Monday, Feb 02, 17:04 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- WEBINAR VIDEO: Central Bank Review by Adam Rosen
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Path: EUR/GBP − Bounce off Support Test by James Chen
Price on the key EUR/GBP cross (a daily chart of which is displayed) has just bounced cleanly off a major support region just above 0.8800. This occurs after price broke below an important uptrend support line late last week. From a technical perspective, there is currently somewhat of a bullish directional bias on this pair.
The Advisor Blog: Challenges in forex market Do you dare? by Valeria Bednarik
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Live Sessions Schedule
Eyes on the Yen – CADJPY & GBPJPY Weekly Review
Expert: Mihai Marinescu
Start: Tue, Feb 3, 10:00 GMT
Type of Session: Webinar
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Feb 3, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Feb 2, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
| Tue, Feb 3, 10:00 GMT | Eyes on the Yen – CADJPY & GBPJPY Weekly Review | Mihai Marinescu | WBN |  |
| Tue, Feb 3, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Feb 3, 15:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
| Tue, Feb 3, 16:00 GMT | Trading with Autochartist | Raghee Horner | WBN | |
Current Session: U.S.
GBP/USD was punished more than −220 pips
FOREX.com −The return in risk aversion overnight continued into the London session as Moody's cut the credit rating of one of the UK's largest banks on the likelihood of more credit writedowns to come. GBP/USD was punished more than −220 pips towards 1.4050/60 area as leveraged names ostensibly sold GBP/JPY in size. The 1.40 level is now critical support here and we would expect a new and sharp round of weakness if below there.
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Technical Summary for Majors − Today's break below 89.16 support commences the next phase lower by Windsor Brokers Ltd
Correction off 87.10, 21 Jan low, stalled at 90.79 on 28 Jan, with fresh weakness emerging from there. Today's break below 89.16 support commences the next phase lower, targeting 88.42/87.90
Currency Majors Technical Analysis − USD CAD broke 1,2410 resistance by Mataf.net
1,2426. USD CAD broke 1,2410 resistance. The volatility is high. Bollinger bands are parallel and form the trend. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The uptrend should continue on 1,2500 resistance (74 pips).
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 RBA INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Feb 3 | 03:30 | RBA Interest Rate Decision | 3.25% | 4.25% |
Daily Market Briefing - Australian Dollar Bound to See High Volatility Ahead of RBA Rate Decision by FXCM
The Australian dollar could face bearish pressures on Monday night, similar to what the New Zealand dollar experienced on January 28, as the Reserve Bank of Australia is anticipated to cut rates in their fifth consecutive meeting at 22:30 ET, with a Bloomberg News poll of economists calling for a 100 basis point cash rate target reduction to a record low of 3.50 percent.
[ Full Story ]- Read the Rate data at RBA
Trading News Report - AUD/USD: Trading the RBA Interest Rate Decision by FXCM
Top Market Movers Review
US ISM MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 2 | 15:00 | ISM Manufacturing | 35.6 | 33.0 | 32.4 |
DATA SNAP: Factories Shrink At Slower Pace In January (Dow Jones)
A report from the Institute for Supply Management Monday said that the private research group's January index for factory activity stood at a better than expected 35.6, from December's 32.9. Economists had expected the index to come in at 32.0.
[ Full Story ]- Read the Manufacturing data at ISM Institute
- UPDATE 1−US manufacturing slowdown decelerates in January−ISM (Thomson Financial News)
- US manufacturing slowdown decelerates in January−ISM (Thomson Financial News)
- UPDATE: Factories Shrink In January By Less Than Expected Pace (Dow Jones)
US economic indicators - ISM indices (January): still at recessionary levels by BHF−Bank
US PERSONAL SPENDING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 2 | 13:30 | Personal Spending | -1.0 | -0.9 | -0.8 |
| Feb 2 | 13:30 | Personal Income (MoM) | -0.2% | -0.4% | -0.4% |
| Feb 2 | 13:30 | Core Personal Consumption Expenditure − Prices Index (MoM) | 0% | 0% | 0% |
| Feb 2 | 13:30 | Personal Consumption Expenditure Deflator | 0.6% | 1.1% | 1.4% |
| Feb 2 | 13:30 | Core Personal Consumption Expenditure − Prices Index (YoY) | 1.7% | 1.7% | 1.9% |
DATA SNAP: US Saving Rate Highest Since May 2008 (Dow Jones)
U.S. consumers cut their spending during December despite falling prices and they increased savings in fear of a jobless rate that keeps rising in the deepening recession. Personal consumption fell 1.0% compared to the month before.
[ Full Story ]- Read the Personal Income and Outlays data at Commerce Department
- UPDATE 1−US consumer spending falls in Dec, savings jump (Thomson Financial News)
- UPDATE 1−US consumer spending falls in Dec, savings jump (Thomson Financial News)
- INSTANT VIEW 4−US consumer spending falls in Dec (Thomson Financial News)
Friday Notes - Recession trims incomes and spending by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 2 | 15:00 | US | Construction Spending (MoM) (Dec) | -1.4% | -1.2% | -1.2% |
| 15:00 | US | ISM Manufacturing (Jan) | 35.6 | 33.0 | 32.4 | |
| 23:30 | JP | Monetary Base (YoY) (Jan) | 1.8% | |||
| Feb 3 | 00:30 | AU | Trade Balance (Dec) | 1.050B | 1.448B | |
| 01:30 | JP | Labor Cash Earnings (YoY) (Dec) | -1.5% | -0.7% |
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| 03:30 | AU | RBA Interest Rate Decision | 3.25% | 4.25% | ||
| 07:00 | DE | Retail Sales (MoM) (Dec) | 0.5% | 0.7% | ||