Wednesday, Jan 03, 18:06 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Forex Forum: Post your comments and share your opinions with fellow traders
- Featured Book: High Probability Trading Setups for the Currency Market
- Follow Europe and US action live with Tony Juste's Daily Show
SUBSCRIBE TO THE NEXT SPECIAL WEBINARS
SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 8th Edition
Expert: Wayne McDonell
Start: Fri, Jan 5, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
How to become a professional trader - The six biggest mistakes that traders make and tips and tricks how to avoid
Expert: Markus Heitkoetter
Start: Tue, Jan 9, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Topics
- High-probability trading entries
- Trading strategies
Current Session: U.S.
EUR/USD
Global FX Daily - U.S. Edition - USD recovers in European morning – US data releases awaited by Mellon Foreign Exchange
EUR-USD has baulked at resistance around 1.3290-1.3300 and support now comes in at 1.3175-1.3200. German labour market data was stronger than expected, but this has not changed existing perceptions about ECB policy.
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
- Insight on the fundamentals in the Fundamentals section at FXstreet.com
- What´s next on the agenda? Take a look at our Economic Events Calendar
- What's going on in the markets? Read our latest Forex news
Other Topics for this Session:
FX Thoughts for the Day - Evening - 03-Jan-2007....1259 GMT by Kshitij Consultancy Service
Daily Forex Outlook - Dollar continues its weak tone against majors by Easy Forex
Daily Technical Briefing - "Beginning Of Something Bigger For the Dollar?" by FXCM
Currencies at a Glance
- EUR/USD
- Moves up above 1.3150
12/19/2006 3:40:18 PM - GBP/USD
- Moves up slightly above 1.9600
12/19/2006 3:40:30 PM - USD/CHF
- Moves down below 1.2200
12/19/2006 3:40:44 PM - USD/JPY
- Trades slightly above 118.00
12/19/2006 3:41:00 PM
Charting the Market Movers
EUR USD, Hourly
EUR JPY, Hourly
Top Market Movers Preview
New Zealand Tade Balance
| Period | Previous | Consensus | Time |
| November | -1.167B | -0.840B | 21:45 GMT |
- Imports and Exports - New Zealand Statistics Office
- Tony Juste, FX Advisor at FXstreet.com:
"Better than expected ISM figures return the happiness to US investors after a disappointing forecast for new jobs that would have been created in the last month. The reading shows some resiliency in the sector to cross under the 50 mark (something done last month), and again points to further expansion in the sector. I must say I was expecting a much weaker reading, and am not surprised to see such a good market reaction. " - FXstreet.com
Top Market Movers Review
U.S. Construction Spending
| Period | Previous | Consensus | Actual |
| December | -0.3% | -0.5% | -0.2% |
Construction activity falls in November by AFX News
Construction activity showed further weakness as spending on homes dropped for a record eighth consecutive month. The Commerce Department reported Wednesday that building activity edged down 0.2 percent in November to a seasonally adjusted annual rate of $1.18 trillion. That followed declines of 0.3 percent in October and 0.8 percent in September.
US ISM Manufacturing
| Period | Previous | Consensus | Actual |
| December | 49.5p | 50.0p | 51.4p |
US industry still alive and kicking by Danske Bank
The ISM index surprised on the upside today, showing a decent pick-up from 50 in November to 51.4 in December, suggesting that US industry is still alive and kicking. The prices paid index dropped on the back of the recent softening in commodity prices. In general, today's reading reinforces the view that the US economy is nearing a Goldilocks scenario with robust growth but less pressure from prices.
[ Full Story ]- U.S. ISM Manufacturing Index edges up to 51.4 in December (FXstreet.com)
- US Dec manufacturing ISM rises to 51.4 from 49.5 Nov; beats expectations (AFX News)
- U.S. manufacturing expanded in December (AFX News)
- Follow U.S. action live with Tony Juste's Daily Show
- Tony Juste, FX Advisot at FXstreet.com:
"Better than expected ISM figures return the happiness to US investors after a disappointing forecast for new jobs that would have been created in the last month. The reading shows some resiliency in the sector to cross under the 50 mark (something done last month), and again points to further expansion in the sector. I must say I was expecting a much weaker reading, and am not surprised to see such a good market reaction." - FXstreet.com
U.S. ADP Employment Change
| Period | Previous | Consensus | Actual |
| December | 158K | 120K | -40K |
Forex Trading Strategies - Lowest ADP Report since the Spring of 2003 by Saxo Bank
The worst ADP report since the spring of 2003 limited but did not erase earlier gains in USD. Solid German figures could not stop the EURUSD from dropping.
[ Full Story ]- ADP National Employment Report - ADP [PDF, 216K]
- ADP Employment Change drops by 40,000 (FXstreet.com)
- Tony Juste, FX Advisor at FXstreet.com:
"ADP expectations are not very healthy, and it could just represent the confirmation that the US labour market is just about to top out. Remember that this measure is jsut a survey that tries to anticipate what could come out on Friday, with a 50% approxiamtely success in prediction, but nonetheless significant drop in the number of jobs being created is anticipated.Surprisingly the Dollar is rallying on the news. " - FXstreet.com