Thursday, Aug 07, 16:02 GMT
ASIA-PACIFIC Trading Newsletter
Forex Blogs
Recommended Readings
The Advisor Blog: Central Banks Coverage by Valeria Bednarik
Well, more or less as what I was expecting, Mr. Trichet's concerns turned from inflation towards the downside risks of growth, as he said that "economic growth is likely to be substantially weaker than the first quarter".
FX Path: Forex Range Trading by James Chen
Postcards from the Right Edge: Why do I counter−trend trade? by Rob Booker
Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Aug 7, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Banging around the Bands
Expert: Chris Capre
Start: Fri, Aug 8, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Aug 7, 15:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN |  |
| Thu, Aug 7, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Fri, Aug 8, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN |  |
| Fri, Aug 8, 14:00 GMT | Banging around the Bands | Chris Capre | WBN | |
| Fri, Aug 8, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
EUR/USD
Mid−Day Forex Technical Report − Euro Gets No Support from Trichet by ActionForex.com
EUR/USD's recovery from 1.5398 was limited below mentioned 1.5518 minor resistance and fall resumes in early US session by taking out this low. At this point, intraday bias remains on the downside and further decline is still expected to 1.5284/5302 support zone. Above 1.5518 will turn intraday outlook neutral first.
- Spike moves expected for BOE & ECB rate decision times by by Dr. S. Sivaraman, of i−knowindices.com
- Forex Swing Trading, Low Risk / High Reward Trading In The Largest by Sam Seiden, Stocks, Futures, Forex and Options Trader Online Trading Academy
- Institutional Trading Strategies 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
Currency Performance
Currency Performance Report − Europe Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Drops below first support level 1.5364
08/07/2008 14:57 GMT - GBP/USD
- Drops below first support level 1.9428
08/07/2008 14:57 GMT - USD/CHF
- Moves up towards first resistant level 1.0638
08/07/2008 14:58 GMT - USD/JPY
- Continues to trade above pivot level 109.29
08/07/2008 14:58 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 NONFARM PRODUCTIVITY
| Date (GMT) | Event | Cons. | Previous | |
| Aug 8 | 12:30 | Nonfarm Productivity | 2.6% | 2.6% |
| Aug 8 | 12:30 | Unit Labor Costs | 1.2% | 2.2% |
Friday Notes - Mounting recession risks in Europe by HVB Group
The economy did better in Q2 2008 than anyone had thought possible coming into the quarter, largely because of the solid improvement in net exports. As a result, productivity surged and unit labor cost pressure diminished.
[ Full Story ]Top Market Movers Review
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 7 | 11:45 | ECB Interest Rate Decision | 4.25% | 4.25% | 4.25% |
Mid−Day Forex Technical Report − Euro Gets No Support from Trichet by ActionForex.com
ECB left rates unchanged at 4.25% as widely expected. Trichet continued to sound hawkish in the following press conference, emphasizing the upside risks to inflation and ECB's sole mandate of maintain price stability. Trichet expects inflation to remains far above target for protracted period of time. Also, Trichet played down recent weakness in Q2 GDP by saying that it's just a 'technical correction' after exceptionally strong growth in Q1.
[ Full Story ]- Read the oficial Monetary Policy Decisions at ECB
- European govt bonds jump higher as Trichet maintains status quo on inflation (Thomson Financial News)
- FOCUS ECB in no mood to lower interest rates just yet (Thomson Financial News)
- ECB's Trichet sees inflation staying elevated, risks of further rises UPDATE (Thomson Financial News)
ECB and the Euro by FX Solutions
Forex Analysis on Majors - ECB and BoE will leave today the interest rate without changes by Forex Ltd
Daily Forex Technical Report − Euro Recovers ahead of ECB by ActionForex.com
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 7 | 11:00 | BoE Interest Rate Decision | 5% | 5% | 5% |
The Bank of England maintains its Bank rate unchanged at 5.00% (FXstreet.com)
The Bank of England has decided to leave its official bank rate by unchanged at 5.00% for the fourth consecutive month, after their monthly Policy Meeting. This decision is taken in a context of high inflation, rising at 3.8% pace year on year in and with manufacturing output, as well as consumer confidence posting sharp declines.
[ Full Story ]- Read the news release by Bank of England
- Spike moves expected for BOE & ECB rate decision times By Dr. Sivaraman
- UPDATE: Bank Of England Policymakers Leave Key Rate Unchanged (Dow Jones)
- BCC says UK edging closer to recession, urges BoE to lower rates (Thomson Financial News)
- BoE right to leave rates on hold for time being − CBI (Thomson Financial News)
Daily Market Report - The dollar weakened this morning before the rate announcements by the Bank of England by Wachovia
Daily Forex News - Forex − ECB and BOE are both expected to leave rates steady by ACM − Advanced Currency Markets
Forex Analysis on Majors - ECB and BoE will leave today the interest rate without changes by Forex Ltd
US FED INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 5 | 18:15 | Fed Interest Rate Decision | 2% | 2% | 2% |
The Federal Reserve says that inflation will begin to moderate this year (FXstreet.com)
Federal Reserve policy Committee decided by majority to keep its Funds Rate unchanged at 2.0% for fourth month consecutive, Last cut was on April 30th. This decision is in line of the market expectations, as inform published by the FOMC's press office
[ Full Story ]- FOMC Holds Rates Steady − Dollar Holds by Jerry Furst
- Read the oficial FOMC Statement
- Forex − Dollar remains supported by lower oil prices despite dovish Fed (Thomson Financial News)
- Mexico's Peso Closes Weaker At 9.9105/Dlr; Firm After Fed (Dow Jones)
- Fed keeps key target rate unchanged at 2.00% UPDATE (Thomson Financial News)
Daily Market Briefing - US Dollar Bulls Stay In The Game As Fed Rate Hike Speculation Goes Little Changed by FXCM
Gold Investments Market Update − Federal Reserve Statement Warns of Stagflation by Gold and Silver Investments Limited
FedWatch: FOMC Meeting August 5th by BBVA Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 7 | 12:30 | US | Continuing Jobless Claims (Jul 26) | 3311 | 3285K | 3282K |
| 14:00 | US | Pending Home Sales (MoM) (Jun) | 5.3% | -1.0% | -4.7% | |
| 19:00 | US | Consumer Credit (Jun) | $6.40B | $7.78B | ||
| 23:50 | JP | Money Supply M2+CD (YoY) (Jul) | 2.4% | 2.3% | ||
| Aug 8 | 05:45 | CH | Unemployment Rate (Jun) | 2.3% | 2.3% | |
| 05:45 | CH | Unemployment Rate s.a. (Jun) | 2.5% | 2.5% | ||
| 11:00 | CA | Net Change in Employment (Jul) | 5K | -5K | ||