Wednesday, Oct 24, 07:23 GMT
EUROPEAN Trading Newsletter
To Get Started
- Final countdown: 1 day left for the ITC!!
- NEW Webinars Video - Access now Educational Sessions Recordings
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- Long-term Forex Perspectives: Our new blog by John Jagerson and S. Wade Hansen
- Special Coverage - G7 Meeting Review by FXstreet.com
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The Brokers (re) Evolution: NFA Regulation
Dan Roth, CEO and President for the NFA: "The number of forex firms is not the issue for us" by FXstreet.com
"The purpose of the proposal is to improve customer protection. Acting as an off−exchange forex dealer involves greater risk than acting as an agent in on−exchange futures trading. The increase of minimum capital to at least $20 million will help ensure that forex firms can meet their obligations to their customers."
- The last minute of the story on the Special Coverage by FXstreet.com editors team
- Read the interviews with some of the main Forex Brokers' CEOs
Live Sessions Schedule
What Moves Currencies? − Focus on carry trade
Expert: Tony Juste
Start: Wed, Oct 24, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
FX Instructor Live Trading Room
Expert: Sunil Mangwani
Start: Wed, Oct 24, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Oct 24, 10:00 GMT | What Moves Currencies? − Focus on carry trade | Tony Juste | WBN | |
| Wed, Oct 24, 11:00 GMT | FX Instructor Live Trading Room  | Sunil Mangwani | WBN | |
| Wed, Oct 24, 13:00 GMT | Main Fundamental theme in the Currency market | Boris Schlossberg | WBN |  |
| Wed, Oct 24, 16:00 GMT | G7 and Currency Market Outlook | Don Wilcox | WBN |  |
Current Session: Europe
EUR/USD
Currency Majors Technical Analysis − 1,4249. EUR USD is in a consolidation by Mataf.net
1,4249. EUR USD is in a consolidation after the last bullish movement. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Oscillators are neutral. The price should continue to consolidate. We won't take a position.
- EUR/JPY hits intraday extreme OB territory at Tony Juste's blog
- Long−term Forex Perspectives: Our new blog by John Jagerson and S. Wade Hansen
- New Webinars Video − Access now Educational Sessions Recordings
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
- Be up to date with the Latest Forex News
Other Topics for this Session:
Daily Recommended Trades − EUR/USD daily outlook by E−Forex
Daily Forex Technical Report − Markets Hesitate ahead of US Existing Home Sales by ActionForex.com
Forex Technical Report − Forex Technical Report EUR/USD by iFOREX.bg
Currencies at a Glance
- EUR/USD
- Moves down below pivot level 1.4237
10/24/2007 06:58 GMT - GBP/USD
- Moves down toward pivot level 2.0444
10/24/2007 06:58 GMT - USD/CHF
- Moves up above pivot level 1.1739
10/24/2007 06:59 GMT - USD/JPY
- Trades around first support level 114.28
10/24/2007 07:00 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
EMU PMI MANUFACTURING INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Oct 24 | 08:00 | PMI Manufacturing Index | 52.9 | 53.2 |
| Oct 24 | 08:00 | Purchasing Manager Index Services | 54.5 | 54.2 |
Friday Notes - Strong Q3 GDP Growth – A False Dawn by HVB Group
The October flash estimate of the eurozone manufacturing PMI should confirm the downward trend of the last several months. However, we expect a release consistent with still positive growth in the manufacturing sector.
[ Full Story ]Top Market Movers Review
Australia CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 24 | 01:30 | Consumer Price Index (QoQ) | 0.7% | 0.9% | 1.2% |
| Oct 24 | 01:30 | Consumer Price Index (YoY) | 1.9% | 2.1% | 2.1% |
Asia Market Update - Markets Decide RBA Rate Hike Is A Done Deal After Inflation Data by Trade The News
Aussie Q3 core inflation stronger than expected: (AU Q3 CPI QOQ: 0.7% V 0.9% expected, YOY: 1.9% V 2.1% expected; RBA TRIMMED MEAN QOQ: 0.9% V 0.8% expected, YOY: 2.9% V 2.8% expected.
[ Full Story ]- Read the Consumer Price Index report at Australian Bureau of Statistics
- Australia's Q3 CPI data points to rate hike in November, more to come (Thomson Financial News)
- CORRECTION − Australia's Q3 headline CPI up 0.7 pct qtr−on−qtr − UPDATE (Thomson Financial News)
- Australia set for November rate hike following Q3 CPI data − HSBC (Thomson Financial News)
Japan MERCHANDISE TRADE BALANCE TOTAL
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 23 | 23:50 | Merchandise Trade Balance Total | ¥1637.800B | ¥1470.000B | ¥743.238B |
| Oct 23 | 23:50 | Adjusted Merchandise Trade Balance | ¥1034.300B | ¥916.300B | ¥1144.909B |
Japan Sep Trade Surplus Up 62.7% Y/Y; Expected +45.1% (Dow Jones)
Japan's merchandise trade surplus rose 62.7% in September from a year earlier to Y1.638 trillion, the Ministry of Finance said Wednesday. It was the second consecutive month of rise, boding well for the Japanese economy which has long been supported by strength in exports.
[ Full Story ]- Read the Trade Balance report at Japan Ministry of Finance
- Japan September trade figures with Asian countries (Thomson Financial News)
- Japan September trade figures with Asia, US and EU (Thomson Financial News)
- Japan trade surplus rises 62.7 pct in September, beats forecast (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 23 | 23:50 | JP | Adjusted Merchandise Trade Balance (Sep) | ¥1034.300B | ¥916.300B | ¥1144.909B |
| 23:50 | JP | Merchandise Trade Balance Total (Sep) | ¥1637.800B | ¥1470.000B | ¥743.238B | |
| Oct 24 | 01:30 | AU | Consumer Price Index (QoQ) (3Q) | 0.7% | 0.9% | 1.2% |
| 01:30 | AU | Consumer Price Index (YoY) (3Q) | 1.9% | 2.1% | 2.1% | |
| 08:00 | EMU | Current Account (Aug) | 2.0B | 1.7B | ||
| 08:00 | EMU | PMI Manufacturing Index (Oct)  | 52.9 | 53.2 | ||
| 08:00 | EMU | Purchasing Manager Index Services (Oct) | 54.5 | 54.2 | ||
| 14:00 | US | Existing Home Sales (Sep) | 5.25 | 5.50 | ||
| 14:00 | US | Existing Home Sales (MoM) (Sep) | -4.5% | -4.3% | ||
| 21:00 | NZ | RBNZ Interest Rate Decision | 8.25% | 8.25% | ||