Friday, Aug 31, 11:11 GMT
U.S. Trading Newsletter
To Get Started
- Check the NFA new regulation in our special content: The Brokers (re) Evolution
- SPECIAL EVENT: Trade Non−Farm Payrolls LIVE on Fri, Sep 7 2007, 12:00 GMT
- Millionaire Traders: The new book by Kathy Lien & Boris Schlossberg
- FXstreet.com 1st International Traders Conference − Come and meet our renowned Speakers
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.
Live Sessions Schedule
US Session Open
Expert: Ed Ponsi
Start: Fri, Aug 31, 13:30 GMT
Sponsored by: 
Type of Session: Webinar
Trading with Tim Billups
Expert: Tim Billups
Start: Fri, Aug 31, 16:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Aug 31, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN | |
| Fri, Aug 31, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Fri, Aug 31, 16:00 GMT | Trading with Tim Billups | Tim Billups | WBN | |
| Mon, Sep 3, 11:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: Europe − U.S.
GBP/USD
European Forex Recap by FX Solutions
Sterling advanced on better−than−expected UK consumer confidence in August where the major purchase component rose to 4 versus −2 in July, with the additional push from the Sterling−yen cross rising from 233.50 to 235.10. Cable rose from the session support at 2.0130 to breach 2.0210.
Dollar Yen was confined to relatively narrow range in Europe between 116.10 and 116.50 on a firm note. Euro−Yen mirrored the movement range bound between 159.40 and 158.50.
Dollar Swiss was well bid rising from 1.2020 to 1.2065/
Euro was range bound as well between 1.3680 and 1.3648. A few participants stayed at the sidelines awaiting the results of the Fed chief's comments later. There was no reaction to the German Retails Sales realease for July.
- Tony Juste is finally back! Read his last weblog posts
- The Signals Tracker: performance of signals providers
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
- Be up to date with the Latest Forex News
Other Topics for this Session:
Daily Technical Analysis − GBP: Rallies may be slow and hard won by Mizuho Corporate Bank
Daily Forex Commentary − Bernanke takes the Stage by Jyske Bank
Daily Recommended Trades − EUR/USD daily outlook by E−Forex
Majors at a Glance
- EUR/USD
- Trades below first resistant level 1.3673
08/31/2007 10:15 GMT - GBP/USD
- Continues to move up above first resistant level 2.0186
08/31/2007 10:15 GMT - USD/CHF
- Stays around opening price level 1.2047 , above pivot level 1.2032
08/31/2007 10:16 GMT - USD/JPY
- Trades around first resistant level 116.31
08/31/2007 10:16 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading Ltd. , Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US CORE PERSONAL CONSUMPTION EXPENDITURE
| Date (GMT) | Event | Cons. | Previous | |
| Aug 31 | 12:30 | Personal Consumption Expenditures − Prices Index | - | 2.3% |
| Aug 31 | 12:30 | Core Personal Consumption Expenditure (QoQ) | 1.4% | 1.4% |
| Aug 31 | 12:30 | Personal Spending | 0.4% | 0.1% |
| Aug 31 | 12:30 | Core Personal Consumption Expenditure (MoM) | 0.2% | 0.1% |
US economic indicators - Consumer confidence is likely to correct downwards significantly in August by BHF−Bank
The core PCE deflator only rose by 0.1% mom in June, which lowered the annual rate to 1.9%. However, medical care costs, which have a higher weighting in the calculation of the PCE deflators, have risen markedly.
[ Full Story ]Top Market Movers Review
UK GFK CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 31 | 09:30 | Gfk Consumer Confidence | -4 | -7 | -6 |
DATA SNAP: GfK: UK Consumer Confidence Improves In August (Dow Jones)
U.K. consumer confidence rebounded in August, as consumers' appetite to make major purchases increased, a survey published by market research organization GfK NOP showed Friday.
[ Full Story ]- Read the report: Consumers save, not spend; the GfK Consumer Confidence Index score drops by three points to −6 at GfK
- DATA SNAP: GfK: UK Consumer Confidence Improves In August −2 (Dow Jones)
- UK August Gfk/NOP consumer confidence rises unexpectedly to −4 vs −6 in July (Thomson Financial News)
- UK Gfk Consumer Confidence increases to −4 in Aug (FXstreet.com)
EMU CONSUMER PRICE INDEX ESTIMATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 31 | 09:00 | Consumer Price Index Estimate (YoY) | 1.8% | 1.8% | 1.8% |
EMU economic indicators - German ifo business climate is expected to have deteriorated in August by BHF−Bank
The Eurostat flash estimate is likely to show annual euro area inflation remaining unchanged at 1.8% in August. This would correspond with a monthly increase of 0.1%. As in the months before, food price increases have probably been somewhat elevated.
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 31 | 09:00 | EMU | Consumer Confidence (Aug) | -3 | -2 | -2 |
| 09:00 | EMU | Consumer Price Index Estimate (YoY) | 1.8% | 1.8% | 1.8% | |
| 09:00 | EMU | Unemployment Rate (Jul) | 6.9% | 6.9% | 6.9% | |
| 09:30 | UK | Gfk Consumer Confidence (Aug) | -4 | -7 | -6 | |
| 12:30 | US | Core Personal Consumption Expenditure (MoM) (Jul) | 0.2% | 0.1% | ||
| 12:30 | US | Core Personal Consumption Expenditure (QoQ) (2Q)  | 1.4% | 1.4% | ||
| 12:30 | US | Core Personal Consumption Expenditure (YoY) (Jul) | 2.0% | 1.9% | ||
| 12:30 | US | Personal Consumption Expenditures − Prices Index (Jul) | 2.3% | |||
| 12:30 | US | Personal Income (Jul) | 0.3% | 0.4% | ||
| 12:30 | US | Personal Spending (Jul) | 0.4% | 0.1% | ||