Wednesday, Jan 28, 21:36 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- WEBINAR VIDEO: Economic and Technical View of the Currency Market by Rob Booker
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Path: GBP/USD − Clear Bounce Off Extreme Lows by James Chen
GBP/USD (a daily chart of which is shown) has made a clear 3−bar bounce off the recent 23−year low of 1.3500, as of Wednesday morning. In the process, price has broken back up above the bottom border of the wedge formation that it broke below just last week.
The Disciplined Trader: We may topping temperarely on USD pairs by Pierre Charlebois
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Live Sessions Schedule
Forex Market Forecast for the Year 2009
Expert: Dr.S.Sivaraman
Start: Thu, Jan 29, 11:00 GMT
Type of Session: Webinar
Central Bank Review
Expert: Adam Rosen
Start: Thu, Jan 29, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jan 29, 10:00 GMT | Trade Development  | Sam Seiden | WBN |  |
| Thu, Jan 29, 11:00 GMT | Forex Market Forecast for the Year 2009 | Dr.S.Sivaraman | WBN | |
| Thu, Jan 29, 12:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Thu, Jan 29, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Thu, Jan 29, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: U.S.
Fed keeps its interest rate unchanged at 0.25%, ready to buy bonds
EURUSD is falling quickly after the FED decision, touching the 1.3105, the low of the day. USDJPY is climbing up to 90.75, the session's high. According to Nick Nasad, analyst at CMS Forex: "I think risk appetite is fueling a bit the Dollar strength, which seems sort of paradoxal in terms of the EUR/USD, but from the way price action was behaving the last two session, the EUR/USD looked ready for a dip... the EUR/USD is responding with a knee−jerk Dollar strength as well as the USD/JPY".
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Daily Forex Overview − USD lower, risk appetite improves with equity market rally by Easy Forex
USD traded lower pressured by improving risk sentiment sparked by expectation that the US Congress will soon pass a large economic stimulus plan.
Technical Summary for Majors − Remains under pressure of last Friday's 1.1717 shooting star candle by Windsor Brokers Ltd
Remains under pressure of last Friday's 1.1717 shooting star candle to breach 4−week bull trendline at 1.1400. Possible hourly bear flag unfolds while below 1.1507/31, to open way towards 1.1205.
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 UNEMPLOYMENT RATE S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Jan 29 | 08:55 | Unemployment Change | 30K | 18K |
| Jan 29 | 08:55 | Unemployment Rate s.a. | 7.7% | 7.6% |
EMU economic indicators - German adjusted unemployment (January): sharp rise due to recession and cold weather by BHF−Bank
The ifo business climate for Germany will probably have deteriorated in January, even if business expectations for the next six months have improved. The German ZEW economic sentiment has gone up, but the US ISM manufacturing index has deteriorated. The German yield spread has improved, but only because short−term interest rates have decreased more than long−term rates. Moreover, the DAX has been fluctuating at low levels. In the first half of December, the euro appreciated more than it depreciated thereafter.
[ Full Story ]Top Market Movers Review
New Zealand RBNZ INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 28 | 20:00 | RBNZ Interest Rate Decision | 3.5% | 4.0% | 5.0% |
NZ cenbank cuts rates 150 basis points to 3.5 pct (Thomson Financial News)
New Zealand's central bank cut interest rates by 150 basis points to a record low 3.5 percent on Thursday, saying a deteriorating global outlook posed greater risks to an economy already in recession. The cut, the fifth since last July, took the official cash rate to its lowest ever level since it was instituted in March 1999. It peaked in July last year at 8.25 percent.
[ Full Story ]- Read the Rate data at Reserve Bank of New Zealand
- INSTANT VIEW 3−NZ cuts rates to record low 3.5 pct (Thomson Financial News)
- NZ cenbank governor sees recession until mid−2009 (Thomson Financial News)
- RBNZ Interest cuts its interest rate in 150 bs pts to 3.5% (FXstreet.com)
Daily FX Market Commentary - RBNZ will lower the cash rate by 100bp to 4.00% by Danske Bank A/S
Daily Market Briefing - Australian Dollar Could Gain Overnight on Australian CPI Figures, New Zealand Dollar Faces RBNZ Rate Decision by FXCM
US FED INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 28 | 19:15 | Fed Interest Rate Decision | 0.25% | 0.25% | 0.25% |
FOMC January Meeting: Exploring New Territory by Wachovia
For the Federal Open Market Committee (FOMC), the two objectives of financial stability and economic recovery remain the intermediate−term policy targets. Yet, both targets are a distance away from being reached. The longer−term goal is, of course, price stability with sustainable real economic growth. To promote financial stability the FOMC retained its 0 to 25 basis point target range for the federal funds rate. In addition, the Fed is committing to a continued expansion of its balance sheet to support financial markets.
[ Full Story ]- Read the FOMC statement at the Federal Reserve
- Fed keeps its interest rate unchanged at 0.25%, ready to buy bonds (FXstreet.com)
- INSTANT VIEW 3−US Fed says prepared to buy Treasuries (Thomson Financial News)
- UPDATE 1−Fed says ready to buy US debt if would help markets (Thomson Financial News)
Daily Market Report - The Fed meets today and is expected to keep its target interest rate at .25 percent by Wachovia
Daily FX Market Commentary - Fed to keep the 0−0.25% range on the Fed funds target by Danske Bank A/S
Technical Trader Closing Brief - Quiet Pre−FOMC Session by The Technical Trader
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 28 | 19:15 | US | Fed Interest Rate Decision | 0.25% | 0.25% | 0.25% |
| 20:00 | NZ | RBNZ Interest Rate Decision | 3.5% | 4.0% | 5.0% | |
| 23:50 | JP | Large Retailer's Sales (Dec) | -5.2% | -3.2% | ||
| 23:50 | JP | Retail Trade (YoY) (Dec) | -1.6% | -0.9% | ||
| 23:50 | JP | Retail Trade s.a (MoM) (Dec) | -0.8% | -0.1% | ||
| Jan 29 | 02:00 | NZ | M3 Money Supply (YoY) (Nov) | 9.4% | ||
| 07:00 | DE | ILO Unemployment Rate (Dec) | 7.2% | 7.1% | ||