Thursday, Apr 02, 07:43 GMT
EUROPEAN Trading Newsletter
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- Webinar Videos: Fibonacci - From Novice to Advanced Techniques by Adam Rosen
- All the events of the day in our Economic Calendar
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Forex Blogs
The Day Job Trader: GBP/USD Breaks Out, EUR/USD In The Box by Ryan O'Keefe
GBP/USD broke out after some back and forth action this morning giving us a nice 100+ point rally to catch. My generic technical price target for the channel break is up around $1.4635 but in my opinion today's run is good enough a day ahead of Non Farm Payroll Friday.
Forex Trading Today: The Queen and Trichet… The Battle of the Channel Continues! by Tim Salem
FX Market Readings: ECB rate decision-expected moves by Dr. S. Sivaraman
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Live Sessions Schedule
How to Get Started Trading Forex
Expert: Mark Whistler
Start: Thu, Apr 2, 15:00 GMT
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Apr 2, 17:00 GMT
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Type of Session: Webinar
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| Wed, Apr 1, 15:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN |  |
| Thu, Apr 2, 09:00 GMT | Tracking the forex market together / Part I | Dr.S.Sivaraman | WBN | |
| Thu, Apr 2, 11:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Thu, Apr 2, 14:00 GMT | Tracking the forex market together / Part II | Dr.S.Sivaraman | WBN | |
Current Session: Europe
GBP/USD: The Pound rockets through 1.4500 on Better than expected UK Home Prices
FXstreet.com − The Cable has been strengthening from 1.4325 level hit on yesterday's early U.S. session and its rally has accelerated ahead of the European session opening, past 1.4500 and rocketing towards 1.4585 level, fuelled by the first increase in UK home prices since Oct 2007.
Sterling has squeezed above the 200 SMA in the Hourly chart, and the Pound looks strongly bullish, trading around 1.4570 at the moment of writing.
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EUR/USD
Trading News Report − EUR/USD: Trading the European Central Bank Interest Rate Decision by FXCM
We will look for a green, five−minute candle following the release to consider a buy entry on two lots of EUR/USD however, we would recommend wait for further confirmation before entering the position as President Trichet holds the Q&A.
AUD/USD
Recommended Trades − AUD/USD managed to finally break past resistance at .6950 on yesterday by E−Forex
The Aussie dollar managed to finally break past resistance at .6950 on yesterday, after testing it for 8 hours. It currently holds steady near the .7050 region and a test of the first resistance at .7095/00 − last month's top − is likely.
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 ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Apr 2 | 11:45 | ECB Interest Rate Decision | 1.0% | 1.5% |
The ECB is expected to lower rates Thursday by Easy Forex
The ECB is expected to cut interest rates 50 bps to a record low 1% in reaction to falling EU inflation and deteriorating EU economy. The ECB has cut interest rates 275 bps since last October. The ECB is also expected to cut its refinance rate 25 bps and lengthen the maturity of ECB refinancing operations to up to twelve months.
[ Full Story ]- UPDATE: Economists Expect European Central Bank To Cut Rates To 1% (Dow Jones)
- The ECB could act in order to weaken the Euro (FXstreet.com)
Market and News Summary - Euro up slightly, awaiting ECB views on quantitative easing by Charmer Charts.com
Live Daily Broadcast - Today's Live Show: A Closer Look At EUR/GBP Pair Ahead of ECB and G20 by AllThingsForex
Top Market Movers Review
UK NATIONWIDE HOUSING PRICES S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 2 | 06:00 | Nationwide Housing Prices n.s.a (YoY) | -15.7% | -18.1% | -17.6% |
| Apr 2 | 06:00 | Nationwide Housing Prices s.a (MoM) | 0.9% | -1.5% | -1.8% |
DATA SNAP: UK House Prices +0.9% MM, 1st Rise Since Oct 2007 (Dow Jones)
U.K. house prices posted a surprise increase in March rising 0.9% from February − the first monthly gain since October 2007, the Nationwide Building Society said Thursday.
[ Full Story ]- GBP/USD: The Pound rockets through 1.4500 on Better than expected UK Home Prices (FXstreet.com)
- UK Nationwide Housing Prices rises 0.9% MoM, −15.7% YoY (FXstreet.com)
Australia TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 2 | 00:30 | Trade Balance | 2.109B | 0.700B | 0.926M |
DATA SNAP: Australia Feb Trade Surplus A$2.1 Bln (Dow Jones)
Australia's seasonally adjusted balance on trade in goods and services widened to a surplus of A$2.1 billion in February from a surplus of A$926 million in January, the Australian Bureau of Statistics said Thursday.
[ Full Story ]- Read the Trade Balance data at Australian Bureau of Statistics
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 2 | 00:00 | G20 Meeting | ||||
| 02:00 | NZ | ANZ Commodity Price (Mar) | 1.0% | -4.6% | ||
| 06:00 | UK | Nationwide Housing Prices n.s.a (YoY) (Feb) | -15.7% | -18.1% | -17.6% | |
| 06:00 | UK | Nationwide Housing Prices s.a (MoM) | 0.9% | -1.5% | -1.8% | |
| 08:30 | UK | PMI Construction (Mar) | 27.6 | 27.8 | ||
| 09:00 | UK | Halifax House Prices (MoM) (Mar) | -2.0% | -2.3% | ||
| 09:00 | UK | Halifax House Prices (YoY) (Mar) | -17.7% | |||
| 11:45 | EMU | ECB Interest Rate Decision | 1.0% | 1.5% | ||
| 12:30 | US | Continuing Jobless Claims (Mar 21) | 5580K | 5560K | ||
| 12:30 | EMU | ECB Trichet's Speech | ||||