Wednesday, Jul 08, 10:57 GMT
U.S. Trading Newsletter
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Forex Blogs
The Trader's Edge: Continued EUR/USD downward pressure? by Ross Yamashita
Not so quickly. Our short term analysis shows that we may have potentially reached (or will reach soon) a short−term bottom and head back up to test the 1.3950 area. If it breaks above that point, look for it to potentially test the high from yesterday (7/7/09) − although, this will not happen in one session.
The advisor Blog: Starting the day by Valeria Bednarik
Forex Trading Today: The Yen Continues As Our Risk Aversion Leader With Conviction by Tim Salem
Sponsored by 
Live Sessions Schedule
Profiting from Fear and Greed by trading against the crowd
Expert: David Rodríguez
Start: Wed, Jul 8, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, Jul 8, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jul 8, 13:00 GMT | Profiting from Fear and Greed by trading against the crowd | David Rodríguez | WBN | |
| Wed, Jul 8, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
| Wed, Jul 8, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN | |
| Wed, Jul 8, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
Current Session: Europe − U.S.
G−8 Summit Could Change Things This Time
Swiss e Trade − Although the G−summits usually do not have much influence on Forex, this one, with the G−8 held in Italy, could have an impact on the USD's performance. Preliminary statements stressed the necessity for new financial regulations and the continuity of monetary and fiscal support, especially in Europe. For the market, that would mean that the quantitative monetary expansion is far from over in Europe, in contrast to the U.S., where the same thing is near an end. So the money flow could turn again in favor of the euro, lured by future capital gains in the European bond market. Right now, the dollar is on the winning side, though, profiting from the uncertainty in the stock markets.
GBP/USD
The GBP declined against the USD for the fourth day in a row by Varengold Bank
The GBP declined against the USD for the fourth day in a row, its longest run since April on concern that the Bank of England will expand its asset−purchase program to revive the economy.
Stocks
Yen advances on economic recovery concern by FXstreet.com
Stocks market in Europe are falling today's Wednesday session on speculation earnings reports will show that economy is far from recovery. Yen is appreciating as currency reserve.
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 CONSUMER CREDIT
| Date (GMT) | Event | Cons. | Previous | |
| Jul 8 | 19:00 | Consumer Credit | -$10.0B | -$15.7B |
US economic indicators - Consumer credit will have gone down markedly again by about $12bn in May by BHF−Bank
Consumer credit fell by almost $15bn on average in the last three months, as consumers are deleveraging and banks are still tightening credit conditions. Furthermore, as personal income is rising significantly because of fiscal measures, there is less need to pile on debt at present. We therefore predict that consumer credit will have gone down markedly again by about $12bn in May.
[ Full Story ]Forex Trading Strategies - Markets desperately searching for direction by Saxo Bank
Top Market Movers Review
Germany INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 8 | 10:00 | Industrial Production s.a. w.d.a. (YoY) | -17.9% | -20.0% | -22.3% |
| Jul 8 | 10:00 | Industrial Production s.a. (MoM) | 3.7% | 0.6% | -2.6% |
DATA SNAP: German Industrial Output Rebounds Sharply In May (Dow Jones)
[ Full Story ]- Read the Industrial Production data at BMWi [text in German]
- Germany May Industrial Production up 3.7% MoM, down 17.9% YoY (FXstreet.com)
Forex Trading Strategies - Markets desperately searching for direction by Saxo Bank
EMU economic indicators - Output in the German producing sector (May): down by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 8 | 00:00 | G8 Meeting | ||||
| 08:00 | UK | Halifax House Prices (MoM) | -0.5% | -0.5% | 2.6% | |
| 09:00 | EMU | Gross Domestic Product s.a. (QoQ) (1Q) | -2.5% | -2.5% | -2.5% | |
| 09:00 | EMU | Gross Domestic Product s.a. (YoY) (1Q) | -4.9% | -4.8% | -4.6% | |
| 10:00 | DE | Industrial Production s.a. (MoM) (May) | 3.7% | 0.6% | -2.6% |
|
| 10:00 | DE | Industrial Production s.a. w.d.a. (YoY) (May) | -17.9% | -20.0% | -22.3% |
|
| 11:00 | US | MBA Mortgage Applications (Jul 3) | -4.5% | |||
| 14:30 | US | EIA Crude Oil Stocks change | -2.9M | -3.7M | ||
| 19:00 | US | Consumer Credit (May) | -$10.0B | -$15.7B | ||
| 22:45 | NZ | Credit Card Spending (Jun) | -2.4% | |||