Thursday, Jul 09, 16:11 GMT
ASIA-PACIFIC Trading Newsletter
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Forex Blogs
Trading for a living: Pound Flies as BoE Says No More QE by David Aranzabal
As expected the Bank of England kept its interest rate at record low of 50 basis points and announced that it will continue with its 125 billion pound asset purchase program designed to ease monetary and credit conditions in the UK economy. Pound spiked in the aftermath of the release rising to 1.6269 while gilts declined as traders that speculated earlier that BOE would commit another 25 Billion to the program quickly covered their shorts.
FX Path: NFA FIFO Rule for Forex by James Chen
Forex Trading Today: Accumulation Begins As The Dollar and The Yen Reprieve by Tim Salem
Sponsored by 
Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Jul 9, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Day's Live Wrap Up
Expert: Valeria Bednarik
Start: Thu, Jul 9, 22:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jul 9, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Jul 9, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN |  |
| Fri, Jul 10, 09:00 GMT | Trading the Harmonic patterns  | Sunil Mangwani | WBN |  |
| Fri, Jul 10, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
| Mon, Jul 13, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
Current Session: U.S.
1.4000 offers strong resistance for the upside bias
FXstreet.com Independent Analyst Team − Pair regained the upside after some positive data that triggered optimism across the board, thus 1.4000 level is offering some strong resistance at this point. Hourly indicators seem a bit exhausted and the pair is correcting to the downside. Bigger time frames remain bullish so break above today's high with positive Wall Street could trigger some upside momentum for the pair if downside correction holds above 1.3950.
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Oil
The US Department of Energy (DOE) released its weekly inventory statistics by Danske Bank
Yesterday's massive sell−off in commodities was fuelled by a stronger USD and weak US oil demand. Crude oil futures tumbled to just above the $60 level the lowest price since the end of May.
AUD/USD
Aussie could fall to 0.7400 in the next three weeks against Dollar: Commerzbank by FXstreet.com
After finding support at 0.7725 yesterday American session, Aussie has begun to recover against the Dollar during the Asian and European session to reach levels above 0.7850.
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 TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Jul 10 | 12:30 | Trade Balance | -$30.00B | -$29.16B |
US economic indicators - Trade balance (May): higher deficit mainly due to rising energy prices by BHF−Bank
After having widened slightly in April, the trade deficit is likely to have risen again due to higher energy prices. We expect it to have increased by $1.8bn to $31bn in May. Both exports and imports will have fallen noticeably again due to weak global demand and automobile factory shutdowns.
[ Full Story ]Top Market Movers Review
US WHOLESALE INVENTORIES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 9 | 14:00 | Wholesale Inventories | -0.8% | -1.0% | -1.4% |
DATA SNAP: US Wholesalers In May Cut Inventories Again (Dow Jones)
[ Full Story ]- US Wholesale Inventories fall 0.8% in May (FXstreet.com)
US economic indicators - We forecast that wholesale inventories will have decreased by about 1.0% mom in May by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 9 | 00:00 | G8 Meeting | ||||
| 14:00 | US | Wholesale Inventories (May) | -0.8% | -1.0% | -1.4% | |
| 23:50 | JP | Domestic Corporate Goods Price Index (MoM) (Jun) | -0.1% | -0.4% | ||
| 23:50 | JP | Domestic Corporate Goods Price Index (YoY) (Jun) | -6.4% | -5.4% | ||
| Jul 10 | 00:00 | G8 Meeting | ||||
| 06:00 | DE | Wholesale Price Index (MoM) | 0.1% | |||
| 06:00 | DE | Wholesale Price Index (YoY) | -8.9% | |||
Educational Resources
The Psychological Utility of Technical Analysis
This report is about one of the most fascinating and essential topics in currency trading; the interaction between the psychology of the market and the decisions of the individual trader. A currency moves because market participants make basic assumptions about future price behavior based on the record of past price action. Read the report!
Related Resources
Man vs. Market - Ebook by Rob Booker
Making good decisions - Report from The Trader's Journal