Wednesday, Oct 08, 15:51 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Special Coverage - Global 50bp rate cut by FXstreet.com
- Read all the CB relate contents and combine your favorite tags
- What are the World Indices doing right now?
- Webinar Videos: Outlook for the major currencies this week by Ian Copsey
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The Banks Madness
Global 50bp rate cut by FXstreet.com
The euro hit an intraday high Wednesday morning as foreign exchange traders in New York woke up to emergency coordinated rate cuts, triggering a modest dollar sell−off. The U.S. Federal Reserve was joined by the Bank of Canada, the Bank of England, the European Central Bank, Sveriges Riksbank and the Swiss National Bank in reducing their respective policy interest rates in response to widening concerns on a global economic slowdown. The People's Bank of China also cut its one−year yuan lending rate. While the safe haven currency weakened on the news, the sell−off did not hugely shift currencies from recent ranges.
- Read all the relate contents and combine your favorite tags
- Joint Statement by Central Banks at Federal Reserve website
- Euro Hits Intraday High As Dollar Declines On Rate Cuts (Dow Jones)
Forex Blogs
| Country | Actual | Previous |
| CAD Overnight Rate | 2.50% | 3.00% |
| CHF Libor Rate | 2.50% | 2.75% |
| EUR Minimum Bid Rate | 3.75% | 4.25% |
| GBP Official Bank Rate | 4.50% | 5.00% |
| USD Federal Funds Rate | 1.50% | 2.00% |
New rates around the world by Valeria Bednarik
Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, Oct 8, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading and Identifying Volatility in the Forex
Expert: John Jagerson
Start: Thu, Oct 9, 12:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Oct 8, 16:00 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN |  |
| Wed, Oct 8, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Oct 9, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Oct 9, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Thu, Oct 9, 12:30 GMT | Trading and Identifying Volatility in the Forex | John Jagerson | WBN | |
Current Session: U.S.
USD/JPY
Daily FX Report − The financial crisis has reached the economy of Germany by Varengold Wertpapierhandelsbank AG
The USD/JPY seems to be resilient for a further Nikkei tumble, some traders say. After a 5% fall in Nikkei index there was some expectations about a pressure on cross/JPY pairs. But overall the FX move is as traders said, the market waits for a coordinated policy response to the worsening global crisis. The USD/JPY is down 0.2% on the day, hitting a session low of 101.07 before recovering to 101.30. The EUR/JPY falls to 137.75, but remains over its session low of 137.19. The AUD/JPY holds also off its lows at 72.05, down around 1% on the day.
- New rates aroudn the world by Valeria Bednarik, analyst and foreign manager at MolFX − Management
- 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:
Daily Technical Strategist − EURUSD: Momentum Subsides, Nearer Term Corrective Recovery Could Shaping Up by FXTechstrategy
Currency Majors Technical Analysis − 1,3671. EUR USD is in an downtrend directed by 1H exponential moving averages by Mataf.net
FX Thoughts for the Day − FX Thoughts for the Day by FXCM
Monthly Performance
Today's Technical Trading Points − Performance September 2008 by Danske Bank A/S
Weekly Outlook
Technical analysis: Short Sterling − Short Sterling – March 2009 by Mizuho Corporate Bank
Analysts' Blogs
Unprecedented Times by James Chen, Chief Technical Analyst at FX Solutions.
Currencies at a Glance
- EUR/USD
- Trades below first resistant level 1.3727
10/08/2008 14:03 GMT - GBP/USD
- Moves down below pivot level 1.7476
10/08/2008 14:03 GMT - USD/CHF
- Trades around first support level 1.1339
10/08/2008 14:03 GMT - USD/JPY
- Moves up back around first support level 100.60
10/08/2008 14:05 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
Germany TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Oct 9 | 06:00 | Trade Balance | 12.0B | 13.9B |
EMU economic indicators - The German trade balance might have rebounded somewhat by BHF−Bank
The German trade balance might have rebounded somewhat in August, after it had declined unexpected heavily in July. However, the German current account is likely to have continued deteriorating in August.
[ Full Story ]Top Market Movers Review
US PENDING HOME SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 8 | 14:00 | Pending Home Sales (MoM) | 7.4% | -1.1% | -3.2% |
US August pending home sales jump 7.4 pct − NAR (Thomson Financial News)
Pending sales of existing U.S. homes unexpectedly jumped in August to the highest level in over a year, data from a real estate trade group showed on Wednesday. The National Association of Realtors Pending Home Sales Index, based on contracts signed in June, rose 7.4 percent in August to 93.4 from an updwardly revised index of 87.0 in July.
[ Full Story ]- US August pending home sales index rises 7.4% to highest level since June 07 (Thomson Financial News)
- US Pending Home Sales Make Surprising Leap In August (Dow Jones)
- US pending home sales boost unexpectedly in August (FXstreet.com)
Trading News Report - U.S. Pending Home Sales to Fall Further − Will the Dollar Give Back? by FXCM
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 8 | 14:00 | US | Pending Home Sales (MoM) (Aug) | 7.4% | -1.1% | -3.2% |
| 14:35 | US | EIA Crude Oil Stocks change | 8.1M | 2.0 | 4.3M | |
| 23:50 | JP | Core Machinery Orders (MoM) (Aug) | -2.7% | -3.9% | ||
| Oct 9 | 00:00 | G7 Meeting | ||||
| 00:30 | AU | Employment Change (Sep) | 0.0K | 14.6K | ||
| 00:30 | AU | Unemployment Rate (Sep) | 4.3% | 4.1% | ||
| 01:00 | AU | Consumer Inflation Expectation (Oct) | 4.4% | |||