Thursday, Jul 09, 07:55 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Forex Trading Today: Long−Term Views Prevail In The Current Climate by Tim Salem
With The Massive Risk−Averse Volatility and Strength of The Yen and The Dollar, IntraDay Perspectives surely felt some Heat moving through the most recent Trading Sessions.
FX Market Readings: Expected market moves for BOE interest rate announcement time by Dr. S. Sivaraman
Sponsored by 
Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Jul 9, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Day's Live Wrap Up
Expert: Valeria Bednarik
Start: Thu, Jul 9, 22:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jul 9, 10:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Jul 9, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN |  |
| Thu, Jul 9, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Jul 9, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN | |
Current Session: Europe
Attempt shorts at 93.05/93.50; stop well above 94.55
Mizuho Corporate Bank − Typical of the Yen in that when it decides to gain against other currencies it does so with a vengeance, taking no prisoners. It hovered above 94.00 most of the day in London as large option expiries were protected, but once these died stop loss selling caused the biggest daily drop since mid−March. This morning it should try and regain some semblance of stability, probably hovering around 93.00. A weekly close below 94.00 would add considerable bearish momentum for concerted downside probes of key support throughout this month.
Majors
Forecast on EURUSD, GBPUSD, USDJPY by Precise Trader
EURUSD closed @ 13890 which was below the open. The price went past 10 pips away from our Support target 1 level and gained some of the loses.
USD/JPY
Dollar trades above 93.00 against Yen by FXstreet.com
After rising above 93.00 in Asian session on recovery path from 91.82, 4−month low, pair has been trading in a small range between 93.00/35.
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 BOE INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Jul 9 | 11:00 | BoE Interest Rate Decision | 0.5% | 0.5% |
Friday Notes - W−shaped recovery increasingly probable by UniCredit Group
The GBP 125 bn target for the asset purchase facility (APF) will need approximately one month to be completed. Given the decisive improvement in survey indicators, the BoE might not feel in a hurry to step up its quantitative easing policy at the current juncture. Still, there are chances that the central bank will give hints on whether it intends to take further steps in this direction, expanding the asset purchase facility.
[ Full Story ]Top Market Movers Review
Germany CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 9 | 06:00 | Consumer Price Index (MoM) | 0.4% | 0.4% | -0.1% |
| Jul 9 | 06:00 | Consumer Price Index (YoY) | 0.1% | 0.1% | 0.0% |
DATA SNAP: German June CPI Up Slightly, As Expected (Dow Jones)
German consumer prices edged up in June, as expected, but overall price pressure remained muted, data from the Federal Statistics Office confirmed Thursday.
[ Full Story ]- Read the CPI data at German Statistics
- Germany Jun CPI up 0.4% MoM and 0.1% YoY (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 9 | 00:00 | G8 Meeting | ||||
| 06:00 | DE | Consumer Price Index (MoM) (Jun) | 0.4% | 0.4% | -0.1% | |
| 06:00 | DE | Consumer Price Index (YoY) (Jun) | 0.1% | 0.1% | 0.0% | |
| 06:00 | DE | Trade Balance (May) | 9.6B | 9.0B | 9.4B | |
| 08:00 | EMU | ECB Monthly Report (Jun) | ||||
| 08:30 | UK | Total Trade Balance (May) | -£2.75B | -£3.00B | ||
| 11:00 | UK | BoE Interest Rate Decision | 0.5% | 0.5% | ||
| 12:15 | CA | Housing Starts s.a (YoY) (Jun) | 130.0K | 128.4K | ||
| 12:30 | US | Continuing Jobless Claims (Jun 27) | 6702K | |||
| 12:30 | US | Initial Jobless Claims (Jul 4) | 610K | 614K | ||
Educational Resources
The Psychological Utility of Technical Analysis
This report is about one of the most fascinating and essential topics in currency trading; the interaction between the psychology of the market and the decisions of the individual trader. A currency moves because market participants make basic assumptions about future price behavior based on the record of past price action. Read the report!
Related Resources
Man vs. Market - Ebook by Rob Booker
Making good decisions - Report from The Trader's Journal