Wednesday, Sep 17, 16:12 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- US Financial Crisis goes on: AIG makes Fed reverse its position
- Webinar Videos: How long will this USD trend last? by Adam Rosen
- Exclusive report - Perceiving Forex Volatility through Descriptive Statistics − Part 1 by Mark Whistler
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Forex Blogs
Currencies for today
FX Path: GBP/USD Alert − Near the Top of a Wedge/Pennant by James Chen
As of Tuesday evening in New York, price action on the 4−hour GBP/USD chart, as shown, has reached the top of what tentatively may be considered a falling wedge formation, or possibly a pennant pattern.
The Traders Edge: AUD/CAD Trade by Ross Yamashita
Trade Setups: Forex Video | Set ups 17 Aug ‘08 | Analysis by Phil Newton
Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, Sep 17, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
MONTHLY WEBINAR: Part 1: Common Sense Fundamentals and Technicals for Real Traders
Expert: Mark Whistler
Start: Thu, Sep 18, 12:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Sep 17, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Sep 18, 12:30 GMT | MONTHLY WEBINAR: Part 1: Common Sense Fundamentals and Technicals for Real Traders | Mark Whistler | WBN |  |
| Thu, Sep 18, 15:00 GMT | MONTHLY WEBINAR: Part 2: Perceiving Volatility through Descriptive Statistics  | Mark Whistler | WBN | |
| Fri, Sep 19, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum | Sunil Mangwani | WBN |  |
| Fri, Sep 19, 12:00 GMT | Improving your trading in congestion zones | Valeria Bednarik | WBN | |
Current Session: U.S.
GBP/USD
Mid−Day Forex Technical Report − Markets Stabilize into Consolidation by ActionForex.com
Some volatility is seen in cable today but after all it's still holding in tight range above 1.7634 minor support. Outlook is unchanged. A short term bottom is in place at 1.7445 after drawing support from long term fibonacci level of 50% retracement of 1.3680 to 2.1161 at 1.7421. Further rally should still be seen to correct the fall from 2.0158. Above 1.8042 will indicate such rebound has possibly resumed, targeting 1.8512/8794 resistance zone. Nevertheless, upside is expected to be limited by key near term cluster resistance at 1.8794 (50% retracement of 2.0158 to 1.7445 at 1.8802) and bring down trend resumption.
- Fed Special Coverage Transcript by Valeria Bednarik
- Technical Analysis Bootcamp: The indicators you need to know and how to interpret them by Dan Blystone, Founder TradersLog.com
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Currency Technical Report − Technical Market View by FXGreece
Market Session Recaps − London Session by FOREX.com
Daily Technical Strategist − EURUSD: Weakness Off The 1.4481 Level Continues To Be Seen by FXTechstrategy
FX Thoughts for the Day − FX Thoughts for the Day by Kshitij Consultancy Service
Forex Analysts' Blog
Eur/Usd and Gbp/Usd for today by Valeria Bednarik, analyst and foreign manager at MolFX − Management
Currency Performance
Currency Performance Report − Europe Session Performance by FXstreet.com
Forex Signals
Trade Signals − Matsys D Trade Signals by Fxwintrades
Currencies at a Glance
- EUR/USD
- Trades around pivot level 1.4170
09/17/2008 13:55 GMT - GBP/USD
- Moves up above pivot level 1.7860
09/17/2008 13:56 GMT - USD/CHF
- Stays above pivot level 1.1173
09/17/2008 13:56 GMT - USD/JPY
- Trades around pivot level 105.18
09/17/2008 13:56 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 RETAIL SALES
| Date (GMT) | Event | Cons. | Previous | |
| Sep 18 | 08:30 | Retail Sales (MoM) | -0.4% | 0.8% |
| Sep 18 | 08:30 | Retail Sales (YoY) | 1.6% | 2.1% |
Friday Notes - We expect −1% in August by HVB Group
Smoothing out the high volatility seen over the last three months, UK retail sales dynamic has been modest, but actually not disastrous as we would have expected. As retail sector surveys continue to point to a more pronounced weakness and consumption fundamentals are darkening by the day, retail sales should enter a clear downward trajectory over the next few months. We expect −1% in August.
[ Full Story ]Top Market Movers Review
US CURRENT ACCOUNT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 17 | 12:30 | Current Account | -$183.1B | -$179.0B | -$175.6B |
DATA SNAP: U.S. Current Account Gap More Than Expected (Dow Jones)
The U.S. current account deficit widened in the second quarter, pushed higher by rising oil imports. The current account deficit increased to $183.1 billion during April through June from a revised $175.6 billion in the first quarter, the Commerce Department said Wednesday.
[ Full Story ]- U.S. International Transactions at Bureau of Economic Analysis
- US current account deficit widened above expectations in the 2Q (FXstreet.com)
- US Q2 current account deficit widens to $183.1 bln (Thomson Financial News)
- U.S. current account deficit widens in 2Q (Thomson Financial News)
US HOUSING STARTS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 17 | 12:30 | Housing Starts (YoY) | 0.895M | 0.950M | 0.954M |
| Sep 17 | 12:30 | Building Permits (MoM) | 0.854 | 0.925M | 0.937M |
US housing starts, weaker than expected in August (FXstreet.com)
The U.S. Housing market did not recover from its already historical low level, and according by the level of building permits is not going to pick up in the next months either, as the latest report by the US Commerce Department shows.
[ Full Story ]- New residential construction in August 2008 at US Census Bureau
- UPDATE: Home Construction Retreats In August To 17−Year Low (Dow Jones)
- WRAPUP 1−U.S. August housing starts at 17−1/2−year low (Thomson Financial News)
- FXNEWS−Housing starts fall a positive for sector−analyst (Thomson Financial News)
US economic indicators - Housing starts (August): downward trend intact by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 17 | 12:30 | US | Housing Starts (YoY) (Aug) | 0.895M | 0.950M | 0.954M |
| 14:35 | US | EIA Crude Oil Stocks change (Sep 13) | -6.3M | -5.9M | ||
| 23:50 | JP | Tertiary Industry Index (MoM) (Jul) | 0.4% | -0.8% | ||
| Sep 18 | 05:00 | JP | Bank of Japan Monthly Economic Survey | |||
| 05:30 | JP | Nationwide Department Sales (YoY) (Aug) | -2.5% | |||
| 06:00 | JP | Machine Tool Orders (YoY) (Aug) | -14.2% | |||
| 06:15 | CH | Trade Balance (Aug) | 2.37B | |||