Friday, Sep 05, 15:54 GMT
ASIA-PACIFIC Trading Newsletter
International Traders Conference 2008 − October 29−31
Don't miss the FX event of the year
This year's topics are Trading Psychology, Emerging Markets Currencies, Hidden Divergence, Risk Management, Range Trading, Support and Resistance, Break Out Trading Strategies and Sentiment Indicators.
And there will be 3 LIVE TRADING sessions coached by our guest speakers!
Book now your seat for the ITC 2008 and Enjoy our LAST CALL OFFER: 550 €
- Speeches Schedule
- Speakers Panel
- Haven't you decided to go yet? − View all 2007 videos
Forex Blogs
Recommended Readings
Trading Setups: 'This bloke down the pub told me…' by Phil Newton
I was going to write about some thoughts today about learning from mistakes… and I had a really cool analogy which I might fit in at the end… but I spotted something that makes my blood boil on one of my rare visits to another websites forum which ties into something similar.
FX Bootcamp: FREE 2 Hour Video Workshop − Strategic & Tactical FOREX Trading by Wayne McDonell
FX Path: Wedges by James Chen
Live Sessions Schedule
Understand & Use Fibonacci Ratio's Effectively
Expert: Sunil Mangwani
Start: Mon, Sep 8, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Sep 8, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Sep 8, 10:00 GMT | Understand & Use Fibonacci Ratio's Effectively | Sunil Mangwani | WBN | |
| Mon, Sep 8, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, Sep 8, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, Sep 8, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Sep 8, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN | |
Current Session: U.S.
EUR/USD
Daily Technical Strategist − EURUSD: Clears Its Dec'07 Low, Turns Attention To The 1.4014 Level by FXTechstrategy
Weakness through its Wednesday low at 1.4386 saw EUR break and close below another strong resistance at the 1.4310 level(its Dec'07 high) opening the door for lower prices towards a key support residing at the 1.4015 level, its Oct'07 low.If a continued decline persists, its July'07 high at 1.3852 will be targeted. Weekly and monthly studies are trending lower suggesting further declines could be seen. On the upside, its invalidated support at 1.4310 should now reverse roles and provide resistance.
- USD/JPY Update − After the Break by James Chen, Chief Technical Analyst at FX Solutions
- Forex Swing Trading, Low Risk / High Reward Trading In The Largest by by Sam Seiden, Stocks, Futures, Forex and Options Trader Online Trading Academy
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Mid−Day Forex Technical Report − US Unemployment Rate Surged to 5 Year High, Markets Volatile by ActionForex.com
Weekly Report
Weekly Market Commentary − The Yen has gained against all currencies bar none, and Yen crosses slumped towards their lowest prices of the last year or two by Mizuho Corporate Bank
Currencies at a Glance
- EUR/USD
- Moves down around first support level 1.4246
09/05/2008 15:41 GMT - GBP/USD
- Trades below pivot level 1.7722
09/05/2008 15:41 GMT - USD/CHF
- Trades above pivot level 1.1075
09/05/2008 15:42 GMT - USD/JPY
- Continues to trade around first support level 106.51
09/05/2008 15:42 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, GFT (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 PRODUCER PRICE INDEX − INPUT
| Date (GMT) | Event | Cons. | Previous | |
| Sep 8 | 08:30 | Producer Price Index − Input (YoY) n.s.a | - | 30.1% |
| Sep 8 | 08:30 | Producer Price Index − Output (MoM) n.s.a | - | 0.4% |
| Sep 8 | 08:30 | Producer Price Index − Output (YoY) n.s.a | - | 10.2% |
| Sep 8 | 08:30 | Producer Price Index − Input (MoM) s.a | - | -0.6% |
Weekly Market View - Unwinding Carry Trades Roil the Markets by FXstreet.com
PPI (Both input and output) presents insight view for inflation in the U.K. manufactures.Low volatility is expected for this event. The BoE sets the 2.0% traget in the medium term. Please keep an eye open for on the U.K inflationary pressure that would affect the future BoE monetary policy.
[ Full Story ]Top Market Movers Review
US NONFARM PAYROLLS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 5 | 12:30 | Nonfarm Payrolls | -84K | -71K | -51 |
| Sep 5 | 12:30 | Average Hourly Earnings (YoY) | 3.6% | 3.4% | 3.4% |
| Sep 5 | 12:30 | Average Weekly Hours | 33.7 | 33.6 | 33.6 |
| Sep 5 | 12:30 | Average Hourly Earnings (MoM) | 0.4% | 0.3% | 0.3% |
| Sep 5 | 12:30 | Unemployment Rate | 6.1% | 5.7% | 5.7% |
US Unemployment rises above expectations in August (FXstreet.com)
Unemployment has risen somewhat above expectations in the United States in August, hitting the highest rate in the last 5 years, as non farm payrolls posted the sharpest decline of the last five months, according to data by the US Labor Department.
[ Full Story ]- Read the employment situation: August 2008 at US Department of Labor
- 2nd UPDATE: US Jobless Rate Hits 5−Year High,Recession Odds Rise (Dow Jones)
- August's payroll decline, rise in unemployment to keep Fed still, economists say (Thomson Financial News)
- UPDATE: US Jobless Rate Hits 5−Year High, Upgrades Recession Risk (Dow Jones)
Daily Market Report: Forex - Non−farm payrolls for the month of August turned out to be worse than expected by ICICI Bank
Daily Fx Strategy - Dismal US Jobs Not Bad Enough for USD Due to Relative FX Strengths by CMC Markets
Mid−Day Forex Technical Report − US Unemployment Rate Surged to 5 Year High, Markets Volatile by ActionForex.com
Canada UNEMPLOYMENT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 5 | 11:00 | Net Change in Employment | 15.2K | 5.0K | -55.2K |
| Sep 5 | 11:00 | Unemployment Rate | 6.1% | 6.2% | 6.1% |
Canadian unemployment rate remains unchanged in August despite slight increase in employment (FXstreet.com)
Employment has picked up slightly in Canada during the month of August, following a considerable decline in July, while the balance of the first eight months of the year shows a much poorer work creation than in the same month last year, as the latest employment report by Statistics Canada shows.
[ Full Story ]- Read the Unemployment data at Statistics Canada
- USD/CAD: Dollar weakened in early US session (FXstreet.com)
- Canada Morning: C$ Up As USD Suffers From Poor Aug Job Data (Dow Jones)
- FXNEWS−Canada employment rebounds slightly in August (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 5 | 12:30 | US | Average Hourly Earnings (MoM) (Aug) | 0.4% | 0.3% | 0.3% |
| 14:00 | CA | Ivey Purchasing Managers Index (Aug) | 51.5 | 62.0 | 65.5 | |
| Sep 7 | 23:00 | AU | RBA's Governor Glenn Stevens Speech | |||
| 23:50 | JP | Money Supply M2+CD (YoY) (Aug) | 2.1% | |||
| Sep 8 | 05:45 | CH | Unemployment Rate (Aug) | 2.3% | ||
| 05:45 | CH | Unemployment Rate s.a. (Aug) | 2.5% | |||
| 08:30 | UK | Producer Price Index − Input (MoM) s.a (Aug) | -0.6% | |||