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN | |
Current Session: Europe
USD/JPY
Daily Market Commentary − The dollar continued to rally on Wednesday by Global Forex Trading
Dollar/yen exploded to a seven−month high on Wednesday and the uptrend was resuscitated. The upside is only slightly favored today and an initial pull back is likely. Support moved up to 109.15 from a 50−point pivot, which targets 109.65 and 108.65. Distant support follows at 107.95 from a 50−point pivot, which targets 107.45 and 108.45. Immediate resistance moved up to 109.65. Strong resistance is at 110.60. The next resistance is at 111.00. Distant resistance is at 112.05.
- USD/JPY Update by James Chen, Chief Technical Analyst, at FX Solutions
- 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 Index takes a peek above 200−day moving average for the first time since early 2007 ahead of ECB, BOE by Saxo Bank
Currency Performance
Currency Performance Report − Asia Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Moves up towards first resistant level 1.5483
08/07/2008 06:39 GMT - GBP/USD
- Moves up above pivot level 1.9511
08/07/2008 06:40 GMT - USD/CHF
- Moves down below pivot level 1.0570
08/07/2008 06:40 GMT - USD/JPY
- Trades above pivot level 109.29
08/07/2008 06:41 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
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Aug 7 | 11:00 | BoE Interest Rate Decision | 5% | 5% |
OUTLOOK BoE to leave rates on hold as economic woes outweigh inflation concerns (Thomson Financial News)
Bank of England rate setters are expected to keep interest rates unchanged on Thursday as they continue to grapple with the twin evils of soaring inflation and a flagging economy. All 24 of the economists polled by Thomson Financial News believe the nine−member Monetary Policy Committee (MPC) will keep the benchmark Bank Rate on hold at 5.00 percent.
[ Full Story ]- OUTLOOK BoE to leave rates on hold as economic woes outweigh inflation concerns (Thomson Financial News)
- 2nd UPDATE: UK Darling: BOE Policy Remit Perfectly Adequate (Dow Jones)
Forex Trading Strategies - USD Index takes a peek above 200−day moving average for the first time since early 2007 ahead of ECB, BOE by Saxo Bank
Daily Forex Commentary - Announcement Day in the ECB and BoE by Jyske Bank
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Aug 7 | 11:45 | ECB Interest Rate Decision | 4.25% | 4.25% |
ECB: Preview of meeting on August 7 by Danske Bank A/S
We expect the ECB to hold rates unchanged and deliver a quite neutral statement with a repeat of the key policy phrase signalling that rates are appropriate currently. There is a chance of a dovish twist, though, as the ECB may − unwillingly − have to acknowledge rising downside risks to growth on the back of the recent very weak numbers out of Euroland − and in particular Germany. We believe the ECB will be careful not to sound too dovish, though, as it does not want to fuel expectations of rate cuts. However, it may be difficult to control this and if anything we see a chance of slightly lower yields on the back of the statement. Our ECB forecast continues to be for the ECB to be on hold for the foreseeable future, balancing weak growth and high inflation. This is close to current market pricing.
[ Full Story ]- Forex − Euro extends falls on weak German data ahead of ECB meeting Thursday (Thomson Financial News)
Forex Trading Strategies - USD Index takes a peek above 200−day moving average for the first time since early 2007 ahead of ECB, BOE by Saxo Bank
Daily Forex Commentary - Announcement Day in the ECB and BoE by Jyske Bank
Top Market Movers Review
Germany TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 7 | 06:00 | Trade Balance | 19.7B | 15.5B | 14.4B |
DATA SNAP: German June Trade Surplus Widens To EUR19.7B (Dow Jones)
Germany's exports surged in June, possibly easing fears that the country's recent export−driven upswing might have turned into a severe slowdown, data from the Federal Statistics Office showed Thursday.
[ Full Story ]- German Trade Balance by Destatis
- 2ND UPDATE: German June Trade Surplus Widens To EUR19.7B (Dow Jones)
- German trade surplus widens in June (FXstreet.com)
- German Trade Surplus increases to 19.7B in Jun (FXstreet.com)
Australia UNEMPLOYMENT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 7 | 01:30 | Unemployment Rate | 4.3% | 4.3% | 4.2% |
DATA SNAP: Australian Jul Unemployment Rate 4.3% (Dow Jones)
Australia's unemployment rate stayed at an as−expected seasonally adjusted 4.3% in July from June. The number of employed rose 10,900, the Australian Bureau of Statistics said Thursday. Economists on average had expected an unemployment rate of 4.3% in July, with the number of employed up 5,000.
[ Full Story ]- Read the Labour Force report at Australian Bureau of Statistics
- Aussie dollar jumps on employment surprise (Thomson Financial News)
- Australia employment rises by 10,900 in July (Thomson Financial News)
- Australian leading jobs indicator falls in Aug (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 6 | 23:50 | JP | Core Machinery Orders (MoM) (Jun) | -2.6% | 9.5% | 10.4% |
| Aug 7 | 01:30 | AU | Employment Change (Jul) | 10.9K | 29.8K | |
| 01:30 | AU | Unemployment Rate (Jul) | 4.3% | 4.3% | 4.2% | |
| 06:00 | DE | Trade Balance (Jun) | 19.7B | 15.5B | 14.4B | |
| 10:00 | DE | Industrial Production s.a. (MoM) (Jun) | 0.8% | -2.4% | ||
| 10:00 | DE | Industrial Production s.a. w.d.a. (YoY) (Jun) | 1.5% | 0.8% | ||
| 11:00 | UK | BoE Interest Rate Decision | 5% | 5% | ||
| 11:45 | EMU | ECB Interest Rate Decision | 4.25% | 4.25% | ||
| 12:30 | CA | Building Permits (MoM) (Jun) | -1.0% | 1.1% | ||
| 12:30 | US | Continuing Jobless Claims (Jul 26) | 3285K | 3282K | ||