Tuesday, Dec 09, 17:09 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Webinar Videos: Advanced Forex Trading: Momentum Versus Reversals Within Indicators by Mark Whistler
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Path: EUR/USD − Coiling Up for an Aggressive Move by James Chen
Price action on the EUR/USD daily chart, as shown, has been coiling up within a triangle consolidation, likely in preparation for a major impending directional move. Like other pairs that are currently entrenched within triangles, EUR/USD has been respecting the borders of its triangle, unwilling to commit to a decisive direction as of yet.
The Advisor Blog: Gbp/Usd under pressure by Valeria Bednarik
FX Market Readings: Today’s sentiments for the majors - 09 Dec. by Dr. S. Sivaraman
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Dec 10, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Dec 10, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Dec 9, 17:00 GMT | Longer−term Support and Resistance Trading: Setups and Rules | Rob Booker | WBN |  |
| Tue, Dec 9, 18:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
| Wed, Dec 10, 10:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Dec 10, 11:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Dec 10, 13:00 GMT | Trading Range bound and Trending Markets | Adam Rosen | WBN | |
Current Session: U.S.
EUR/USD
Hopes of an automaker rescue and Government spending pushed the Dollar and Yen lower
ACM − Advanced Currency Markets − The Dollar fell on Monday as President−elect Barack Obama's plan for massive infrastructure spending lifted global stock markets, spurring investors to reduce holdings of safe−haven Dollars and take on more risk. EurUsd Market is trading in the last 6−week trading range 1.2330 – 1.3298 but trying to break up the triangle consolidation pattern. This may open the way to 1.3500 target equal to 1.3302−1.2334 spread.
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EUR/USD
EUR/USD: (1.2868) Back above 1.2767 by KBC Bank
Pair reapproached 1.2527 but managed strong rebound: now back above 1.2767: Support area at 1.2840 (daily envelope bottom), with next levels at 1.2804 (daily Short Term Moving Average↑), ahead of 1.2743/ .2727 (daily Long Term Moving Average→/ daily Bollinger midline) and 1.2777 (break−up hourly), where pause favored.
USD/CAD
Trading the Bank of Canada Interest Rate Decision by FXCM
The Canadian dollar could face increased selling pressures over the next 24 hours of trading as the Bank of Canada is widely expected to lower the benchmark interest rate by another 50bp to 1.75% as policymakers attempt to sterilize the spillover effects of the credit crisis.
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
US WHOLESALE INVENTORIES
| Date (GMT) | Event | Cons. | Previous | |
| Dec 10 | 15:00 | Wholesale Inventories | 0.1% | -0.1% |
US economic indicators - Wholesale inventories are likely to have dropped by BHF−Bank
Wholesale inventories declined by 0.1% mom in September, and they are likely to have dropped again by 0.3% mom in October. Total business inventories might also have gone down again by 0.3% mom, given that the ISM inventories component was a mere 44.3, indicating contraction.
[ Full Story ]Top Market Movers Review
US PENDING HOME SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 9 | 15:00 | Pending Home Sales (MoM) | -0.7% | -3.0% | -4.3% |
US Pending Home Sales Dip In October − Realtors (Dow Jones)
A forecasting gauge of home sales dipped in October, but the decline was much smaller than expected. The National Association of Realtors' index for pending sales of previously owned homes decreased 0.7% to 88.9 from 89.5 in September, the industry group said Tuesday.
[ Full Story ]- UPDATE: Gauge On Future Home Sales Dips In October (Dow Jones)
- Dollar Pares Gains Against Euro After US Housing Data (Dow Jones)
- UPDATE 1−US pending home sales fell modestly in Oct (Thomson Financial News)
US economic indicators - Pending home sales might have fallen again by BHF−Bank
Canada BOC INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 9 | 14:00 | BoC Interest Rate Decision | 1.50% | 1.75% | 2.25% |
Canada Takes Interest Rates to 50 Year Low by GFT (Global Forex Trading)
The Bank of Canada took interest rates to a 50 year low this morning of 1.5 percent and signaled that further monetary stimulus may be needed. Their next rate decision is on January 20th and there is a strong chance that the central bank will take interest rates down to 1 percent.
[ Full Story ]- Read the Official Statement at BoC
- Canada Morning: C$ Down Sharply On USD Strength, BOC Rate Cut (Dow Jones)
- UPDATE: Canada Dollar Down After BOC Rate Cut; USD At C$1.2710 (Dow Jones)
- Canada Dollar Down After BOC Rate Cut; USD At C$1.2710 (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 9 | 14:00 | CA | BoC Interest Rate Decision | 1.50% | 1.75% | 2.25% |
| 15:00 | US | Pending Home Sales (MoM) (Oct) | -0.7% | -3.0% | -4.3% |
|
| 21:45 | NZ | Terms of Trade Index (3Q) | -2.6% | -0.5% | ||
| 22:00 | US | ABC/Washington Post Consumer Confidence (Dec 7) | -54 | |||
| 23:30 | AU | Westpac Consumer Confidence (Dec) | 4.3% | |||
| 23:50 | JP | Core Machinery Orders (MoM) (Oct) | 4.0% | 5.5% | ||
| 23:50 | JP | Domestic Corporate Goods Price Index (MoM) (Nov) | -1.7% | -1.6% | ||