Tuesday, Aug 19, 07:28 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar VIDEOS: Power Trading in Globalization 3.0 by John W. O'Donnell
- International Traders Conference - Oct 29-31: Join us in Barcelona to directly learn from the best FX experts!
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
Recommended Readings
Trader's Edge: The Big Mover − GBP/JPY by Ross Yamashita
It's good to be back and I wanted to take a look at the GBP/JPY daily chart. For those of you that trade this pair, you know this is a very fast moving pair and daily movements in this pair can be have some very big moves.
Chartology of the Day: Playing the downtrend on the 240 minute chart of the EUR/JPY by Raghee Horner
1st on Forex: Dollar Rally Stalls After Massive Move by Jerry Furst
Live Sessions Schedule
Outlook for the major currencies this week
Expert: Ian Copsey
Start: Tue, Aug 19, 08:00 GMT
Type of Session: Webinar
Dan Blystone's Weekly Briefing
Expert: Dan Blystone
Start: Tue, Aug 19, 12:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Aug 19, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Tue, Aug 19, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Aug 19, 12:30 GMT | Dan Blystone's Weekly Briefing | Dan Blystone | WBN | |
| Tue, Aug 19, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
Current Session: Europe
GBP/USD
Daily Market Commentary − The dollar consolidated near its high price versus the European currencies by Global Forex Trading
Sterling/dollar marked time further on Monday after coining a new low for the downtrend. The selling pressure should pause today as well as cable remains oversold in the short term. The immediate risk is higher. In the medium term, cable remains on track for the target of a long−term head−and−shoulders pattern that targets the 1.7550 area. Initial resistance still comes at 1.8700. Above 1.8786, further resistance comes at 1.8867. Below the immediate support at 1.8624, there is a pivot low at 1.8514. Further supports are seen at 1.8480 and 1.8405.
- 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:
Daily FX Report − New Zealand Q2 producer prices rose 5.6% by Varengold Wertpapierhandelsbank AG
Strategy Report
Daily Recommended Trades − Daily Technical Outlook − Tuesday 08.19.2008 by E−Forex
Weekly Report
Weekly Update − America's currency extended its rally from the prior week by Union Bank of California
Currencies at a Glance
- EUR/USD
- Moves down towards seconds support level 1.4614
08/19/2008 06:59 GMT - GBP/USD
- Moves down towards third support level 1.8515
08/19/2008 07:01 GMT - USD/CHF
- Moves up above first resistant level 1.1013
08/19/2008 07:01 GMT - USD/JPY
- Moves up back around pivot level 110.22
08/19/2008 07:01 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
Germany ZEW SURVEY − ECONOMIC SENTIMENT
| Date (GMT) | Event | Cons. | Previous | |
| Aug 19 | 09:00 | ZEW Survey − Economic Sentiment | -62.0 | -63.9 |
EMU economic indicators - German ZEW economic sentiment (August): down again, but not as sharply as in July by BHF−Bank
In August, the German ZEW economic sentiment will probably have dropped for the fifth consecutive time, but not as sharply as in the last two months.
[ Full Story ]Top Market Movers Review
Germany PRODUCER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 19 | 06:00 | Producer Price Index (MoM) | 2.0% | 0.7% | 0.9% |
| Aug 19 | 06:00 | Producer Price Index (YoY) | 8.9% | 7.5% | 6.7% |
DATA SNAP: German Annual July PPI Highest In Nearly 27 Years (Dow Jones)
German producer prices rose faster than expected in July, reaching the highest annual rate in nearly 27 years, the Federal Statistics Office Destatis said Tuesday.
[ Full Story ]- Read the PPI data at German Statistics
- UPDATE: German Annual July PPI Highest In Nearly 27 Years (Dow Jones)
- German July PPI up 2.0 pct vs June, up 8.9 pct year−on−year (Thomson Financial News)
- Germany Jul Producer Price Index (MoM) rises to 2% (FXstreet.com)
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 19 | 04:00 | BoJ Interest Rate Decision | 0.5% | 0.5% | 0.5% |
Bank of Japan leaves overnight call rate target unchanged at 0.5 pct as expected (Thomson Financial News)
The Bank of Japan (BOJ) left its overnight call rate target unchanged at 0.5 percent for the 21st straight meeting on Tuesday. The widely expected decision gives the Japanese central bank more time to assess the extent of a slowdown of the global economy, as well as the lingering credit crisis in the United States. The BOJ also needs to ascertain how quickly the Japanese economy can move out of a recession.
[ Full Story ]- Read the Interest Rate decision report at Bank of Japan
- Bank of Japan leaves o/n call rate unchanged at 0.5 pct as expected − UPDATE 2 (Thomson Financial News)
- Bank of Japan leaves o/n call rate unchanged at 0.5 pct as expected − UPDATE (Thomson Financial News)
- Foreign invested C$7.25B in Canadian securities in Jun UPDATE (FXstreet.com)
Daily FX Report - BoJ will probably keep rates on hold by Varengold Wertpapierhandelsbank AG
US NAHB HOUSING MARKET INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 18 | 17:00 | NAHB Housing Market Index | 16 | 16 | 16 |
NAHB: US Home Builder Confidence Stays At All−Time Low In Aug (Dow Jones)
The confidence of U.S. home builders stayed at an all−time low this month, but a trade group senses a bottom is near for withering sales. The National Association of Home Builders released results Monday of a monthly survey of builders' thoughts on market prospects. Its latest index for sales of new, single−family homes held steady at 16 in August, which is a record low.
[ Full Story ]- Read the Housing Market Index report at NAHB website
- US August NAHB housing index holds steady at record low 16 (Thomson Financial News)
- Tatsuya Kawashini, junior advisor at FXstreet.com: "NAHB Housing Market Index is the biggest event of today. It clearly shows a health condition of the U.S. housing market, that gives a reading on the overall economic outlook in the U.S. This event may also affect a future rate decision. Moderate volatility is expected." − FXstreet.com
Daily Global Commentary - Home Builders Survey Sends Gloomy Message Once Again by Northern Trust
Friday Notes - NAHB housing market index: Gloomy days for home builders by HVB Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 19 | 04:00 | JP | BoJ Interest Rate Decision | 0.5% | 0.5% | 0.5% |
| 06:00 | DE | Producer Price Index (MoM) (Jul) | 2.0% | 0.7% | 0.9% | |
| 06:00 | DE | Producer Price Index (YoY) (Jul) | 8.9% | 7.5% | 6.7% | |
| 07:28 | JP | BoJ's Governor Shirakawa Speech | ||||
| 09:00 | DE | ZEW Survey − Economic Sentiment (Jul) | -62.0 | -63.9 | ||
| 09:00 | EMU | ZEW Survey − Economic Sentiment (Jul) | -65.5 | -63.7 | ||
| 12:30 | US | Building Permits (MoM) (Jul) | 0.970M | 1.091M | ||
| 12:30 | US | Housing Starts (YoY) (Jul) | 0.960M | 1.066M | ||
| 12:30 | US | Producer Price Index (MoM) (Jul) | 0.5% | 1.8% | ||
| 12:30 | US | Producer Price Index (YoY) (Jul) | 9.3% | 9.2% | ||