Thursday, Oct 02, 16:26 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Special Coverage - ECB stays on hold, but Trichet is moving by FXstreet.com
- Special Coverage - Global Financial Crisis: Trying to settle down global uncertainty by FXstreet.com
- Webinar Videos: Risk Management by Valeria Bednarik
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
The ITC will take place in Barcelona, Woody Allen's favourite destination! by FXstreet.com
Come and enjoy the FXstreet.com International Traders Conference in one of the most exciting city of the world, Barcelona. Meet and learn from the best FX experts at the ITC, while you can visit this unequivocally Mediterranean city.
Barcelona offers you history, culture and leisure and will surely make of your stay an unforgettable experience.
Forex Blogs
FX Market Readings: US session expected moves After ECB story by Dr. S. Sivaraman
The expected moves happend during the ECB rate decision and the press conference time.The expected drop from the gap time happened just about 20 min earlier.
The Advisor Blog: Majors update by Valeria Bednarik
FxBootcamp: Forex Video | News Trade Alert | October 2, 2008 by Wayne McDonell
Live Sessions Schedule
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 29th Edition
Expert: Wayne McDonell
Start: Fri, Oct 3, 11:30 GMT
Sponsored by: 
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 | ||||
| Thu, Oct 2, 16:00 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN |  |
| Thu, Oct 2, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
| Fri, Oct 3, 11:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 29th Edition | Wayne McDonell | WBN | |
| Mon, Oct 6, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN |  |
| Mon, Oct 6, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN | |
Current Session: U.S.
EUR/USD
FXA Column − EURUSD, new lows but don't chase it.... by FXA
Longer term in eur/$, the market has finally broken below the Sept 11th low at 1.3885 (though warned that there was risk for more consolidating first). However, more important support lies just below there at 1.3625/40 (50% retracement from the Nov 2005 low at 1.1645) then 1.3625/65 (both the base of the nearly 3 year bullish channel and the Dec 2004 high, see weekly chart below). Note too that the $ has not reached new highs versus other major currencies (at least so far, potential divergence) while the recent push lower may be part of a larger correction from the July high at 1.6035 (A−B−C) and not the start of a major, new downleg.
- 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:
Mid−Day Forex Technical Report − Euro Dives Further after Trichet, $ Index above 80 by ActionForex.com
Daily Analysis − Dollar up on Bailout Plan approval by Finotec Group Inc.
Banks' Analysis
Today's Technical Trading Points − Update by Danske Bank A/S
Monthly Outlook
Monthly Technical Outlook − Monthly Technical Outlook by Mizuho Corporate Bank
Forex Analysts' Blog
EUR/USD Update − Prolonged Bearish Run by James Chen, Chief Technical Analyst at FX Solutions.
Forex Signals
Spot Forex Trades − 10pips EURUSD Mission Accomplished by ForexSurvivor
Currencies at a Glance
- EUR/USD
- Trades below second support level 1.3853
10/02/2008 15:22 GMT - GBP/USD
- Trades around first support level 1.7595
10/02/2008 15:22 GMT - USD/CHF
- Trades around second resistant level 1.1377
10/02/2008 15:23 GMT - USD/JPY
- Moves down below first support level 105.20
10/02/2008 15:23 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 PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Cons. | Previous | |
| Oct 3 | 08:00 | Purchasing Manager Index Services | - | 48.5 |
EMU economic indicators - No revisions expected by BHF−Bank
The turmoil in financial markets has intensified recently and is weighing on consumers and companies. We do not expect any significant revisions for the final RBS−PMI indices for September.
[ Full Story ]Top Market Movers Review
US FACTORY ORDERS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 2 | 14:00 | Factory Orders | -4.0% | -1.8% | 0.7% |
DATA SNAP: US Aug Factory Orders Down More Than Expected (Dow Jones)
Factory orders plunged during August, dropping even more than expected in another sign of weakness within manufacturing and the overall economy. Orders for manufactured goods decreased 4.0%, following a sharp, downwarldy revised 0.7% increase in July, the Commerce Department said Thursday.
[ Full Story ]- Read the Factory Orders data at Census Bureau
- US August factory orders down 4.0%, ex−transportation down 3.3% (Thomson Financial News)
- Factory orders decline more than expected in August (FXstreet.com)
- US Factory Orders fall by 4% in Aug (FXstreet.com)
US economic indicators - Factory orders are likely to have dropped markedly by about 3% mom in August by BHF−Bank
EMU ECB TRICHET'S SPEECH
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 2 | 12:30 | ECB Trichet's Speech | - | - | - |
| Oct 2 | 11:45 | ECB Interest Rate Decision | 4.25% | 4.25% | 4.25% |
Mid−Day Forex Technical Report − Euro Dives Further after Trichet, $ Index above 80 by ActionForex.com
Euro dives further in early US session after ECB Trichet left rates unchanged at 4.25% but delivered a much softer message in the following press conference. A few points to note. Firstly, the governing council did discussed two options, on hold and cut rates, even though the rate to hold rates was unanimous.
[ Full Story ]- Read the Interest Rate decision at ECB
- FX Market Readings: ECB decision and press conference − expected moves before and after by Dr. S. Sivaraman
- Read Jean−Claude Trichet's Introductory statement at ECB
- FXNEWS−ECB to hold rates for rest of year−Economy.com (Thomson Financial News)
- EUR/USD: The Euro dives further on Trichet's speech (FXstreet.com)
- ECB not immune to lower inflation, growth−Solbes (Thomson Financial News)
Central Banks: ECB - ECB stays on hold, but Trichet is moving by FXstreet.com
European Market Update - Is the ECB in denial or the first of possible October surprises? by TradeTheNews.com
Spot Forex Trades - Trichet − High Volatility by ForexSurvivor
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 2 | 12:30 | US | Continuing Jobless Claims (Sep 20) | 3591K | 3540K | 3542K |
| 14:00 | US | Factory Orders (Aug) | -4.0% | -1.8% | 0.7% |
|
| Oct 3 | 05:45 | CH | Consumer Price Index (MoM) (Sep) | -0.1% | -0.3% | |
| 05:45 | CH | Consumer Price Index (YoY) (Sep) | 2.7% | 2.9% | ||
| 07:55 | DE | Purchasing Manager Index Services (Sep) | 49.3 | 51.4 | ||
| 08:00 | EMU | Purchasing Manager Index Services (Sep) | 48.5 | |||
| 08:30 | UK | Housing Equity Withdrawal (QoQ) (2Q) | 2.50B | 5.04B | ||