Monday, Oct 06, 16:23 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Special Coverage - Will there be a European Bailout plan? by FXstreet.com
- Euro Trading at 1.35, USD/JPY Breaks 103 - What's Going On? by GFT (Global Forex Trading)
- Live Technical Analysis Workshop with Sunil Mangwani in Barcelona on November 1st - Special discount for ITC attendees!
- Webinar Videos: What may we expect for the rest of the year? by Adam Rosen
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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 cities 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: Panic reactions by Dr. S. Sivaraman
All the markets are under the grip of panicness. Many wanted to stay in cash rather than making any commitments in the market. A financial turmoil. Many financial Institutions are liquidating positions in fear of crisis. Some day they may try to probe where all the money gone to.
FX Path: EUR/USD − Prolonged Bearish Run 2 by James Chen
Chartology: Guest Post: "You…Me…The "Two W's" ….and Expectation" by CVJ by Raghee Horner
Live Sessions Schedule
Outlook for the major currencies this week
Expert: Ian Copsey
Start: Tue, Oct 7, 08:00 GMT
Type of Session: Webinar
Dan Blystone's Daily Briefing
Expert: Dan Blystone
Start: Tue, Oct 7, 12:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Oct 6, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Tue, Oct 7, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Tue, Oct 7, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Oct 7, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Tue, Oct 7, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN | |
Current Session: U.S.
EUR/USD
Euro Trading at 1.35, USD/JPY Breaks 103 − What's Going On? by GFT (Global Forex Trading)
The Euro on the other hand came under further selling pressure as the region's own problems come to the forefront. There was a fundamental shift in the outlook for the EUR/USD last week after ECB President Trichet signaled to the markets that he is ready to cut interest rates. At this point, it is realistic to expect that the ECB to ease monetary policy in November if not sooner.
Now that the EUR/USD is more than 14 percent off its July highs, traders may be wondering how much further the currency pair can fall. Based upon purchasing power parity, the Euro does not hit fair value until approximately 1.15. Purchasing parity has its flaws because it only compares the price of a specific good or basket of goods and it does not take into consideration the quality of the goods. Nonetheless, understanding what the PPP value of the EUR/USD is allows us to understand possible value points for the Euro.
- What may we expect for the rest of the year? by Adam Rosen, CEO and Co−Founder at 4xLounge
- 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:
FX Options trade alert by Trading Central
The Euro and British Pound Come Down to Earth by Money and Markets
Mid−Day Forex Technical Report − Dollar and Yen Surge as Global Stocks Tumble by ActionForex.com
Currency Majors Technical Analysis by Mataf.net
Weekly Outlook
Weekly Technical Commentary by Mizuho Corporate Bank
Forex Analysts' Blog
EUR/USD − Prolonged Bearish Run 2 by James Chen, Chief Technical Analyst at FX Solutions.
Forex Signals
Weekly Forex Signals − BOE could cut rates after dollar continues to dominate against Sterling by Finotec Group Inc.
Currencies at a Glance
- EUR/USD
- Moves down below third support level 1.3497
10/06/2008 15:54 GMT - GBP/USD
- Trades below second support level 1.7435
10/06/2008 15:54 GMT - USD/CHF
- Moves up above second resistant level 1.1479
10/06/2008 15:54 GMT - USD/JPY
- Moves up back above 101.00 , below third support level 102.78
10/06/2008 15:55 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
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Oct 7 | 05:00 | BoJ Interest Rate Decision | - | 0.5% |
UPDATE − Japan econ min sceptical of any BOJ rate cut impact (Thomson Financial News)
Japan's economics minister questioned the effectiveness of any interest rate cut by the Bank of Japan on Friday, downplaying market speculation of joint rate cuts by major central banks amid worsening financial turmoil.
[ Full Story ]- JGBs climb as BOJ rate cut expectations grow (Thomson Financial News)
- Japan Outlook: BOJ 2−Day Policy Board Meeting Begins (Dow Jones)
Top Market Movers Review
Canada IVEY PURCHASING MANAGERS INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 6 | 14:00 | Ivey Purchasing Managers Index | 61.0 | 51.0 | 51.5 |
Canada Ivey PMI increases strongly against expectations in September (FXstreet.com)
Canadian Ivey Purchasing Manager's Index has posted a considerable increase in September, against expectations of a slight decline. The Ivey Purchasing Manager's Index has jumped 9.5 points to 61.0 from 51.5 in August, while market analysts had advanced a reading around 51.0 for September.
[ Full Story ]- Read the PMI data at Richard Ivey School of Business
- BANK OF CANADA INJECTS C$800 MLN IN SPECIAL PURCHASE AND RESALE AGREEMENTS (Thomson Financial News)
- Canada Morning: C$ Dn At 17−Mo Lows On Surge In Risk Aversion (Dow Jones)
- Canada Ivey Purchasing Managers Index up to 61.0 in September (FXstreet.com)
Canada BUILDING PERMITS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 6 | 12:30 | Building Permits (MoM) | -13.5% | -1.4% | 1.8% |
Canada building permits plunge in August (FXstreet.com)
Canadian housing sector's activity seems likely to slow down severely over the next months, according to the latest building permits reading, which posted a well larger than expected decline, with lower levels in all provinces and in all sorts of buildings, according to data released by Statistics Canada.
[ Full Story ]- Read the Building Permits data at Statistics Canada
- BANK OF CANADA INJECTS C$800 MLN IN SPECIAL PURCHASE AND RESALE AGREEMENTS (Thomson Financial News)
- Canada does not have crisis, prime minister says (Thomson Financial News)
- Canada Building Permits plunge 13.5% in Aug (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 6 | 12:30 | CA | Building Permits (MoM) (Aug) | -13.5% | -1.4% | 1.8% |
| 14:00 | CA | Ivey Purchasing Managers Index (Sep) | 61.0 | 51.0 | 51.5 | |
| 21:00 | NZ | NZIER Business Confidence (3Q) | -64 | |||
| 23:01 | UK | NIESR GDP Estimate (Sep) | -0.2% | |||
| Oct 7 | 03:30 | AU | RBA Interest Rate Decision | 6.5% | 7.0% | |
| 05:00 | JP | BoJ Interest Rate Decision | 0.5% | |||
| 05:00 | JP | Coincident Index (Aug)  | 103.5% | 103.5% | ||