Tuesday, Sep 02, 07:43 GMT
EUROPEAN Trading Newsletter
Forex Blogs
Recommended Readings
Chartology Guest Post from CVJ by Raghee Horner
While we have increasing volume and the "base foundation" returning to the Currency markets in the next week or two... we have varying degrees of flashpoints to reflect upon. The strengthening and re−emergence of the Dollar...
FX Market Readings: taking advantage of holidays by Dr. S. Sivaraman
Trade Setups: Darling I love you... by Phil Newton
Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Sep 2, 14:00 GMT
Type of Session: Webinar
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, Sep 2, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Sep 2, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Tue, Sep 2, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Sep 2, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Tue, Sep 2, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades − Daily Technical Outlook − Tuesday 09.02.2008 by E−Forex
The downside is under pressure since the support at 1.4570 failed to hold and the next important barrier at 1.4470/80 may be aimed during the upcoming trading sessions. On the upside, resistance is seen at 1.4570/80 followed by 1.4650 and 1.4720. Both daily and intraday studies are bearish and while the Euro holds below yesterday's high at 1.4720, intraday bias favors extended dollar gains.
- Continuation of moves by Dr. S. Sivaraman, of i−knowindices.com
- Institutional Trading Strategies by John Jagerson, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
Banks' Analysis
Forex Technical Analysis − EUR/USD: (1.4592) 1.4530 = 2nd target Double Top from 1.5285 by KBC Bank
Weekly Report
Weekly Forex Signals − GBP/YEN going bearish by Finotec Group Inc.
Currencies at a Glance
- EUR/USD
- Continues to move down towards second support level 1.4500
09/02/2008 06:51 GMT - GBP/USD
- Moves down below second support level 1.7880
09/02/2008 06:52 GMT - USD/CHF
- Moves up above first resistant level 1.1057
09/02/2008 06:53 GMT - USD/JPY
- Trades around pivot level 108.12
09/02/2008 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 ISM MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Sep 2 | 14:00 | ISM Manufacturing | 49.8 | 50.0 |
Monitor - USA: Preview on August's ISM by Danske Bank A/S
July's ISM index fell back to 50.0 following the surprise increase to 50.2 in June. New orders dropped to 45.0 from June's 49.6 and the inventory index declined to 45.0 from 51.2, suggesting the inventory adjustment is still ongoing.
[ Full Story ]Daily Forex Technical Report − Aussie Soft after RBA Cut, Dollar Remains Firm ahead of ISM by ActionForex.com
Daily Forex Commentary - Yen on the rise and ISM on the agenda by Jyske Bank
Top Market Movers Review
Switzerland CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 2 | 05:45 | Consumer Price Index (MoM) | -0.3% | -0.1% | -0.4% |
| Sep 2 | 05:45 | Consumer Price Index (YoY) | 2.9% | 3.1% | 3.1% |
Swiss growth picks up in Q2, inflation eases in Aug (Thomson Financial News)
The Swiss economy surprisingly regained some momentum in the second quarter as solid consumer spending and robust exports outweighed a drop in company investment, data showed on Tuesday.
[ Full Story ]- Swiss CPI rises 2.9% year on year in Augu (FXstreet.com)
- TABLE−Swiss CPI rises 2.9 pct yr/yr in August (Thomson Financial News)
- Switzerland Consumer Price Index declines 0.3% in Aug; 2.9% up on the year (FXstreet.com)
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 2 | 04:30 | RBA Interest Rate Decision | 7.00% | 7.00% | 7.25% |
INSTANT VIEW−Australia central bank cuts rates to 7.0 pct (Thomson Financial News)
Australia's central bank cut its benchmark cash rate by 25 basis points to 7.0 percent on Tuesday, the first easing in seven years, as it attempts to offset a globally−driven tightening in financial conditions. In a brief statement following its monthly policy meeting, the Reserve Bank of Australia (RBA) said it looked likely the economy would slow enough to bring inflation down over time and that had provided scope to ease.
[ Full Story ]- Read the Interest Rate report at Reserve Bank of Australia
- Aussie dollar punished after rate cut, bonds firm (Thomson Financial News)
- FOREX−Dollar up on oil slide, Aussie falls after RBA (Thomson Financial News)
- Aussie dollar drops to 1−year low on rate cut (Thomson Financial News)
Daily Forex Technical Report − Aussie Soft after RBA Cut by ActionForex.com
Australia BUILDING PERMITS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 2 | 01:30 | Building Permits (YoY) | -3.7% | -6.4% | -7.8% |
| Sep 2 | 01:30 | Building Permits (MoM) | -2.3% | 0.5% | -0.7% |
Australian July Residential Bldg Approvals −2.3% On Month (Dow Jones)
The total number of Australian houses and apartments approved for construction fell a seasonally adjusted 2.3% in July from June, the Australian Bureau of Statistics said Tuesday. Economists had expected on average that total residential building approvals rose 0.3% from the month before. Private−sector house approvals fell a seasonally adjusted 3.4% from a month earlier and fell 5.2% from a year earlier.
[ Full Story ]- Read the Building Approvals report at Australian Bureau of Statistics
- UPDATE 1−Australia home building sluggish, rate cut looms (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 2 | 05:45 | CH | Consumer Price Index (MoM) (Aug) | -0.3% | -0.1% | -0.4% |
| 05:45 | CH | Consumer Price Index (YoY) (Aug) | 2.9% | 3.1% | 3.1% | |
| 05:45 | CH | Gross Domestic Product (YoY) (2Q) | 2.3% | 2.4% | 3.0% | |
| 05:45 | CH | Gross Domestic Product s.a. (QoQ) (2Q) | 0.4% | 0.2% | 0.3% | |
| 08:30 | UK | PMI Construction (Aug) | 36.0 | 36.7 | ||
| 09:00 | EMU | Producer Price Index (MoM) (Jul) | 1.3% | 0.9% | ||
| 09:00 | EMU | Producer Price Index (YoY) (Jul) | 9.1% | 8.0% | ||
| 14:00 | US | Construction Spending (MoM) (Jul) | -0.5% | -0.4% | ||
| 14:00 | US | ISM Manufacturing (Aug) | 49.8 | 50.0 | ||
| 21:00 | US | ABC/Washington Post Consumer Confidence (Aug 31) | -50 | |||