Thursday, Aug 27, 07:32 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
The Disciplined Trader: A look at the index going into the European session by Pierre Charlebois
I would say that the overall trend is likely to remain up for the Dollar (down for the EUR/USD) in the medium term but we are due for some retracement prior to the next leg of USD strength.
FX Market Readings: Market sentiments and surprises by Dr. S. Sivaraman
FX Bootcamp: Volatility Analysis: GBP/JPY by Curt Wehrley
Sponsored by 
Live Sessions Schedule
Watch Live Coverage of the US GDP
Expert: Jerry Furst
Start: Thu, Aug 27, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
The End of the Dollar Asset Bubble
Expert: Joseph Trevisani
Start: Thu, Aug 27, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Aug 27, 11:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
| Thu, Aug 27, 14:00 GMT | The second half of 2009  | Adam Rosen | WBN |  |
| Thu, Aug 27, 16:00 GMT | The End of the Dollar Asset Bubble | Joseph Trevisani | WBN | |
| Thu, Aug 27, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
Current Session: Europe
Cable has turned lower, taking out key support at 1.6265/80
FXA − Cable has turned lower, taking out key support at 1.6265/80 (both the base of the bullish channel since June and the Aug 17th low), and raising the potential for a further downside acceleration ahead. From an Elliott Wave perspective, note the series of subwaves over the last few weeks, and adds to the potential for a large tumble from here within wave iii of 3 in the fall from the Aug 5th high at 1.7040 (often the most "explosive" part of a larger cycle, see numbering on daily chart below).
EUR/USD
EUR/USD: (1.4244) Failed in its attempts above 1.4323 (neckline of Double Bottom: see graph by KBC Bank
Failed in its attempts above 1.4323 (neckline of Double Bottom: see graph). Support area at 1.4225/ .4220 (daily Medium Term Moving Average↑/ today's low?), with next levels at 1.4209/ .4205
USD/JPY
USD/JPY dropped from its early perch near 94.25 to sink below 93.60 lows by FOREX.com
SD/JPY dropped from its early perch near 94.25 to sink below 93.60 lows by session end as traders sought the perceived safety of the Japanese currency.
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
US GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Cons. | Previous | |
| Aug 27 | 12:30 | Gross Domestic Purchases Price Index | 0.7% | 0.7% |
| Aug 27 | 12:30 | Real Personal Consumption Expenditures (QoQ) | -1.2% | 0.6% |
| Aug 27 | 12:30 | Gross Domestic Product Annualized | -1.4% | -6.4% |
US economic indicators - GDP growth rate could be revised to –1.5% in Q2 by BHF−Bank
The advance estimate of Q2 GDP showed that the pace of contraction slowed from an annualised –6.4% to –1.0% qoq: although consumer spending and inventories had a negative impact, net exports and government purchases contributed positively, and the decline in corporate and residential investment was less marked than in Q1. The decrease in real imports relative to the decrease in real exports was even more pronounced than initially estimated; net exports'positive contribution could thus have been even bigger.
[ Full Story ]Top Market Movers Review
Germany GFK CONSUMER CONFIDENCE SURVEY
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 27 | 06:00 | Gfk Consumer Confidence Survey | 3.7 | 3.6 | 3.4 |
German GfK Sept Consumer Confidence At 3.7 Vs 3.4 (Dow Jones)
German market−research group GfK's forward−looking consumer climate index rose to 3.7 points for September, meeting market expectations, Reuters news agency said Thursday.
[ Full Story ]- Germany Sep Gfk Consumer Confidence Survey up to 3.7 vs 3.4 (FXstreet.com)
EMU economic indicators - GfK consumer confidence for September will probably have improved by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 27 | n/a | DE | Consumer Price Index (MoM) (Aug)  | 0% | 0% | |
| 06:00 | DE | Gfk Consumer Confidence Survey (Sep) | 3.7 | 3.6 | 3.4 |
|
| 06:00 | UK | Nationwide Housing Prices n.s.a (YoY) (Aug) | -2.7% | -3.9% | -6.2% | |
| 06:00 | UK | Nationwide Housing Prices s.a (MoM) (Aug) | 1.6% | 0.6% | 1.4% |
|
| 08:00 | EMU | M3 (YoY) (Jul) | 3.3% | 3.5% | ||
| 08:30 | UK | Total Business Investment (QoQ) (2Q) | -3.6% | -7.6% | ||
| 08:30 | UK | Total Business Investment (YoY) (2Q) | -12.2% | -9.7% | ||
| 10:00 | UK | CBI Distributive Trades Survey − Realized (MoM) | -11 | -15 | ||
| 12:30 | US | Continuing Jobless Claims (Aug 15) | 6215K | 6241K | ||
| 12:30 | US | Gross Domestic Product Annualized (2Q) | -1.4% | -6.4% | ||