Tuesday, Jan 20, 16:31 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- WEBINAR VIDEO: How to Survive and Prosper in 2009 Credit Crisis by John O'Donnell
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Path: GBP/USD − Major Breach of Support to 7+ Year Low by James Chen
Price action on GBP/USD as of Tuesday morning has hit a new 7+ year low after breaking down below the bottom border support of a prolonged wedge consolidation. Where this pair was previously giving signs of forming a tentative base, the dollar bulls have been relentless and overpowering against the European currencies this week thus far.
The Advisor Blog: Gbp/Usd falling apart (again!)
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Live Sessions Schedule
Selling Covered Options in the Forex
Expert: John Jagerson
Start: Tue, Jan 20, 17:00 GMT
Type of Session: Webinar
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Jan 21, 10:00 GMT
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Type of Session: Webinar
| Sponsored by | ||||
| Tue, Jan 20, 16:00 GMT | Trading with Autochartist | Raghee Horner | WBN |  |
| Tue, Jan 20, 17:00 GMT | Selling Covered Options in the Forex | John Jagerson | WBN | |
| Tue, Jan 20, 18:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
| Wed, Jan 21, 10:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Jan 21, 11:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN |  |
Current Session: U.S.
EUR/USD's decline continues today
ActionForex.com − EUR/USD's decline continues today and reaches as low as 1.2906 in early US session. At this point, intraday bias remains on the downside as long as 1.3049 minor resistance holds. As discussed before, consolidation from 1.2329 has possibly completed at 1.4719 already. Current fall from 1.4719 is expected to extend to retest 1.2329 low. On the upside, above 1.3049 will turn intraday outlook neutral and bring consolidation. But upside should be limited below 1.3385 resistance and bring another fall. Break of 1.3385 is needed to indicate completion of decline from 1.4719. Otherwise, short term outlook will remain bearish.
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Daily Currency Market Focus − British Pound: How Much Further Can It Fall? by GFT (Global Forex Trading)
The British pound has broken 2 key support levels − 1.45 and 1.40. Trends can last for a very long time in the currency market which is why there is a decent chance that we could see the GBP/USD slip to 1.3865.
Technical Analysis: Currencies − EUR/NOK by Mizuho Corporate Bank
Just when we wrote off the Norwegian krone as too boring for words, it suffers its most dramatic losses ever, hitting a record high at 10.1700, and one−month at−the−money implied volatility rockets to 22.65%.
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 OBAMA INAUGURATION AS 44TH PRESIDENT
| Date (GMT) | Event | Cons. | Previous | |
| Jan 20 | 17:00 | Obama Inauguration as 44th President | - | - |
Daily Market Commentary - Will Currencies Rally on Obama's Inauguration Day? by GFT (Global Forex Trading)
Flight to safety continues to drive the US dollar higher against all of the major currencies outside of the Japanese Yen. US markets were closed today in observation of Martin Luther King, Jr. Day but that has not limited the volatility in the currency market. Europe dominates the headlines with big developments in the UK and Spain.
[ Full Story ]- WRAPUP 4−Huge crowds gather for Obama inauguration (Thomson Financial News)
- WRAPUP 3−A sea of people for Obama inauguration (Thomson Financial News)
Market Session Snap−Shot - Asian Session − President−Elect Barack Obama Inauguration by ACM − Advanced Currency Markets
Obama's Inauguration and USD by Easy Forex
Top Market Movers Review
Canada BOC INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 20 | 14:00 | BoC Interest Rate Decision | 1.0% | 1.0% | 1.5% |
Bank of Canada Cuts Rates to 1%, More Easing Ahead by GFT (Global Forex Trading)
The Bank of Canada cut interest rates to 1.00 percent, the lowest level ever for the 75 year old central bank and signaled that they could bring interest rates down to US levels. The historic move was motivated by the sharp downturn in the US economy and the continual slide in oil prices. Not only are Canadians making less, but they are seeing their household wealth plummet as well.
[ Full Story ]- Read the Official Statement at BoC
- C$ Up In Aftermath Of BOC Cut; Technicals Contribute To Move (Dow Jones)
- UPDATE:Dlr Higher On Global Economic Fears, BOC Rate Cut (Dow Jones)
- TEXT−Bank of Canada rate decision (Thomson Financial News)
Bank of Canada slashed the key interest rate by ActionForex.com
Daily Market Report - The CAD is weaker as well leading up to the BoC rate decision by Wachovia
Canada: BOC to cut rates 50 bps to 1% Tuesday by Easy Forex
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 20 | 13:30 | CA | Manufacturing Shipments (MoM) (Nov) | -6.4% | -0.5% | -0.2% |
| 14:00 | CA | BoC Interest Rate Decision | 1.0% | 1.0% | 1.5% | |
| 17:00 | US | Obama Inauguration as 44th President | ||||
| 20:20 | UK | BoE's Governor King Speech | ||||
| 21:00 | US | ABC/Washington Post Consumer Confidence (Jan 18) | -49 | |||
| 21:45 | NZ | Retail Sales (MoM) (Nov) | -0.9% | -1.3% | ||
| 21:45 | NZ | Retail Sales ex Autos (MoM) (Nov) | 0.0% | 0.8% | ||