Friday, Aug 29, 15:53 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Webinar Videos: Power Trading in Globalization 3.0 by John W. O'Donnell
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Forex Blogs
Recommended Readings
The Disciplined Trader: Does it fell like everybody is waiting for something to happen? by Pierre Charlebois
Ever notice that. That there sometimes seems to be a tension that builds in a room. And then... all hell breaks loose. This is the feeling I'm getting right now about the FX Market. Do you fell this as well?
Chartology: Fibonacci−based moving averages: Examples on the daily charts by Raghee Horner
FXstreet.com Weblog: Rob Booker new Chief Currency Strategist at InterbankFX by Francesc Riverola
Live Sessions Schedule
Understand & Use Fibonacci Ratio's Effectively
Expert: Sunil Mangwani
Start: Mon, Sep 1, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, Sep 1, 16:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Sep 1, 10:00 GMT | Understand & Use Fibonacci Ratio's Effectively | Sunil Mangwani | WBN | |
| Mon, Sep 1, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, Sep 1, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, Sep 1, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN | |
| Tue, Sep 2, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN | |
Current Session: U.S.
USD/CAD
Mid−Day Forex Technical Report − Dollar Mildly Higher after Data by ActionForex.com
USD/CAD's rebound from 1.0410 extends further today, taking out 4 hours 55 EMA and reaches as high as 1.0565 so far. With 4 hours MACD turned positive, the fall from 1.0727 might have completed already. At this point, intraday bias is mildly on the upside. Break of 1.0593 resistance add more credence to this case and bring retest of 1.0727 high. Break will indicate recent rally has resumed for 1.0791/98 cluster resistance. On the downside, though, below 1.0468 will flip intraday bias back to the downside and argue that correction from 1.0727 is probably still in progress. Nevertheless, downside is expected to be contained above 1.0273 cluster support (61.8% retracement of 0.9974 to 1.0727 at 1.0262) and bring rally resumption.
- Gbp/Usd and Usd/Jpy for today by Valeria Bednarik, Analyst at MolFX − Management
- 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:
Currency Technical Report − Currency Technical Report by FXGreece
Bank's Report
Forex Trading Strategies − Muted Response to US GDP by Saxo Bank
Strategy Report
Daily Technical Strategist − EURUSD: Nearer Term Corrective Recovery Continues To Shape Up by FXTechstrategy
Currency Performance Report
Currency Performance Report − Europe Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Trades around opening price level 1.4705 , below pivot level 1.4729
08/29/2008 15:22 GMT - GBP/USD
- Continues to move down below first support level 1.8222
08/29/2008 15:22 GMT - USD/CHF
- Trades around opening price level 1.0985 , above pivot level 1.0959
08/29/2008 15:23 GMT - USD/JPY
- Trades below first support level 108.95
08/29/2008 15:23 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
UK M4 MONEY SUPPLY
| Date (GMT) | Event | Cons. | Previous | |
| Sep 1 | 08:30 | M4 Money Supply (MoM) | - | 0.9% |
| Sep 1 | 08:30 | M4 Sterling Lending | - | £51.4B |
| Sep 1 | 08:00 | M4 Money Supply (YoY) | - | 11.2% |
Spot Forex Trades - EURGBP Momentum: OverBought! by ForexSurvivor
The breakout of EURGBP Weekly triangle, simulated with August monthly closing, tends to demolish any wide correction for September and the pair targets 8500.
[ Full Story ]Top Market Movers Review
US REUTERS/MICHIGAN CONSUMER SENTIMENT INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 29 | 13:55 | Reuters/Michigan Consumer Sentiment Index | 63.0 | 62.0 | 61.2 |
Reuters/Univ Michigan End−Aug Sentiment 63.0; Jul 61.2 (Dow Jones)
Consumer sentiment outstripped expectations in August, amid signs of retreating inflation worries. The final version of the Reuters/University of Michigan consumer sentiment index for the current month settled at 63, from 61.2 in July.
[ Full Story ]- Read the Reuters/University of Michigan Surveys of Consumers data at Reuters
- US late Aug Reuters/Michigan consumer sentiment rises to 63.0 vs 62.0 expected (Thomson Financial News)
- Reuters/Michigan Aug Consumer Sentiment Index 63.0 from Jul 61.2 (FXstreet.com)
US economic indicators - UMI's consumer sentiment, could improve again, albeit slightly this time, to 62.0 by BHF−Bank
US CORE PERSONAL CONSUMPTION EXPENDITURE − PRICES INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 29 | 12:30 | Personal Income (MoM) | -0.7% | -0.1% | 0.1% |
| Aug 29 | 12:30 | Personal Spending | 0.2 | 0.3 | 0.6 |
| Aug 29 | 12:30 | Core Personal Consumption Expenditure − Prices Index (MoM) | 0.3% | 0.3% | 0.3% |
DATA SNAP: Consumer Spending Slows In July; Income Down (Dow Jones)
Consumer spending slowed in July, suggesting the economy will weaken with the end of goverment stimulus payments, while a key inflation gauge crept higher.
[ Full Story ]- Read the Consumption and Expenditure data at Commerce Department
- US July consumer spending up 0.2 pct; personal income falls 0.7 pct (Thomson Financial News)
- ECONOMIC REPORT: Income, Spending Weak In July (Dow Jones)
- TREASURIES−Bonds extend gains after personal income data (Thomson Financial News)
Mid−Day Forex Technical Report − Dollar Mildly Higher after Data by ActionForex.com
Daily Analysis - U.S Dollar falls on speculation that consumer spending slowed by Finotec Group Inc.
US economic indicators - PCE core deflator (July): well above the Fed's comfort zone by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 29 | 13:45 | US | Chicago Purchasing Managers' Index (Aug) | 57.9 | 49.9 | 50.8 |
| 13:55 | US | Reuters/Michigan Consumer Sentiment Index (Aug) | 63.0 | 62.0 | 61.2 | |
| Sep 1 | 00:00 | US | Labor Day Holiday | |||
| 01:30 | AU | Company Gross Operating Profits (QoQ) (2Q) | 2.2% | |||
| 01:30 | AU | Current Account Balance (2Q) | -19492M | |||
| 01:30 | JP | Labor Cash Earnings (YoY) (Jul) | -0.6% | |||
| 05:00 | JP | Vehicle Sales (YoY) (Aug) | 5.4% | |||