Thursday, Jul 03, 10:57 GMT
U.S. Trading Newsletter
The Forex Game: Win a Sony Vaio
The Dollar is bearish, but the Duellar is bullish. Play on real charts: Challenge fellow traders, snatch their duellars and win a SONY VAIO!.Sponsored by:
To Get Started
- Webinar Videos: MONTHLY WEBINAR - Understanding The Creation Of Candles In Forex Trading by Sam Seiden
- The Advisor Weblog: Starting the day by Valeria Bednarik
- FX Path: USD/CHF Wednesday Evening (NY) Video Update by James Chen
- Central Banks: ECB − Preview of Jul 3 Meeting by FXstreet.com
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Live Sessions Schedule
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 26th Edition
Expert: Wayne McDonell
Start: Thu, Jul 3, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jul 3, 11:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 26th Edition | Wayne McDonell | WBN | |
| Fri, Jul 4, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN |  |
| Fri, Jul 4, 12:00 GMT | How To Backtest a Trading System | Valeria Bednarik | WBN |  |
| Fri, Jul 4, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
Current Session: Europe − U.S.
EUR/USD
Daily Trading Forecast − The Calm before the Storm by Swiss e Trade AG
The EUR / USD has maintained a very strong bid tone through Asian trading and is currently trading at 1.5885. The market is waiting for a planned increase of 0.25% from the ECB today and the U.S. non−farm payroll report. There is a chance that the EUR / USD may sell off after the ECB rate decision due to market talk we have heard about "buy on rumor, sell on fact."
- The Advisor Weblog by Valeria Bednarik, Analyst at MolFX − Management
- The Forex Game: Stop Losing Dollars... Win Duellars!
- Longer−term Support and Resistance Trading: Setups and Rules Rob Booker, Founder and Host TraderRadio.net
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Currency Speculations − July 3, 2008 by Mihai Nichisoiu
Daily Forex News − Forex − Dollar dropped after ADP report ahead of early US jobs release by ACM − Advanced Currency Markets
Banks' Analysis
Forex Trading Strategies − EURUSD has nudged to new two−month highs ahead of huge event risks by Saxo Bank
Technical analysis: Euribor Futures − Euribor – December 2008 by Mizuho Corporate Bank
Currency Performance
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
FX Analysts' Comments
Starting the day by Valeria Bednarik, Analyst at MolFX − Management
Majors at a Glance
- EUR/USD
- Trades above pivot level 1.5849
07/03/2008 10:24 GMT - GBP/USD
- Moves down below pivot level 1.9915
07/03/2008 10:24 GMT - USD/CHF
- Trades around opening price level 1.0140 , below pivot level 1.0167
07/03/2008 10:24 GMT - USD/JPY
- Trades below pivot level 106.14
07/03/2008 10:24 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
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Jul 3 | 11:45 | ECB Interest Rate Decision | 4.25% | 4.00% |
Central Banks: ECB - Preview of Jul 3 Meeting by FXstreet.com
The ECB is expected to raise its main interest rate by 25 basis points for the first time since June 2007 in order to dampen inflation in the Euro Area, which is growing at levels well above the upper limit of ECB's margin for price stability.
[ Full Story ]- European govt bonds lower ahead of expected ECB rate hike (Thomson Financial News)
- RWI research institute urges ECB to raise interest rates on Thursday (Thomson Financial News)
Central European Daily - ECB rate hike may weigh on regional sentiment by KBC Bank
Daily Forex Technical Report − The Day Finally Comes, ECB and NFP Watched by ActionForex.com
Top Market Movers Review
EMU RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 3 | 09:00 | Retail Sales (YoY) | 0.2% | -0.7% | -3.0% |
| Jul 3 | 09:00 | Retail Sales (MoM) | 1.2% | 0.5% | -0.6% |
DATA SNAP: Euro−Zone Retail Sales Rebound In May, +1.2% MM (Dow Jones)
−Euro−zone retail sales rebounded more strongly than expected in May, as sales of nonfood items caused the measure to rise after a record drop on the year in April.
[ Full Story ]- Read the Retail Sales data at Eurostat
- UPDATE: Euro−Zone May Retail Sales Up But Trend Points Down (Dow Jones)
- Euro Zone retail sales grow above expectations in May (FXstreet.com)
- EU Retail Sales rise 1.2% in May; 0.2% up year on year (FXstreet.com)
EMU PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 3 | 08:00 | Purchasing Manager Index Services | 49.1 | 49.5 | 50.6 |
Euro−Zone Jun Services PMI 49.1 Vs 50.6 In May − Sources (Dow Jones)
The euro zone's dominant service sector contracted in June, as service providers in Italy, Spain and Ireland reported waning output.
[ Full Story ]- NTC Economics homepage
- Euro zone June services PMI revised to 49.1, weakest since June 2003 − sources (Thomson Financial News)
- Euro Zone's services PMI falls into contraction levels in June (FXstreet.com)
- EU Purchasing Manager Index Services down to 49.1 in Jun vs 50.6 in may (FXstreet.com)
EMU economic indicators - The flash estimate for June could show EMU inflation increasing to 3.9 % yoy by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 3 | 07:55 | DE | Purchasing Manager Index Services (Jun) | 52.1 | 53.3 | 53.8 |
| 08:00 | EMU | Purchasing Manager Index Services (Jun) | 49.1 | 49.5 | 50.6 | |
| 08:00 | SE | Riksbank Interest Rate Decision | 4.50% | 4.25% | ||
| 08:30 | UK | Purchasing Manager Index Services (Jun) | 47.1 | 49.5 | 49.8 | |
| 09:00 | EMU | Retail Sales (MoM) (May) | 1.2% | 0.5% | -0.6% | |
| 09:00 | EMU | Retail Sales (YoY) (May) | 0.2% | -0.7% | -3.0% |
|
| 11:45 | EMU | ECB Interest Rate Decision | 4.25% | 4.00% | ||
| 12:30 | US | Average Hourly Earnings (MoM) (Jun) | 0.3% | 0.3% | ||
| 12:30 | US | Average Hourly Earnings (YoY) (Jun) | 3.5% | |||
| 12:30 | US | Average Weekly Hours (Jun) | 33.7 | 33.7 | ||