Monday, Dec 08, 16:55 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
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
FX Path: USD/CAD − Massive Retreat from Triple−Tested 1.3000 by James Chen
As of early Monday morning in New York, price action on the USD/CAD daily chart has continued a substantial retreat from a precise triple−test of the 1.3000 resistance level.
The Advisor Blog: At the beginning (Eur/Usd follow up) by Valeria Bednarik
FX Market Readings: Today’s sentiments for the majors - 08 Dec. by Dr. S. Sivaraman
Live Sessions Schedule
Recognizing the Gaps
Expert: Carlos Rocha
Start: Tue, Dec 9, 13:00 GMT
Type of Session: Webinar
Topics
− Other Gap Patterns
− Breakaway Gaps
− Runaway Gaps
− Exhaustion Gaps
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Dec 9, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Dec 8, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Tue, Dec 9, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Dec 9, 13:00 GMT | Recognizing the Gaps | Carlos Rocha | WBN |  |
| Tue, Dec 9, 15:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
| Tue, Dec 9, 16:00 GMT | Trading with Autochartist | Raghee Horner | WBN | |
Current Session: U.S.
EUR/USD
Currencies and Equities Recover as Aid is on the Way
GFT (Global Forex Trading) − If the equity market managed to rally despite news that 533k jobs were lost from the US economy last month, then Obama's pledge to increase spending this weekend and the developments for the Big 3 automakers will only help. Risk appetite appears to be slowly returning to the markets with the low yielding US dollar and Japanese Yen losing ground to higher yielding currencies such as the Euro, Australian and New Zealand dollars.
.
EUR/USD
EUR USD is in a consolidation after the last bullish movement by Mataf.net
The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The uptrend should continue on 1,3100 resistance (204 pips).
Euro and Aussie Firm as US Stock Markets Rise by ActionForex.com
Euro and Aussie remain firm in early US session as stock markets opened higher, buoyed by Obama's spending plan to create 2.5m jobs. Both the greenback and yen recover a bit against Sterling and Canadian dollar. However, note that DOW's break of 8828 resistance confirms that recent rebound is resuming for 9500 level, risk aversion trades will continue to recede and hence, dollar and yen will likely remain pressured in short term.
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 ZEW SURVEY − ECONOMIC SENTIMENT
| Date (GMT) | Event | Cons. | Previous | |
| Dec 9 | 10:00 | ZEW Survey − Economic Sentiment | - | -53 |
EMU economic indicators - German ZEW economic sentiment (December): down by BHF−Bank
The German ZEW economic sentiment will probably have deteriorated in December, just like the ifo business expectations and the US ISM manufacturing index. The German yield spread has improved, but only because short−term interest rates have decreased more than long−term rates.
[ Full Story ]Top Market Movers Review
Canada HOUSING STARTS S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 8 | 13:15 | Housing Starts s.a (YoY) | 172.0K | 194.0K | 211.8K |
Canada − November Housing starts slump 18.8% to 172k of rate (FXstreet.com)
The annual rate of housing starts in Canada has fallen more than expected in November, posting the lowest level in 2008, as the Canada mortgage and Housing Corporation published today.
[ Full Story ]- Read the Housing Starts data at CMHC
- UPDATE 1−Canada housing starts drop 19 pct, rate at 7−yr low (Thomson Financial News)
- Canada housing starts fell in November (Thomson Financial News)
- Canadian Housing Starts Moderate in November to 172K (FXstreet.com)
Weekly Economic Letter - Update on global housing market by National Bank of Canada
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 8 | 13:15 | CA | Housing Starts s.a (YoY) (Nov) | 172.0K | 194.0K | 211.8K |
| 14:30 | EMU | ECB Trichet's Speech | ||||
| 23:50 | JP | Gross Domestic Product (QoQ) (3Q) | -0.2% | -0.7% | ||
| 23:50 | JP | Gross Domestic Product Annualized (3Q) | -0.9% | -3.0% | ||
| Dec 9 | 00:01 | UK | BRC Retail Sales Monitor − All (YoY) (Nov) | -2.2% | ||
| 00:01 | UK | NIESR GDP Estimate (Nov) | -0.5% | |||
| 00:01 | UK | RICS House Price Balance (Nov) | -82% | |||