Wednesday, Oct 31, 19:46 GMT
ASIA-PACIFIC Trading Newsletter
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- Forex Chat Room: Share your trading ideas and comments with fellow traders
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The Brokers (re) Evolution: NFA Regulation
US FDM's under major threat? by FXstreet.com
News are shaking markets as we have seen that Dan Roth is proposing that only companies that are mainly engaged in Futures business (IE. FCMs) could be allowed to offer Forex.
Live Sessions Schedule
What Moves Currencies? − Getting ready for the NFP
Expert: Tony Juste
Start: Thu, Nov 1, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
How to Get Started Trading Forex
Expert: Steve Primo
Start: Thu, Nov 1, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Nov 1, 10:00 GMT | What Moves Currencies? − Getting ready for the NFP | Tony Juste | WBN | |
| Thu, Nov 1, 14:00 GMT | Technical Analysis Q&A  | Tony Juste | WBN |  |
| Thu, Nov 1, 15:00 GMT | How to Get Started Trading Forex | Steve Primo | WBN | |
| Thu, Nov 1, 17:00 GMT | The numbers method: making entry points easy for you | Flávio Lemos | WBN | |
| Fri, Nov 2, 12:00 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 18th Edition | Wayne McDonell | WBN |  |
Current Session: U.S.
EUR/USD
Today's Top Momentum Movers − Dollar Falls on Rate Cut by TheFXMarkets.com
The yen sank today versus the dollar and the euro, as equity markets in the U.S. rebounded, and the Fed cut the Fed funds rate and the discount rate. The yen slumped as traders entered the carry trade, borrowing yen to invest in more profitable assets. The dollar pushed into new lows versus the euro after the rate cuts were announced.
- RECAP OF EXTREME OB/OS LEVELS (after US GDP) at Tony Juste's blog
- Long−term Forex Perspectives: Our new blog by John Jagerson and S. Wade Hansen
- New Webinars Video − Access now Educational Sessions Recordings
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
- Be up to date with the Latest Forex News
Other Topics for this Session:
Forex Trading Strategies − Pivotal day ahead − Fed guidance is the key for USD direction by Saxo Bank
Daily Forex Forecast − Daily Forex Forecast by FXDream
Mid−Day Forex Technical Report − Dollar Trying to Recover after Strong Data, ahead of FOMC by ActionForex.com
Currencies at a Glance
- EUR/USD
- Trades between pivot level 1.4419 and first resistant level 1.4464 after US Interest Rate decision
10/31/2007 18:24 GMT - GBP/USD
- Trades around second resistant level 2.0788 after US Interest Rate decision
10/31/2007 18:24 GMT - USD/CHF
- Continues to trade below pivot level 1.1606 after US Interest Rate decision
10/31/2007 18:24 GMT - USD/JPY
- Trades around first resistant level 114.97 after US Interest Rate decision
10/31/2007 18:24 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
GBP USD, Hourly
USD JPY, Hourly
Top Market Movers Preview
UK PMI MANUFACTURING INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Nov 1 | 09:30 | PMI Manufacturing Index | 54.5 | 55.1 |
Friday Notes - Fed: The first cut was the deepest by HVB Group
After having declined in September, we expect the UK manufacturing PMI to keep trending lower and decline to 54.5 in October – in line also with the indications coming from the CBI industrial trend survey.
[ Full Story ]Top Market Movers Review
US FED INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 31 | 18:15 | Fed Interest Rate Decision | 4.50% | 4.50% | 4.75% |
Fed cuts key funds rate to 4.5 pct as expected (Thomson Financial News)
For the second time in as many meetings, the Federal Reserve cut a key interest rate to ensure against a possible slowdown in the economy.
The Fed's policymaking Federal Open Market Committee lowered its most important federal funds rate target to 4.5 pct.
- Read the FOMC Statement at the Federal Reserve
- EUR/USD hit a record high at 1.4505 after the Fed Cut by 25bps (FXstreet.com)
- Forex Dollar weakens after Fed cuts rates as expected (Thomson Financial News)
- Odds of another rate cut decline after Fed says risks are now balanced (Thomson Financial News)
Daily Fx Strategy - Dollar Shrugs Strong ADP, GDP Ahead of Anticipated Fed Easing by CMC Markets
Today's Top Momentum Movers - Dollar Falls on Rate Cut by TheFXMarkets.com
Central Banks: Fed - 31st October Meeting Preview by FXstreet.com
US CONSTRUCTION SPENDING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 31 | 14:00 | Construction Spending (MoM) | 0.3% | -0.5% | -0.2% |
DATA SNAP: Sep Construction Outlays Above Expectations (Dow Jones)
U.S. construction spending unexpectedly climbed in September, with government−financed projects helping builders overcome the housing sector's deep troubles.
[ Full Story ]- Read the Construction Spending data
- US September construction spending up 0.3 pct vs forecast 0.5 pct fall (Thomson Financial News)
- US Construction spending picks up in September (FXstreet.com)
- Table Of Data On Construction Spending From Commerce (Dow Jones)
US CHICAGO PURCHASING MANAGERS' INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 31 | 13:45 | Chicago Purchasing Managers' Index | 49.7 | 53.0 | 54.2 |
Chicago PMI decreases to 49.5 in Oct; Decline in Mfg activity (FXstreet.com)
The Chicago Purchasing Managers Index has decreased to 49.5 in October from 54.2 in September, in a gauge that shows contraction in figures below 50.
[ Full Story ]- Kingsbury International homepage
- Chicago PMI Shows Economic Slowdown, Inflation Pressures (Dow Jones)
- Table Of Data From US Chicago Purchasing Managers' Report (Dow Jones)
- US Chicago Purchasing Managers' Index down to 49.7 in Oct from 54.2 in September (FXstreet.com)
US GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 31 | 12:30 | Gross Domestic Product Annualized | 3.9% | 3.1% | 3.8% |
US GDP grows larger than expected in the Q3 (FXstreet.com)
US Economy grew at a robust pace during the summer months thanks to good results on exports and consumer spending which have offset the negative influence of the weak housing sector, which made possible a higher than expected GDP growth.
[ Full Story ]- Read the Gross Domestic Product data at Commerce Department
- US Q3 GDP growth 3.9 pct, core PCE price index 1.8 pct (Thomson Financial News)
- DATA SNAP: US 3Q GDP Rises Higher Than Expectations (Dow Jones)
- US Gross Domestic Product Annualized rises 3.9% in 3Q (FXstreet.com)
Daily Forex Technical Report − Huge Day for Dollar, Focus on FOMC and Q3 GDP by ActionForex.com
US: GDP Observatory (3Q07) by BBVA Bancomer
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 31 | 18:15 | US | Fed Interest Rate Decision | 4.50% | 4.50% | 4.75% |
| Nov 1 | 00:30 | AU | Retail Sales (MoM) (Sep) | 0.5% | 0.7% | |
| 00:30 | AU | Trade Balance (Sep) | -1000M | -1610M | ||
| 05:30 | AU | RBA Commodity Index SDR (YoY) | 5.4% | |||
| 08:30 | CH | SVME − Purchasing Managers' Index (Oct) | 58.0 | 57.6 | ||
| 09:30 | UK | PMI Manufacturing Index (Oct) | 54.5 | 55.1 | ||
| 11:00 | UK | CBI Distributive Trades Survey − Realized (MoM) | 12 | |||