Monday, Feb 02, 08:48 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Trading Strategy Esentials by Phil Newton
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Canadian Dollar Consolidates for a Imminent Breakout? by Tim Salem
Well… our Arizona Cardinals did not prevail…but I will say this… What a Game! "HA, CVJ!…What happened to the Boys from the Wild West of Phoenix???", the CVJ Guys say with heavy sarcasm and conceit. "I respectfully decline to answer on the grounds of self−incrimination", I say…. hee hee…
1st on Forex: The Week Ahead: Employment Data & Interest Rates by Jerry Furst
Sponsored by 
Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Feb 2, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Feb 2, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Feb 2, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Feb 2, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Feb 2, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN |  |
| Mon, Feb 2, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: Europe
EUR/USD: (1.2734) Currently back in channel
KBC Bank − Drop from 1.3330 puts pair currently back in channel off 1.4719 (see graph) ad toying with equivalent one on daily charts (top at 1.2741 today).
Support area at 1.2712/ .2709 (today's low?/ weekly projection band bottom) and 1.2657 (daily Bollinger bottom + daily projection band bottom), where pause favored.
If wrong, daily envelope bottom at 1.2636, where short term pause favored.
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FX Briefing − Dollar boosted by weak economic data worldwide by BHF−Bank
The pound, which had plummeted the previous week, staged a significant recovery. GBP−USD rose by around 6 cents to 1.42, whereas EUR−GBP fell from 0.94 to about 0.90.
Trading News Report − AUD/USD: Trading the RBA Interest Rate Decision by FXCM
The Australian dollar is likely to face increased selling pressures over the following week as the Reserve Bank of Australia is widely expected to lower the benchmark interest rate by 100bp to 3.25%, which would be the lowest level since 1963.
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Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
UK PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Feb 2 | 09:30 | Purchasing Manager Index Manufacturing | 34.5 | 34.9 |
Friday Notes - PMIs still pointing south by UniCredit Group
Following a sizeable December drop, we expect a smaller decline in January manufacturing PMI, with the headline index likely to drop to 34.5 from the previous 34.9. The credit squeeze and weakness in both domestic and foreign orders keep weighing, offsetting the support coming from the ongoing sterling depreciation.
[ Full Story ]Top Market Movers Review
Switzerland SVME − PURCHASING MANAGERS' INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 2 | 08:30 | SVME − Purchasing Managers' Index | 35.0 | 35.5 | 36.5 |
Swiss SVME PMI falls to all−time low in January (FXstreet.com)
Swiss economic activity does not escape from the global economic downturns, according to the latest SVME Purchasing Managers' Index which has reached its record low in January.
[ Full Story ]- Read the PMI data at Credit Suisse
- Switzerland SVME − Purchasing Managers' Index falls to 35 in Jan vs 36.9 in Dec (FXstreet.com)
Australia HOUSE PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 2 | 00:30 | House Price Index (YoY) | -3.3% | - | 1.6% |
| Feb 2 | 00:30 | House Price Index (QoQ) | -0.8% | -1.0% | -2.4% |
WRAPUP 1−Australia house prices fall, more rate cuts coming (Thomson Financial News)
Australian house prices fell last year as tightening credit conditions and a sharp downturn in the economy put paid to the double−digit growth enjoyed in 2007, dealing a further blow to household wealth and pointing towards more rate cuts.
[ Full Story ]- Read the House data at Australian Bureau of Statistics
- Australia Q4 house price index falls 0.8 pct q/q (Thomson Financial News)
- Australia 4Q House Prices Fall 0.8% Vs 3Q (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 2 | 00:30 | AU | House Price Index (QoQ) (4Q) | -0.8% | -1.0% | -2.4% |
| 00:30 | AU | House Price Index (YoY) (Dec) | -3.3% | 1.6% |
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| 05:30 | AU | RBA Commodity Index SDR (YoY) (Jan) | 29.1% | 31.5% |
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| 08:30 | CH | SVME − Purchasing Managers' Index (Jan) | 35.0 | 35.5 | 36.5 |
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| 08:55 | DE | Purchasing Manager Index Manufacturing (Jan) | 32.7 | |||
| 09:00 | EMU | Purchasing Manager Index Manufacturing (Jan) | 34.5 | 33.9 | ||
| 09:30 | UK | Purchasing Manager Index Manufacturing (Jan) | 34.5 | 34.9 | ||
| 13:30 | US | Core Personal Consumption Expenditure − Prices Index (MoM) (Dec) | 0% | 0% | ||
| 13:30 | US | Core Personal Consumption Expenditure − Prices Index (YoY) (Dec) | 1.9% | |||
| 13:30 | US | Personal Consumption Expenditure Deflator (Dec) | 1.4% | |||