Thursday, Jan 22, 17:10 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- WEBINAR VIDEO: Rule Based Short Term Trading In Forex by Sam Seiden
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Path: USD/JPY − Re−Approaching Historical Depths by James Chen
Wednesday's price action on USD/JPY (a daily chart of which is shown) descended all the way down almost precisely to the 13+ year low in the pair that was just established in mid−December. After hitting this support low (just above 87.00), price was rejected and rose back up substantially.
The Advisor Blog: Gbp/Usd intraday levels by Valeria Bednarik
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Live Sessions Schedule
Outlook for the major currencies this week
Expert: Ian Copsey
Start: Fri, Jan 23, 08:30 GMT
Type of Session: Webinar
Main Fundamental theme in the Currency market
Expert: Terri Belkas
Start: Fri, Jan 23, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jan 22, 16:00 GMT | MONTHLY WEBINAR: Trading with a Consistant Trading Plan and Strategy − Part II  | Phil Newton | WBN |  |
| Fri, Jan 23, 08:30 GMT | Outlook for the major currencies this week | Ian Copsey | WBN | |
| Fri, Jan 23, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum | Sunil Mangwani | WBN |  |
| Fri, Jan 23, 12:00 GMT | Trading systems involving Moving Averages | Valeria Bednarik | WBN | |
| Fri, Jan 23, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
Current Session: U.S.
Dollar Responds Positively to Negative Data Again
(ActionForex.com) − No change in USD/CAD's outlook. Intraday bias remains on the upside as long as 1.2529 minor support holds. Rise from 1.1761 is still expected to extend further to retest 1.3005/15 resistance zone. Though, consider mildly bearish divergence condition in 4 hours MACD and RSI, below 1.2529 will indicate that a short term top is in place and bring pull back to 1.2316 support for consolidation.
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Technical Analysis: Currencies − EUR/CZK by Mizuho Corporate Bank
Having called a bottom to the Czech koruna's gains against the Euro too often over the last nine years, we had to get it right eventually! The whole of the decline is a massive A, B, C−type move where C=A.
London Session − Poor economic data out of the UK weighed heavily on the pound by FOREX.com
GBP/USD was crushed more than −170 pips as a result and sitting near the 1.3740/50 zone. Ostensibly there are bids into the 1.3700 level and as such we would expect good support on dips into that area.
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 PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Jan 23 | 08:30 | Purchasing Manager Index Manufacturing | 32.0 | 32.7 |
| Jan 23 | 08:30 | Purchasing Manager Index Services | 45.5 | 46.6 |
EMU economic indicators - PMI manufacturing indices Germany and EMU (January): down by BHF−Bank
For similar reasons, French and Belgian business confidence and the Purchasing Managers' Index for the German and EMU manufacturing sector are likely to have continued deteriorating in January.
[ Full Story ]Top Market Movers Review
Canada RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 22 | 13:30 | Retail Sales (MoM) | -2.4% | -1.8% | -1.0% |
| Jan 22 | 13:30 | Retail Sales ex Autos (MoM) | -2.3% | -1.5% | -1.3% |
UPDATE 1−Canada Nov retail sales drop by most since 1998 (Thomson Financial News)
Canadian retail sales dropped by 2.4 percent in November from October, the steepest decline in nearly 11 years, thanks to sharply lower gas prices and a decrease in the sales of new cars, Statistics Canada said on Thursday.
[ Full Story ]- Read the Retail Sales data at Statistics Canada
- UPDATE 2−Gloomy Canadian retail data shows recession biting (Thomson Financial News)
- Canada retail sales drop beyond expectations in November on weak car sales (FXstreet.com)
- Canada November retail sales drop by 2.4 percent (Thomson Financial News)
Canadian retail sales had their sharpest decline since 1998 by ActionForex.com
Daily Market Report - Today, look for domestic weekly jobless claims and housing data and Canadian retail sales by Wachovia
Retail sales would have dropped 1.5% after sliding 0.9% in the previous month by ActionForex.com
US HOUSING STARTS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 22 | 13:30 | Building Permits (MoM) | 0.549M | 0.610M | 0.615M |
| Jan 22 | 13:30 | Housing Starts (YoY) | 0.550M | 0.615K | 0.651M |
DATA SNAP: US Dec Housing Starts Down Sixth Time In A Row (Dow Jones)
Home builders cut groundbreakings a sixth time in a row during December and brought construction to a new low, according to a report that suggested the industry will get worse. Housing starts decreased 15.5% to a seasonally adjusted 550,000 annual rate.
[ Full Story ]- Read the Housing Starts data at Census Bureau
- WRAPUP 1−U.S. jobless claims surge, housing start tumble (Thomson Financial News)
- U.S. housing starts, permits hit record lows in Dec (Thomson Financial News)
- U.S. Housing starts decline in December for sixth consecutive month (FXstreet.com)
Housing starts dropped −15.5% to new record low by ActionForex.com
Jobless Claims and Housing Starts Highlight Seismic Challenges Facing U.S. Economy by GFT (Global Forex Trading)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 22 | 15:30 | CA | Bank of Canada Monetary Policy Report | |||
| 16:00 | US | EIA Crude Oil Stocks change (Jan 17) | 6.1M | 1.1 | 1.2M | |
| 23:50 | JP | All Industry Activity Index (MoM) (Nov) | -2.2% | -0.5% | ||
| Jan 23 | 01:30 | AU | Export Price Index (QoQ) (4Q) | 7.0% | 13.5% | |
| 01:30 | AU | Import Price Index (QoQ) (4Q) | 5.9% | 5.0% | ||
| 05:00 | JP | Bank of Japan Monthly Economic Survey | ||||
| 08:30 | DE | Purchasing Manager Index Manufacturing (Jan)  | 32.0 | 32.7 | ||