Wednesday, Feb 04, 17:15 GMT
ASIA-PACIFIC Trading Newsletter
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- 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: AUD/USD − Key Support Bounce by James Chen
Price action on the AUD/USD daily chart, as shown, has just bounced up off an uptrend support line extending from the 5−year low hit in late October.
The Disciplined Trader: EUR/USD retraces and finds support at 0.618 by Pierre Charlebois
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Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, Feb 4, 18:00 GMT
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Type of Session: Webinar
How to Get Started Trading Forex
Expert: Mark Whistler
Start: Thu, Feb 5, 16:00 GMT
Type of Session: Webinar
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| Wed, Feb 4, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN |  |
| Wed, Feb 4, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Feb 5, 10:00 GMT | Tracking the forex market together / Part I | Dr.S.Sivaraman | WBN | |
| Thu, Feb 5, 12:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Thu, Feb 5, 14:00 GMT | Tracking the forex market together / Part II | Dr.S.Sivaraman | WBN | |
Current Session: U.S.
EURUSD: Recovery Gains Exposes Channel Top
FXTechstrategy − As recovery initiated at the 1.2706 level(Feb 02'09) gained momentum Tuesday following the pair's declines off the 1.3330 level printed in late Jan'09,risk is now seen towards EUR's channel top presently at 1.3070.Although that level was tested in early trading today, a back off in price was seen suggesting that level should resist further upside incursions.
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EUR/GBP Bearish trend resumed by Danske Bank A/S
Over the past 7 trading days, EUR/GBP has exhibited the second leg of the bearish move with basis end−December last year. The move could take EUR/GBP down to 0.8612−0.8560. We saw some support around 0.8800 and a short−term correction to 0.9090.
Currency Majors Technical Analysis − GBP USD is in a range between 1,4050 and 1,4500 by Mataf.net
GBP USD is in a consolidation after the last bullish movement. GBP USD is in a range between 1,4050 and 1,4500. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration.
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
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Feb 5 | 12:45 | ECB Interest Rate Decision | 2% | 2% |
| Feb 5 | 12:00 | BoE Interest Rate Decision | 1.0% | 1.5% |
Daily Market Report - The BOE's interest rate decision is expected to be a half percentage cut to 1.0 percent by Wachovia
The euro lost ground on Wednesday after the ratings agency Fitch downgraded Russia's long−term foreign and local currency ratings to BBB. Fitch explained its downgrade was in part caused by the negative impact on Russia from a fall in commodity prices and the dislocation to global markets causing the country difficulty refinancing external debt.
[ Full Story ]- WRAPUP 1−UK rate cut eyed as recovery looks distant prospect (Thomson Financial News)
- British economy checklist ahead of BoE meeting (Thomson Financial News)
Top Market Movers Review
US ISM NON−MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 4 | 15:00 | ISM Non−Manufacturing | 42.9 | 39.1 | 40.1 |
DATA SNAP: ISM Services Shrink At Slower Pace In January (Dow Jones)
Non−manufacturing activity contracted at a slower pace in the U.S. in January. Private research group the Institute for Supply Management reported Wednesday that its composite index of non−manufacturing activity hit 42.9 in January, from 40.1 in December, while its non−manufacturing business index stood at 44.2, from 38.9.
[ Full Story ]- Read the Non−Manufacturing Report at ISM
- UPDATE: US Service Sector Retreat Moderates In January (Dow Jones)
- INSTANT VIEW 4−US service sector contraction slows in Jan (Thomson Financial News)
- US STOCKS SNAPSHOT−U.S. stocks extend gains after ISM data (Thomson Financial News)
Asia Market Update - USD Under Pressure Ahead of ADP Jobs, Services ISM by TradeTheNews.com
US economic indicators - ISM indices (January): still at recessionary levels by BHF−Bank
US ADP EMPLOYMENT CHANGE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 4 | 13:15 | ADP Employment Change | -522K | -525K | -659K |
U.S. ADP Employment survey shows further decline in employment in January (FXstreet.com)
U.S. economy as continued destroying employment at a unusually fast pace in January, according to the latest ADP Employment Report. Non−farm private employment declined by 522,000 in January, following a 659,000 decline in December, revised down from the previously estimated 693,000 decline.
[ Full Story ]- Read the Employment data at ADP
- WRAPUP 1−U.S. companies bleed jobs, service slump slows (Thomson Financial News)
- TREASURIES−Bonds flat as ADP, refunding details weigh (Thomson Financial News)
- UPDATE 2−US private sector cuts half a million jobs in Jan (Thomson Financial News)
Asia Market Update - USD Under Pressure Ahead of ADP Jobs, Services ISM by TradeTheNews.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 4 | 15:00 | US | ISM Non−Manufacturing (Jan) | 42.9 | 39.1 | 40.1 |
| 15:30 | US | EIA Crude Oil Stocks change (Jan 30) | 7.2M | 6.2M | ||
| 21:45 | NZ | Unemployment Rate (4Q) | 4.6% | 4.2% | ||
| Feb 5 | 11:00 | DE | Factory Orders n.s.a. (YoY) (Dec) | -24.5% | -27.2% | |
| 11:00 | DE | Factory Orders s.a. (MoM) (Dec) | -2.5% | -6.0% | ||
| 12:00 | UK | BoE Interest Rate Decision | 1.0% | 1.5% | ||
| 12:45 | EMU | ECB Interest Rate Decision | 2% | 2% | ||