Tuesday, Oct 06, 16:09 GMT
ASIA-PACIFIC Trading Newsletter
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Forex Blogs
FX Market Readings: Higher level swings to slide by Dr. S. Sivaraman
As explained yesterday during US session,EURO and GBP made the upward gap opening during start and during close of japanese session they made the upward stop hunts in them as expected. During Early European session Euro and GBP are expected to swing and slide and rise with swings from mid European session till close of the session.
Francesc's Weblog: NordMarkets and FXstreet.com suspend their commercial relationship by Francesc Riverola
Tech Trading: USD/CAD Testing support again by César B. Leiceaga
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Live Sessions Schedule
Trading Profitably Intraday
Expert: Lea Peters
Start: Tue, Oct 6, 19:00 GMT
Type of Session: Webinar
Trading Day's Live Wrap Up
Expert: Valeria Bednarik
Start: Tue, Oct 6, 22:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Oct 6, 16:00 GMT | Drilling down, Support and Resistance | Triffany Hammond | WBN |  |
| Tue, Oct 6, 19:00 GMT | Trading Profitably Intraday | Lea Peters | WBN | |
| Tue, Oct 6, 22:30 GMT | Trading Day's Live Wrap Up | Valeria Bednarik | WBN | |
| Wed, Oct 7, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Wed, Oct 7, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
Current Session: U.S.
Pair remains strongly bearish likely to extend downside to previous strong 88.20 low
FXstreet.com Independent Analyst Team − Pair remains strongly bearish mounted on market sentiment, likely to extend the downside to previous strong 88.20 low. Clear break under that level could confirm an extension of the rally, with next key target at the 87.10 area, yearly low. Indicators show current rally a bit over extended in 4 hours charts, so we could see a pullback to the 89.00 area, before a new down leg.
GOLD
Gold Hits Key Level by fxKnight.com
Gold hit a double−top this week, touching a key level last reached during the week of February 15, 2009 and breaking the $1,000.00 mark for the for the third time in about a year and a half.
AUD/USD
AUDUSD: Breaks The 0.8857 level, Resumes Its Medium Term Uptrend by FXTechstrategy
The pair has broken the 0.8857 level intra and has resumed its medium term uptrend with the next upside target standing at its Aug 10'08 high at 0.8950.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com
[ 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 | |
| Oct 8 | 11:00 | BoE Interest Rate Decision | 0.5% | 0.5% |
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Oct 8 | 11:45 | ECB Interest Rate Decision | 1% | 1% |
EMU economic indicators - ECB council: No policy change by BHF−Bank
The ECB Council is holding its regular monthly meeting on Thursday. The interest rate decision will be announced at 13:45hrs, the press conference is scheduled for 14:30hrs. Over the last few weeks, policymakers have repeatedly stated that it is too early to withdraw stimulus and declare the crisis over.
[ Full Story ]Forex Trading Strategies - ECB, EuroZone politicians clearly fed up with Euro strength by Saxo Bank
US TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Oct 9 | 12:30 | Trade Balance | -$32.70B | -$31.96B |
US economic indicators - Trade balance (Aug): Rising slightly due to higher prices by BHF−Bank
Top Market Movers Review
UK INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 6 | 08:30 | Industrial Production (YoY) | -11.2% | -8.8% | -9.9% |
| Oct 6 | 08:30 | Manufacturing Production (YoY) | -11.3% | -9.3% | -10.1% |
| Oct 6 | 08:30 | Industrial Production (MoM) | -2.5% | 0.1% | 0.4% |
| Oct 6 | 08:30 | Manufacturing Production (MoM) | -1.9% | 0.3% | 0.9% |
- DATA SNAP: UK Mfg Output Slumps Unexpectedly In August (Dow Jones)
- Forex: GBP/USD: Pound plunges below 1.6000 on weak industrial production (FXstreet.com)
- UK Industrial Production YoY declines by 11.2% in Aug, Manufacturing by 11.3% (FXstreet.com)
Top Fundamental Stories - United Kingdom Industrial and Manufacturing Production Plummet by ecPulse.com
Top Fundamental Stories - Europe Ahead: House Prices Slightly Retreat, While Manufacturing and Industrial Production Show Decline by ecPulse.com
UK HALIFAX HOUSE PRICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 6 | 08:00 | Halifax House Prices (MoM) | 1.6% | 1.0% | 0.8% |
| Oct 6 | 08:00 | Halifax House Prices (YoY) | -7.4% | -7.7% | -10.1% |
UK Halifax House Prices increase 1.6% MoM in Sep, −7.4% YoY (FXstreet.com)
[ Full Story ]- DATA SNAP: UK Halifax House Prices Rise Again In September (Dow Jones)
- Forex: GBP/USD: Pound stretches to 1.6048 session high on housing prices (FXstreet.com)
Top Fundamental Stories - Europe Ahead: House Prices Slightly Retreat, While Manufacturing and Industrial Production Show Decline by ecPulse.com
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 6 | 03:30 | RBA Interest Rate Decision | 3.25% | 3.00% | 3.00% |
Top Fundamental Stories - The RBA decided to raise interest rates by 25 basis points by ecPulse.com
The Reserve Bank of Australia decided to raise interest rates by 25 basis points to reach 3.25% after it was kept at the low record of 3.00% for six months which was the lowest record in almost half century.
[ Full Story ]- Read the Rate data at RBA
- WORLD FOREX: Dollar Remains Lower After Australian Rate Hike (Dow Jones)
- WORLD FOREX: Australian Interest Hike Dents US Dollar (Dow Jones)
- UPDATE:Asian Shrs End Up;RBA First G−20 Ctrl Bank To Hike Rates (Dow Jones)
The Overnight Express: North American Edition - RBA Unexpectedly Hikes Rates to 3.25% by The Overnight Express
The Dollar Again Under Pressure As Australia Raise Rates by ACM − Advanced Currency Markets
Asia Market Update - RBA surprises with 25bp hike while Aussie trade balance disappoints by TradeTheNews.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 6 | 14:00 | CA | Ivey Purchasing Managers Index (Sep) | 61.7 | 56.9 | 55.7 |
| 14:00 | UK | NIESR GDP Estimate (Sep) | 0.0% | 0.1% |
||
| 20:30 | US | API Crude Oil Inventories (Oct 2) | 2757K | |||
| 21:00 | US | ABC/Washington Post Consumer Confidence (Oct 4) | -46 | |||
| 23:01 | UK | Nationwide Consumer Confidence (Sep) | 68 | 63 | ||
| Oct 7 | 01:30 | AU | Home Loans (Aug) | -2% | ||
| 01:30 | AU | Investment Lending (Aug) | -4% | |||
Educational Resources
Methods of Forecasting the Behavior of the Forex Market
Trying to predict market activity is a complex exercise. Franco Shao looks at the different strategies for predicting market activity – Technical analysis and Fundamental analysis. Read the article!
Other articles from Forex Journal
Choosing an Online Account Type for Forex Trading by Michael Hiller
Top ten tips for forex success - Read first part of the Jade Gate's article