Monday, Aug 03, 11:40 GMT
U.S. Trading Newsletter
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Forex Blogs
Trading for a living: Second leg in Pound gives us 100 pips in one hour by David Aranzabal
After Friday's breakout in cable (The pair broke 1 month high), this morning we got the second leg just at the London Opening. The price broke the Asian channel and went all the way up till the 150% fib extension of the previous rally.
FOREX VIDEO: 10:40 update by Phil Newton
FX Market Readings: Month beginning expected moves by Dr.S.Sivaraman
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Live Sessions Schedule
Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Mon, Aug 3, 12:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Aug 3, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Aug 3, 12:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Mon, Aug 3, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Aug 3, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Mon, Aug 3, 19:00 GMT | Trading Around Your Day Job | Ryan O'Keefe | WBN |  |
Current Session: Europe − U.S.
GBPUSD: Breaking Higher And Triggering Medium Term Uptrend Resumption
FXTechstrategy − The pair was seen building on its last weak gains in early morning trading today breaking above the 1.6742 level, its YTD high and triggering the resumption of its medium term uptrend on hold since Jun 30'09. Holding on to those gains and closing higher on a daily closing basis today will mean further upside threats towards the 1.7000 level, its psycho level.
EUR/USD
EUR/USD: This Weeks Cyclical Economic Data to be Supportive of Risk by ACM − Advanced Currency Markets
A brief look at the daily chart today in preparation for the possibilities of breaking 1.4338. The medium term trend is obviously still up.
USD/JPY
The recent pick−up in risk appetite has helped push USD/JPY higher by Danske Bank A/S
The recent pick−up in risk appetite has helped push USD/JPY higher, though perhaps to a lesser extent than could be expected, and speculative investors have reduced their net long JPY positions.
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 ISM MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Aug 3 | 14:00 | ISM Manufacturing | - | 44.8 |
US: ISM preview, July by Danske Bank A/S
Last month ISM rose to 44.8 from a 42.8 reading in May. This increase was mainly driven by increases in the "good" sub−indices Production and Employment, which rose 6.5 and 6.4 index points respectively. The local surveys have been rather mixed this month, suggesting an ISM reading of 44.6, which is unchanged compared to last month. The New Orders sub index has been increasing in almost all of the local indices. The local price indices have also been quite mixed this month, but overall suggest that the price index should decrease somewhat to 41.8.
[ Full Story ]Top Fundamental Stories - ISM Manufacturing and Construction Spending Dominate at the Start of the Week! by ecPulse.com
US economic indicators - ISM manufacturing index (Jul): Seventh consecutive increase by BHF−Bank
Top Market Movers Review
UK PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 3 | 08:30 | Purchasing Manager Index Manufacturing | 50.8 | - | 47.0 |
Top Fundamental Stories - PMI Manufacturing Moderates in the Euro Zone, while UK PMI expanded for the first time by ecPulse.com
The euro zone released its PMI manufacturing for the month of July's final reading today coming in at 46.3, the highest in 11 months, higher than the preliminary and projected readings of 46.0. The incline was led by Germany; the largest economy in the euro region, where the reading soared to 45.7 from the previous and expected 45.2. However, the reading is still below 50, which implies that the sector is contracting.
[ Full Story ]- UPDATE: UK Mfg PMI Points To GDP Rise, Recovery Seen Fragile (Dow Jones)
- DATA SNAP: UK Jul Mfg PMI Above 50 For 1st Time Since Mar 08 (Dow Jones)
European Market Update - European Zone Manufacturing PMIs at 'pre−Lehman' levels by TradeTheNews.com
Friday Notes - We expect a further moderate improvement for July by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 3 | 06:00 | DE | Retail Sales (MoM) (Jun) | -1.8% | -1.3% |
|
| 06:00 | DE | Retail Sales (YoY) (Jun) | -1.6% | -2.9% | ||
| 07:30 | CH | SVME − Purchasing Managers' Index (Jul) | 44.3 | 41.8 | ||
| 07:55 | DE | Purchasing Manager Index Manufacturing (Jul) | 45.7 | 40.9 | ||
| 08:00 | EMU | Purchasing Manager Index Manufacturing (Jul) | 46.3 | 42.6 | ||
| 08:30 | UK | Purchasing Manager Index Manufacturing (Jul) | 50.8 | 47.0 | ||
| 14:00 | US | Construction Spending (MoM) (Jun) | -0.9% | |||
| 14:00 | US | ISM Manufacturing (Jul) | 44.8 | |||
| 22:45 | NZ | Labor Cost Index (QoQ) (2Q) | 0.6% | |||
| Aug 4 | 01:30 | AU | House Price Index (QoQ) (2Q) | -2.2% | ||
Educational Resources
Video Forex trading program − Day 1
This EXCLUSIVE 30−day trading program is a series of 30 short movies designed for those who would like to learn how to trade the forex market. It gives the student small trading assignments to do each day, practicing the strategies we teach on demo accounts, and is designed to generate interest in not only trading the forex market, but implementing the proper techniques. Start 4xlounge.com's course today with the first lesson: Day 1: Introduction