Tuesday, Feb 03, 08:31 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Central Bank Review by Adam Rosen
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: RBA Clips Rates 100bps to 3.25% …Can We Surf Yet? by Tim Salem
Now that the "Day of Mourning" is completed for the Arizona Cardinals loss in the Super Bowl…we can move on to more pertinent events! The Royal Bank of Australia has cut Rates again by 1 full percentage point , so let's see where we are on the Aussie Dollar.
The Trader's Edge - Coffee Break by Ross Yamashita
Sponsored by 
Live Sessions Schedule
Eyes on the Yen – CADJPY & GBPJPY Weekly Review
Expert: Mihai Marinescu
Start: Tue, Feb 3, 10:00 GMT
Type of Session: Webinar
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Feb 3, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Feb 3, 10:00 GMT | Eyes on the Yen – CADJPY & GBPJPY Weekly Review | Mihai Marinescu | WBN |  |
| Tue, Feb 3, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Feb 3, 15:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
| Tue, Feb 3, 16:00 GMT | Trading with Autochartist | Raghee Horner | WBN | |
Current Session: Europe
EUR/USD: (1.2848) Currently toying back with channel top
KBC Bank − Drop from 1.3330 retested the previously broken daily channel top off 1.4719 (top at 1.2665 today) and is now toying back with same channel top on hourly charts (see graph).
Support area at 1.2780 (break−up hourly), with next levels at 1.2709/ .2706 (weekly projection band bottom/ current week low), ahead of 1.2681 (daily envelope bottom) and 1.2665/ .2655 (see above/ daily Bollinger bottom + daily projection band bottom), where pause favored.
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Pairs to Range Trade − CHFJPY Buffered Against Heavy Event Risk While Cutting A Mature Wedge by FXCM
One pair that will avoid much of the initial volatility present in this worrisome list and defer to the underlying fundamentals is the technically active CHFJPY.
Asia Session − The Australian Dollar had an eventful session today by FOREX.com
AUD/USD popped from 0.6330ish to the 0.6370 region. The second prong of the good news Down Under was the RBA rate cut of 100 basis points, to 3.25%, although widely expected in the market, traders looked at the move as proactive.
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
US PENDING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Feb 3 | 15:00 | Pending Home Sales (MoM) | 0% | -4% |
US economic indicators - Pending home sales could have risen slightly by BHF−Bank
Pending home sales had rebounded in August only to plummet by 12% in the subsequent three months. After this marked decline, they could have risen slightly by 1% mom in December, not least due to massive foreclosures.
[ Full Story ]Top Market Movers Review
Germany RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 3 | 07:00 | Retail Sales (YoY) | -0.3% | - | -3.0% |
| Feb 3 | 07:00 | Retail Sales (MoM) | -0.2% | 0.5% | 0.7% |
DATA SNAP: German Dec Retail Sales Weaker Than Expected (Dow Jones)
German retail sales fell unexpectedly in December, indicating that household demand remains very weak in the euro zone's largest economy, preliminary data from the Federal Statistics office showed Tuesday.
[ Full Story ]- Read the Retail Sales data at German Statistics
- German Dec total retail sales −0.7 pct m/m −Buba (Thomson Financial News)
- INSTANT VIEW 3−German Dec retail sales post surprise drop (Thomson Financial News)
- INSTANT VIEW 2−German Dec retail sales post surprise drop (Thomson Financial News)
Trading News Report - EUR/USD: Trading the German Retail Sales Report by FXCM
Friday Notes - Consumer spending remains subdued by UniCredit Group
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 3 | 03:30 | RBA Interest Rate Decision | 3.25% | 3.25% | 4.25% |
WRAPUP 1−Australian rates slashed, government on stimulus binge (Thomson Financial News)
Australia's economy got a double dose of desperately needed stimulus on Tuesday as the central bank cut interest rates to record lows and the government pledged billions in new spending in the hope of dodging a recession.
[ Full Story ]- Read the Official Statement at RBA
- INSTANT VIEW 3−Australia central bank cuts rates to record low (Thomson Financial News)
- INSTANT VIEW 2−Australia central bank cuts rates to record low (Thomson Financial News)
- INSTANT VIEW−Australia central bank cuts rates to record low (Thomson Financial News)
Trading News Report - AUD/USD: Trading the RBA Interest Rate Decision by FXCM
Daily Market Briefing - Australian Dollar Bound to See High Volatility Ahead of RBA Rate Decision by FXCM
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 3 | 03:30 | AU | RBA Interest Rate Decision | 3.25% | 3.25% | 4.25% |
| 07:00 | DE | Retail Sales (MoM) (Dec) | -0.2% | 0.5% | 0.7% | |
| 07:00 | DE | Retail Sales (YoY) (Dec) | -0.3% | -3.0% | ||
| 07:15 | CH | Trade Balance (Dec) | 0.22B | 1.74B | 2.25B |
|
| 09:30 | UK | PMI Construction (Jan) | 28.8 | 29.3 | ||
| 10:00 | EMU | Producer Price Index (MoM) (Jan) | -1.2% | -1.9% | ||
| 10:00 | EMU | Producer Price Index (YoY) (Dec) | 2.1% | 3.3% | ||
| 15:00 | US | Pending Home Sales (MoM) (Dec) | 0% | -4% | ||
| 21:45 | NZ | Visitor Arrivals (Dec) | 0.8% | |||
| 22:00 | US | ABC/Washington Post Consumer Confidence (Feb 1) | -54 | |||