Wednesday, Sep 02, 07:38 GMT
EUROPEAN Trading Newsletter
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To Get Started
- Don't miss the Non-farm Payrolls Live Coverage Special 40th edition. With Wayne McDonell. Amazing prizes awaiting for you!
- Forex Trading Workshop - London – 20th & 21st September 2009, conducted by Fibonacci expert Sunil Mangwani
- New Blogger in town! We are very glad to introduce you César B. Leiceaga and his Tech Trading blog
- WEBINAR VIDEOS: The End of the Dollar Asset Bubble by Joseph Trevisani
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Market Readings: EURO and GBP are expected to gain today by Dr. S. Sivaraman
EURO and GBP were dropped for month beginning yesterday and the longs were taken by the players when traders liquidated in fear.
The Day Job Trader: Long GBP/USD Today? It worked for a short time by Ryan O'Keefe
The Disciplined Trader: NZD/USD - looking to break trend-line support by Pierre Charlebois
Sponsored by 
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Sep 2, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Sep 2, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Sep 2, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Sep 2, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Sep 2, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
| Wed, Sep 2, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN | |
Current Session: Europe
Struggling though still holding at the upper edge of a ‘triangle' consolidation pattern
Mizuho Corporate Bank − Struggling though still holding at the upper edge of a ‘triangle' consolidation pattern. The Euro is no longer overbought though bullish momentum is poor. We feel that the long term trend to US dollar weakness will resume, if not this month then in October.
Strategy: Attempt small longs at 1.4220; stop below 1.4085. Short term target 1.4350.
GBP/USD
The resistance level at 1.6380 held strong by ecPulse.com
The resistance level at 1.6380 held strong against cable's incline, which led to a sharp downside move yesterday, whereas, the bearish technical pattern assisted in pushing the pair to remain intact below 1.6200.
USD/CHF
USD/CHF remains very well bid on dips into the mid 1.0500's by DailyFX
USD/CHF remains very well bid on dips into the mid 1.0500's with the market attempting to once again rebound out from the familiar multi−week range base.
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 GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Sep 2 | 09:00 | Gross Domestic Product s.a. (YoY) | -4.7% | -4.9% |
| Sep 2 | 09:00 | Gross Domestic Product s.a. (QoQ) | -0.1% | -2.5% |
EMU economic indicators - GDP: Unlikely to be revised by BHF−Bank
The Purchasing Managers' Indices for the German and EMU manufacturing sector in August are unlikely to be revised significantly. The same goes for EMU GDP in Q2.
[ Full Story ]Top Market Movers Review
Australia GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 2 | 01:30 | Gross Domestic Product (QoQ) | 0.6% | 0.4% | 0.4% |
DATA SNAP: Australian 2Q GDP +0.6% On Qtr Vs +0.2% Consensus (Dow Jones)
Australia's average measure of gross domestic product rose 0.6% in the second quarter of 2009 from the first quarter and rose 0.6% from the year−earlier period, the Australian Bureau of Statistics said Wednesday. The data were higher than expected. Economists on average had expected that GDP rose 0.2% on a quarterly basis and rose 0.3% from a year earlier.
[ Full Story ]- Read the GDP data at Australian Bureau of Statistics
- DATA SNAP: Australian 2Q GDP Data Table (Dow Jones)
- Australia Q2 GDP +0.6% qtr/qtr (Forex Live)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 1 | 21:00 | US | ABC/Washington Post Consumer Confidence (Aug 30) | -45 | -45 | |
| 23:50 | JP | Monetary Base (YoY) (Jul) | 6.1% | 6.8% | 6.1% |
|
| Sep 2 | 01:30 | AU | Gross Domestic Product (QoQ) | 0.6% | 0.4% | 0.4% |
| 01:30 | AU | Gross Domestic Product (YoY) | 0.6% | 0.7% | 0.3% |
|
| 08:30 | UK | PMI Construction | 48.1 | 47.0 | ||
| 09:00 | EMU | Gross Domestic Product s.a. (QoQ)  | -0.1% | -2.5% | ||
| 09:00 | EMU | Gross Domestic Product s.a. (YoY) | -4.7% | -4.9% | ||
| 09:00 | EMU | Producer Price Index (YoY) (Jul) | -6.6% | |||
| 11:00 | US | MBA Mortgage Applications (Aug 28) | 7.5% | |||
| 12:15 | US | ADP Employment Change | -250K | -371K | ||