Thursday, Feb 05, 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
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
Forex Trading Today: The BoE and The Queen… Will She Keep Up Her Pace? by Tim Salem
With an expected Clip of .50 Basis−Points by the Bank of England from the current 1.25% Rate down to .75% …the British Pound has a few criteria to contend with!
The Trader's Edge - AUD/USD Revisited by Ross Yamashita
Sponsored by 
Live Sessions Schedule
Showroom: Presentation of TradeCADJPY.com
Expert: Mihai Marinescu
Start: Thu, Feb 5, 15:00 GMT
Type of Session: Showroom
How to Get Started Trading Forex
Expert: Mark Whistler
Start: Thu, Feb 5, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Feb 5, 10:00 GMT | Tracking the forex market together / Part I  | Dr.S.Sivaraman | WBN |  |
| Thu, Feb 5, 12:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Thu, Feb 5, 14:00 GMT | Tracking the forex market together / Part II | Dr.S.Sivaraman | WBN | |
| Thu, Feb 5, 15:00 GMT | Showroom: Presentation of TradeCADJPY.com | Mihai Marinescu | SHW | |
Current Session: Europe
EUR/USD: (1.2838) Still above channel
KBC Bank − Pair still above daily channel off 1.4719 ( + see graph).
Support area at 1.2800 (today's low?), with next levels at 1.2780 (break−up hourly), ahead of 1.2715/ .2706 (daily envelope bottom/ current week low + daily Bollinger bottom), where pause favored.
Resistance at 1.2933/ .2943 (reaction high hourly/ daily envelope top), with next levels at 1.3069 (current reaction high off 1.2706 + daily Bollinger midline), which managed to hold on recent recovery attempts.
.
Trading News Report − GBP/USD: Trading the Bank of England Interest Rate Decision by FXCM
The British pound may face increased selling pressures over the next 24 hours of trading as market participants forecast the Bank of England to lower the benchmark interest rate by another 50bp to 1.00%, which would be the lowest level in the central bank's history.
Daily Recommended Trades − The Aussie Dollar managed to hold above support at .6360 by E−Forex
The Aussie Dollar managed to hold above support at .6360 on yesterday and recovered, now focusing towards recent top at .6535 which is the first important barrier. Above .6535, other resistance levels are seen at .6570, .6660 and .6730.
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 BOE INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Feb 5 | 12:00 | BoE Interest Rate Decision | 1.0% | 1.5% |
Trading News Report - GBP/USD: Trading the Bank of England Interest Rate Decision by FXCM
The British pound may face increased selling pressures over the next 24 hours of trading as market participants forecast the Bank of England to lower the benchmark interest rate by another 50bp to 1.00%, which would be the lowest level in the central bank's history.
[ Full Story ]- TOPWRAP 2−UK set to cut rates; BOJ warns may need to do more (Thomson Financial News)
- WRAPUP 1−UK rate cut eyed as recovery looks distant prospect (Thomson Financial News)
Daily Forex Outlook - Markets looking to ECB and BoE by Easy Forex
European and US summary - USD Edges Higher, Awaits BoE, ECB by Forexnews.com
Top Market Movers Review
New Zealand UNEMPLOYMENT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 4 | 21:45 | Unemployment Rate | 4.6% | 4.6% | 4.2% |
INSTANT VIEW−NZ unemployment hits 5−year high in Q4 (Thomson Financial News)
New Zealand's jobless rate rose to its highest level in five years in the fourth quarter as the recession hit the formerly tight labour market, leaving the way clear for further interest rate cuts. The unemployment rate rose to 4.6 percent, its highest since December 2003, from 4.2 percent in the previous quarter as growth in the labour force outstripped the growth in jobs.
[ Full Story ]- Read the Unemployment data at Statistics New Zealand
- UPDATE 2−NZ jobless rate hits 5−year high, more rate cuts loom (Thomson Financial News)
- UPDATE 1−NZ jobless rate at 5−year high, more rate cuts loom (Thomson Financial News)
- INSTANT VIEW 3−NZ unemployment hits 5−year high in Q4 (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 4 | 13:15 | US | ADP Employment Change (Jan) | -522K | -525K | -659K |
| 15:00 | US | ISM Non−Manufacturing (Jan) | 42.9 | 39.1 | 40.1 |
|
| 15:30 | US | EIA Crude Oil Stocks change (Jan 30) | 7.2M | 6.2M | ||
| 21:45 | NZ | Unemployment Rate (4Q) | 4.6% | 4.6% | 4.2% | |
| Feb 5 | 09:00 | UK | Halifax House Prices (MoM) (Jan) | -1.7% | -2.2% | |
| 09:00 | UK | Halifax House Prices (YoY) (Dec) | -16.2% | |||
| 11:00 | DE | Factory Orders n.s.a. (YoY) (Dec) | -24.5% | -27.2% | ||
| 11:00 | DE | Factory Orders s.a. (MoM) (Dec) | -2.5% | -6.0% | ||
| 12:00 | UK | BoE Interest Rate Decision | 1.0% | 1.5% | ||
| 12:45 | EMU | ECB Interest Rate Decision | 2% | 2% | ||