Friday, Apr 06, 11:05 GMT
U.S. Trading Newsletter
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Special Webinars
SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 11th Edition
Expert: Wayne McDonell
Start: Fri, Apr 6, 12:00 GMT
Sponsored by: 
Type of Session: Webinar
Current Session: Europe - U.S.
GBP
Today's Trading Idea by Friend-of-Fxtrend
GBP has made a five wave up and then retraced 1 wave down to 9666. It looks like Cable is going to trace a 3 wave down before further advancement. Wave 'a' has been traced from 9820 to 9666. now we may see a wave 'b' from 9666 to 9760 ( 61.8%) or max upto 9785 ( 78.6%) or 9820 ( FLAT corrective) but from there a wave 'c' should be going down below 9666 targetting 9580 either today or next week.
[ Full Story ]- Discover our new blog: Inside technicals and chart patterns by Raghee Horner
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
- Be up to date with the Latest Forex News
- Read the comments to the latest market moves at our Forex Forum
Other Topics for this Session:
Forex Commentaries and Forecasts - Forecast for the USDJPY trading during April-May 2007 by World-Signals®
Currency Majors Technical Analysis by Mataf.net
Daily Recommended Trades - EUR/USD daily outlook by E-Forex
Majors at a Glance
- EUR/USD
- Back around opening price level at 1.3429 , above today's pivot at 1.3407
04/06/2007 10:36 GMT - GBP/USD
- Trades around opening price level at 1.9706 all day on a very tight daily range
04/06/2007 10:36 GMT - USD/CHF
- Continues to trade around today's pivot at 1.2161
04/06/2007 10:36 GMT - USD/JPY
- Floating above today's pivot at 118.71 on a narrow daily range
04/06/2007 10:36 GMT
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US NONFARM PAYROLLS
| Date (GMT) | Event | Cons. | Previous | |
| Apr 6 | 12:30 | Nonfarm Payrolls | 118K | 97K |
Spotlight on your Forex Week - Will NFP Save the Dollar from Further Losses? by Windfall Management
Most important though, is the NFP, and with analysts forecasting a slightly better number this week, we need to see how the Employment Sector is performing. Any surprises on the downside will again give more excuses for traders to sell the greenback and take EUR/USD a step closer to 1.35.
[ Full Story ]- Special Event: Trade Non-Farm Payrolls LIVE - 11th Edition with Wayne McDonell
- Forex - US dollar mixed Sydney afternoon, rangebound ahead of payrolls data (AFX News)
Currency Currents by Black Swan Capital
US Open Market Points - Currencies Quiet Awaiting NFP Data by FXCM
Top Market Movers Review
Japan LEADING ECONOMIC INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 6 | 05:00 | Leading Economic Index | 30.0% | - | 40.9% |
Japan Feb leading index 30.0 vs 40.9 in Jan; coincident index 16.7 vs 45.0 (AFX News)
The index of leading economic indicators fell to 30.0 in February from 40.9 in January, but above market expectations, preliminary data from the Cabinet Office showed. Economists on average forecast the leading index would come in at 5.6 for January. A reading above 50 points to economic expansion over the subsequent six months, while figures below 50 suggest a contraction.
[ Full Story ]- Read the Leading Indicator report at Japan Cabinet Office
- Japan Feb Leading Indicators 30.0; Coincident 16.7 (Dow Jones)
- Japan finance minister says G7 unlikely to focus on yen weakness (AFX News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 6 | 05:00 | JP | Leading Economic Index (Feb)  | 30.0% | 40.9% | |
| 12:30 | US | Average Workweek (Mar) | 33.8 | 33.7 | ||
| 12:30 | US | Hourly Earnings (Mar) | 0.3% | 0.4% | ||
| 12:30 | US | Nonfarm Payrolls (Mar) | 118K | 97K | ||
| 12:30 | US | Unemployment Rate (Mar) | 4.6% | 4.5% | ||
| 14:00 | US | Wholesale Inventories (Feb) | 0.4% | 0.7% | ||
| 19:00 | US | Consumer Credit (Feb) | $5.0B | $6.4B | ||
| Apr 9 | 04:00 | JP | Interest Rate Decision | 0.5% | ||
| Apr 10 | 05:45 | CH | Unemployment Rate | 3% | ||
| 06:00 | JP | BoJ Governor Fukui Speaks | ||||