Wednesday, Sep 03, 11:08 GMT
U.S. Trading Newsletter
LAST CAL OFFER: Only 550€ for the ITC
International Traders Conference 2008 − October 29−31
This year's topics are Trading Psychology, Emerging Markets Currencies, Hidden Divergence, Risk Management, Range Trading, Support and Resistance, Break Out Trading Strategies and Sentiment Indicators.
And there will be 3 LIVE TRADING sessions coached by our guest speakers!
Book now your seat for the ITC 2008 and Enjoy our LAST CALL OFFER: 550 €
- Speeches Schedule
- Speakers Panel
- Haven't you decided to go yet? − View all 2007 videos
Forex Blogs
Recommended Readings
FX Market Readings: Where can be the support? by Dr. S. Sivaraman
EURO and GBP have again broken every close by supports and appear there is no end to the drop.The players are making such moves as they know traders are not taking much positions and those holding pending positions are alone worried about the market drop and try to manage the equity with great stress.
The Advisor Blog: Gbp/Usd and the eternal fall by Valeria Bednarik
Chartology: My "Lazy Days" Support, Resistance, and Trend Lines by Raghee Horner
Live Sessions Schedule
Main technical theme in the currency market
Expert: Jamie Saettele
Start: Wed, Sep 3, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
How to profit in today's globalization 3.0 credit bubble economy
Expert: John W. O'Donnell
Start: Wed, Sep 3, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Sep 3, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Sep 3, 13:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN | |
| Wed, Sep 3, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Wed, Sep 3, 15:00 GMT | Institutional Trading Strategies | Andrei Pehar | WBN | |
Current Session: Europe − U.S.
EUR/USD
Daily Trading Forecast − Not So Fast, Greenback by Swiss e Trade AG
Early European trading hours saw the dollar cantering along amidst frenzied talks about the new bull market for the U.S. currency.
The EUR / USD, heading south again in early European trading, entered deep oversold levels already. Currently trading at 1.4400, we see an upward correction to the 1.4430 resistance level where we are sellers in today's trading, with a target of 1.4330 and a stop at 1.4475.
- Eur/Usd technical view by Valeria Bednarik, analyst and foreign manager at MolFX − Management
- Institutional Trading Strategies by John Jagerson, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Daily Forex News − Forex − Dollar rose boosted by Oil sharp drop by ACM − Advanced Currency Markets
Daily Analysis − Cable lowest in 2 1/2 years by Finotec Group Inc.
Majors at a Glance
- EUR/USD
- Continues to move down towards second support level 1.4383
09/03/2008 09:54 GMT - GBP/USD
- Continues to move down towards second support level 1.7643
09/03/2008 09:55 GMT - USD/CHF
- Continues to move up towards second resistant level 1.1188
09/03/2008 09:55 GMT - USD/JPY
- Trades around pivot level 108.55
09/03/2008 09:56 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
Canada BOC INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Sep 3 | 13:00 | BoC Interest Rate Decision | 3% | 3% |
Trading News Report - Canadian GDP May Sink The Loonie? by FXCM
Although the BoC was hawkish following its last rate decision, expectations are that they will leave their benchmark rate in hold as easing oil prices have reduced price pressures. Therefore, a weaker than expected growth number will decrease interest rate expectations.
[ Full Story ]Top Market Movers Review
EMU GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 3 | 09:00 | Gross Domestic Product s.a. (QoQ) | -0.2% | -0.2% | 0.7% |
| Sep 3 | 09:00 | Gross Domestic Product s.a. (YoY) | 1.4% | 1.5% | 2.1% |
DATA SNAP: Euro Zone 2Q GDP Revised Down On Yr To +1.4% (Dow Jones)
The euro−zone economy grew at the slowest year−on−year pace in almost five years in the second quarter of 2008, while it was also confirmed that the area's quarterly performance was the weakest since records began.
[ Full Story ]- Read the GDP data at Eurostat
- UPDATE: Euro Zone 2Q GDP Revised Down; No Rebound Seen In 3Q (Dow Jones)
- Euro zone economy contracts in Q2, consumption weak (Thomson Financial News)
- Euro Zone GDP shrank in the second Quarter for the first time since 1995 (FXstreet.com)
EMU economic indicators - Q2 EMU GDP is not expected to be revised significantly by BHF−Bank
EMU RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 3 | 09:00 | Retail Sales (MoM) | -0.4% | -0.1% | -0.9% |
| Sep 3 | 09:00 | Retail Sales (YoY) | -2.8% | -2.1% | -3.2% |
Euro Zone retail sales, weaker than expected in July (FXstreet.com)
Retail sales volume has declined in the Euro Area more than expected in July, which shows that consumption will fail to support economic growth in the third quarter, according to data released by Eurostat.
[ Full Story ]- Read the Retail Sales data at Eurostat
- TABLE−Euro zone July retail sales down by 0.4 pct m/m (Thomson Financial News)
- EU Retail Sales fall 0.4% in Jul; 2.8% down year on year (FXstreet.com)
UK PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 3 | 08:30 | Purchasing Manager Index Services | 49.2 | 47.0 | 47.4 |
POLL−UK service sector pace of contraction eases in Aug−CIPS (Thomson Financial News)
Britain's dominant services sector shrank in August for the fourth straight month, a survey showed on Wednesday, although signs of weakness were much less pronounced than expected.
[ Full Story ]- NTC Economics homepage
- CIPS homepage
- UPDATE 1−UK service sector pace of contraction eases in Aug (Thomson Financial News)
- Sterling Continues Slide Despite Better−Than−Expected Data (Dow Jones)
- UPDATE: UK August Services PMI 49.2 Vs 47.4 In July (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 3 | 09:00 | EMU | Gross Domestic Product s.a. (QoQ) (2Q)  | -0.2% | -0.2% | 0.7% |
| 09:00 | EMU | Gross Domestic Product s.a. (YoY) (2Q) | 1.4% | 1.5% | 2.1% | |
| 09:00 | EMU | Retail Sales (MoM) (Jul) | -0.4% | -0.1% | -0.9% |
|
| 09:00 | EMU | Retail Sales (YoY) (Jul) | -2.8% | -2.1% | -3.2% |
|
| 09:30 | UK | BRC Shop Price Index (YoY) (Aug) | 3.8% | 3.3% | 3.2% | |
| 11:00 | US | MBA Mortgage Applications (Aug 29) | 7.5% | 0.5% | ||
| 13:00 | CA | BoC Interest Rate Decision | 3% | 3% | ||
| 14:00 | US | Factory Orders (Jul) | 0.7% | 1.7% | ||
| 18:00 | US | Fed's Beige Book | ||||
| Sep 4 | 01:30 | AU | Trade Balance (Jul) | 100M | 411M | |