Thursday, Dec 20, 08:21 GMT
EUROPEAN Trading Newsletter
To Get Started
- Check out our World Indices Rates
- Monthly Webinar with Sunil Mangwani (FX Instructor) on Thurs. 20th
- Financials, Indices, Metals and Energies on the Futures Section
- NEW Webinar Video: Longer-term Trading Straddles and Strangles in the Forex by John Jagerson
- The Advisor Blog: At the Open.
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Live Sessions Schedule
Watch Live Coverage of the US GDP
Expert: Jerry Furst
Start: Thu, Dec 20, 12:30 GMT
Sponsored by: 
Type of Session: Webinar
MONTHLY WEBINAR − Part 1: Using stops effectively
Expert: Sunil Mangwani
Start: Thu, Dec 20, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Dec 20, 12:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
| Thu, Dec 20, 15:00 GMT | MONTHLY WEBINAR − Part 1: Using stops effectively | Sunil Mangwani | WBN | |
| Thu, Dec 20, 17:00 GMT | MONTHLY WEBINAR − Part 2: Trading the FxInstructor setups  | Sunil Mangwani | WBN |  |
| Fri, Dec 21, 11:00 GMT | What Moves Currencies? − Weekly Wrap−Up | Tony Juste | WBN |  |
Current Session: Europe
EUR/USD
Daily Recommended Trades − The euro slumped versus the U.S. dollar on yesterday by E−Forex
The euro slumped versus the U.S. dollar on yesterday, being unable to find intra−day support above the 1.44 mark and it declined, reaching 1.4325 before climbing back towards the 1.4400 level. Support is now formed by 1.4355 backed by 1.4330 and 1.4300. Resistance starts at 1.4385 followed by 1.4425 and 1.4455.
- Technical Trigger: GBP/USD 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 Forex Technical Report − Dollar Remains Firm in Thin Holiday Market, Cable below 2 by ActionForex.com
Daily technical research − Euro broke lower on Wednesday by FX Instructor
Forex Technical Report − Forex Technical Report EUR/USD by iFOREX.bg
Currencies at a Glance
- EUR/USD
- Moves down below pivot level 1.4377
12/20/2007 07:57 GMT - GBP/USD
- Moves down below opening price level 1.9978 , below pivot level 2.0034
12/20/2007 07:57 GMT - USD/CHF
- Continues to trade around pivot level 1.1550
12/20/2007 07:58 GMT - USD/JPY
- Continues to trade around pivot level 113.22
12/20/2007 07:58 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
UK GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Cons. | Previous | |
| Dec 20 | 09:30 | Gross Domestic Product (QoQ) | 0.7% | 0.8% |
| Dec 20 | 09:30 | Gross Domestic Product (YoY) | 2.9% | 3.1% |
European and US summary - GDP Plummets on Dovish BoE by Forexnews.com
Traders will turn to UK economic data due out on Thursday, consisting of Q3 GDP and current account balance. The final readings for Q3 GDP are seen unchanged at 0.7% q/q and 3.2% y/y. Meanwhile, the current account deficit is expected to expand to 11.5 billion sterling, up from the 9.05 billion sterling deficit from Q2.
[ Full Story ]Top Market Movers Review
Germany GFK CONSUMER CONFIDENCE SURVEY
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 20 | 07:00 | Gfk Consumer Confidence Survey | 4.5 | 4.0 | 4.4 |
UPDATE: German Consumer Sentiment Stable, To Support '08 Econ (Dow Jones)
An improvement in German consumers' intentions to carry out big−ticket purchases in December is stabilizing consumer sentiment, which could boost economic growth next year, market research group GfK said Thursday.
[ Full Story ]- Read the report: Consumers in the mood to spend at the end of the year at Gfk Group
- German Gfk Consumer Sentiment index posts higher than expected in January (FXstreet.com)
- Germany Jan Gfk Consumer Confidence Survey up to 4.5 vs 4.4 (FXstreet.com)
- DATA SNAP: German Jan Consumer Sentiment 4.5 Vs 4.4 In Dec (Dow Jones)
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 20 | 05:00 | BoJ Interest Rate Decision | 0.5% | 0.5% | 0.5% |
Bank of Japan votes unanimously to keep overnight call rate target unchanged (Thomson Financial News)
The Bank of Japan kept its overnight call rate target unchanged at 0.5 percent for the 12th straight meeting Thursday, as widely expected. This gives the central bank more time to see if the volatility in financial markets triggered by the credit crisis will settle down, and whether continuing weakness in the US housing market poses any downside risk to growth in the US, one of Japan's most important trading partners.
[ Full Story ]- Read the Interest Rate decision report at Bank of Japan
- Bank of Japan downgrades economic assessment for December − UPDATE (Thomson Financial News)
- Bank of Japan keeps key interest rate unchanged as expected − UPDATE (Thomson Financial News)
- Japanese government bond prices end morning flat to higher ahead of BoJ move (Thomson Financial News)
Daily Forex Outlook - BoE minutes confirms a 9 – 0 vote. Focus on BoJ rate announcement by Easy Forex
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 20 | 07:00 | DE | Gfk Consumer Confidence Survey (Jan) | 4.5 | 4.0 | 4.4 |
| 07:15 | CH | Trade Balance (Nov) | 1.89B | 1.40B |
||
| 08:15 | CH | Producer and Import Prices (MoM) (Nov) | 0.3% | 0.2% | 0.2% | |
| 08:15 | CH | Producer and Import Prices (YoY) (Nov) | 3.0% | 2.9% | 2.7% | |
| 09:30 | UK | BSA Mortgage approvals s.a | 4B | |||
| 09:30 | UK | Current Account (3Q) | -£11.4B | -£9.1B | ||
| 09:30 | UK | Gross Domestic Product (QoQ) (3Q) | 0.7% | 0.8% | ||
| 09:30 | UK | Gross Domestic Product (YoY) (3Q) | 2.9% | 3.1% | ||
| 09:30 | UK | M4 Money Supply (MoM) (Nov)  | 0.4% | 0.2% | ||
| 09:30 | UK | M4 Money Supply (YoY) (Nov) | 11.6% | 11.8% | ||