Friday, Feb 06, 08:36 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Institutional Trading Strategies: Pivot Points by Andrei Pehar
- All the events of the day in our Economic Calendar
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Forex Blogs
1st on Forex: Patterns Holding Ahead of Non Farm Payroll? by Jerry Furst
Charts are showing some nice trends and patterns but seem to be stalled since the afternoon of the New York session. The Euro−Pound is showing a nice Head and Shoulder pattern with a strong supporting trend−neck line.
Forex Trading Today: EUR/GBP Corrects with The Queen’s Strength... and NFP? by Tim Salem
Sponsored by 
Live Sessions Schedule
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 33rd Edition
Expert: Wayne McDonell
Start: Fri, Feb 6, 12:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Feb 6, 12:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 33rd Edition | Wayne McDonell | WBN | |
| Mon, Feb 9, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN |  |
| Mon, Feb 9, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Mon, Feb 9, 12:00 GMT | Forex Basics Series: Chapter 2 − Support and resistance | Valeria Bednarik | WBN |  |
Current Session: Europe
The uptrend should continue on 1,4800 resistance
Mataf.net − GBP USD is in an uptrend supported by 1H exponential moving averages. GBP USD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP USD. The uptrend should continue on 1,4800 resistance (175 pips). The price should find a support above 1,4500 (125 pips).
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Market Session Recaps − USD/JPY spent the session between 90.80 and 91.30 by CMS Forex
USD/JPY spent the session strolling along in a less than 60 point range between 90.80 and 91.30, as all eyes were on the US data due Friday. Things to look for later in the European session include a slew of data from the UK including PPI and Industrial Production
Trading News Report − EUR/USD: Trading the Change in U.S. Non−Farm Payrolls by FXCM
Therefore, a dismal payrolls release would set the stage for a long EURUSD trade, and we will follow the same strategy for the long position as the short trade mentioned above, just in reverse.
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
Germany INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Feb 6 | 11:00 | Industrial Production s.a. (MoM) | -2.5% | -3.1% |
| Feb 6 | 11:00 | Industrial Production s.a. w.d.a. (YoY) | -9.6% | -6.4% |
EMU economic indicators - Output in the German producing sector (December): down by BHF−Bank
German industrial new orders and output in the German producing sector will probably have continued decreasing in December, because all the correlated climate indicators deteriorated.
[ Full Story ]Top Market Movers Review
Switzerland UNEMPLOYMENT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 6 | 07:15 | Unemployment Rate s.a. | 2.9% | 2.9% | 2.8% |
| Feb 6 | 07:15 | Unemployment Rate | 3.3% | 3.2% | 3.0% |
Swiss Unemployment rate increases in January (FXstreet.com)
Swiss unemployment rate has posted a substantial increase in January according to the Swiss Confederation Statistics Office, which shows that 2008 has been a rather negative year for Swiss employment.
[ Full Story ]- Read the Employment data at SECO [text in German]
- INSTANT VIEW 1−Swiss adj. jobless rate up to 2.9 pct in Jan (Thomson Financial News)
- Switzerland Unemployment Rate increase to 3.3% in Jan from 3% in Dec (FXstreet.com)
- Switzerland Unemployment Rate s.a. improves to 2.9% in Jan vs 2.8% in Dec (FXstreet.com)
Australia RBA MONETARY POLICY STATEMENT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 6 | 00:30 | RBA Monetary Policy Statement | - | - | - |
Australia central bank cuts growth, inflation forecasts (Thomson Financial News)
In a major downgrade, Australia's central bank on Friday predicted the economy would barely grow at all in 2009, while core inflation would return to its target a year earlier than expected, seemingly leaving the door open for more cuts in interest rates. In its quarterly Statement on Monetary Policy, the Reserve Bank of Australia (RBA) said a deepening global recession had darkened the outlook for exports and business investment, likely leading to a contraction in the domestic economy this year even after aggressive rate cuts and government spending packages.
[ Full Story ]- Read the Statement data at Reserve Bank of Australia
- UPDATE 2−Australia c.bank cuts growth, inflation forecasts (Thomson Financial News)
- UPDATE 1−Australia c.bank cuts growth, inflation forecasts (Thomson Financial News)
- Aussie eases after cbank lowers growth forecasts (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 6 | 05:00 | JP | Leading Economic Index (Dec)  | 79.8 | 79.0 | 81.3 |
| 05:30 | AU | Foreign Reserves (Jan) | 47.800 | 46.702 | ||
| 07:15 | CH | Unemployment Rate (Jan) | 3.3% | 3.2% | 3.0% | |
| 07:15 | CH | Unemployment Rate s.a. (Jan) | 2.9% | 2.9% | 2.8% | |
| 09:30 | UK | Industrial Production (MoM) (Dec) | -1.2% | -2.3% | ||
| 09:30 | UK | Industrial Production (YoY) (Dec) | -7.8% | -6.9% | ||
| 09:30 | UK | Manufacturing Production (MoM) (Dec) | -1.2% | -2.9% | ||
| 09:30 | UK | Manufacturing Production (YoY) (Dec) | -8.5% | -7.4% | ||
| 11:00 | DE | Industrial Production s.a. (MoM) (Dec) | -2.5% | -3.1% | ||
| 11:00 | DE | Industrial Production s.a. w.d.a. (YoY) (Dec) | -9.6% | -6.4% | ||