Wednesday, Feb 04, 12:07 GMT
U.S. Trading Newsletter
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- All the events of the day in our Economic Calendar
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Forex Blogs
The Advisor Blog: Eur/Usd 4 hours charts by Valeria Bednarik
Take a look at this chart: the pair has reached almost the roof of the big descendant channel we have been seeing lately, and from there quickly come back. Fighting to break under 1.2900, indicators are pointing to the downside, yet the pair will have to clearly break the 20 SMA (red in charts) around 1.2860 top continue in that direction.
Forex Trading Today: Aussie Fails To Push Through... The Culprit Here? by Tim Salem
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Live Sessions Schedule
Main technical theme in the currency market
Expert: Jamie Saettele
Start: Wed, Feb 4, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, Feb 4, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Feb 4, 13:00 GMT | The FX and Equity Markets  | Adam Rosen | WBN |  |
| Wed, Feb 4, 14:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN | |
| Wed, Feb 4, 15:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN | |
| Wed, Feb 4, 16:00 GMT | Institutional Trading Strategies | Andrei Pehar | WBN | |
Current Session: Europe − U.S.
Euro Gaining Strength Ahead of ECB Rate Decision
Swiss e Trade AG − The pair is in a downward correction in European morning trading and is currently trading at 1.2955. We see the market finding support around 1.2900 today and expect another upmove later, which will be limited to resistance at 1.3040, the upper end of the new sideways trend channel
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Daily FX Report − EUR/GBP Rally losses steam by Varengold Wertpapierhandelsbank AG
The EUR/GBP has been trading in a bullish trend since the end of October. It lost with the beginning of 2009 much of its power and fell to its support at 0.8812. While this support is holding it seems that the currency pair could test the resistance at 0.9063.
Daily Forex News − Risk appetite and general sentiment improves by ACM − Advanced Currency Markets
The swissy has risen steadily recently, the strong bullish trend that took us from 1.0892 to 1.1720 during the month of February sees multiple support levels. 1.1099 is a very strong level we tested 4 times last month before the pair moved higher, the next key level stands at 1.1315.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US ISM NON−MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Feb 4 | 15:00 | ISM Non−Manufacturing | 39.1 | 40.1 |
US economic indicators - ISM indices (January): still at recessionary levels by BHF−Bank
The ISM is already at a very low level, as the expansion threshold for manufacturing is 50, and index levels below 41 are in line with a recession in the overall economy. The ISM nonmanufacturing index rose by 2.7 points in December, but we expect it to have fallen back to 38.0 in January, narrowing the gap to its manufacturing counterpart.
[ Full Story ]Top Market Movers Review
EMU RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 4 | 10:00 | Retail Sales (YoY) | -1.6% | -1.4% | -2.6% |
| Feb 4 | 10:00 | Retail Sales (MoM) | 0.0% | -0.2% | -0.1% |
DATA SNAP:Euro−Zone Dec Retail Sales Flat On Mo, −1.6% On Yr (Dow Jones)
Euro−zone retail sales held steady in December but were weaker than expected on the year as rising unemployment and the recession weighed on consumer spending in the single currency bloc, data from European Union statistics agency Eurostat showed Wednesday.
[ Full Story ]- Read the Retail Sales data at Eurostat
- UPDATE: Euro−Zone Dec Retail Sales Flat On Mo, −1.6% On Yr (Dow Jones)
- INSTANT VIEW 6−Euro zone Dec retail sales fall y/y (Thomson Financial News)
- INSTANT VIEW 5−Euro zone Dec retail sales fall y/y (Thomson Financial News)
EMU PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 4 | 09:00 | Purchasing Manager Index Services | 42.2 | 42.5 | 42.1 |
Euro Zone services PMI remains into contraction levels in January (FXstreet.com)
Business activity in the Euro Zone's services sector has remained practically unchanged in January, that is contracting for the seventh consecutive month, according to the Services Purchasing Managers Index.
[ Full Story ]- Markit Economics homepage
- UPDATE 1−Speed of euro zone services downturn slows (Thomson Financial News)
- INSTANT VIEW 8−Markit Eurozone services PMI for Jan at 42.2 (Thomson Financial News)
- INSTANT VIEW 7−Markit Eurozone services PMI for Jan at 42.2 (Thomson Financial News)
EMU economic indicators - PMIs: Possibly unchanged by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 4 | 09:00 | EMU | Purchasing Manager Index Services (Jan) | 42.2 | 42.5 | 42.1 |
| 09:30 | UK | Purchasing Manager Index Services (Jan) | 42.5 | 40.3 | 40.2 | |
| 10:00 | EMU | Retail Sales (MoM) (Dec) | 0.0% | -0.2% | -0.1% |
|
| 10:00 | EMU | Retail Sales (YoY) (Dec) | -1.6% | -1.4% | -2.6% |
|
| 10:30 | UK | BRC Shop Price Index (YoY) (Jan) | 1.1% | 0.5% | ||
| 12:00 | US | MBA Mortgage Applications (Jan 30) | 8.6% | -38.8% | ||
| 13:15 | US | ADP Employment Change (Jan) | -525K | -693K | ||
| 15:00 | US | ISM Non−Manufacturing (Jan) | 39.1 | 40.1 |
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| 15:30 | US | EIA Crude Oil Stocks change (Jan 30) | 6.2M | |||
| 21:45 | NZ | Unemployment Rate (4Q) | 4.6% | 4.2% | ||