Monday, May 04, 07:44 GMT
EUROPEAN Trading Newsletter
To Get Started
- Learning Center: New Contents has been released! Chapter 3 of Unit A - Understand the Mechanics. Read it now!
- Webinar Videos: Trading with the ATR & Bollinger Bands by Adam Rosen
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Do EUR/USD and USD/CHF Look To Non−Correlate in the Immediate−Term? by Tim Salem
We begin the Week with the "continued" Onslaught of various Global Data Points moving forward today… as we also prepare for the Financial Institution Stress Tests Results as well. Of Note will be the PMI out of Germany and Switzerland, as well as the early Australia Housing Data beginning at 1:30 GMT… and then the U.S. Construction Spending and Pending Home Sales.
1st on Forex: Bank Stress Test Delayed – ECB - BOE – NFP - Bernanke by Jerry Furst
FxBootcamp: Currency Correlations by Wayne McDonell
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, May 4, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, May 4, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, May 4, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Mon, May 4, 12:00 GMT | Trading the JPY crosses  | Adam Rosen | WBN |  |
| Mon, May 4, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, May 4, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: Europe
EUR/USD: Slight Bullish Sentiment
FXstreet.com − Slight Bullish Sentiment looks to continue with Price forming an IntraDay Bull Flag Formation, as the 1.3277 Dynamic Daily Pivot Support and Hourly 20SMA 1.3282 look to Hold Price above the 1.3252 Daily Static Support Area. Full Completion of the Flag in the Mid−Term sees the 1.3420's Area, although in the more Immediate−Term 1.3377 Double−Top Behavior onto the 1.3400 Figure is the favored Bias.
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GBP/USD
GBP/USD: Pound turns down after hitting 1.4980 by FXstreet.com
The Pound has appreciated from 1.4920 opening price, past last week's high at 1.4945 to reach a session high at 1.4980 before turning down to 1.4920 again, ahead of the European session opening
USD/JPY
Market Session Recaps − Asia Session by FOREX.com
USD/JPY might have been the calmest of the moves as it glided higher by almost 50 pips to reach a 99.58 high for the day. The cross moves were a tad bit wilder, as EUR/JPY blasted off from the opening lows near 131.67 and landed just under 132.90.
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
US CONSTRUCTION SPENDING
| Date (GMT) | Event | Cons. | Previous | |
| May 4 | 14:00 | Construction Spending (MoM) | -1.4% | -0.9% |
Friday Notes - Construction spending by UniCredit Group
Housing is falling sharply, but state and local government infrastructure projects are still positive, though slowing. The main uncertainty is non−residential construction, which we assume was down only slightly in March.
[ Full Story ]Top Market Movers Review
Germany RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 4 | 06:00 | Retail Sales (MoM) | -1.0% | 0.2% | -0.2% |
| May 4 | 06:00 | Retail Sales (YoY) | -1.5% | -0.4% | -5.3% |
UPDATE: German March Retail Sales Down 1% From February (Dow Jones)
German retail sales fell more than expected in March in light of a sharp economic downturn and rising unemployment, data from the Federal Statistics office showed Monday.
[ Full Story ]- DATA SNAP: German March Retail Sales Down 1% From February (Dow Jones)
- Germany Retail Sales decrease 1% in Mar; 1.5% down on year (FXstreet.com)
Friday Notes - Germany Retail Sales: Scrapping premium supports consumption by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 4 | 01:30 | AU | ANZ Job Advertisements (Apr) | -7.5% | -8.5% | |
| 06:00 | DE | Retail Sales (MoM) (Mar) | -1.0% | 0.2% | -0.2% | |
| 06:00 | DE | Retail Sales (YoY) (Mar) | -1.5% | -0.4% | -5.3% | |
| 07:30 | CH | SVME − Purchasing Managers' Index (Apr) | 34.7 | 34.1 | 32.6 | |
| 07:55 | DE | Purchasing Manager Index Manufacturing (Apr) | 35 | 35 | ||
| 08:00 | EMU | Purchasing Manager Index Manufacturing (May) | 36.7 | 36.7 | ||
| 08:30 | EMU | Sentix Investor Confidence (Mar) | -27.8 | -35.3 | ||
| 14:00 | US | Construction Spending (MoM) (Mar) | -1.4% | -0.9% | ||
| 14:00 | US | Pending Home Sales (MoM) (Mar) | 0.1% | 2.1% | ||
| May 5 | 01:30 | AU | Building Permits (MoM) (Mar) | 2.8% | 7.8% | |