Wednesday, Feb 04, 08:23 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: AUD/USD Strengthens as Data Improves Bullish Momentum by Tim Salem
Let's check in with the Aussie development from yesterday, and here is a view of the Hourly a few hours back illustrating our "delayed" reaction and re−positioning of Price after the RBA Decision. My reference in the Title of today's Post is not exclusive to just Australian Data.
Chartology: Channel Up on the 15 minute Dollar-Yen by Raghee Horner
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Feb 4, 10:00 GMT
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Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Feb 4, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Feb 3, 18:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
| Wed, Feb 4, 10:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Feb 4, 11:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Feb 4, 13:00 GMT | The FX and Equity Markets | Adam Rosen | WBN |  |
Current Session: Europe
Some other major currencies might help the pound higher
Mizuho Corporate Bank − Small gains mean Cable is trying to hold above the bottom of the downward−sloping ‘wedge' formation and above the 9−day moving average. It is currently struggling with the 26−day average at 1.4437 and only a sustained break above 1.4550 would add bullish pressure and a break above 1.5500 would send many scurrying for cover. With a little luck some other major currencies, notably the Swiss franc, might help the pound higher.
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Monthly Technical Outlook − January's retreat has been a lot deeper than we expected by Mizuho Corporate Bank
Dips, so long as we hold above last year's low at 1.2329, are still seen as buying opportunities for an eventual move higher later this month and through much of this year.
Trading News Report − AUD/USD: Trading the Australian Retail Sales Report by FXCM
Consumer spending in Australia is expected to improve as economists forecast retail sales to increase 0.3% in December on the back of falling prices.
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
EMU PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Cons. | Previous | |
| Feb 4 | 09:00 | Purchasing Manager Index Services | 42.5 | 42.1 |
EMU economic indicators - PMIs: Possibly unchanged by BHF−Bank
The Purchasing Managers' Index for the German and EMU manufacturing sector in January are unlikely to be revised significantly.
[ Full Story ]- Glance−STOCKS NEWS EUROPE−Corporate earnings, PMI, ISM in focus Feb 4 (Thomson Financial News)
Top Market Movers Review
Australia RETAIL SALES TREND
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 4 | 00:30 | Retail Sales Trend (MoM) | 3.8% | 0.3% | 0.4% |
DATA SNAP:Australian Dec Retail Sales Rise 3.8% Vs Nov (Dow Jones)
Australian retail sales rose a higher−than−expected 3.8% to a seasonally adjusted A$19.16 billion in December from A$18.46 billion in November and rose from A$18.15 billion a year earlier, the Australian Bureau of Statistics said Wednesday. Economists surveyed ahead of the announcement on average had expected a 1.8% rise in sales for December. Sales had risen 0.4% in November on month.
[ Full Story ]- Read the Retail Sales data at Australian Bureau of Statistics
- INSTANT VIEW 4−Australia retail sales surge in Dec (Thomson Financial News)
- INSTANT VIEW 3−Australia retail sales surge in Dec (Thomson Financial News)
- INSTANT VIEW 2−Australia retail sales surge in Dec (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 4 | 00:01 | UK | Nationwide Consumer Confidence (Jan) | 40 | 45 | 48 |
| 00:30 | AU | Building Permits (MoM) (Dec) | -2.9% | 2.0% | -10.2% |
|
| 00:30 | AU | Building Permits (YoY) (Dec) | -32.9% | -29.7% | -32.9% |
|
| 00:30 | AU | Retail Sales Trend (MoM) (Dec) | 3.8% | 0.3% | 0.4% |
|
| 08:55 | DE | Purchasing Manager Index Services (Jan) | 45.4 | 46.6 | ||
| 09:00 | EMU | Purchasing Manager Index Services (Jan) | 42.5 | 42.1 | ||
| 09:30 | UK | Purchasing Manager Index Services (Jan) | 40.3 | 40.2 | ||
| 10:00 | EMU | Retail Sales (MoM) (Dec) | -0.2% | 0.6% | ||
| 10:00 | EMU | Retail Sales (YoY) (Dec) | -1.4% | -1.5% | ||
| 10:30 | UK | BRC Shop Price Index (YoY) (Jan) | 0.5% | |||