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EUROPEAN Trading Newsletter
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FX Instructor Live Trading Room− Free Acces Day
Expert: Sunil Mangwani
Start: Wed, Dec 12, 10:00 GMT
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Type of Session: Webinar
What Moves Currencies?− A look at GBP crosses
Expert: Tony Juste
Start: Wed, Dec 12, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Dec 12, 10:00 GMT | FX Instructor Live Trading Room− Free Acces Day | Sunil Mangwani | WBN | |
| Wed, Dec 12, 11:00 GMT | What Moves Currencies?− A look at GBP crosses | Tony Juste | WBN | |
| Wed, Dec 12, 13:00 GMT | Larry Levin's Trading Strategies− Free Acces Day | Larry Levin | WBN |  |
| Wed, Dec 12, 14:00 GMT | Level of Sentiment in the FX Market − Free Access Day | Antonio Sousa | WBN |  |
Current Session: Europe
EUR/USD
Daily Recommended Trades − EUR/USD daily outlook by E−Forex
The Euro lost some ground versus the dollar on yesterday after it failed to establish support above the 1.47 mark and it declined towards the mid 1.46 area. Support is now formed by 1.4675 backed by 1.4650 and 1.4610. Resistance starts at 1.4715 followed by 1.4750 and 1.4800. Daily momentum is slightly bearish while the Euro holds into the range of 1.4650−1.4750, hourly studies being bullish at the time of this writing.
- Intraday reversal 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:
Forex Technical Report − Forex Technical Report EUR/USD by iFOREX.bg
Daily Forex and Dow Jones Recommended Levels − Fxtechtrade by FXtechtrade
Forex Technical Analysis − EUR/USD: (1.4677) Above bullish Flag from 1.4968 by KBC Bank
Currencies at a Glance
- EUR/USD
- Moves up above first resistant level 1.4723
12/12/2007 07:54 GMT - GBP/USD
- Moves up toward first resistant level 2.0465
12/12/2007 07:55 GMT - USD/CHF
- Moves down toward first support level 1.1254
12/12/2007 07:56 GMT - USD/JPY
- Trades around pivot level 111.09
12/12/2007 07:56 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
EMU INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Dec 12 | 10:00 | Industrial Production s.a. (MoM) | 0.2% | -0.7% |
| Dec 12 | 10:00 | Industrial Production w.d.a. (YoY) | 3.7% | 3.5% |
EMU economic indicators - German ZEW economic sentiment is expected to decline in December by BHF−Bank
October EMU industrial production probably only increased slightly, as the corresponding German figure declined.
[ Full Story ]Top Market Movers Review
Japan ADJUSTED CURRENT ACCOUNT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 11 | 23:50 | Adjusted Current Account | ¥2229B | ¥2270B | ¥2242B |
Japan Oct Unadjusted Current Account Surplus Up 45.7% On Yr (Dow Jones)
Japan's current account surplus grew for the 10th straight month in October, expanding 45.7% from a year earlier, the government said Wednesday, giving a good start for external demand in the fourth quarter.The surplus in the current account, the broadest measure of Japan's trade with the rest of the world, stood at Y2.229 trillion in October before seasonal adjustment, the Finance Ministry data showed.
[ Full Story ]- Read the Current Account report at Japan Ministry of Finance
- Japan's current account surplus up 45.7 pct in October, beats forecast UPDATE2 (Thomson Financial News)
- Japan Portfolio Flows: Net Y4T Capital Inflow In Nov (Dow Jones)
- Japan current account surplus rises 45.7 pct in October, beats forecast − UPDATE (Thomson Financial News)
US FED INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 11 | 19:15 | Fed Interest Rate Decision | 4.25% | 4.25% | 4.50% |
European and US summary - FOMC Trims 25−bp, USD, JPY Buoyed by Forexnews.com
The FOMC, as largely anticipated, cut its benchmark lending rate by 25−basis points to 4.25% while also lowering the discount rate by 25−basis points to 4.75%. Given the reaction by the US equity bourses, markets were hoping for either a more aggressive ease or language from the Fed. The yen strengthened across the board following the decision, rallying on its inverse correlation with equities.
[ Full Story ]- Read the FOMC statement
- Forex − Dollar bounces back slightly after Fed's tame interest rate cut (Thomson Financial News)
- FOCUS Fed disappoints markets with 'unsatisfactory' compromise (Thomson Financial News)
- Dollar mixed after Fed cuts rates (Thomson Financial News)
Daily Forex Technical Report − Yen Gives Back Some Post FOMC Gains, EUR/USD in Range by ActionForex.com
The Mid−Day Minute - Q's in Post−Announcement Correction by MPTrader.com
Overnight Briefing: Far East Timezone - Asian stocks fell after Fed rate cut disappointed by Jyske Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 11 | 23:50 | JP | Adjusted Current Account (Oct) | ¥2229B | ¥2270B | ¥2242B |
| 23:50 | JP | Domestic Corporate Goods Price Index (MoM) (Nov) | 0.2% | 0.1% | -0.1% | |
| 23:50 | JP | Domestic Corporate Goods Price Index (YoY) (Nov) | 2.3% | 2.1% | 2.4% | |
| Dec 12 | 06:00 | JP | Machine Tool Orders (YoY) (Nov) | 13.0 | 16.6 | |
| 09:30 | UK | Average Earnings excluding Bonus (3Mo/Yr) (Oct) | 3.7% | 3.7% | ||
| 09:30 | UK | Average Earnings including Bonus (3Mo/Yr) (Oct) | 4.2% | 4.1% | ||
| 09:30 | UK | Claimant Count Rate (Nov) | 2.6% | 2.6% | ||
| 09:30 | UK | ILO Unemployment Rate (Oct) | 5.4% | 5.4% | ||
| 09:30 | UK | Jobless Claims Change (Nov) | -5.0K | 9.9K | ||
| 10:00 | EMU | Employment Change (QoQ) (3Q) | 0.5% | |||