Wednesday, Jan 14, 17:06 GMT
ASIA-PACIFIC Trading Newsletter
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- All the events of the day in our Economic Calendar
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Forex Blogs
FX Path: EUR/USD − Continued Freefall by James Chen
EUR/USD has continued its freefall of the past several days, breaking support level after support level in its potential quest to re−test long−term lows. Having broken down well below the noted 1.3300 region yesterday, the pair has gone on to break a key downtrend line, as shown on the accompanying EUR/USD daily chart.
The Advisor Blog: Eur/Usd 15 minutes charts by Valeria Bednarik
Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, Jan 14, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
Rule Based Short Term Trading In Forex − Free Access Day
Expert: Sam Seiden
Start: Thu, Jan 15, 10:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jan 14, 17:00 GMT | How to Survive and Prosper in 2009 Credit Crisis | John W. O'Donnell | WBN |  |
| Wed, Jan 14, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Jan 15, 10:00 GMT | Rule Based Short Term Trading In Forex − Free Access Day | Sam Seiden | WBN | |
| Thu, Jan 15, 12:00 GMT | FX Instructor Live Trading Room − Free Access Day | Mark De La Paz | WBN |  |
| Thu, Jan 15, 13:00 GMT | US Pre−Market Open − Free Access Day | Ed Ponsi | WBN | |
Current Session: U.S.
Dollar Resumes Rally after Poor Retail Sales
ActionForex.com − EUR/USD's fall resumes after brief recovery and dives to as low as 1.3096 in early US session. At this point, intraday bias remains on the downside as long as 1.3343 minor resistance holds. As discussed before, consolidation from 1.2329 has possibly completed at 1.4719 already. Further decline should be seen to 1.2549 support first then retest 1.2329 low. On the upside, above 1.3343 will turn intraday outlook neutral first. But break of 1.3796 resistance is needed to indicate that fall from 1.4719 has completed. Otherwise, short term outlook remains bearish.
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Technical Summary for Majors − Slipped lower off 94.65 to find short−term support at 88.80 by Windsor Brokers Ltd
Slipped lower off 94.65 to find short−term support at 88.80. Marginal higher low is now leading to pressure on 89.98/90.09 resistance area, where a break is needed to end bear structure.
Market Session Recaps − London Session by FOREX.com
EUR/JPY shed more than −120 points into the 118.30/40 area. Below 89 and 118, respectively, should see losses accelerate a touch here.
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
Australia UNEMPLOYMENT RATE
| Date (GMT) | Event | Cons. | Previous | |
| Jan 15 | 00:30 | Unemployment Rate | 4.5% | 4.4% |
| Jan 15 | 00:30 | Employment Change | -20.0K | -15.6K |
AU Preview: Australian Unemployment Rate Will Climb Amid Widespread Job Cuts (CEP News)
The Australian labour market is expected to show signs of dropping off in tomorrow's unemployment report. After months of surprising to the upside despite reports of jobs cuts and grim leading indicators, December's jobless rate should jump higher, economists say.
[ Full Story ]- Read the Unemplyoment data at Australian Bureau of Statistics
Top Market Movers Review
US BUSINESS INVENTORIES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 14 | 15:00 | Business Inventories | -0.7% | -0.5% | -0.6% |
US ECON: Nov Business Inventories Down 0.7%, Sales Down Record 5.1% (Thomson Financial News)
Business inventories fell 0.7% in November, a bit more than the consensus 0.5% decline and the largest drop since November 2001. IFR was expecting a 0.8% drop. November business sales fell a record 5.1%, and are down 8.9% from November 2007.
[ Full Story ]- Read the Business Inventories data at Census Bureau
- U.S. Nov inventories fall at fastest pace in 7 yrs (Thomson Financial News)
- TABLE−U.S. Nov business inventories fell 0.7 pct (Thomson Financial News)
- DATA SNAP: US Inventories Fall More Than Expected In Nov (Dow Jones)
US RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 14 | 13:30 | Retail Sales (MoM) | -2.7% | -1.2% | -2.1% |
| Jan 14 | 13:30 | Retail Sales ex Autos (MoM) | -3.1% | -1.4% | -2.5% |
DATA SNAP: US Dec Retail Sales Below Expectations (Dow Jones)
U.S. retail sales fell a sixth consecutive time in December, making a deep, broad drop that indicated worried consumers were adding to savings instead of spending at the height of the holiday season. Retail sales tumbled by 2.7% last month, the Commerce Department said Wednesday.
[ Full Story ]- Read the Retail Sales data at Census Bureau
- WRAPUP 2−US retail sales dive as holiday spending slumps (Thomson Financial News)
- US holiday retail sales fell 2.8 pct − NRF (Thomson Financial News)
- TOPWRAP 4−US retail sales fall, global banks struggling (Thomson Financial News)
Mid−Day Forex Technical Report − Dollar Resumes Rally after Poor Retail Sales by ActionForex.com
Daily Forex News - Forex − U.S Trade deficit hoorah is short lived as retail sales are set to disappoint by ACM − Advanced Currency Markets
Trading News Report - EUR/USD: Trading the US Advance Retail Sales Report by FXCM
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 14 | 15:00 | US | Business Inventories (Nov) | -0.7% | -0.5% | -0.6% |
| 15:35 | US | EIA Crude Oil Stocks change (Jan 9) | 1.2M | 6.7M | ||
| 18:00 | US | Fed's Stern speaks | ||||
| 19:00 | US | Fed's Beige Book | ||||
| 23:50 | JP | Core Machinery Orders (MoM) (Nov) | -8.0% | -4.4% | ||
| 23:50 | JP | Domestic Corporate Goods Price Index (YoY) (Dec) | 0.8% | 2.8% | ||
| Jan 15 | 00:30 | AU | Employment Change (Dec) | -20.0K | -15.6K | |