Tuesday, Sep 02, 15:51 GMT
ASIA-PACIFIC Trading Newsletter
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Forex Blogs
Recommended Readings
FX Path: GBP/JPY Update − Pronounced Bounce by James Chen
The one−directional plummet that has occurred in the past couple of weeks on the GBP/JPY pair (a daily chart of which is shown) has been nothing short of remarkable. On Monday, price reached all the way down and bounced up off a very significant support level almost precisely around the 192.60 level.
Postcards from the Right Edge: New EUR/USD Trade! by Rob Booker
The Advisor Blog: Eur/Usd update by Valeria Bednarik
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Sep 3, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Sep 3, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Sep 2, 16:00 GMT | Profitable Day Trading in the Forex and Related Markets Series: Chapter IV | Markus Heitkoetter | WBN |  |
| Tue, Sep 2, 17:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
| Wed, Sep 3, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Sep 3, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Sep 3, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
Current Session: U.S.
EUR/USD
Technical Summary for Majors − Extended month−long drop from 1.6040 to reach 1.4570 last Tuesday by Windsor Brokers Ltd
Extended month−long drop from 1.6040 to reach 1.4570 last Tuesday, before recovering to 1.4812. A short−term head and shoulders top was then completed on last Friday's reversal under 1.4666/71. A steady retreat has followed, having today breached 1.4570 low to exceed 1.4550/30 and 1.4496/82 targets, opening 1.4450/40, possibly key 1.4390/65 area. Upside, 1.4556/70 zone now offers resistance.
- Not the bottom yet on the GBP/USD by Pierre Charlebois, Senior Trading Coach at www.TradingPostFinancial.com
- 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 Majors Technical Analysis by Mataf.net
Currency Performance Report
Currency Performance Report − Europe Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Moves up above second support level 1.4500
09/02/2008 15:33 GMT - GBP/USD
- Moves up around second support level 1.7880
09/02/2008 15:34 GMT - USD/CHF
- Moves down around first resistant level 1.1057
09/02/2008 15:34 GMT - USD/JPY
- Moves down around first resistant level 108.65
09/02/2008 15:35 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
EMU GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Sep 3 | 09:00 | Gross Domestic Product s.a. (YoY) | 1.5% | 2.1% |
| Sep 3 | 09:00 | Gross Domestic Product s.a. (QoQ) | -0.2% | 0.7% |
EMU economic indicators - Q2 EMU GDP is not expected to be revised significantly by BHF−Bank
The detailed breakdown of the components is likely to show that private consumption, investment and changes in inventories weighed on overall GDP growth. On the other hand, net exports probably had a favourable impact on growth, with imports declining more than exports.
[ Full Story ]Top Market Movers Review
US ISM MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 2 | 14:00 | ISM Manufacturing | 49.9 | 49.8 | 50.0 |
Mid−Day Forex Technical Report − Dollar Gives Back Some Gains after ISM by ActionForex.com
ISM manufacturing index dropped slightly from 50.0 to 49.9 in Aug. More importantly, price paid component dropped sharply to 77.0, lowest level since Feb. Employment component also dropped back into contraction region at 49.7.
[ Full Story ]- Read the Manufacturing Report at ISM
- UPDATE: US ISM Aug Index Shows Slight Contraction In Manufacturing (Dow Jones)
- UPDATE 1−U.S. manufacturing shrinks slightly in August−ISM (Thomson Financial News)
- DATA SNAP: US ISM Aug Index Shows Slight Contraction In Manufacturing (Dow Jones)
Daily Forex Commentary - Yen on the rise and ISM on the agenda by Jyske Bank
Daily Forex Technical Report − Aussie Soft after RBA Cut, Dollar Remains Firm ahead of ISM by ActionForex.com
Monitor - USA: Preview on August's ISM by Danske Bank A/S
US CONSTRUCTION SPENDING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 2 | 14:00 | Construction Spending (MoM) | -0.6% | -0.5% | 0.3% |
DATA SNAP: US Jul Construction Outlays Below Expected (Dow Jones)
U.S. construction spending fell during July, pulled down by the housing slump for the largest decline in five months. Total spending decreased by 0.6% to a seasonally adjusted annual rate of $1.084 trillion, the Commerce Department said Tuesday.
[ Full Story ]- Read the Construction Spending data at Census Bureau
- US July construction spending down 0.6 pct vs 0.3 pct decline expected (Thomson Financial News)
- US Construction Spending decreases 0.6% in Jul from revised 0.3% increase in June (FXstreet.com)
- Table Of Data On Construction Spending From Commerce (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 2 | 14:00 | US | Construction Spending (MoM) (Jul) | -0.6% | -0.5% | 0.3% |
| 14:00 | US | ISM Manufacturing (Aug) | 49.9 | 49.8 | 50.0 | |
| 21:00 | US | ABC/Washington Post Consumer Confidence (Aug 31) | -50 | |||
| 23:01 | UK | Nationwide Consumer Confidence (Aug) | 49 | 51 | ||
| Sep 3 | 01:30 | AU | Gross Domestic Product (QoQ) (2Q) | 0.4% | 0.6% | |
| 01:30 | AU | Gross Domestic Product (YoY) (2Q) | 2.9% | 3.6% | ||
| 03:00 | NZ | ANZ Commodity Price (Aug) | 1.8% | |||