Wednesday, Apr 08, 10:57 GMT
U.S. Trading Newsletter
To Get Started
- Join the awesome educational experience brought to you by FXstreet.com team - The Learning Center is a new, serious and refreshing program to learn Forex!
- Webinar Videos: Pitchforks with Fibonacci Retracement by Mark Whistler
- All the events of the day in our Economic Calendar
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.
Forex Blogs
Forex Trading Today: Risk Aversion Returns with a Look at our Old Friends, Gold and Crude Oil by Tim Salem (CVJ)
We have a slight Paradigm Shift in Market Sentiment with the gradual but Marked Strength of the Dollar and the Yen of late... Equities are down globally, so we have seen flight into the "Low−Yielders" of the Dollar and Yen… as Gold and Crude Oil remain Bearish in Sentiment… but largely Range−Bound on the Macro Time−Cycles.
Chartology: How objective is your analysis? A look at chart patterns by Raghee Horner
FX Path: Swing Trading in the Forex Market (Book Excerpt) by James Chen
Find other fellow traders to share your comments and market view in the FOREX FORUM
Sponsored by 
Live Sessions Schedule
Profiting from Fear and Greed by trading against the crowd
Expert: David Rodríguez
Start: Wed, Apr 8, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, Apr 8, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Apr 8, 13:00 GMT | Profiting from Fear and Greed by trading against the crowd | David Rodríguez | WBN | |
| Wed, Apr 8, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
| Wed, Apr 8, 15:00 GMT | Position sizing and money management | John Jagerson | WBN | |
| Wed, Apr 8, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN | |
Current Session: Europe − U.S.
Improvement in Sentiment Short Lived − Dollar Continues to Recover
ACM − Advanced Currency Markets −Earnings season puts risk appetite on hold. Dollar strengthens as continued doubts on the Talf plague markets. The EURUSD's bullish advance (That culminated at 1.3582 on April 6th) has lost much of its steam, consolidating in after hours trading yesterday and failing to break 1.3300. For the time being we see a strong bearish impetus, eyes on 1.3167 as initial support. Further weakness towards 1.3116 would complete skewed double top formation and break for the gallows.
USD/JPY
USD/JPY: Dollar attempts to regain 99.90 level by FXstreet.com
The Dollar seems to be gathering some strength after having dropped to a intra week low at 99.50 on early European session, the pair has walked up some of the ground lost reaching to test 99.90 level, although not being able to break it so far.
GBP/USD
Daily Trading Forecast − Avoid Trading the FOMC Meeting Today by Swiss e Trade AG
The pound is still trading on its support zone around 1.4650 against the dollar and is currently priced at 1.4670 in European morning trading. We do not see much more downside risk in the pair, rather an upmove later today to the 1.4750 resistance level
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
Germany INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Apr 9 | 10:00 | Industrial Production s.a. (MoM) | -2.9% | -7.5% |
| Apr 9 | 10:00 | Industrial Production s.a. w.d.a. (YoY) | -21.7% | -19.3% |
Friday Notes - A further strong decline in industrial production is expected by UniCredit Group
The ongoing massive decline in demand as well as the spike in announcements of short−time work point to a further strong decline in industrial production following the slump in the preceding months. The cold winter weather also argues for a weak reading in February.
[ Full Story ]Top Market Movers Review
Germany FACTORY ORDERS S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 8 | 10:00 | Factory Orders n.s.a. (YoY) | -38.2% | -36.5% | -36.8% |
| Apr 8 | 10:00 | Factory Orders s.a. (MoM) | -3.5% | -2.8% | -6.7% |
DATA SNAP: German Feb Mfg Orders Slump, Adj −3.5% On Mo (Dow Jones)
German manufacturing orders fell more than expected in February, weighed down by a slumping domestic market, data from the Federal Economics Ministry showed Wednesday.
[ Full Story ]- Read the official data at Bundesministerium für Wirtschaft und Technologie
- Germany Factory Orders s.a. decline 3.5% in Feb; −38.5% down on year (FXstreet.com)
Friday Notes - Germany new orders: Unprecedented slump in demand by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 8 | 05:00 | JP | Bank of Japan Monthly Economic Survey (Apr 7) | |||
| 05:00 | JP | Eco Watchers Survey: Current (Mar) | 28.4 | 20.9 | 19.4 | |
| 06:00 | DE | Trade Balance (Feb) | 8.7B | 7.5B | 7.0B |
|
| 09:30 | UK | BRC Shop Price Index (YoY) (Apr 8) | 2.0% | 1.9% | ||
| 10:00 | DE | Factory Orders n.s.a. (YoY) (Feb) | -38.2% | -36.5% | -36.8% |
|
| 10:00 | DE | Factory Orders s.a. (MoM) (Feb) | -3.5% | -2.8% | -6.7% |
|
| 11:00 | US | MBA Mortgage Applications | 3% | |||
| 12:15 | CA | Housing Starts s.a (YoY) (Mar) | 131.0K | 134.6K | ||
| 14:00 | US | Wholesale Inventories (Feb) | -0.6% | -0.7% | ||
| 18:00 | US | FOMC Minutes (Apr 17) | ||||