Thursday, Jul 02, 07:44 GMT
EUROPEAN Trading Newsletter
To Get Started
- Learning Center: New chapter online: Fundamental Analysis Read it now!
- Webinar Videos: Market harmonics and Forex Trading by Derek Frey
- All the events of the day in our Economic Calendar
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Forex Blogs
The Disciplined Trader: EUR/USD at crucial pivot point by Pierre Charlebois
The EUR/USD is now hovering around a crucial pivot point if the diagonal theory is to hold. A break much above 1.42 without a substantial pull back towards the lower trend−line negates the pattern.
FX Path: Forex Risk Management with Technical Analysis by James Chen
CEO's Blog: Facing the New NFA Regulation - Laying the Pave for a New Forex Industry in the U.S. by Francesc Riverola
Sponsored by 
Live Sessions Schedule
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 38th Edition
Expert: Wayne McDonell
Start: Thu, Jul 2, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
Trading Day's Live Wrap Up
Expert: Valeria Bednarik
Start: Thu, Jul 2, 22:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jul 2, 09:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Jul 2, 11:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 38th Edition | Wayne McDonell | WBN | |
| Thu, Jul 2, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN |  |
| Fri, Jul 3, 04:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
Current Session: Europe
Asian Markets mixed on commodities; Dollar advances after He Yafei words
FXstreet.com − Asian stocks are mixing red and green numbers today's Thursday session on commodities as China has sparked optimism on economic growth forecast. Asia is, thus, looking for follow higher yesterday's Wall Street close. Dollar is higher today after its major rivals, focusing today's key data as unemployment data and ECB meeting.
USD/JPY
USD/JPY: Attempt small shorts at 96.65 by Mizuho Corporate Bank
Nudging above last week's high but well below June's high, trading in the middle of the Ichimoku ‘cloud' around the moving averages. Very messy and inconclusive making strategies unsatisfactory. Wait for something clearer to emerge in the weekly chart.
EUR/USD
Additional Potential for Euro by Forex Ltd.
The pre−planned break−out variant for buyers has been implemented with achievement of minimal anticipated target. OsMA trend indicator, having marked relative bullish activity rise at break−out of key resistance range levels gives grounds to bullish activity priority for planning priority choice for today.
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 | |
| Jul 2 | 11:45 | ECB Interest Rate Decision | - | 1% |
ECB preview: It could be a non−event by Danske Bank A/S
We are confident that the ECB will leave the refinancing rate unchanged at 1.0%. We expect the ECB to keep rates unchanged for a prolonged period before they begin to hike. The focus will therefore be on the press conference. We will look for signs that the ECB rhetoric is becoming more positive, but we don't expect much. We do not anticipate the ECB to announce additional measures or top up on already announced measures. All in all, this might be a relatively dull ECB meeting − for a change.
[ Full Story ]Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY) by Precise Trader
ECB preview: likely on hold for some time by Easy Forex
Top Market Movers Review
Australia TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 2 | 01:30 | Trade Balance | -556M | -125M | -282B |
DATA SNAP: Australia May Trade Deficit A$556M (Dow Jones)
Australia's seasonally adjusted balance on trade in goods and services widened to a deficit of A$556 million in May from a deficit of A$282 million in April, the Australian Bureau of Statistics said Thursday. The figure is wider than analysts' expectations of a deficit of A$175 million. Australia recorded a deficit of A$1.50 billion in the year−earlier period.
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 1 | 14:30 | US | EIA Crude Oil Stocks change | -3.7M | -1.6M | -3.8M |
| 23:50 | JP | Monetary Base (YoY) (Jun) | 6.4% | 8.1% | 7.9% | |
| Jul 2 | 01:30 | NZ | ANZ Commodity Price (Jun) | 0.2% | 2.7% | |
| 01:30 | AU | Trade Balance (May) | -556M | -125M | -282B |
|
| 08:30 | UK | PMI Construction (Jun) | 46.0 | 45.9 | ||
| 09:00 | EMU | Producer Price Index (MoM) (May) | 0.1% | -1.0% | ||
| 09:00 | EMU | Producer Price Index (YoY) (May) | -5.6% | -4.6% | ||
| 09:00 | EMU | Unemployment Rate (May) | 9.4% | 9.2% | ||
| 11:45 | EMU | ECB Interest Rate Decision | 1% | |||
| 12:30 | US | Average Hourly Earnings (MoM) (Jun) | 0.1% | |||
Educational Resources
Non−Farm Payrolls Data is the most influential Data Point Figure released for ALL Financial Markets… due to the actual Numbers, Volatility, and Expectation. The Data is released by The Bureau of Labor Statistics every first Friday of the Month at approximately 12:30 GMT. Reactions to the Initial Release of NFP can cause deep Volatility as Sentiment and Expectation is measured in Real−Time
Related Resources
Register here for Trade Non-Farm Payrolls LIVE - 38th Edition Live session on Thu, Jul 2 2009 at 11:30 GMT
Live Coverage of this month's NFP with Nick Nasad from the Homepage of FXstreet.com: Thursday 2nd July at at 11:15 GMT - 07:15 EDT
Other Tim Salem's Reports on Fundamental Forex Foundations Report