Friday, Apr 24, 11:11 GMT
U.S. Trading Newsletter
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- Learning Center: New Contents has been released! Chapter 3 of Unit A - Understand the Mechanics. Read it now!
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- All the events of the day in our Economic Calendar
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Forex Blogs
Trading for a living: HD Video review. London Open 24/04/2009 by David Aranzabal
IFO day in Eur. We just wait to the price to confirm the direction and we ended up with a nice session, dealing with the news release at the same time. We are in 2 or 3 days of uptrend, MACD very healthy at the Frankfurt open but close to the 61% retracement from the previous leg down, so we were suspicious because the retracement to the down side was possible.
FX Market Readings: Week end expected moves by Dr.S. Sivaraman
Forex Trading Today: EUR/USD Finds Consistent Gains Following Near-Term Break by Tim Salem
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FX Market Pulse
Expert: Raghee Horner
Start: Fri, Apr 24, 13:00 GMT
Type of Session: Webinar
Forex Basics Series: Chapter 3 − Technical figures
Expert: Valeria Bednarik
Start: Fri, Apr 24, 14:00 GMT
Type of Session: Webinar
Topics
− Tips for trading with figures
− How to understand them
− Different kinds of figures
| Sponsored by | ||||
| Fri, Apr 24, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Fri, Apr 24, 13:00 GMT | FX Market Pulse | Raghee Horner | WBN |  |
| Fri, Apr 24, 14:00 GMT | Forex Basics Series: Chapter 3 − Technical figures | Valeria Bednarik | WBN | |
| Mon, Apr 27, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN | |
Current Session: Europe − U.S.
Dollar weakens as stress test prelims have markets on edge
ACM − Advanced Currency Markets − Previous resistance becomes initial support (1.3201 – 23.6% fib level) as the dollar strength wanes. Strong support at today's high of 1.3273 however a strong move above this would focus 1.3424 – which is a crucial level at which the pair would break from the current broad bearish trend mentioned numerous times.
GBP/USD
GBP/USD: Cable lost its upward momentum in early European trading by Swiss e Trade AG
In contrast to the euro development against dollar, cable lost its upward momentum in early European trading, falling back from highs around 1.4740 to the current 1.4640.
GBP/CAD
Forex: USD/JPY: Dollar might fall to 93.50, says Mizuho by FXstreet.com
Dollar weakness has driven the pair to a new two−weeks low at 96.65 from 98.50 level on yesterday's U.S. session, breaking below the upward trending support line from 87.00 low on Jan 21
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 NEW HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Apr 24 | 14:00 | New Home Sales | 340K | 337K |
| Apr 24 | 14:00 | New Home Sales (MoM) | 0.9% | 4.7% |
US economic indicators - Existing and new home sales (Mar): falling despite boost from foreclosures by BHF−Bank
New home sales also rose significantly by 4.7% mom in February, as the downward trend in median prices has made purchasing a house more affordable. However, sales were still down 41% from a year ago. We forecast that new home sales will have stabilised around their current level of 337k in March.
[ Full Story ]Top Market Movers Review
UK RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 24 | 08:30 | Retail Sales (YoY) | 1.5% | 1.7% | 0.4% |
| Apr 24 | 08:30 | Retail Sales (MoM) | 0.3% | 0.3% | -2.0% |
DATA SNAP: UK March Retail Sales +0.3% On Mo; +1.5% On Yr (Dow Jones)
U.K. retail sales ticked up in March in line with expectations, as consumers continued to show resilience in the face of deepening recession, the Office for National Statistics said Friday.
[ Full Story ]- Read the Retail Sales data at UK Statistics
- UPDATE: UK March Retail Sales Show Resilience (Dow Jones)
- UK Mar Retail Sales increase 0.3%, +1.5% YoY (FXstreet.com)
Germany IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 24 | 08:00 | IFO − Business Climate | 83.7 | 82.3 | 82.1 |
| Apr 24 | 08:00 | IFO − Expectations | 83.9 | 82.6 | 81.6 |
DATA SNAP: German Ifo Business Climate Above Forecasts (Dow Jones)
German business confidence improved at the start of the second quarter, after hitting a record low in March, indicating that the worst of the economic slump may soon be over, a survey from the German Ifo Institute showed Friday.
[ Full Story ]- Read full Survey at Ifo Institute
- 2nd UPDATE: German Ifo Business Climate Above Forecasts (Dow Jones)
- UPDATE: German Ifo Business Climate Above Forecasts (Dow Jones)
- EUR/USD: Euro rises to 1.3262 after Ifo data, beware correction (FXstreet.com)
EMU economic indicators - German ifo business climate (April): down by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 24 | 08:00 | DE | IFO − Business Climate (Apr) | 83.7 | 82.3 | 82.1 |
| 08:30 | UK | Gross Domestic Product (QoQ) (1Q) | -1.9% | -1.5% | -1.6% | |
| 08:30 | UK | Gross Domestic Product (YoY) (1Q) | -4.1% | -3.8% | -2.0% | |
| 08:30 | UK | Index of Services (Feb) | -1.2% | -1.2% | -1.3% | |
| 08:30 | UK | Retail Sales (MoM) (Mar) | 0.3% | 0.3% | -2.0% |
|
| 08:30 | UK | Retail Sales (YoY) (Mar) | 1.5% | 1.7% | 0.4% | |
| 12:30 | US | Durable Goods Orders (Mar) | -1.4% | 3.4% | ||
| 12:30 | US | Durable Goods Orders ex Transportation (Mar) | -0.8% | 3.9% | ||
| 14:00 | US | New Home Sales (Mar) | 340K | 337K | ||
| 14:00 | US | New Home Sales (MoM) (Mar) | 0.9% | 4.7% | ||