Wednesday, Dec 31, 16:16 GMT
ASIA-PACIFIC Trading Newsletter
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Forex Blogs
Forex Trading Today: The Battle of The Channel... Part II ! by Tim Salem
Happy New Year's Eve to All ! I thought we would revisit our big Battle of the English Channel going on with the EuroZone and the U.K. It is certainly timely since we have had such devisive appreciation of the Euro in this case…Her Majesty may need us to rescue Her again from the Deep Blue!
FX Path: EUR/USD - New Year’s Consolidation on Pullback by James Chen
ForexHedge: Year end by Ron Schelling
Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Jan 5, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Jan 5, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jan 5, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Jan 5, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Jan 5, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN |  |
| Mon, Jan 5, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Tue, Jan 6, 12:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
Current Session: U.S.
USD
Pairs to Range Trade − For most of the majors, the US dollar's future is still wrapped up in its position as a safe haven for the currency market by FXCM
For most of the majors, the US dollar's future is still wrapped up in its position as a safe haven for the currency market. However, this is less of an issue when compared to the Japanese yen – the funding currency of the carry trade for more than a decade. Alternatively, economic trends are taking on a greater role in fundamental price action. With interest rates near zero for the US (and many other G10 rates expected to follow), concerns over the balance between risk and return now must rest on the very uncertain outlook for when speculation and interest rates will regain ground later in 2009.
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GBP/USD
Forex Market Outlook on Majors − Intra − day GBP/USD Outlook: 1.4463 by AceTrader
Failure to extend intra−day rebound n current cross−inspired retreat suggest pullback to 1.4440 cannot be ruled out, however, as long as 1.4410 sup holds, another corrective rise is seen n abv 1.4480/85 wud extend gain to 1.4520/25.
EUR
Forex Trading Strategies − The New Year is soon upon us − what will it bring for currencies? by Saxo Bank
EUR weaker: We've covered this one extensively in recent days. The Euro has rallied for good reasons: it has refused to join the competitive devaluation impulse launched so aggressively by the Fed and the Bank of England and it is one of the most liquid currencies outside the USD in a world that is very concerned about illiquidity.
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 ISM MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Jan 2 | 15:00 | ISM Manufacturing | - | 36.2 |
US economic indicators - ISM manufacturing index (Dec): again indicating recession in the overall economy by BHF−Bank
The ISM manufacturing index fell further to 36.2, thus signalling recession in the overall economy for the second consecutive month. The first regional manufacturing surveys stabilised at very low levels, and we therefore expect the ISM manufacturing index to have remained more or less unchanged in December.
[ Full Story ]Top Market Movers Review
US INITIAL JOBLESS CLAIMS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 31 | 13:30 | Initial Jobless Claims | 492K | 575K | 586K |
| Dec 31 | 13:30 | Continuing Jobless Claims | 4506K | - | 4366K |
US Jobless Claims −94K To 492K In Dec 27 Week; Survey −11K (Dow Jones)
New claims for unemployment benefits made a surprisingly large drop last week, the largest in 16 years. Initial claims for jobless benefits fell by 94,000 to a seasonally adjusted 492,000 in the week ended Dec. 27 from an unrevised 586,000 the week before, the Labor Department said Wednesday.
[ Full Story ]- Read the Jobless Claims data at Labor Department
- US jobless claims drop by much more than expected (Thomson Financial News)
- US ECON: Initial Claims Fall to 492,000; Cont. Claims Highest In 26 Yrs (Thomson Financial News)
- TABLE−U.S. jobless claims fell in latest week (Thomson Financial News)
Forex Trading Strategies - Events Today:US Weekly Initial Jobless Claims by Saxo Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 31 | 00:00 | DE | New Year's Eve | |||
| 15:35 | US | EIA Crude Oil Stocks change | 0.5M | -1.4M | -3.1M | |
| 19:00 | EMU | ECB Trichet's Speech | ||||
| Jan 1 | 00:00 | JP | New Year's Day | |||
| 00:00 | AU | New Year's Day | ||||
| Jan 2 | 05:30 | AU | RBA Commodity Index SDR (YoY) (Dec) | 35% | ||
| 09:30 | UK | Consumer Credit (Nov) | £0.8B | |||