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EUROPEAN Trading Newsletter
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Forex Blogs
Forex Trading Today: BoE Minutes May Give Additional Indication of Stimulus by Tim Salem (CVJ)
We prepare for the Bank of England Minutes to be released, as we look for any additional signs of increased Stimulus since they failed to do their "Allocated Increase" of 25B Sterling in additional Asset Purchases.
FX Path: NZD/USD - Hits Strong Resistance Confluence by James Chen
FX Market Readings: Swing and slide moves are expected before next rise by Dr. S. Sivaraman
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| Wed, Jul 22, 12:00 GMT | FX System Trading  | Sam Seiden | WBN |  |
| Wed, Jul 22, 13:00 GMT | Main Fundamental theme in the Currency Market | John Kicklighter | WBN |  |
Current Session: Europe
Price is moving downwards, testing the key support area at 1.6350
FXstreet.com Independent Analyst Team − Slightly Bearish Hourly Sentiment is Seen in the Immediate−Term, as Price is moving downwards, testing the key support area at 1.6350 − 1.6375. These levels may hold as the 200SMA is very near, but a Downside Break of these levels would take the Price to test 1.6265 support. To the Upside, there would be some momentum if Price breaks the Short−Term Bearish Trendline, which now is placed at 1.6435.
EUR/USD
Trying to hold above 1.4200 by Easy Forex
Trying to hold above 1.4200 but yesterday's ‘doji' shows it's not quite there yet and really needs a weekly close above this point for bullish momentum to kick in hard.
USD/JPY
USDJPY Remains locked in a downtrend off of the yearly highs by 101.45 by DailyFX
Remains locked in a downtrend off of the yearly highs by 101.45 and a lower top is now sought out below 97.00, potentially at 94.80 ahead of the next drop.
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 RETAIL SALES
| Date (GMT) | Event | Cons. | Previous | |
| Jul 23 | 08:30 | Retail Sales (MoM) | 0.4% | -0.6% |
| Jul 23 | 08:30 | Retail Sales (YoY) | - | -1.6% |
Friday Notes - We expect June retail sales to have remained stagnant by UniCredit Group
Following a marked contraction in May, we expect June retail sales to have remained stagnant. Surveys of the retail sector, though they have not done a good job in tracking sales dynamics, have either stabilized or marked some improvement in June. Overall, retail sales should have expanded in 2Q at a slightly faster pace than in the previous quarter.
[ Full Story ]Top Market Movers Review
Australia CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 22 | 01:30 | Consumer Price Index (QoQ) | 0.5% | 0.5% | 0.1% |
DATA SNAP: Australian CPI Speeding Up (Dow Jones)
Australia's consumer price index rose 0.5% in the second quarter of 2009 from the first quarter and rose 1.5% from a year earlier, the Australian Bureau of Statistics said Wednesday. Economists on average had expected the CPI rose 0.5% from the previous quarter and rose 1.5% from a year earlier.
[ Full Story ]- Read the CPI data at Australian Bureau of Statistics
- Australian Q2 CPI (all groups) +1.5% YoY, as expected (Forex Live)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 21 | 13:00 | CA | BoC Interest Rate Decision | 0.25% | 0.25% | 0.25% |
| 15:00 | US | Fed's Bernanke testifies | ||||
| Jul 22 | 01:30 | AU | Consumer Price Index (QoQ) | 0.5% | 0.5% | 0.1% |
| 01:30 | AU | Consumer Price Index (YoY) | 1.5% | 2.5% | ||
| 08:30 | UK | Bank of England Minutes | ||||
| 09:00 | EMU | Industrial New Orders (YoY) | -35.5% | |||
| 09:00 | EMU | Industrial New Orders s.a. (MoM) | 1.9% | -1.0% | ||
| 10:00 | UK | CBI Industrial Trends Survey − Orders (MoM) | -46 | -51 | ||
| 12:30 | CA | Retail Sales (MoM) | -0.8% | |||
| 12:30 | CA | Retail Sales ex Autos (MoM) | -0.5% | |||