Monday, Apr 06, 07:38 GMT
EUROPEAN Trading Newsletter
To Get Started
- 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
Forex Trading Today: EUR/USD and GBP/JPY Prime Examples of Risk Appetite Return by Tim Salem
We have plenty of Macro−Event Data coming in what many of us like to call "Central Bank Week". "On the Block" this week is the Bank of Japan, the Reserve Bank of Australia, and the Bank of England… as well as FOMC Minutes and Trade Balance, among a host of other Data Points.
ForexHedge: Ranking by Ron Schelling
FX Path: EUR/USD - Weekly Forex Analysis for April 6-10, 2009 by James Chen
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Mon, Apr 6, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Apr 6, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Apr 6, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Mon, Apr 6, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Apr 6, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN |  |
| Mon, Apr 6, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: Europe
FXstreet.com − Maintenance above the Dynamic Uptrend Line sees Bullish Bias Continuation in the Near−Term although as with most Units, Overbought Reading are clear with RSI and Consolidating Doji/Spinning Top Candle Formations within the Hourly View. Violation of 100.62 Static Resistance back to the Downside sees 100.38 and the 100.00 Handle in View for Corrective Behavior.
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GBP/USD
Daily Technical Analysis − Strong steady gains as we break above the downward−sloping ‘wedge' by FXstreet.com
Strong steady gains as we break above the downward−sloping ‘wedge' and the Ichimoku ‘cloud'. A sustained break above 1.5000 should set off another round of serious short−covering.
EUR/USD
Euros have excellent resistance at 1.3589 by Charmer Charts.com
Euros have excellent resistance at 1.3589. This resistance is from the 50% fib retracement levels and as such sellers will be out attacking this resistance with gusto.
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 INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Cons. | Previous | |
| Apr 7 | 08:30 | Industrial Production (MoM) | -1.1% | -2.6% |
| Apr 7 | 08:30 | Manufacturing Production (MoM) | - | -2.9% |
| Apr 7 | 08:30 | Manufacturing Production (YoY) | -14.2% | -12.8% |
| Apr 7 | 08:30 | Industrial Production (YoY) | -12.5% | -11.4% |
Friday Notes - UK, Industrial Production, manufacturing activity deep in recession by UniCredit Group
Surveys of manufacturing activity showed so far in Q1 that the pace of output contraction is likely to be similar to the one seen in Q4. Despite the ups and downs over the last few months, the manufacturing PMI was in line with Q4, while the Confederation of British Industries figure hit a new low.
[ Full Story ]Top Market Movers Review
US ISM NON−MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 3 | 14:00 | ISM Non−Manufacturing | 40.8 | 42.0 | 41.6 |
DATA SNAP: Non−Manufacturing Sector Shrinks Again In March (Dow Jones)
On a day where the government reported unemployment levels had hit their highest level in a quarter century, a seperate report showed the service sector remained under serious pressure last month. The Institute for Supply Management reported Friday that its March non−manufacturing index moved to a reading of 40.8, from 41.6 in February.
[ Full Story ]- Read the Non−Manufacturing Report at ISM
- U.S. Services Sector Unexpectedly Weaker in March (CEP News)
- US ISM Non−Manufacturing declines to 40.8 in Mar from 41.6 (FXstreet.com)
US economic indicators - ISM indices (Mar): indicating ongoing economic contraction by BHF−Bank
US NONFARM PAYROLLS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 3 | 12:30 | Unemployment Rate | 8.5% | 8.4% | 8.1% |
| Apr 3 | 12:30 | Nonfarm Payrolls | -663K | -658K | -651K |
U.S. Non Farm Payrolls decline by 663K in March; Unemployment Rate increases to 8.5% (FXstreet.com)
U.S. economy has continued destroying employment at a very fast pace, as non−farm payrolls have declined by 663,000 in the month of march, according to data released by the U.S Department of Labor.
[ Full Story ]- Read the Employment data at Labor Department
- Friday's News Recap: U.S. Loses 663k Jobs, Bernanke Says Fed Programs Working (CEP News)
- Forex: USD/JPY rises to 100.27, fresh 5−months highest on NFP data (FXstreet.com)
- GBP/USD: The Pound hits fresh high at 1.4845 after NFP data (FXstreet.com)
US Morning Notes - USD higher waiting for US jobs report by Easy Forex
Daily Market Report - Data out of the US today includes the non−farm payrolls by Wachovia
London Bullion Report - Gold sluggish ahead of key data by The Bullion Desk
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 6 | 01:30 | AU | ANZ Job Advertisements (Mar) | -8.5% | -10.4% | |
| 05:00 | JP | Coincident Index (Feb)  | 86.8% | 89.6% | ||
| 05:00 | JP | Leading Economic Index (Feb) | 75.2 | 75.3 | 77.2 | |
| 08:30 | EMU | Sentix Investor Confidence | -40.7 | -42.7 | ||
| 09:00 | EMU | Producer Price Index (MoM) (Feb) | -0.5% | -0.8% | ||
| 09:00 | EMU | Producer Price Index (YoY) (Feb) | -1.5% | -0.5% | ||
| 09:00 | EMU | Retail Sales (MoM) (Feb) | -0.3% | 0.1% | ||
| 09:00 | EMU | Retail Sales (YoY) (Feb) | -2.5% | -2.2% | ||
| 12:30 | CA | Building Permits (MoM) | -3.6% | -3.9% | ||
| 14:00 | CA | Ivey Purchasing Managers Index | 46.7 | 45.2 | ||