Wednesday, Dec 17, 16:54 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Webinar Videos: Selling FX Options by John Jagerson
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Path: EUR/USD − Unrelenting Bullishness − 50% Retracement by James Chen
Phenomenal bullishness on the EUR/USD ( a daily chart of which is shown) that was further fueled by the Fed rate cut to a record low level, has quieted the dollar bulls at least for the time being.
FxBootcamp: FOREX Training Video - London Session December 17, 2008 by Christian Stephens
The Advisor Blog: Dollar colapse by Valeria Bednarik
Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, Dec 17, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
MONTHLY WEBINAR − Part 1: The 1−2−3 chart pattern
Expert: Sunil Mangwani
Start: Thu, Dec 18, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Dec 17, 17:00 GMT | Book Showroom: Day Trading and Swing Trading the Currency Market, Second Edition | Kathy Lien | SHW | |
| Wed, Dec 17, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Dec 18, 14:00 GMT | MONTHLY WEBINAR − Part 1: The 1−2−3 chart pattern | Sunil Mangwani | WBN | |
| Thu, Dec 18, 16:00 GMT | MONTHLY WEBINAR − Part 2: The trend following 200 Moving Average strategy  | Sunil Mangwani | WBN |  |
| Fri, Dec 19, 08:30 GMT | Outlook for the major currencies this week | Ian Copsey | WBN | |
Current Session: U.S.
EUR/USD
EURUSD: EUR Continues To Target Higher Prices
FXTechstrategy − EUR shot through its two key resistance levels at the 1.3785 level, its Oct 09'08 high and the 1.3882/1.3900 area ,its Sept 11'08 high/.618 Ret(1.4857−1.2330 decline) on Tuesday to close the session at 1.4148.This development has solidified its recovery started at the 1.2551 level in early Dec'08 and opened up upside risk towards the 1.4073 level, its Sept 16'08 high and the 1.4310 level, its Dec 20'08 low with scope for further upside towards a strong resistance residing at its Sept 22'08 high at 1.4857
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GBP/JPY
Daily Forex Technical Report − Sterling Tumbles, Dollar Stabilizes but Remains Weak by ActionForex.com
GBP/JPY's recovery from 133.09 was limited below 140.71 resistance and weakens again today. 4 hours MACD's cross below signal line indicates that an intraday top is formed and dampens the immediate bullish case.
USD/CHF
Technical Summary for Majors − Today's break below 1.1201 has marked a full retracement of 1.1201/1.2296 by Windsor Brokers Ltd
Today's break below 1.1201 has marked a full retracement of 1.1201/1.2296 ascend, with fresh bears extending to 1.1055 thus far. Short−term studies are extremely oversold, with correction higher seen, ahead of fresh decline.
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 IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Cons. | Previous | |
| Dec 18 | 09:00 | IFO − Business Climate | 84.0 | 85.8 |
| Dec 18 | 09:00 | IFO − Expectations | - | 77.6 |
EMU economic indicators - German ifo business climate (December): down by BHF−Bank
The ifo business climate for Germany will probably have deteriorated in December, even though the German ZEW economic sentiment has rebounded.
[ Full Story ]Top Market Movers Review
US CURRENT ACCOUNT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 17 | 13:30 | Current Account | -$174.1B | -$179.0B | -$180.9B |
DATA SNAP: US 3Q Current Account Gap Less Than Expected (Dow Jones)
The U.S. current account deficit narrowed more than expected in the third quarter as a broad gain in exports outstripped the rise in imports. The current account deficit decreased to $174.1 billion during the July through September period, from a downwardly revised $180.9 billion in the second quarter, the Commerce Department said Wednesday.
[ Full Story ]- Read the Current Account data at Commerce Department
- UPDATE: US 3Q Current Account Gap Narrows More Than Expected (Dow Jones)
- UPDATE 1−U.S. current account gap narrows in third qtr (Thomson Financial News)
- U.S. current account gap narrows in 3rd−qtr (Thomson Financial News)
Norway NORGES BANK INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 17 | 13:00 | Norges Bank Interest Rate Decision | 3.00% | - | 4.75% |
UPDATE 1−Norway slashes rates by 175 bps, sees more cuts (Thomson Financial News)
Norway's central bank cut its main interest rate by a deeper−than−expected 175 basis points to 3.0 percent on Wednesday in a bid to shield the economy from the global crisis and signalled more rate decreases ahead.
[ Full Story ]- Read the Official Statement at Norges Bank
- TAKE−A−LOOK−Norway cuts interest rates to 3.0 pct (Thomson Financial News)
- UPDATE 3−Norway slashes rates by 175 bps, sees more cuts (Thomson Financial News)
- Norway c.bank sees crown firming gradually in 2009 (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 17 | 13:30 | CA | Wholesale Sales (MoM) (Oct) | -1.8% | 1.5% | |
| 15:35 | US | EIA Crude Oil Stocks change (Dec 12) | 0.5M | 0.4M | ||
| Dec 18 | 00:30 | AU | RBA Foreign Exchange Transaction (Nov) | -3.25B | ||
| 02:00 | NZ | Business Confidence (Nov) | -43 | |||
| 06:00 | JP | Machine Tool Orders (YoY) (Nov) | -20.1% | |||
| 07:15 | CH | Trade Balance (Nov) | 1.70B | 1.95B |
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| 08:15 | CH | Adjusted Real Retail Sales (YoY) (Oct) | 1.9% | 6.4% | ||