Wednesday, Apr 29, 11:26 GMT
U.S. Trading Newsletter
To Get Started
- Learning Center: New Contents has been released! Chapter 3 of Unit A - Understand the Mechanics. Read it now!
- Webinar Videos: Identifying the weekly fundamental trend of EUR/USD by Javier Paz
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: EUR/USD and USD/CHF Look To Continue DollarWeakness Ahead of GDP by Tim Salem
Dollar weakness continues quietly but consistently as Risk Aversion gives way to Price Corrections in most Markets. The Euro and Swissy are fine Examples to illustrate this, with clear IntraDay trends as we move closer and closer towards the U.S. GDP Data Points.
The Advisor Blog: Majors's sentiment for today by Valeria Bednarik
FX Market Readings: Expected market moves before and after FOMC rate decision by Dr. S. Sivaraman
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
Watch Live Coverage of the US GDP
Expert: Jerry Furst
Start: Wed, Apr 29, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, Apr 29, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Apr 29, 11:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
| Wed, Apr 29, 13:30 GMT | US Session Open  | Ed Ponsi | WBN |  |
| Wed, Apr 29, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN | |
| Wed, Apr 29, 17:30 GMT | Live Coverage of FOMC US Interest Rate Announcement | Jerry Furst | WBN | |
Current Session: Europe − U.S.
GBP/USD: Pound rally reached 1.4795 high
FXstreet.com − The Pound has continued appreciating during the European session. After having bounced at 1.4515 low yesterday, GBP/USD has broken above 24 April high at 1.4770 to reach a fresh intra−week high at 1.4795.
Resistance levels above here lie at 1.4810 (Apr 20 / last week high) and 1.4840/50, above here, 1.4910. On the downside, below 1.4770, support levels stand at 1.4600 and below here, 1.4515 (Apr 28 and 27 low) and 1.4440.
EUR/USD
EUR/USD: Euro reaches day high past 1.3225, after Eurozone confidence data by FXstreet.com
EUR/USD rally from 1.2965 low yesterday extends to levels above 1.3225 resistance after Eurozone economic sentiment data. At the moment the Euro trades at 1.3230.
USD/JPY
Daily Forex News − Flu fears sent the pair tumbling late Monday and early Tuesday by ACM − Advanced Currency Markets
While we are seeing a retracement move from the support at 95.69 yesterday that seems to be over – 5 wave pattern enters A−B−C counter move initial resistance at 96.82 as the focus immediately is to the downside targeting 96.37. A failure to confirm the bearish move would re−test 97.05 and head for 98.17.
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 GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Cons. | Previous | |
| Apr 29 | 12:30 | Gross Domestic Purchases Price Index | 1.8% | 0.5% |
| Apr 29 | 12:30 | Gross Domestic Product Annualized | -5.0% | -6.3% |
The Week Ahead - Real GDP is expected to contract further in 1Q09 by BBVA Bancomer
Real GDP is expected to contract further in 1Q09, but at a slower rate than in 4Q08. Consumption is forecasted to have a negative contribution due to declining employment and household wealth. In addition, non−residential investment will decrease due to sluggish demand, tight credit markets and the global recession.
[ Full Story ]Top Market Movers Review
EMU ECONOMIC CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Apr 29 | 09:00 | Consumer Confidence | -31 | -33 | -34 |
| Apr 29 | 09:00 | Industrial Confidence | -35 | -36 | -38 |
| Apr 29 | 09:00 | Economic Confidence | 67.2 | 65.6 | 64.6 |
DATA SNAP: Euro−Zone Confidence Rebounds From Record Lows (Dow Jones)
Business and consumer confidence in the 16 countries that use the euro improved for the first time in two years in April, rebounding from record lows more strongly than economists had expected.
[ Full Story ]- Read the Confidence data at European Commission
- Forex: EUR/USD: Euro reaches day high past 1.3225, after Eurozone confidence data (FXstreet.com)
- EU Apr Economic Confidence improves to 67.2 (FXstreet.com)
EMU economic indicators - EMU industrial confidence and economic sentiment (April): slightly better by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Apr 29 | 08:00 | EMU | M3 (YoY) (Mar) | 5.1% | 5.7% | 5.9% |
| 09:00 | EMU | Consumer Confidence (Apr) | -31 | -33 | -34 | |
| 09:00 | EMU | Economic Confidence (Apr) | 67.2 | 65.6 | 64.6 | |
| 09:00 | EMU | Industrial Confidence (Apr) | -35 | -36 | -38 | |
| 09:30 | CH | KOF Leading Indicator (Apr) | -1.86 | -1.90 | -1.65 |
|
| 11:00 | US | MBA Mortgage Applications (Apr 24) | -18.1% | 5.3% | ||
| 12:30 | US | Gross Domestic Product Annualized (1Q) | -5.0% | -6.3% | ||
| 12:30 | US | Gross Domestic Purchases Price Index (1Q) | 1.8% | 0.5% | ||
| 14:30 | US | EIA Crude Oil Stocks change | 1.8M | 3.9M | ||
| 18:15 | US | Fed Interest Rate Decision (Apr 29) | 0.25% | 0.25% | ||