Monday, Jun 08, 07:34 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Forex Trading Today: Yen Crosses Await Momentum and Appreciation by Tim Salem
Greetings, Everyone and Welcome to a New Week! We begin the Week with a relatively "light" Event−Risk Day… as The Aussies have a Bank Holiday so they are all at The Beach putting " Shrimp on the Barbie"… and The EU and U.K. have light Data with Investor Confidence and German Factory Orders, as well as BRC Retail Sales and the RICS Housing Numbers.
FX Market Readings: Week beginning volatile moves by Dr. S. Sivaraman
FXbootcamp: Pre London Outlook June 8th 2009 by David Pegler
Sponsored by 
Live Sessions Schedule
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Jun 8, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, Jun 8, 16:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jun 8, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, Jun 8, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, Jun 8, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Jun 8, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN | |
Current Session: Europe
EUR/USD: Price is held by the 20SMA acting as Dynamic Resistance
FXstreet.com Independent Analyst Team − Neutral Hourly Consolidation is seen as is Price is held by the 20SMA acting as Dynamic Resistance. The Hourly 20SMA/200SMA Bearish Cross is keeping Pressure to the Downside as Price moves between the Daily Static Support at 1.3927 and Daily Dynamic Resistance at 1.4036. RSI Readings and Slope confirm the View at "36" as Price may see an Hourly Double−Bottom before Price Appreciation sees a break through the Daily Pivot Area of 1.4055.
GBP/USD
GBPUSD: Weakening On Rejection Of Higher Level Prices by FXTechstrategy
A cap was seen on the pair's medium term run to the upside the past week, driving GBP sharply lower to close at 1.5981 and printing a shooting star candle( a top reversal signal).
USD/JPY
Hourly Trend and Daily Trend are sideways up by Precise Trader
There is no US data out today, so expect even a quiet session with an Upward bias. The patterns are not clear but should not trade below 9770 inorder to be bullish.
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
Germany FACTORY ORDERS S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Jun 8 | 10:00 | Factory Orders s.a. (MoM) | -0.8% | 3.3% |
| Jun 8 | 10:00 | Factory Orders n.s.a. (YoY) | -35.8% | -26.7% |
Friday Notes - Germany, New Orders: Slump in demand halted by UniCredit Group
Following six consecutive months of dramatic declines in new orders, March brought a strong rise m−o−m. The reading was, however, influenced positively by a disproportionately large number of big ticket orders. Even though business surveys point to a substantial improvement in the prospects for orders, they have, nevertheless, not yet reached the expansion threshold. Hence, we expect April to bring another downward correction. All in all, however, an imminent stabilization in the order situation has become increasingly likely.
[ Full Story ]Top Market Movers Review
Japan ADJUSTED CURRENT ACCOUNT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 7 | 23:50 | Adjusted Current Account | ¥966.3B | ¥960.0B | ¥902.3B |
Japan Apr Unadjusted Curr Acct Surplus Y630.5B; −54.5% Y/Y (Dow Jones)
Japan's current account, the broadest measure of the country's trade with the rest of the world, logged a Y630.5 billion surplus in April, the government said Monday, as recent record falls in exports abated. But the current account surplus was still down 54.5% on year, Ministry of Finance data showed, as global trade remained depressed.
[ Full Story ]- Read the Current Account data at Japanese Ministry of Finance
- Japan April Current Account Table Of Data (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 8 | 05:00 | JP | Eco Watchers Survey: Current (May) | 36.7 | 36.7 | 34.2 |
| 05:00 | JP | Eco Watchers Survey: Outlook (May) | 43.3 | 39.7 | ||
| 05:45 | CH | Unemployment Rate (May) | 3.4% | 3.5% | 3.5% | |
| 05:45 | CH | Unemployment Rate s.a. (May) | 3.5% | 3.6% | 3.4% | |
| 08:30 | EMU | Sentix Investor Confidence (Jun) | -31.0 | -34.3 | ||
| 10:00 | DE | Factory Orders n.s.a. (YoY) (Apr) | -35.8% | -26.7% | ||
| 10:00 | DE | Factory Orders s.a. (MoM) (Apr) | -0.8% | 3.3% | ||
| 12:15 | CA | Housing Starts s.a (YoY) (May) | 127K | 118K |
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| 23:01 | UK | BRC Retail Sales Monitor − All (YoY) (May) | 4.6% | |||
| 23:01 | UK | RICS House Price Balance (May) | -52.0% | -59.9% | ||