Thursday, Aug 06, 07:37 GMT
EUROPEAN Trading Newsletter
Follow us on Twitter • Subscribe to our RSS feeds • Visit our Facebook page
To Get Started
- BoE and ECB Interest Rates decision Live Coverage: Thursday, at 10:45 GMT with Valeria Bednarik
- NFP Release Live Coverage: Friday, at 12:45 GMT with Nick Nasad
- WEBINAR VIDEOS: The Weather Report: Ichimoku Cloud Trading with Chris Capre
- Forex Tools renewed! Check out the brand new features: Margin Calculator and Carry Trade Calculator
- All the events of the day in our Economic Calendar
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
First on Forex: End of Quantitative Easing? BoE and ECB Signals Coming? by Jerry Furst
As the Dollar Index slides to fresh lows, the Pound and the Euro have been painting a sideways market ahead of the BoE and ECB announcements. Jean Claud Trichet will have his press conference as the US releases Weekly Jobless Claims, and then the Non Farm Payroll on Friday.
FX Bootcamp: NFP week: build a few very conservative trade plans by David Pegler
CEO's Blog: UPDATE - Open Letter to FX Pulp top executive… FX Pulp Deny any link with Crown Forex S.A? by Francesc Riverola
Sponsored by 
Live Sessions Schedule
Tracking the forex market together / Part I
Expert: Dr.S.Sivaraman
Start: Thu, Aug 6, 09:00 GMT
Type of Session: Webinar
Tracking the forex market together / Part II
Expert: Dr.S.Sivaraman
Start: Thu, Aug 6, 13:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Aug 6, 09:00 GMT | Tracking the forex market together / Part I | Dr.S.Sivaraman | WBN |  |
| Thu, Aug 6, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Aug 6, 13:00 GMT | Tracking the forex market together / Part II | Dr.S.Sivaraman | WBN | |
| Thu, Aug 6, 16:00 GMT | What is VWAP: How to Spot Institutions | Mark Whistler | WBN | |
Current Session: Europe
Cable looks under pressure from the short term charts
Charmer Charts.com − Cable looks under pressure from the short term charts. This should now back off and trade lower after the failure to maintain above 1.7000. The small upward flag on the daily charts coupled with the weakness looking on the hourly charts suggest some more downside this session.
EUR/USD
The Euro is consolidating at the very top of this year's range by Mizuho Corporate Bank
The Euro is consolidating at the very top of this year's range, is not overbought (though bullish momentum could be stronger) so expect another burst higher hopefully by the end of this week.
USD/JPY
The drop below 93.50 eliminates the bullish triangle by DailyFX
The drop below 93.50 eliminates the bullish triangle count and leaves us with the bearish count in which the decline from 101.50 is a series of 1st and 2nd waves
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 | |
| Aug 6 | 11:45 | ECB Interest Rate Decision | - | 1% |
| Aug 6 | 11:00 | BoE Interest Rate Decision | - | 0.5% |
Event risk: BOE and ECB policy meetings Thursday by Easy Forex
The next Bank of England (BOE) policy decision will be announced on Thursday August 6th. At the July policy meeting, the BOE elected to keep policy on hold at 0.5% and maintain its current level of asset purchases at £125 bln.
[ Full Story ]EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Aug 6 | 11:45 | ECB Interest Rate Decision | - | 1% |
The impact of the ECB policy meeting should be limited by Easy Forex
The next European Central Bank (ECB) meeting will be held on Thursday August 6th. At May policy meeting the ECB reduced interest rates to a record low 1%, expanded its repo auctions from six months to 12 months and announced a plan to buy €60 bln in covered bonds.
[ Full Story ]Top Market Movers Review
Australia EMPLOYMENT CHANGE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 6 | 01:30 | Employment Change | 32.2K | -18.0 | -23.1K |
DATA SNAP: Australian Jul Unemployment Rate 5.8% (Dow Jones)
Australia's unemployment rate remained at a lower−than−expected seasonally adjusted 5.8% in July from June. The number of employed rose 32,200, the Australian Bureau of Statistics said Thursday. Economists on average had expected an unemployment rate of 6.0% in July, with the number of employed down 20,000.
[ Full Story ]- Read the Employment data at Australian Bureau of Statistics
- Australian July Unemployment rate 5.8%, AUDUSD shoots higher (Forex Live)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 6 | 05:00 | JP | Coincident Index (Jun)  | 87.8% | 87.1% | |
| 05:00 | JP | Eco Watchers Survey: Outlook (Jul) | 45.6 | |||
| 05:00 | JP | Leading Economic Index (Jun) | 79.8 | 79.7 | 76.9 | |
| 05:45 | CH | SECO Consumer Climate | -42 | -41 | -38 | |
| 10:00 | DE | Factory Orders n.s.a. (YoY) (Jun) | -26.5% | -29.4% | ||
| 10:00 | DE | Factory Orders s.a. (MoM) (Jun) | 0.6% | 4.4% | ||
| 11:00 | UK | BoE Interest Rate Decision | 0.5% | |||
| 11:45 | EMU | ECB Interest Rate Decision | 1% | |||
| 12:30 | CA | Building Permits (MoM) (Jun) | 1.0% | 14.8% | ||
| 12:30 | US | Continuing Jobless Claims (Jul 25) | 6197K | |||
Educational Resources
US specific forex regulations to be aware of
This week's article will review some of the new regulations affecting retail Forex traders with accounts in the US that are scheduled to take effect in August, 2009. Read full Steve Misic's article!
Other articles of this week's Lessons from the Pros
Pro−Active Financial Management - Article by Sam Seiden
The Great Reflation Experiment - Article by John Mauldin
Interpreting the Option Chain - Article by Online Trading Academy Team
Selecting a Commodity to Trade - Article by Don Dawson