Wednesday, Aug 05, 11:08 GMT
U.S. Trading Newsletter
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To Get Started
- BoE and ECB Interest Rates decision Live Coverage: Thursday, at 10:45 GMT with Valeria Bednarik
- NFP Release Live Coverage: Friday, at 12:45 GMT with Nick Nasad
- WEBINAR VIDEOS: The Weather Report: Ichimoku Cloud Trading with Chris Capre
- Forex Tools renewed! Check out the brand new features: Margin Calculator and Carry Trade Calculator
- All the events of the day in our Economic Calendar
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Forex Blogs
Trading for a Living: The Asian channel at the European opening worked like a charm (II) by David Aranzabal
Again Technical levels worked fine at the European Opening. Price went all the way up from support to resistance showing us that we have to watch the patterns that repeat themselves everyday. Consistence is the key in this business.
The Trader's Edge: EUR/USD Quick Update by Ross Yamashita
FX Bootcamp: Currency Correlations by Wayne McDonell
Sponsored by 
Live Sessions Schedule
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Thu, Aug 6, 05:00 GMT
Type of Session: Webinar
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Aug 4, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Aug 5, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN |  |
| Wed, Aug 5, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
| Thu, Aug 6, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Thu, Aug 6, 09:00 GMT | Tracking the forex market together / Part I | Dr.S.Sivaraman | WBN | |
Current Session: Europe − U.S.
Market looks strong although below 1.7000
Charmer Charts.com − Cable made the break of 1.6830 on Monday and this then provoked buyers to ramp this higher for 1.7005. The market looks strong, and although back below 1.7000 is hasn't gone down hardly at all, yesterday only reaching the short term 25% fib level of 1.6880.
USD/JPY
The USD/JPY appears to be providing mixed signals today by ForexYard
This pair appears to be providing mixed signals today. The hourly chart has an impending bullish cross on the Slow Stochastic and the price has just entered the over−sold territory on the hourly RSI.
EUR/GBP
EUR/GBP: We are forming an ascending triangle formation by FXstreet.com Independent Analyst Team
We were met by divergence at point wave which warned of the change. We are forming an ascending triangle formation which favours a break to the upside.
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 | |
| Aug 5 | 12:15 | ADP Employment Change | -335K | -473K |
Forex Daily Analysis - Forex Trading − USD's Bearishness at an End? Today's News May Tell by ForexYard
Looking ahead to today, the release of the ADP Non−Farm Employment Change and the ISM Non−Manufacturing PMI is expected to have great affect on Dollar sentiment; with better than expected results likely intensifying the current bearish trend for the USD.
[ Full Story ]UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Aug 6 | 11:45 | ECB Interest Rate Decision | - | 1% |
| Aug 6 | 11:00 | BoE Interest Rate Decision | - | 0.5% |
Event risk: BOE and ECB policy meetings Thursday by Easy Forex
The next Bank of England (BOE) policy decision will be announced on Thursday August 6th. At the July policy meeting, the BOE elected to keep policy on hold at 0.5% and maintain its current level of asset purchases at £125 bln.
[ Full Story ]Top Market Movers Review
UK MANUFACTURING PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 5 | 08:30 | Manufacturing Production (YoY) | -11.7% | -11.4% | -12.7% |
| Aug 5 | 08:30 | Manufacturing Production (MoM) | 0.4% | 0.0% | -0.6% |
Forex: GBP/USD: Pound tests 1.7000 after upbeating UK data (FXstreet.com)
UK services sector's activity has expanded in July for second consecutive month, while industrial production posted the largest monthly improvement since October 2007.
[ Full Story ]- Read the oficial data at National Statistics
- United Kingdom Manufacturing Production rises 0.4% in Jun; 11.7% down on year (FXstreet.com)
European Market Update - UK PMI Services and production data exceeds expectations by TradeTheNews.com
Weekly Economic and Financial Commentary - More Evidence That the Recession is Ending by Wells Fargo Investments, LLC
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 5 | 08:30 | UK | Industrial Production (YoY) | -11.1% | -12.0% |
|
| 08:30 | UK | Manufacturing Production (MoM) (Jun) | 0.4% | 0.0% | -0.6% |
|
| 08:30 | UK | Purchasing Manager Index Services (Jul) | 53.2 | 51.8 | 51.6 | |
| 09:00 | EMU | Retail Sales (MoM) (Jun) | -0.2% | 0.3% | -0.4% | |
| 09:00 | EMU | Retail Sales (YoY) (Jun) | -2.4% | -2.2% | -3.3% | |
| 11:00 | US | MBA Mortgage Applications (Jul 30) | 4.4% | -6.0% | ||
| 12:15 | US | ADP Employment Change (Jul) | -335K | -473K | ||
| 14:00 | US | Factory Orders (Jun) | 0.0% | 1.2% | ||
| 14:00 | US | ISM Non−Manufacturing (Jul) | 48 | 47 | ||
| 14:30 | US | EIA Crude Oil Stocks change | 5.1M | |||
Educational Resources
New US specific forex regulations to be aware of
This week's article will review some of the new regulations affecting retail Forex traders with accounts in the US that are scheduled to take effect in August, 2009. Read full Steve Misic's article!
Other articles of this week's Lessons from the Pros
Pro−Active Financial Management - Article by Sam Seiden
The Great Reflation Experiment - Article by John Mauldin
Interpreting the Option Chain - Article by Online Trading Academy Team
Selecting a Commodity to Trade - Article by Don Dawson