Thursday, Oct 08, 16:28 GMT
ASIA-PACIFIC Trading Newsletter
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Forex Blogs
Tech Trading: Intraday Outlook by César B. Leiceaga
GBP/USD: Broke 1,5940−50 level triggering a rally towards 1,6090. Critical resistance ahead at 1,6125, a break and close above would confirm a double bottom.
Francesc's Weblog: Mitul Kotecha joins FXstreet.com as new contributor by Francesc Riverola
FxBootcamp: FOREX VIDEO - London Session Review - October 8, 2009 by Christian Stephens
Sponsored by 
Live Sessions Schedule
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Mon, Oct 12, 05:00 GMT
Type of Session: Webinar
Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Mon, Oct 12, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Oct 8, 14:00 GMT | Looking at economic data  | Adam Rosen | WBN |  |
| Fri, Oct 9, 09:00 GMT | Trading the Harmonic patterns | Sunil Mangwani | WBN | |
| Fri, Oct 9, 13:00 GMT | Live Trading Set Ups with Chart Patterns and Market Cycles | Raghee Horner | WBN | |
| Mon, Oct 12, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Mon, Oct 12, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
Current Session: U.S.
Cable, potential for week or 2 of sharp gains...
FXA −In cable, the longer term view is unchanged as the last few months of choppy trade is seen as topping, forming a bearish head and shoulders over that time. Though this suggests an eventual downside resolution, there is scope for another week of 2 of ranging/nearer term upside within the pattern first (see "ideal" scenario in red on weekly chart below). Note too that the macd has recently given a new sell signal (see bottom of weekly chart below), adding weight to the view that a week or 2 of gains (if it does indeed occur) would be seen as part of a larger topping, and not the start of a major new upleg.
USD/JPY
Consolidates Above Tuesday Lows by FastBrokersFX
The USD/JPY is retrenching above 10/27 and 9/28 lows as gold and the AUD/USD begin to top out. However, the GBP/USD and EUR/USD are strengthening today, normally a negative catalyst for the USD/JPY.
AUD/USD
AUD continues higher on Gold and Labor Report by Saxo Bank
It looks like AUD is a "buy on dips" −− certainly as long as the stock market continues higher and the risk appetite is strong. Who knows, if/when S&P500 is approaching the big−picture 50% Fibonacci retracement around 1121.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com, Financial Trend Analysis
[ 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 | |
| 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
US INITIAL JOBLESS CLAIMS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 8 | 12:30 | Initial Jobless Claims | 521K | 541K | 554K |
| Oct 8 | 12:30 | Continuing Jobless Claims | 6040K | - | 6090K |
- UPDATE: US Jobless Claims Down 33K To 521K In Oct 3 Week (Dow Jones)
- CORRECT: US Jobless Claims −33K To 521K In Oct 3 Week; Survey −11K (Dow Jones)
- US Jobless Claims −33K To 521K In Oct 3 Week; Survey −11K (Dow Jones)
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 8 | 11:45 | ECB Interest Rate Decision | 1% | 1% | 1% |
ECB keeps its Refi Rate unchanged at 1.0%; Euro testing 1.4750 (FXstreet.com)
The European Central Bank Monetary Policy Committee has decided to leave its Refi Rate unchanged at 1.0% after its monetary policy meeting.
[ Full Story ]- Read the official statement at ECB
- ECB keeps its refi rate unchanged at 1% (FXstreet.com)
- Forex: EUR/USD: Euro stalls below 1.4785 day high ahead of ECB (FXstreet.com)
ECB preview: The system is liquid enough by Danske Bank A/S
European Market Update - Risk appetite continues to rise ahead of European central bank meetings by TradeTheNews.com
ECB: Preview October Rate Decision by RANsquawk
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 8 | 11:00 | BoE Interest Rate Decision | 0.5% | 0.5% | 0.5% |
Top Fundamental Stories - BoE Leaves the Interest Rate Unchanged for the Seventh Month by ecPulse.com
[ Full Story ]- Read the official statement at BoE
- Forex: GBP/JPY falls from intra−day high at 142.37 to 141.60 after BoE unchanged policy (FXstreet.com)
- BoE leaves Bank Rate unchanged at 0.5%; GBP edges down (FXstreet.com)
- BOE Leaves Bond Buying Program, Key Interest Rate Unchanged (Dow Jones)
The Overnight Express: North American Edition - BOE Maintains the Status Quo by The Overnight Express
European Market Update - Risk appetite continues to rise ahead of European central bank meetings by TradeTheNews.com
BOE Preview: October interest rate decision by RANsquawk
Australia UNEMPLOYMENT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 8 | 00:30 | Employment Change | 40.6K | -10.0K | -26.1K |
| Oct 8 | 00:30 | Unemployment Rate | 5.7% | 6.0% | 5.8% |
DATA SNAP: Australian Sep Unemployment Rate 5.7% (Dow Jones)
[ Full Story ]- Read the Unemployment data at ABS
- UPDATE: Asian Shrs End Higher; Aussie Jobs Data Boosts Region (Dow Jones)
- Australia September Unemployment 5.7% (Forex Live)
US Morning Notes - USD lower, AUD a 14 month high as unemployment falls by Easy Forex
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 8 | 12:30 | US | Initial Jobless Claims (Oct 3) | 521K | 541K | 554K |
| 14:00 | US | Wholesale Inventories (Aug) | -1.3% | -1.0% | -1.6% |
|
| 21:45 | NZ | Credit Card Spending (Sep) | 0.1% | |||
| 23:00 | US | Fed's Bernanke Speech | ||||
| 23:50 | JP | Core Machinery Orders (MoM) (Aug) | 9.7% | |||
| Oct 9 | 06:00 | DE | Consumer Price Index (MoM) (Sep) | -0.4% | 0.2% | |
| 06:00 | DE | Trade Balance (Aug) | 12.4B | 13.9B | ||
Educational Resources
I had a few vacation days in Spain with a group of friends. We had a great time and the company, weather and food couldn't have been better. It was pretty much the perfect weekend away, except for one thing – the exchange rate! As many of you would have noticed, my home currency, the Great British Pound, has been having a hard time over the last year. Read Sam Evans' article
From the Lessons From the Pros as well:
$8000 Tax Credit for the Purchase of Real Estate by Diana Hill