Wednesday, Jul 01, 11:20 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
Trading for a living: Double floor at the european opening by David Aranzabal
Cable give us this morning a clear pattern, forming a double botton at the asian support, so this is an indication at the Frankfurt opening that the market can reverse (as it does very often at this time). Fist entry opportunity at the double floor.
The advisor Blog: Majors' sentiment for today by Valeria Bednarik
FX Market Readings: EURO and GBP are expected swing with downward stop hunt and rise by Dr. S. Sivaraman
Share your opinions with your fellow traders at FXstreet.com Forum
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Live Sessions Schedule
Main technical theme in the currency market
Expert: Jamie Saettele
Start: Wed, Jul 1, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, Jul 1, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jul 1, 13:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN | |
| Wed, Jul 1, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
| Wed, Jul 1, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN | |
| Wed, Jul 1, 16:00 GMT | Institutional Trading Strategies | Andrei Pehar | WBN | |
Current Session: Europe − U.S.
Forex Remains Sideways; Dollar still shows a mild overbought condition
Swiss e Trade AG − After the drop of consumer confidence for June in the U.S. and Japanese and British economic data showing a similar picture, the fate of the world economy still remains in the dark. No wonder then that Forex markets remain in the old sideways market we've experienced for months. Currently, there is simply no reason to detect some decisive move in the majors against the USD − except the notion that the U.S. will come longer term first out of recession, and suffer inflation first, therefore hurting America's currency.
GBP/USD
Daily Technical Analysis − Attempt small longs at 1.6420 by Mizuho Corporate Bank
The strongest monthly close since September and a quarterly close over 20 cents above the previous one underlines how far Cable has moved in the last 12 months (high 2.0162 and low 1.3500).
EUR/USD
EUR/USD gone back where they were before and that is neutral position, no trend yet by Forex−Trends.com
Bulls were not able to keep up their strength and they had to surrender against bears by sharp move down. For now we might expect to see another...
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 ADP EMPLOYMENT CHANGE
| Date (GMT) | Event | Cons. | Previous | |
| Jul 1 | 12:15 | ADP Employment Change | -388K | -532K |
US: Preview of June Unemployment by Easy Forex
[ Full Story ]Start the Day - A very slow recovery means rates could stay close to zero for years by Mizuho Corporate Bank
Forex Trading Strategies - Dovish comments from Fed's Yellen put the brakes on the dollar's rebound by Saxo Bank
US ISM MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Jul 1 | 14:00 | ISM Manufacturing | 46.8 | 42.8 |
US: ISM preview, June by Danske Bank A/S
The US ISM manufacturing index breached the 42 level in May, indicating that the overall economy is now expanding again. The details strongly suggest that the ISM will move higher in the coming months The New Orders index increased to 51.1 indicating that order growth is back in the black and the balance between inventories and new orders is signalling a very bullish trend for the ISM.
[ Full Story ]Fundamental Forex Foundations - Institute for Supply Management (ISM) Manufacturing by FXstreet.com Independent Analyst Team
Forex Trading Strategies - Dovish comments from Fed's Yellen put the brakes on the dollar's rebound by Saxo Bank
Top Market Movers Review
UK PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 1 | 08:30 | Purchasing Manager Index Manufacturing | 47.0 | 46.4 | 45.4 |
DATA SNAP: UK Jun Mfg PMI 47.0 Vs 45.4 In May (Dow Jones)
[ Full Story ]- UPDATE: UK Jun PMI Signals Economy Recovering From Dire 1Q (Dow Jones)
- UK Manufacturing PMI up to 47 in Jun from 45.4 (FXstreet.com)
Forex Trading Strategies - Dovish comments from Fed's Yellen put the brakes on the dollar's rebound by Saxo Bank
EMU economic indicators - PMI: Likely unchanged by BHF−Bank
Friday Notes - UK, PMI: The worst is behind us by UniCredit Group
EMU PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 1 | 08:00 | Purchasing Manager Index Manufacturing | 42.6 | 42.4 | 40.7 |
DATA SNAP: Euro−Zone Manufacturing Contraction Slows In June (Dow Jones)
[ Full Story ]- Markit Economics homepage
- UPDATE: Euro−Zone Manufacturing Decline Slows Further In June (Dow Jones)
- Euro Zone Manufacturing PMI increases to 42.6 in Jun from 40.7 (FXstreet.com)
EMEA Daily - Today, June's PMI due for release across the region by Danske Bank A/S
Forex Trading Strategies - Dovish comments from Fed's Yellen put the brakes on the dollar's rebound by Saxo Bank
EMU economic indicators - PMI: Likely unchanged by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 1 | 07:30 | CH | SVME − Purchasing Managers' Index (Jul) | 41.8 | 41.0 | 39.8 |
| 07:55 | DE | Purchasing Manager Index Manufacturing (Jun) | 40.9 | 40.5 | 39.6 | |
| 08:00 | EMU | Purchasing Manager Index Manufacturing (Jun) | 42.6 | 42.4 | 40.7 | |
| 08:30 | UK | Index of Services (Apr) | -0.1% | 0.2% | -1.2% | |
| 08:30 | UK | Purchasing Manager Index Manufacturing (Jun) | 47.0 | 46.4 | 45.4 | |
| 11:00 | US | MBA Mortgage Applications (Jun 26) | -4.5% | 6.6% | ||
| 12:15 | US | ADP Employment Change (Jun) | -388K | -532K | ||
| 14:00 | US | Construction Spending (MoM) (May) | -0.5% | 0.8% | ||
| 14:00 | US | ISM Manufacturing (Jun) | 46.8 | 42.8 | ||
| 14:00 | US | Pending Home Sales (MoM) (May) | 0.7% | 6.7% | ||
Educational Resources
Non−Farm Payrolls Data is the most influential Data Point Figure released for ALL Financial Markets… due to the actual Numbers, Volatility, and Expectation. The Data is released by The Bureau of Labor Statistics every first Friday of the Month at approximately 12:30 GMT. Reactions to the Initial Release of NFP can cause deep Volatility as Sentiment and Expectation is measured in Real−Time
Related Resources
Register here for Trade Non-Farm Payrolls LIVE - 38th Edition Live session on Thu, Jul 2 2009 at 11:30 GMT
Live Coverage of this month's NFP with Nick Nasad from the Homepage of FXstreet.com: Thursday 2nd July at at 11:15 GMT - 07:15 EDT
Other Tim Salem's Reports on Fundamental Forex Foundations Report