Wednesday, Aug 13, 07:29 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Recommended Readings
1st on Forex: Dollar Stalls vs Euro − Falls vs Yen by Jerry Furst
The US Dollar Rally took a rest on Tuesday even as good news for the Greenback came in the way of a better than expected Trade Balance report.
Forexology: Bearish Butterfly on the Aud/Nzd by Sunil Mangwani
FxBootcamp: Pre London Review August 12th 2008 by Wayne McDonell
Live Sessions Schedule
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Aug 13, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Profiting from Fear and Greed by trading against the crowd
Expert: David Rodríguez
Start: Wed, Aug 13, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Aug 13, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Wed, Aug 13, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Aug 13, 13:00 GMT | Profiting from Fear and Greed by trading against the crowd | David Rodríguez | WBN | |
| Wed, Aug 13, 14:00 GMT | Longer−term Support and Resistance Trading: Setups and Rules | Rob Booker | WBN |  |
Current Session: Europe
GBP/USD
Daily Technical Analysis − EUR: Buy at 1.4935; stop below 1.4800 by Mizuho Corporate Bank
Eight consecutive down days, the fourth lower weekly candle, and more oversold against the dollar than it has been since 1992; this sort of thing is obviously not sustainable. Cable is making rather a hash of trying to stabilise against 1.9000 but the effort is worth it. A very cautious stance is warranted.
- Gbp/Usd and Usd/Jpy for today by Valeria Bednarik, Analyst at MolFX − Management
- Forex Swing Trading, Low Risk / High Reward Trading In The Largest by Sam Seiden, Stocks, Futures, Forex and Options Trader Online Trading Academy
- Institutional Trading Strategies by John Jagerson, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
FXA Column − Eur/yen, time to take large profits ? by FXA
Bank Report
Forex Trading Strategies − JPY stronger despite negative Japan GDP figure by Saxo Bank
Currency Performance Report
Currency Performance Report − Asia Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Trades around opening price level 1.4925 , above pivot level 1.4901
08/13/2008 06:54 GMT - GBP/USD
- Trades around opening price level 1.8965 , below pivot level 1.9012
08/13/2008 06:55 GMT - USD/CHF
- Moves down towards first support level 1.0822
08/13/2008 06:55 GMT - USD/JPY
- Moves down below second support level 108.52
08/13/2008 06:56 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 INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Aug 13 | 09:00 | Industrial Production s.a. (MoM) | 0.1% | -1.9% |
| Aug 13 | 09:00 | Industrial Production w.d.a. (YoY) | 0.2% | -0.6% |
EMU economic indicators - EMU industrial production (June): more or less unchanged by BHF−Bank
EMU industrial production might have remained more or less unchanged in June, as the corresponding national figures showed mixed results.
[ Full Story ]Top Market Movers Review
Australia WAGE PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 13 | 01:30 | Wage Price Index (YoY) | 4.2% | 4.1% | 4.1% |
| Aug 13 | 01:30 | Wage Price Index (QoQ) | 1.2% | 1.0% | 0.9% |
Australia 2Q Wage Index +1.2% On Qtr Vs Consensus +1.1% (Dow Jones)
Australian wages excluding bonuses rose 1.2% in the second quarter of 2008 from the first quarter and rose 4.2% from a year earlier, Australian Bureau of Statistics labor price data issued Wednesday show. Economists surveyed ahead of the announcement on average forecast a rise of 1.1% over the quarter and 4.1% from a year earlier.
[ Full Story ]- Read the Labour Price Index report at Australian Bureau of Statistics
- Australia Q2 wage price index rises 1.2 pct q/q (Thomson Financial News)
Japan GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 12 | 23:50 | Gross Domestic Product (QoQ) | -0.6% | -0.6% | 1.0% |
| Aug 12 | 23:50 | Gross Domestic Product Annualized | -2.4% | -2.3% | 4.0% |
DATA SNAP: Japan Apr−Jun GDP Down For 1st Time In Year (Dow Jones)
Japan's economy shrank for the first time in a year in the April−to−June period due to a slowdown in exports and weakening consumer spending, in line with expectations. Gross domestic product fell a price−adjusted 0.6% on quarter, after growing by a revised 0.8% in the January−March period, according to preliminary data released Wednesday by the Cabinet Office.
[ Full Story ]- Read the Gross Domestic Product report at Japan Cabinet Office
- Japan's economy falls for 1st time in four qtrs in Q2 as exports slump − UPDATE2 (Thomson Financial News)
- JGBs dip but losses limited on economy worries (Thomson Financial News)
- Japan April−June GDP Table Of Data (Dow Jones)
- Tatsuya Kawanishi, advisor at FXstreet.com: "High oil prices have put a dent in economic growth and hurt corporate earnings. Forecast is −0.6%. The event itself is expected to generate low volatility though." − FXstreet.com
Forex Trading Strategies - JPY stronger despite negative Japan GDP figure by Saxo Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 12 | 23:50 | JP | Trade Balance − BOP Basis (Jun) | ¥252.1B | ¥293.6 | ¥529.4B |
| Aug 13 | 00:30 | AU | Westpac Consumer Confidence (Aug) | 9.1% | -6.7% | |
| 01:30 | AU | Wage Price Index (QoQ) (2Q) | 1.2% | 1.0% | 0.9% | |
| 01:30 | AU | Wage Price Index (YoY) (2Q) | 4.2% | 4.1% | 4.1% | |
| 08:30 | UK | Average Earnings excluding Bonus (3Mo/Yr) (Jun) | 3.7% | 3.8% | ||
| 08:30 | UK | Average Earnings including Bonus (3Mo/Yr) (Jun) | 3.6% | 3.8% | ||
| 08:30 | UK | Claimant Count Rate (Jul) | 2.6% | 2.6% | ||
| 08:30 | UK | ILO Unemployment Rate (Jun) | 5.3% | 5.2% | ||
| 08:30 | UK | Jobless Claims Change (Jul) | 17K | 15K | ||
| 09:00 | EMU | Industrial Production s.a. (MoM) (Jun) | 0.1% | -1.9% | ||