Wednesday, Jul 16, 16:06 GMT
ASIA-PACIFIC Trading Newsletter
The Forex Game
Last Chance to WIN! Get a $ 5,000 Real Account with Alpari UK. Play on real charts and challenge traders in forex duels. START PLAYING NOW.Sponsored by:
To Get Started
- FXstreet.com International Traders Conference: Early Bird Discount extended until July 31st! Register before it's too late.
- Webinar Videos: Short term Forex Trading Strategies, Breakouts and Reversals by Sam Seiden
- Forexology: Finally a "Crab" pattern by Sunil Mangwani
- The Disciplined Trader: So you want to be right? Be right about your money management! by Pierre Charlebois
- Joseph Trevisani's interview by Rob Booker at TraderRadio
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, Jul 16, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
MONTHLY WEBINAR: Trading Plan: Rules and tools − Part 1
Expert: Valeria Bednarik
Start: Thu, Jul 17, 13:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jul 16, 16:00 GMT | The Federal Government and the United States economy: long term problem and short term cure? | Joseph Trevisani | WBN |  |
| Wed, Jul 16, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Jul 17, 13:00 GMT | MONTHLY WEBINAR: Trading Plan: Rules and tools − Part 1 | Valeria Bednarik | WBN | |
| Thu, Jul 17, 15:00 GMT | MONTHLY WEBINAR: Trading Plan: Rules and tools − Part 2  | Valeria Bednarik | WBN | |
| Fri, Jul 18, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum | Sunil Mangwani | WBN |  |
Current Session: U.S.
USD/JPY
Mid−Day Forex Technical Report − Dollar Mildly Higher on Fastest Inflation in 26 Years by ActionForex.com
While oversold condition, as seen in 4 hours RSI, is initially containing USD/JPY's sharp fall, outlook remains unchanged. Intraday bias remains on the downside as long as 105.12 minor resistance holds. Further decline should be seen to test key near term support at 102.73. On the upside, above 105.12 will indicate that an intraday low is in place and bring consolidation. But recovery should be limited well below 106.80 resistance and bring fall resumption.
- The Advisor Weblog by Valeria Bednarik, Analyst at MolFX − Management
- The Forex Game: Stop Losing Dollars... Win Duellars!
- Using fibonacci retracements to identify support and resistance by John Jagerson, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Market Session Recaps − London Session by FOREX.com
Market Thoughts − 16/7/2008 − the current market sentiment by FX Recommends
Daily Technical Strategist − EURUSD: EUR Hits Intra Day Highs, Fails To Sustain Gains by FXTechstrategy
Currencies: Technical Strategies − USD/JPY − How Low Can It Go? by fxKnight.com
Daily Forex News − Forex − Dollar fell to record low against Euro on persistent US financial sector worries by ACM − Advanced Currency Markets
FX Analysts' Comments
Finally a "Crab" pattern by Sunil Mangwani, CEO at FibForex123
GBP/USD update by Valeria Bednarik, Analyst at MolFX − Management
Currencies at a Glance
- EUR/USD
- Moves down below first support level 1.5841
07/16/2008 15:38 GMT - GBP/USD
- Continues to move down towards first support level 1.9938
07/16/2008 15:38 GMT - USD/CHF
- Moves up towards first resistant level 1.0174
07/16/2008 15:38 GMT - USD/JPY
- Moves up back around opening price level 104.69 , below pivot level 105.02
07/16/2008 15:38 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
EUR USD, Hourly
Top Market Movers Preview
US NAHB HOUSING MARKET INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Jul 16 | 17:00 | NAHB Housing Market Index | 18 | 18 |
How Far Will Housing Prices Fall? by Wachovia
We are repeatedly asked how far housing prices will fall and when home prices will bottom out. The answers to these questions are complicated. The current housing slump is without precedent, both in terms of breadth and magnitude.
[ Full Story ]Top Market Movers Review
US INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 16 | 13:15 | Capacity Utilization | 79.9% | 79.4% | 79.4% |
| Jul 16 | 13:15 | Industrial Production (MoM) | 0.5% | 0.0% | -0.2% |
DATA SNAP: US Industrial Output Exceeds Expectations In June (Dow Jones)
A heat wave and the end of an auto sector strike gave a lift to U.S. industrial production in June, rising well above expectations. Industrial production increased 0.5%, following an unrevised 0.2% drop in May, the Federal Reserve said Wednesday.
[ Full Story ]- ECONOMIC REPORT: Industrial Output Rebounds In June On Auto Production (Dow Jones)
- US June industrial production up 0.5%, capacity utilization rises to 79.9% (Thomson Financial News)
- US Capacity Utilization up to 79.9% in Jun 79.4% May (FXstreet.com)
US economic indicators - Industrial production remained unchanged at best, manufacturing activity slows by BHF−Bank
US CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 16 | 12:30 | Consumer Price Index (YoY) | 5.0% | 4.5% | 4.2% |
| Jul 16 | 12:30 | Consumer Price Index Ex Food & Energy (YoY) | 2.4% | 2.3% | 2.3% |
| Jul 16 | 12:30 | Consumer Price Index Ex Food & Energy (MoM) | 0.3% | 0.2% | 0.2% |
| Jul 16 | 12:30 | Consumer Price Index (MoM) | 1.1% | 0.7% | 0.6% |
DATA SNAP: US Inflation Jump May Put Fed Hikes Back On Table (Dow Jones)
U.S. consumer prices soared at their fastest pace in a quarter century last month, tightening the screws on Federal Reserve officials as they balance a stagflationary mix of rising unemployment, strained financial markets and rising inflation.
[ Full Story ]- Read the CPI data at Labor Department
- OFFICIAL CORRECTION U.S. June CPI up 1.1 pct; core CPI up 0.3 pct (Thomson Financial News)
- Forex − Dollar off day lows after staggering rise in U.S. inflation (Thomson Financial News)
- CORRECT:US June CPI 2nd Highest Rise Since 1982, Not Highest (Dow Jones)
Mid−Day Forex Technical Report − Dollar Mildly Higher on Fastest Inflation in 26 Years by ActionForex.com
US economic indicators - PPI and CPI surge on energy in June, core rates remain moderate by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 16 | 14:00 | US | Fed's Bernanke testifies | |||
| 14:35 | US | EIA Crude Oil Stocks change (Jul 12) | 3.0M | -1.2M | -5.9M | |
| 17:00 | US | NAHB Housing Market Index (Jul) | 18 | 18 | ||
| 18:00 | US | FOMC Minutes (Jun 25) | ||||
| Jul 17 | 01:30 | AU | RBA Foreign Exchange Transaction (Jun) | 336M | ||
| 05:00 | JP | Coincident Index (May) | 101.7% | |||
| 05:00 | JP | Leading Economic Index (May) | 92.8 | |||