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EUROPEAN Trading Newsletter
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International Traders Conference
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Don't miss the third edition of FXstreet.com's International Traders Conference (ITC) on October 14-16, 2009 in Barcelona. Live Trading next to the experts.
This year's key speakers panel: Valeria Bednarik, Rob Booker, James Chen, Kim Cramer Larsson, Markus Heitkoetter, Ashraf Laidi and Andrei Pehar.
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To Get Started
- WEBINAR VIDEOS: Economic and Technical View of the Currency Market by Rob Booker
- All the events of the day in our Economic Calendar
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Forex Blogs
The Day Job Trader: Resistance for GBP/USD? by Ryan O'Keefe
Please tell me you caught some pips off Tuesday morning's breakout! OK, so GBP/USD has paused below $1.66 and along a minor trend line which begs the question, is a breakout coming or will the pair go lower from here? It's worth noting the COT data remains net short on this currency and CCI is definitely in "overbought" territory.
Chartology: EUR/USD 60 min Channel Swing Trigger by Raghee Horner
Tech Trading: EUR/USD Stop hunt by César B. Leiceaga
Sponsored by 
Live Sessions Schedule
Using Fibonacci ratios to manage your trades efficiently − Free Access Day
Expert: Sunil Mangwani
Start: Thu, Sep 10, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Examining Non Farm Payrolls − Free Access Day
Expert: Adam Rosen
Start: Thu, Sep 10, 12:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Sep 10, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently − Free Access Day | Sunil Mangwani | WBN | |
| Thu, Sep 10, 11:00 GMT | FX Instructor Live Trading Room − Free Access Day | Mark De La Paz | WBN |  |
| Thu, Sep 10, 12:30 GMT | Examining Non Farm Payrolls − Free Access Day | Adam Rosen | WBN |  |
| Thu, Sep 10, 15:00 GMT | New NFA Regulations: How Currency Trading Will Be Affected − Free Access Day | Rob Booker | WBN | |
Current Session: Europe
Break below 91.50 should see implied at−the−money volatility increase
Mizuho Corporate Bank − Carefully re−testing of July's low at 91.73, with a low at 91.61 yesterday and surprisingly solid bids in the 91.65 area. The US dollar is not oversold and momentum is just bearish, longer term averages also suggesting a short position as the 9−day average bears down on prices. An eventual break below 91.50 should see implied at−the−money volatility increase significantly as we approach January's low at 87.10.
EUR/USD
EUR/USD: (1.4575) New recovery high above channel from 1.3832 by KBC Bank
New recovery high above channel off 1.3832 (see graph): has met 1st target daily Double Bottom of f 1.3749 at 1.4593 and approached 1.4623 (61.8% 1.6040 to 1.2331).
GBP/USD
Cable holds steady ahead of today's Interest Rate Decision in the U.K by InnerFX
Cable holds steady ahead of today's Interest Rate Decision in the U.K. at 12:00 GMT – the rate is expected to remain unchanged, at .50%.
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 | |
| Sep 10 | 11:00 | BoE Interest Rate Decision | 0.5% | 0.5% |
Friday Notes - UK, BoE: Repo rate on hold by UniCredit Group
The BoE should keep the repo rate unchanged this month, and introduce no changes to the outstanding APF. The August Inflation Report clearly indicated that market expectations (for a first rate hike in Q1 2010) were too aggressive, given that nominal demand remains very much subdued despite the ongoing QE program.
[ Full Story ]Top Fundamental Stories - Europe Ahead: Bank of England will hold interest rate at 0.5% and Asset Purchase Program at 175 billion pounds by ecPulse.com
US TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Sep 10 | 12:30 | Trade Balance | - | -$27.01B |
US economic indicators - Trade balance (Jul): Imports lifted by temporary surge in car demand by BHF−Bank
As the graph shows, the US trade deficit has been falling sharply since last autumn, and the deficit ex petroleum has dropped to a long−term low of just under $10bn. However, in June, the trade deficit rose by more than $1bn, mainly due to a surge in import prices.
[ Full Story ]Canada BOC INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Sep 10 | 13:00 | BoC Interest Rate Decision | - | 0.25% |
Daily U.S. Forex Summary - Bank of Canada is expected to keep rates on hold by Union Bank of California
[ Full Story ]Top Market Movers Review
Australia CONSUMER INFLATION EXPECTATION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 10 | 01:00 | Consumer Inflation Expectation | 3.5% | - | 3.5% |
Australian Inflation Expectations Unchanged At +3.5% In Sep (Dow Jones)
[ Full Story ]- Read the Inflation data at Melbourne Institute
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 9 | 23:01 | UK | NIESR GDP Estimate (Aug) | 0.2% | -0.4% | |
| 23:50 | JP | Domestic Corporate Goods Price Index (MoM) (Aug) | 0.0% | 0.4% | ||
| 23:50 | JP | Domestic Corporate Goods Price Index (YoY) (Aug) | -8.5% | -8.5% | ||
| Sep 10 | 01:00 | AU | Consumer Inflation Expectation (Sep) | 3.5% | 3.5% | |
| 08:00 | EMU | ECB Monthly Report | ||||
| n/a | UK | Halifax House Prices (MoM) | 0.5% | 1.1% | ||
| n/a | UK | Halifax House Prices (YoY) | -10.1% | -12.1% | ||
| 11:00 | UK | BoE Interest Rate Decision | 0.5% | 0.5% | ||
| 12:30 | US | Continuing Jobless Claims (Aug 29) | 6234K | |||
| 12:30 | CA | Foreign investment in Canadian securities (Jul) | $10.51B | |||