Tuesday, Apr 07, 07:46 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Forex Trading Today: AUD/USD and USD/JPY On Deck with Central Bank Rates by Tim Salem
Our Central Bank Activity we spoke of begins "tentatively" as of this writing for the Bank of Japan, where Consensus has the BoJ expecting to Hold Rates @ 0.10% once again… as it has for the First Quarter of 2009.
The Disciplined Trader: Dollar Index looks Bullish… by Pierre Charlebois
ForexHedge: Ranking Forex Spot by Ron Schelling
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Live Sessions Schedule
Navigating News Trading
Expert: Dustin Pass
Start: Tue, Apr 7, 12:00 GMT
Type of Session: Showroom
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Apr 7, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Apr 7, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Apr 7, 12:00 GMT | Navigating News Trading | Dustin Pass | SHW | |
| Tue, Apr 7, 13:00 GMT | Technical Trading Strategist in the short and longer term | Valeria Bednarik | WBN |  |
| Tue, Apr 7, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
Current Session: Europe
Sterling faltered on the topside and touched 1,4959
Charmer Charts.com − Sterling faltered on the topside and touched 1,4959. Sellers came out in force and has knocked this sharply lower with 1.4642 the lows this morning. If this morning the market fails to break back above 1.4735 sellers would have won the day and will be able to push this back lower through 1.4610 to 1.4533.
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EUR/USD
Daily Technical Analysis − EUR: Attempt longs at 1.3355, adding to 1.3400 by Mizuho Corporate Bank
Time to start picking up again? A sustained break above last month's high at 1.3739 should see another round of short−covering send it back up towards 1.4400.
JPY CROSSES
Forex: USD/JPY: Pullback from 101.45, contained at 100.35 by FXstreet.com
Yen withdrawn from 101.45 5−month high reached yesterday seems to have been supported at 100.35 level, and the pair consolidates between here and 100.80 on the upside
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) | -1.4% | -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
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 7 | 04:30 | RBA Interest Rate Decision | 3.00% | 3.25% | 3.25% |
Forex Trading Strategies - RBA steers a "middle course" with a 25bp rate cut by Saxo Bank
The big mover of the day was the AUD on the back of the RBA rate decision. Market opinion seemed to switch course regularly since the last meeting. Initial calls for rate cuts were knocked back after some better−than−expected data but dovish themes soon re−emerged, particularly over the past 2 days, when revered analysts and the market predicted a 50bp cut.
[ Full Story ]- Read the Rate data at Reserve Bank of Australia
Live Daily Broadcast - Today's Live Show: AUD and GBP Ahead of RBA, BoE and Economic Data by AllThingsForex
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 7 | 04:14 | BoJ Interest Rate Decision | 0.1% | 0.1% | 0.1% |
BoJ keeps rate unchanged at 0.10 % (FXstreet.com)
The BOJ board voted unanimously to keep its unsecured overnight call loan rate unchanged at 0.10%. The board last lowered the policy interest rate in December by 20 basis points. The BOJ policy board voted to keep interest rates unchanged at ultra−low levels despite the deepening recession, while it takes time to gauge the effectiveness of previous measures.
[ Full Story ]- Read the Rate data at Bank of Japan
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 6 | 14:00 | CA | Ivey Purchasing Managers Index | 43.2 | 46.7 | 45.2 |
| 22:00 | NZ | NZIER Business Confidence | -65 | -64 | ||
| Apr 7 | 04:14 | JP | BoJ Interest Rate Decision (Apr 7) | 0.1% | 0.1% | 0.1% |
| 04:30 | AU | RBA Interest Rate Decision (Apr 7) | 3.00% | 3.25% | 3.25% | |
| 08:30 | UK | Industrial Production (MoM) (Feb) | -1.1% | -2.6% | ||
| 08:30 | UK | Industrial Production (YoY) (Feb) | -12.5% | -11.4% | ||
| 08:30 | UK | Manufacturing Production (MoM) (Feb) | -1.4% | -2.9% | ||
| 08:30 | UK | Manufacturing Production (YoY) (Feb) | -14.2% | -12.8% | ||
| 09:00 | EMU | Gross Domestic Product s.a. (QoQ) (4Q) | -1.5% | -0.2% | ||
| 09:00 | EMU | Gross Domestic Product s.a. (YoY) (4Q) | -1.3% | 0.6% | ||