Wednesday, Apr 01, 07:32 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
The Day Job Trader: GBP/USD Bullish After Daily Hammer, Looking for a Breakout by Ryan O'Keefe
Following up on yesterday's GBP/USD post. Following the Monday's hammer we got a decent little 100 pip rally but the question remains whether or not there are any teeth in this hammer or if GBP will slip further. Either way I'm on breakout patrol now.
Forex Trading Today: Yen Slides on Tankan Data Points and Weak Repatriation by Tim Salem
FX Path: EUR/GBP - At Bottom of Triangle Consolidation by James Chen
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| Tue, Mar 31, 17:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
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| Wed, Apr 1, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Apr 1, 12:00 GMT | What can we expect from the next NFP report? | Adam Rosen | WBN |  |
Current Session: Europe
USD/JPY: The Dollar bounces from 98.35; testing 98.85/95
FXstreet.com − The Dollar broke yesterday above 99.00 reaching the highest levels of the last two weeks; rally from 95.95 low on Monday has extended to 99.50 maximum level, to step back to levels above 98.35.
At the moment of writing, the Dollar seems to be gathering momentum to set an assault to 98.85/95 resistance level and once above there, 99.50 intra−day high and 99.70 (mar 5 high) on its way to psychological resistance at 100.00.
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GBP/USD
Currency Majors Technical Analysis − GBP USD is in a consolidation after the last bearish movement by Mataf.net
1,4284. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The price should find a resistance below 1,4365 (81 pips). The downtrend should continue to gather momentum
TRADING NEWS
Trading News Report − EUR/USD: Trading the U.S. ISM Manufacturing Report by FXCM
Manufacturing activity in the U.S. is expected to contract for the fourteenth consecutive month in March as businesses face fading demands from home and abroad however, the data could foreshadow a stabilizing market as economists forecast the ISM index to increase to 36.0 from 35.8 in February.
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 MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Apr 1 | 08:00 | Purchasing Manager Index Manufacturing | 34 | 34 |
EMU economic indicators - EMU and Germany PMI probably unrevised by BHF−Bank
The Purchasing Managers' Indices for the German and EMU manufacturing sector in March are unlikely to be revised significantly. German retail sales are likely to have remained more or less unchanged in February, as retailers' business assessment improved but consumer confidence deteriorated.
[ Full Story ]Top Market Movers Review
Germany RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 1 | 06:00 | Retail Sales (YoY) | -5.3% | - | -1.1% |
| Apr 1 | 06:00 | Retail Sales (MoM) | -0.2% | 0.1% | -0.9% |
DATA SNAP: German February Retail Sales −0.2% MM, −5.3% YY (Dow Jones)
German retail sales declined unexpectedly in February, signaling that household demand in Europe's largest economy remains depressed, preliminary data from the Federal Statistics Office showed Wednesday.
[ Full Story ]- Germany Feb Retail Sales (MoM) fall 0.2% (FXstreet.com)
Japan TANKAN LARGE ALL INDUSTRY CAPEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 31 | 23:50 | Tankan Large All Industry Capex | -6.6% | -12.0% | -0.2% |
BOJ March Tankan: Big Mfrs DI −58, Falls At Fastest Pace Ever (Dow Jones)
Sentiment among big manufacturers in Japan worsened at its fastest pace ever to a record low as the nation endures its worst recession since World War II, the Bank of Japan's March tankan survey showed Wednesday. The headline diffusion index in the central bank's quarterly survey of corporate sentiment showed that conditions among large manufacturers plunged to minus 58 in March from minus 24 in the December survey.
[ Full Story ]- Read the Industry data at Bank of Japan
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 1 | 05:00 | JP | Vehicle Sales (YoY) (Mar) | -32.0% | -32.4% | |
| 05:30 | AU | RBA Commodity Index SDR (YoY) (Mar) | 7.6% | 13.2% |
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| 06:00 | DE | Retail Sales (MoM) (Feb) | -0.2% | 0.1% | -0.9% |
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| 06:00 | DE | Retail Sales (YoY) (Feb) | -5.3% | -1.1% |
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| 07:30 | CH | SVME − Purchasing Managers' Index (Mar) | 33.0 | 32.6 | ||
| 07:55 | DE | Purchasing Manager Index Manufacturing (Mar) | 32.4 | 32.4 | ||
| 08:00 | EMU | Purchasing Manager Index Manufacturing (Mar) | 34 | 34 | ||
| 08:30 | UK | Housing Equity Withdrawal (QoQ) (4Q) | -£6.8B | -£5.7B | ||
| 08:30 | UK | Purchasing Manager Index Manufacturing (Mar) | 34.9 | 34.7 | ||
| 09:00 | UK | Halifax House Prices (MoM) (Mar) | -2.0% | -2.3% | ||