Monday, Dec 01, 16:46 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Webinar Videos: High-Probability Forex Pattern Trading by James Chen
- All the events of the day in our Economic Calendar
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Forex Blogs
The Advisor Blog: Gbp/Jpy technical view by Valeria Bednarik
Here is where we can see very clear the two currencies actual strength commented earlier. The pair has break to the downside a tight range, and hit the 140.20 zone, first support for today, followed by 139.40 and then, the zone @ 138.80.
FX Path: USD/JPY - Expected Downtrend Continuation by James Chen
FX Market Readings: Massive moves for week beginning by Dr. S. Sivaraman
Live Sessions Schedule
The Forex Basic Training Program − Chapter IX
Expert: Wayne McDonell
Start: Tue, Dec 2, 09:00 GMT
Type of Session: Webinar
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Dec 2, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Dec 1, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Tue, Dec 2, 09:00 GMT | The Forex Basic Training Program − Chapter IX | Wayne McDonell | WBN |  |
| Tue, Dec 2, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Dec 2, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Tue, Dec 2, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: U.S.
EUR/USD
EUR USD is in a consolidation after the last bearish movement
Mataf.net − 1,2610. EUR USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are parallel and form the trend. ForexTrend 1H, daily (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue on 1,2440 support (170 pips).
=> We could take a short position at 1,2620. We will put the stop loss above 1,2710 (−90 pips). The targets are 1,2450 (+170 pips, risk/reward 1:1.9), 1,2400 (+220 pips, risk/reward 1:2.4) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative −> 4 Trend following): 2.
.
GBP/USD
Mid−Day Forex Technical Report − Yen Continues to Dominate as Stock Plunges on Recession Fear by ActionForex.com
GBP/USD's break of 1.5178 minor support indicates that corrective rise from 1.4557 should have completed with three waves up to 1.5534.
YEN CROSSES
Market Session Recaps − London Session by FOREX.com
USD/JPY shed more than −125 pips towards the 93.80/90 area while EUR/JPY was decimated more than −200 points into the 118.70/80 zone
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
GBP USD, Hourly
EUR USD, Hourly
Top Market Movers Preview
Japan BOJ MONETARY POLICY MEETING
| Date (GMT) | Event | Cons. | Previous | |
| Dec 2 | 05:00 | BoJ Interest Rate Decision | 0.3% | - |
| Dec 2 | 04:00 | BoJ Monetary Policy Meeting | - | - |
TOPWRAP 6−Slump hits world industry, BOJ calls crisis meet (Thomson Financial News)
European and Chinese industry activity slumped in November, Japanese officials said their economy was slowing rapidly and euro zone finance ministers gathered on Monday to discuss plans to curb recession.
[ Full Story ]- UPDATE 6−BOJ says to hold emergency meet on Tues (Thomson Financial News)
- UPDATE 5−BOJ says to hold emergency meet on Tues (Thomson Financial News)
Top Market Movers Review
US ISM MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 1 | 15:00 | ISM Manufacturing | 36.2 | 37.5 | 38.9 |
US ISM manufacturing Index dropped lower in November (FXstreet.com)
US manufacturing sector's activity failed to grow for fourth consecutive month in November, and the overall economy contracted for second consecutive month according to the latest Manufacturing Report on Business by the Institute of Supply Management.
[ Full Story ]- Read the Manufacturing data at ISM
- UPDATE − US manufacturing sags to weakest since 1982−ISM (Thomson Financial News)
- INSTANT VIEW 3−U.S. manufacturing tumbled in November (Thomson Financial News)
- US RATE FUTURES−Lean to 50 bps Fed cut on ISM (Thomson Financial News)
Mid−Day Forex Technical Report − Yen Continues to Dominate as Stock Plunges on Recession Fear by ActionForex.com
Daily Trading Forecast - Increasing Pressure on ECB to Lower Rates Soon by Swiss e Trade AG
US economic indicators - ISM indices (Nov): declining further by BHF−Bank
Canada GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 1 | 13:30 | Gross Domestic Product Annualized (QoQ) | 1.3% | 0.7% | 0.6% |
| Dec 1 | 13:30 | Gross Domestic Product (MoM) | 0.1% | 0.2% | -0.5% |
Canada economic growth robust in third quarter (Thomson Financial News)
Canada's economy grew slightly more than expected in the third quarter, expanding 1.3 percent on an annualized basis after stagnating in the first half of the year, Statistics Canada said on Monday. The U.S. economy contracted 0.5 percent in the same period.
[ Full Story ]- Read the GDP data at Statistics Canada
- UPDATE 2−Canada's economy rebounds in Q3, but recession seen (Thomson Financial News)
- UPDATE 1−Canada's economy robounds in Q3, but recession seen (Thomson Financial News)
- Canadian GDP grew faster than expected in the third quarter (FXstreet.com)
Daily Forex Technical Report − Dollar and Yen Mildly Firmer, Focus on Manufacturing Data by ActionForex.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 1 | 15:00 | US | Construction Spending (MoM) (Oct) | -1.2% | -0.9% | 0.0% |
| 15:00 | US | ISM Manufacturing (Nov) | 36.2 | 37.5 | 38.9 | |
| 18:45 | US | Fed's Bernanke Speech | ||||
| 20:00 | US | Treasury Secretary Paulson speech | ||||
| Dec 2 | 00:30 | AU | Current Account Balance (3Q) | -11.2B | -12.8B | |
| 00:30 | AU | Retail Sales (MoM) (Oct) | 0.1% | 0.2% | ||
| 00:30 | AU | Retail Sales Ex Inflation (QoQ) (Oct) | -1.1% | |||