Thursday, Dec 04, 16:48 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: Euro and Gbp update by Valeria Bednarik
At this time both majors are breaking up the key levels mentioned during the live coverage, seems agressive rate cuts are favoring Europeans. Next targets are 1.4720 por Gbp ( the most reluctant one) and 1.2710 and 1.2753 for Euro.
Forex Trading Today: Here come the Beaurocrats…but I’m on Mute! by Tim Salem
FX Path: USD/CAD - Riding the Uptrend Line by James Chen
Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Dec 4, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 31st Edition
Expert: Wayne McDonell
Start: Fri, Dec 5, 12:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Dec 4, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN |  |
| Thu, Dec 4, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Fri, Dec 5, 12:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 31st Edition | Wayne McDonell | WBN | |
| Mon, Dec 8, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN |  |
| Mon, Dec 8, 14:00 GMT | Year end Fundamental Review | Adam Rosen | WBN | |
Current Session: U.S.
EUR/JPY
Forex Markets Steady after Rate Cuts from ECB and BoE
ActionForex.com − EUR/JPY remains solft and continues to press 116.47 support. At this point, intraday bias remains on the downside as long as 119.44 minor resistance holds. Break of 116.47 support will bring retest of 113.63 low first and break there will confirm that medium term down trend has resumed. On the upside, though, above 119.44 will turn intraday outlook neutral again. Further break of 126.24 will indicate that corrective rise from 113.63 is in progress to 131.02 or above before completion.
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EUR/USD
EUR USD is in a range between 1,2575 and 1,2770 by Mataf.net
1,2624. EUR USD is in a range between 1,2575 and 1,2770. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100).
GBP/USD
Daily Technical Strategist − GBP Remains Poised To Decline Further Towards The 1.5265 Level by FXTechstrategy
GBP Remains Poised To Decline Further Towards The 1.5265 Level− With the evening star candle pattern (top reversal signal) formation referenced in our weekly analysis triggering further lower prices Monday.
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
Germany FACTORY ORDERS S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Dec 5 | 11:00 | Factory Orders n.s.a. (YoY) | -11.2% | -2.7% |
| Dec 5 | 11:00 | Factory Orders s.a. (MoM) | 0.4% | -8.0% |
Friday Notes - Further weakness in the pipeline by HVB Group
As published four weeks ago, manufacturing orders fell by 8% m−o−m, which was a record since German reunification. We expect this pattern to be partly reversed. However, the trend clearly points south, as the weakening global economy will increasingly weigh both on exports and new orders.
[ Full Story ]- INSTANT VIEW 2−US factory orders fall sharply in October (Thomson Financial News)
Top Market Movers Review
US FACTORY ORDERS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 4 | 15:00 | Factory Orders | -5.1% | -4.0% | -2.5% |
DATA SNAP: US Oct Factory Orders Fall Less Than Expected (Dow Jones)
Factory orders took the biggest plunge in eight years during October, and a key barometer of capital spending by businesses dived as the slumping economy causes firms to curb their plans.
[ Full Story ]- Read the Factory Orders data at Census Bureau
- UPDATE 1−US factory orders fall sharply for third month (Thomson Financial News)
- INSTANT VIEW 7−US factory orders fall sharply in October (Thomson Financial News)
- INSTANT VIEW 6−US factory orders fall sharply in October (Thomson Financial News)
Mid−Day Forex Technical Report − Forex Markets Steady after Rate Cuts from ECB and BoE by ActionForex.com
US economic indicators - Factory orders (Oct): dropping significantly for the third consecutive month by BHF−Bank
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 4 | 12:45 | ECB Interest Rate Decision | 2.50% | 2.75% | 3.25% |
ECB Cuts Refi Rate To 2.50% From 3.25% (Dow Jones)
The European Central Bank Thursday announced an unprecedented 75−basis−point cut to its main monetary policy rate, bringing it down to 2.5%. The move surprised the majority of ECB watchers, and plays into the hands of market participants who were prepared for a deeper cut.
[ Full Story ]- Read the Official Statement at ECB
- Italy Fin Min Welcomes ECB Rate Cut, Says Rates Reasonable (Dow Jones)
- UPDATE 4−ECB cuts rates record 75 bps, prices to hit target (Thomson Financial News)
- TEXT−European Central Bank monetary policy statement (Thomson Financial News)
Mid−Day Forex Technical Report − Forex Markets Steady after Rate Cuts from ECB and BoE by ActionForex.com
Central European Daily - CEE currencies in wait and see mode ahead of ECB by KBC Bank
Daily Forex Technical Report − ECB and BoE in Focus by ActionForex.com
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 4 | 12:00 | BoE Interest Rate Decision | 2% | 2% | 3% |
Bank Of England Cuts Bank Rate To 2.0% From 3.0% (Dow Jones)
The Bank of England slashed the U.K. Bank rate Thursday by 100 basis points to 2.0% in a dramatic attempt to buoy up the ailing U.K. economy. The last time the BOE's key rate was cut to this level was in October 1939. It has never been lower since the central bank was founded in 1694.
[ Full Story ]- UPDATE 2−BoE cuts rates to 2 pct, says more action needed (Thomson Financial News)
- UK's Brown says doesn't want to keep RBS stake for long (Thomson Financial News)
- Britain's Brown says rates could fall further (Thomson Financial News)
Mid−Day Forex Technical Report − Forex Markets Steady after Rate Cuts from ECB and BoE by ActionForex.com
UK: Interest Rates Forecast to Crash to 1% by Marketoracle.co.uk
KBC News Picks - EMU: Retail sales surprise on the downsideWeak PMI figures increase pressure on BoEWeak PMI figures increase pressure on BoE by KBC Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 4 | 15:00 | US | Factory Orders (Oct) | -5.1% | -4.0% | -2.5% |
| 16:15 | US | Fed's Bernanke Speech | ||||
| Dec 5 | 05:30 | AU | Foreign Reserves (Nov) | 44.889B | ||
| 11:00 | DE | Factory Orders n.s.a. (YoY) (Oct) | -11.2% | -2.7% | ||
| 11:00 | DE | Factory Orders s.a. (MoM) (Oct) | 0.4% | -8.0% | ||
| 12:00 | CA | Net Change in Employment (Nov) | -15.0K | 9.5K | ||
| 12:00 | CA | Unemployment Rate (Nov) | 6.4% | 6.2% | ||