Wednesday, Oct 01, 16:44 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Special Coverage - Senate entering into the scene by FXstreet.com
- Special Coverage - Global Financial Crisis: Trying to settle down global uncertainty by FXstreet.com
- Euro Breaks 1.40, ISM Tanks, Take 2 of Bailout Drama by Kathy Lien, Director of Currency Research at GFT (Global Forex Trading)
- Webinar Videos: Institutional Trading Strategies: The Indicators by Andrei Pehar
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
International Traders Conference 2008 − October 29−31
8 experts, 3 days, 9 hours of Live Trading, 8 hours of speeches and much more!
"I will be using the very short term charts, so that we'll be seeing movement as we talk, and discussing the decisions as the market moves."
Rob Booker about Live Trading Sessions
Book your seat before it's too late... Register deadline is October 10!
- Speeches Schedule
- Speakers Panel
- Haven't you decided to go yet? − View all 2007 videos
Forex Blogs
FX Market Readings: Bailout story or other data? by Dr. S. Sivaraman
EUR/GBP corrected after a brief firming up move during close of European session. Negative US data release did not affect the market sentiment as the prime focus appears to be on the bailout story.
FX Path: USD/JPY Update − Near Brink of Resistance by James Chen
The Disciplined Trader: USD pairs could be signaling a trend reversal is close at hand by Pierre Charlebois
Live Sessions Schedule
What may we expect for the rest of the year?
Expert: Adam Rosen
Start: Thu, Oct 2, 12:30 GMT
Type of Session: Webinar
How to Get Started Trading Forex
Expert: Mark Whistler
Start: Thu, Oct 2, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Oct 1, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
| Thu, Oct 2, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Oct 2, 12:30 GMT | What may we expect for the rest of the year? | Adam Rosen | WBN |  |
| Thu, Oct 2, 15:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN | |
| Thu, Oct 2, 16:00 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN | |
Current Session: U.S.
GBP/USD
Mid−Day Forex Technical Report − Dollar and Yen Firm, Eye on Senate Vote by ActionForex.com
Dollar remains firm in US session after mixed data are released. Risk aversion seems to be back the the market again with yen crosses diving sharply lower, following weakness in US equity markets. All eyes are focusing on Senate vote on the $700b bailout plan this evening.
GBP/USD's fall resumes in early US session and dives to as low as 1.7634. At this point, intraday bias remains on the downside as long as 1.7873 minor resistance holds. Further fall is expected to retest 1.7445 low and long term fibonacci level of 50% retracement of 1.3680 to 2.1161 at 1.7421. On the upside, above 1.7873 will turn intraday outlook neutral first but another fall is still expected after brief recovery.
- Plan denied − Politics reign − Accusations Fly by Jerry Furst, Director at Investors Education Network
- 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 Majors Technical Analysis − 1,4025. EUR USD is in an downtrend directed by 1H exponential moving averages by Mataf.net
FX Thoughts for the Day − Relatively quiet day so far today by Kshitij Consultancy Service
Daily Forex News − Forex − Dollar rose on Tuesday help by higher Stock Exchange by ACM − Advanced Currency Markets
Forex Technical Report − USDCHF Trading Higher by ForexHound.com
Weekly Outlook
Weekly Update − The yuan is weaker vs. the dollar at 6.8431 by Union Bank of California
Technical analysis: Short Sterling − Short Sterling – March 2009 by Mizuho Corporate Bank
Forex Analysts' Blog
USD/JPY Update − Near Brink of Resistance by James Chen, Chief Technical Analyst at FX Solutions
Forex Signals
Daily Scalping Tip − Daily Scalping Tip by PipsandTips.com
Currencies at a Glance
- EUR/USD
- Trades below opening price level 1.4094 , below pivot level 1.4179
10/01/2008 15:39 GMT - GBP/USD
- Trades below opening price level 1.7805 , below pivot level 1.7893
10/01/2008 15:40 GMT - USD/CHF
- Trades around opening price level 1.1217 , above pivot level 1.1117
10/01/2008 15:40 GMT - USD/JPY
- Trades above pivot level 105.38
10/01/2008 15:41 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
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Oct 2 | 12:30 | ECB Trichet's Speech | - | - |
| Oct 2 | 11:45 | ECB Interest Rate Decision | 4.25% | 4.25% |
Euroland: ECB to ease faster and more by Danske Bank A/S
We have changed our interest rate projections for the ECB. We are now looking for the ECB to lower the leading rates by 25 bp in December 2008 and by a further 25 bp in both February and April 2009. Previously we expected the ECB to lower rates by 25 bp in both March and June 2009.
[ Full Story ]- PREVIEW−ECB seen on hold but under pressure to soften tone (Thomson Financial News)
- ECB WATCH: Rising Expectations of ECB Rate Cuts (Dow Jones)
Daily Market Briefing - Euro Tumbles As Weaker CPI Adds to Speculation of ECB Rate Cuts − Will They Do It? by FXCM
EMU economic indicators - ECB refi rate: reduction because of the financial markets crisis not to be ruled out by BHF−Bank
Top Market Movers Review
US ISM MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 1 | 14:00 | ISM Manufacturing | 43.5 | 49.5 | 49.9 |
DATA SNAP/ISM Mfg: US ISM Sep Index Shows Contraction In Mfg (Dow Jones)
Factory activity failed to grow in September, with the overall index reaching the lowest level since October 2001. The Institute for Supply Management said that its index of manufacturing activity came in at 43.5 in September compared with 49.9 in August and 50.0 in July.
[ Full Story ]- Read the Manufacturing data at ISM
- UPDATE: US ISM Mfg Sep Index Slips, Reading Lowest Since 2001 (Dow Jones)
- INSTANT VIEW 1−U.S. ISM index falls in Sept (Thomson Financial News)
- FOREX−Dollar falls to session low vs yen after ISM (Thomson Financial News)
Trading News Report - US ISM Manufacturing on Tap − Will the Dollar Give Back? by FXCM
US ADP EMPLOYMENT CHANGE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 1 | 12:15 | ADP Employment Change | -8K | -50K | -37K |
ADP Sees September US Private Sector Jobs −8,000 (Dow Jones)
Private sector jobs fell only 8,000 in the U.S. in September, according to the ADP national employment report, released Wednesday by payroll giant Automatic Data Processing (ADP) and consultantcy Macroeconomic Advisers.
[ Full Story ]- Read the Employment report at ADP
- UPDATE: ADP Survey Shows September Job Weakness (Dow Jones)
- Dollar Rallies Vs Euro As Oil Tumbles, ADP Surprises (Dow Jones)
- ADP SAYS U.S. AUGUST PAYROLL CHANGE REVISED TO LOSS 37,000 FROM LOSS OF 33,000 (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 1 | 14:00 | US | ISM Manufacturing (Sep) | 43.5 | 49.5 | 49.9 |
| 14:35 | US | EIA Crude Oil Stocks change (Sep 27) | 4.3M | -1.5M | ||
| 23:30 | JP | Monetary Base (YoY) (Sep) | -0.2% | |||
| Oct 2 | 01:30 | AU | Trade Balance (Aug) | -717M | ||
| 02:00 | NZ | ANZ Commodity Price (Sep) | -3.3% | |||
| 05:45 | CH | SECO Economic Forecasts (Sep) | ||||
| 06:00 | UK | Nationwide Housing Prices n.s.a (YoY) (Sep) | -12.6% | -10.5% | ||