Wednesday, Dec 03, 17:08 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Webinar Videos: The Weather Report: Ichimoku Cloud Trading by Chris Capre
- All the events of the day in our Economic Calendar
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Forex Blogs
The Advisor Blog: News in the U.S. by Valeria Bednarik
The first tandem of news, has left majors more or less where they were, but the Americans are here! Stocks are falling apart, as optimism fells to the floor after the bad readings.
FX Market Readings: A drop and a rise for the day by Dr. S. Sivaraman
Forex Trading Today: Is Godzilla drinking our Black Gold? by Tim Salem
Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, Dec 3, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Range bound and Trending Markets
Expert: Adam Rosen
Start: Thu, Dec 4, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Dec 3, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Dec 4, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Dec 4, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Thu, Dec 4, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Thu, Dec 4, 15:00 GMT | Trading Range bound and Trending Markets | Adam Rosen | WBN | |
Current Session: U.S.
EUR/USD
EURUSD: Downside Weakness Still Holds
EURUSD: Even as the pair's decline off the 1.3081 level, its Nov 25'08 high saw some respite Tuesday rallying higher, as long as its ST falling trendline drawn from the 1.3298 high(Oct 30'08 high) or even the 1.3081 resistance level is not invalidated, EUR should likely push towards YTD low at 1.2330.Taking out the latter will resume its medium term decline now on hold towards the 1.2134 level, its .50 Ret (its 0.8231−1.6038 high, monthly chart) and later the 1.1827 level, its Mar'06 low.
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USD/CAD
Mid−Day Forex Technical Report − Yen Surges after Poor Services and Job Data from US by ActionForex.com
USD/CAD's strong rally and sustained trading above 1.2478 confirms that correction from 1.2984 has completed at 1.2125 already, contained above 1.2908 support as expected.
MONTHLY OUTLOOK
Monthly Forecasts − Slovakia: December 2008 by Erste Bank der oesterreichischen Sparkassen AG
The koruna witnessed higher volatility in past month; although far smaller than neighboring currencies in the region thanks to euro adoption shield (the koruna will reach the level of conversion rate 30.1260 SKK/EUR by the end of the year).
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
EMU GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Dec 4 | 10:00 | Gross Domestic Product s.a. (QoQ) | -0.2% | -0.2% |
| Dec 4 | 06:45 | Gross Domestic Product (YoY) | 1.8% | 2.3% |
EMU economic indicators - EMU GDP: No revisions expected by BHF−Bank
German retail sales probably remained unchanged in October, as retailers' business assessment improved and consumer confidence deteriorated. We do not expect any significant revisions for the final PMI indices for November, nor for EMU GDP in Q3 2008.
[ Full Story ]Top Market Movers Review
US ISM NON−MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 3 | 15:00 | ISM Non−Manufacturing | 37.3 | 42.0 | 44.4 |
DATA SNAP: US Service Sector Shrinks In November (Dow Jones)
Service sector activity in the U.S. dropped deeper into recession in November. A report from the Institute for Supply Management said Wednesday that the group's overall index for non−manufacturing activity slid to 37.3 in November, from 44.4 in October. Economists surveyed by Dow Jones Newswires had expected a reading of 42.
[ Full Story ]- Read the Non−Manufacturing Report at ISM
- UPDATE: DATA SNAP: US Service Sector Report Worst On Record (Dow Jones)
- INSTANT VIEW 3−US service sector index slumps in November (Thomson Financial News)
- INSTANT VIEW 2−US service sector index slumps in November (Thomson Financial News)
Mid−Day Forex Technical Report − Yen Surges after Poor Services and Job Data from US by ActionForex.com
Daily Market Briefing - US Dollar Holds To Wide Ranges, ISM Services Forecasted to Hit Record Low on Wednesday by FXCM
Daily Forex Technical Report − Dollar and Yen to Resume Rally Cautiously, Focus on Services Data by ActionForex.com
US NONFARM PRODUCTIVITY
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 3 | 13:30 | Nonfarm Productivity | 1.3% | 0.9% | 3.6% |
| Dec 3 | 13:30 | Unit Labor Costs | 2.8% | 3.6% | -2.3% |
DATA SNAP: US Productivity In 3Q Revised Up Unexpectedly (Dow Jones)
U.S. productivity during the third quarter climbed even more than first thought while output dropped, as companies slashed payrolls in response to a sinking economy.
[ Full Story ]- Read the Nonfarm Productivity data at Department of Labor
- U.S. non−farm productivity rises 1.3 pct in Q3 (Thomson Financial News)
- US labor productivity, revised up in the third quarter (FXstreet.com)
- TABLE−U.S. Q3 non−farm productivity revised to +1.3 pct (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 3 | 15:00 | US | ISM Non−Manufacturing (Nov) | 37.3 | 42.0 | 44.4 |
| 15:35 | US | EIA Crude Oil Stocks change (Nov 28) | -0.4M | 7.3M | ||
| 19:00 | US | Fed's Beige Book | ||||
| 20:00 | NZ | RBNZ Interest Rate Decision | 5.0% | 6.5% | ||
| Dec 4 | 00:30 | AU | Building Permits (MoM) (Oct) | 0.2% | -7.2% | |
| 00:30 | AU | Building Permits (YoY) (Oct) | -21.5% | -21.6% | ||
| 00:30 | AU | Trade Balance (Oct) | 1.45B | 1.46B | ||