Wednesday, Dec 05, 08:20 GMT
EUROPEAN Trading Newsletter
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Live Sessions Schedule
Tracking the forex market together / Part I
Expert: Dr.S.Sivaraman
Start: Wed, Dec 5, 10:00 GMT
Type of Session: Webinar
What Moves Currencies? − Major Movers of the Day
Expert: Tony Juste
Start: Wed, Dec 5, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Dec 5, 10:00 GMT | Tracking the forex market together / Part I | Dr.S.Sivaraman | WBN |  |
| Wed, Dec 5, 11:00 GMT | What Moves Currencies? − Major Movers of the Day | Tony Juste | WBN | |
| Wed, Dec 5, 12:00 GMT | FX Instructor Live Trading Room  | Mihai Marinescu | WBN |  |
| Wed, Dec 5, 14:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN |  |
Current Session: Europe
GBP/USD
Daily Forex Technical Report − Markets Remains Directionless, Services and Employment Data Eyed by ActionForex.com
Cable weakens mildly today and is set to retest 2.0517 support again. As discussed before, with 4 hours MACD staying negative, the rebound from 2.0353 could have completed at 2.0830 already after failing mentioned 2.0845 cluster resistance (61.8% retracement of 2.1161 to 2.0353 at 2.0852). At this point, further decline is still mildly in favor as long as 2.0699 resistance holds. Break of 2.0517 will encourage retest of 2.0353 low.
- Extreme OB/OS levels at this hour 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 Technical Analysis − EUR: Bouncing suddenly from trendline support by Mizuho Corporate Bank
Forex Technical Report − Forex Technical Report EUR/USD by iFOREX.bg
Daily Market Commentary − The pound led the European currencies down on Wednesday by Global Forex Trading
Currencies at a Glance
- EUR/USD
- Moves down toward pivot level 1.4721
12/05/2007 08:06 GMT - GBP/USD
- Trades around first support level 2.0544
12/05/2007 08:06 GMT - USD/CHF
- Moves up toward pivot level 1.1214
12/05/2007 08:07 GMT - USD/JPY
- Continues to move up above first resistant level 110.40
12/05/2007 08:07 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, Aspen Trading Group, 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
UK PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Cons. | Previous | |
| Dec 5 | 09:30 | Purchasing Manager Index Services | 52.9 | 53.1 |
Friday Notes - Outlook 2008 – Gloom but no Doom by HVB Group
In October, a first tangible sign of the financial market turmoil started to be felt, with the services PMI plunging to 53.1 – which is about one standard deviation below the long−term average − from 56.7.
[ Full Story ]Top Market Movers Review
Australia GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 5 | 00:30 | Gross Domestic Product (YoY) | 4.3% | 4.8% | 4.3% |
| Dec 5 | 00:30 | Gross Domestic Product (QoQ) | 1.0% | 1.0% | 0.9% |
Australian 3Q GDP +1.0% On Qtr Vs +1.0% Consensus (Dow Jones)
Australia's average measure of gross domestic product rose 1.0% in the third quarter of 2007 from the second quarter and rose 4.3% from the year−earlier period, the Australian Bureau of Statistics said Wednesday.
[ Full Story ]- Read the Gross Domestic Product report at Australian Bureau of Statistics
- Australian household spending fuels Q3 GDP growth, inflation a risk − economists (Thomson Financial News)
- Australia's Q3 GDP rises 1.0 percent from Q2, 4.3 pct from year earlier − UPDATE (Thomson Financial News)
- Australia's Q3 GDP rises 1.0 percent quarter−on−quarter, 4.3 pct year−on−year (Thomson Financial News)
UK NATIONWIDE CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 5 | 00:01 | Nationwide Consumer Confidence | 86 | 94 | 98 |
UK Nov Consumer Confidence Slumps 12 Points −Nationwide (Dow Jones)
U.K. consumer confidence slumped in November by the steepest amount over the space of a month in the history of the survey, data from U.K. lender Nationwide showed Wednesday.
[ Full Story ]- Read the Consumer Confidence report at Nationwide website
- UK Nov consumer confidence slumps to lowest level since Feb − Nationwide (Thomson Financial News)
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 4 | 22:30 | RBA Interest Rate Decision | 6.75% | 6.75% | 6.75% |
Overnight Briefing: Far East Timezone - Unchanged from RBA by Jyske Bank
Australia's central bank skipped a chance to raise interest rates on Wednesday as turmoil in global credit markets clouded the outlook for the world economy, even as economic growth at home hit a three−year high.
[ Full Story ]- Read the Interest Rate Decision report at Reserve Bank of Australia
- Australia's central bank more dovish but February rate hike still possible (Thomson Financial News)
- Australia's central bank remains concerned about inflation outlook (Thomson Financial News)
- Australia's central bank leaves cash target rate at 6.75 percent (Thomson Financial News)
Asia Market Update - AUD Drops As Central Bank Improves Transparency by Trade The News
Daily Forex Outlook - Bank of Canada cut rates by 25 basis points, as RBA hold by Easy Forex
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 5 | 00:01 | UK | Nationwide Consumer Confidence (Nov) | 86 | 94 | 98 |
| 00:30 | AU | Gross Domestic Product (QoQ) (3Q) | 1.0% | 1.0% | 0.9% | |
| 00:30 | AU | Gross Domestic Product (YoY) (3Q) | 4.3% | 4.8% | 4.3% | |
| 02:00 | NZ | ANZ Commodity Price (Nov) | 0.8% | 1.8% | ||
| 08:30 | EMU | ECB's Trichet Speaks | ||||
| 08:55 | DE | Purchasing Manager Index Services (Nov) | 53.5 | 55.1 | ||
| 09:00 | EMU | Purchasing Manager Index Services (Nov) | 53.7 | 55.8 | ||
| 09:30 | UK | Purchasing Manager Index Services (Nov) | 52.9 | 53.1 | ||
| 10:00 | EMU | Retail Sales (MoM) (Oct) | -0.3% | 0.3% | ||
| 10:00 | EMU | Retail Sales (YoY) (Oct) | 1.2% | 1.6% | ||