Wednesday, Apr 23, 10:58 GMT
U.S. Trading Newsletter
To Get Started
- Webinar Videos: Determine Best Studies To Use In Establishing Trend Following Trading System by Don Wilcox
- Keep your eyes on EUR/USD movements today
- Forex Video: News Trade Alert by Wayne McDonell
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
Main Fundamental theme in the Currency market
Expert: Kathy Lien
Start: Wed, Apr 23, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Stocks for currency traders
Expert: John Jagerson
Start: Wed, Apr 23, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Apr 23, 11:00 GMT | Common Break−Out Strategies  | Adam Rosen | WBN |  |
| Wed, Apr 23, 13:00 GMT | Main Fundamental theme in the Currency market | Kathy Lien | WBN | |
| Wed, Apr 23, 14:00 GMT | Stocks for currency traders | John Jagerson | WBN | |
| Wed, Apr 23, 15:00 GMT | Institutional Trading Strategies | Andrei Pehar | WBN | |
Current Session: Europe − U.S.
EUR/JPY
FXA Column − Eur/yen, potentially important top near? by FXA
No change in the view in eur/yen as the market continues to chop in tighter and tighter ranges since the July 2007 high at 168.95. Appear to be forming a large pennant/triangle over that time, generally considered to be "continuation" pattern, and suggesting an eventual upside resolution. However, these patterns break down into 5 legs and argues a final test of the base of the pattern first (within wave 5, see numbering on daily chart below).
- Longer−term Support and Resistance Trading: Setups and Rules by Rob Booker, Currency Analyst Piptopia
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Other Topics for this Session:
Daily FX Report − EUR above 1.60 by Varengold Wertpapierhandelsbank AG
Currency Performance
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
Majors at a Glance
- EUR/USD
- Trades above pivot level 1.5948
04/23/2008 10:05 GMT - GBP/USD
- Moves down below pivot level 1.9898
04/23/2008 10:06 GMT - USD/CHF
- Moves up above pivot level 1.0053
04/23/2008 10:06 GMT - USD/JPY
- Trades around pivot level 103.08
04/23/2008 10:07 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, 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 EIA CRUDE OIL STOCKS CHANGE
| Date (GMT) | Event | Cons. | Previous | |
| Apr 23 | 14:30 | EIA Crude Oil Stocks change | - | -2.3M |
OUTLOOK U.S. crude stocks seen up, products down in week to April 18 − poll (Thomson Financial News)
US crude oil stocks are expected to have risen last week, but inventories of products such as gasoline and distillates are seen falling, according to analysts polled by Thomson Financial News.
[ Full Story ]- Ahead of the Bell: Oil inventory report (Thomson Financial News)
Top Market Movers Review
EMU INDUSTRIAL NEW ORDERS S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 23 | 09:00 | Industrial New Orders (YoY) | 9.9% | 5.7% | 7.3% |
| Apr 23 | 09:00 | Industrial New Orders s.a. (MoM) | 0.6% | -0.4% | 2.0% |
Euro Zone industrial new orders well above expectations in February (FXstreet.com)
Good news for the Euro Zone industrial sector, as new orders have beaten expectations in February, boosted ships, railway and aerospace equipment according to figures released by Eurostat.
[ Full Story ]- Read the report: Industrial new orders up by 0.6% in euro area at Eurostat
- Euro zone Feb industrial orders up 0.6 pct vs Jan, up 9.9 pct year−on−year (Thomson Financial News)
- EU Industrial New Orders s.a. rise 0.6% in Feb; 9.9% up year on year (FXstreet.com)
EMU economic indicators - M3 growth probably slowed down to 10.3% yoy in March by BHF−Bank
UK BANK OF ENGLAND MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 23 | 08:30 | Bank of England Minutes | - | - | - |
BoE MPC split 3 ways on April 10, with Sentance/Besley voting for rates on hold (Thomson Financial News)
The Bank of England's rate−setting body was split three ways for the first time in nearly two years at its meeting on April 10 when the benchmark Bank Rate was reduced a quarter point to 5.00 percent.
[ Full Story ]- Read the MPC Minutes at BoE
- UK growth prospects weaken but price pressures remain − BoE agents' survey (Thomson Financial News)
- UPDATE: Bank Of England In Three−way Split Over April 10 Rate Cut (Dow Jones)
- Forex − Pound rises after BoE minutes reveal two votes for rates to stay on hold (Thomson Financial News)
EMU PMI MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 23 | 08:00 | Purchasing Manager Index Services | 51.8 | 51.4 | 51.6 |
| Apr 23 | 08:00 | PMI Manufacturing | 50.8 | 51.6 | 52.0 |
Euro Zone manufacturing activity, close to contraction in April (FXstreet.com)
Euro Zone's manufacturing activity's growth has decreased to levels close to contraction in April, while services sector's activity accelerated slightly according to the latest Purchasing Manager's Index flash estimates.
[ Full Story ]- NTC Economics homepage
- UPDATE: Euro Little Changed As PMI Posts Surprise Rise (Dow Jones)
- Euro zone 'flash' April PMI up for services but manufacturing weakens UPDATE (Thomson Financial News)
- Forex − Euro steady after mixed PMI data; Pound weaker ahead of BoE minutes (Thomson Financial News)
EMU economic indicators - M3 growth probably slowed down to 10.3% yoy in March by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 23 | 08:00 | EMU | PMI Manufacturing (Apr)  | 50.8 | 51.6 | 52.0 |
| 08:00 | EMU | Purchasing Manager Index Services (Apr) | 51.8 | 51.4 | 51.6 | |
| 08:30 | UK | Bank of England Minutes (Apr 10) | ||||
| 08:30 | UK | BBA Mortgage Approvals (Mar) | 35.4K | 43.1K |
||
| 09:00 | EMU | Industrial New Orders (YoY) (Feb) | 9.9% | 5.7% | 7.3% | |
| 09:00 | EMU | Industrial New Orders s.a. (MoM) (Feb) | 0.6% | -0.4% | 2.0% | |
| 11:00 | US | MBA Mortgage Applications (Apr 18) | 2.5% | |||
| 12:30 | CA | Retail Sales (MoM) (Feb) | 0.3% | 1.5% | ||
| 12:30 | CA | Retail Sales ex Autos (MoM) (Feb) | 0.5% | 1.3% | ||
| 14:30 | US | EIA Crude Oil Stocks change (Apr 19) | -2.3M | |||