Monday, Sep 15, 07:51 GMT
EUROPEAN Trading Newsletter
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FXstreet withdraws from being IB of US traders by Francesc Riverola, CEO at FXstreet.com
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Read the full CEO's official note.
Related Links
Forex Blogs
Recommended Readings
1st on Forex: 9pm Sunday − Do you know where your money is? by Jerry Furst
9pm Sunday and all is not well − The "systemic risk" that Hank Paulson and the US Treasury and Federal Reserve has been trying to ward off may be at hand. Reports are coming across fast and furious − one that there may be an emergency rate cut!
The Disciplined Trader: Oversold Pairs are Reversing! by Pierre Charlebois
FX Market Readings: Forex market − what next? by Dr. S. Sivaraman
Live Sessions Schedule
Understand & Use Fibonacci Ratio's Effectively
Expert: Sunil Mangwani
Start: Mon, Sep 15, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Sep 15, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Sep 15, 10:00 GMT | Understand & Use Fibonacci Ratio's Effectively | Sunil Mangwani | WBN | |
| Mon, Sep 15, 13:00 GMT | How long will this USD trend last?  | Adam Rosen | WBN |  |
| Mon, Sep 15, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Sep 15, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN | |
Current Session: Europe
USD/JPY
Daily Forex Technical Report − Dollar Sold off On Lehman Bankruptcy by ActionForex.com
USD/JPY gapped lower today and dived further to as low as 105.27 so far. Break of 105.52 low reaffirms the bearish view and indicates that fall from 110.66 has resumed. At this point, further decline is expected to 103.76 support. As discussed before, break of the medium term rising trend line with bearish divergence condition in daily MACD indicates that whole rebound from 95.77 has completed. Break of 103.76 will confirm this case and bring deeper decline.
- Harmonics on Gold by Sunil Mangwani, CEO at FibForex123.
- Forex Swing Trading, Low Risk / High Reward Trading In The Largest by by Sam Seiden, Stocks, Futures, Forex and Options Trader Online Trading Academy
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Dynamic Carry Basket − Carry Trade Interest Rebounds On Speculation Of Lehman Brothers Buyout by FXCM
Technical Trader Closing Brief − Choppy Action, Narrowly Mixed Finish by The Technical Trader
Weekly Analysis
Weekly Market Commentary − Several asset classes might continue to struggle at key chart levels, but will eventually break by Mizuho Corporate Bank
Weekly Forex Market Commentary − The US economic calendar will open on Monday with the release of the industrial production by GFT (Global Forex Trading)
Forex Analysts' Blog
Oversold Pairs are Reversing! by Pierre Charlebois, Senior Trading Coach at www.TradingPostFinancial.com
Currency Performance
Currency Performance Report − Asia Session Performance by FXstreet.com
Forex Signals
Daily FX Forecast by S.A.F.E. Ltd
Currencies at a Glance
- EUR/USD
- Trades above first resistant level 1.4302
09/15/2008 06:45 GMT - GBP/USD
- Trades around opening price level 1.8053 , above pivot level 1.7814
09/15/2008 06:46 GMT - USD/CHF
- Moves down below third support level 1.1161
09/15/2008 06:46 GMT - USD/JPY
- Moves down below third support level 105.93
09/15/2008 06:47 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, GFT (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 | |
| Sep 16 | 09:00 | ZEW Survey − Economic Sentiment | - | -55.5 |
Friday Notes - Growth Expectations by HVB Group
Despite the de facto nationalization of the two large mortgage financing companies in the US, there is still no end in sight to the financial market crisis. Furthermore, the latest hard numbers have further increased the probability of a recession for the German economy. In contrast, the weaker EUR and the continuing pullback in the oil price likely had a positive impact on expectations. All in all, we expect a moderate improvement in the ZEW growth expectations to a still very low level.
[ Full Story ]Top Market Movers Review
Switzerland ADJUSTED REAL RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 15 | 07:15 | Adjusted Real Retail Sales (YoY) | 2.3% | 1.1% | 0.7% |
Swiss retail sales grow above expectations in July (FXstreet.com)
Total retail sales volume has posted a considerable jump in Switzerland in July, according provisional estimations by the Federal Office for Statistics, beating widely experts estimations, who had advanced a moderate increase.
[ Full Story ]- Read the official data at Swiss Federal Statistical Office
- TABLE−Swiss retail sales up 6.2 pct yr/yr in July (Thomson Financial News)
- Switzerland Adjusted Real Retail Sales increase 2.3% on the year in Jul (FXstreet.com)
Australia DWELLING STARTS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 15 | 01:30 | Dwelling Starts | -3.7% | - | -1.0% |
Australian 2Q Housing Starts Fall 3.7% Vs 1Q (Dow Jones)
The total number of houses and apartments that started construction in Australia in the second quarter of 2008 fell 3.7% from the first quarter to a seasonally adjusted 38,348. Analysts surveyed by Dow Jones Newswires had forecast a fall of 2.0% from the first quarter. The Australian Bureau of Statistics also reported Monday that the number of private−sector houses started in the second quarter rose 4.1% to 26,758 from the previous quarter.
[ Full Story ]- Read the Dwelling Starts report at Australian Bureau of Statistics
- Australia Q2 dwelling unit starts fall 3.7 pct q/q (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 15 | 01:30 | AU | Dwelling Starts | -3.7% | -1.0% | |
| 07:15 | CH | Adjusted Real Retail Sales (YoY) (Jul) | 2.3% | 1.1% | 0.7% | |
| 07:15 | CH | Producer and Import Prices (YoY) (Aug) | 4.0% | 4.6% | 4.9% | |
| 07:15 | CH | Producer and Import Prices (MoM) (Aug) | -0.5% | 0.1% | 0.5% | |
| 09:00 | EMU | ECB Trichet's Speech | ||||
| 09:00 | EMU | Labor Costs (YoY) (2Q) | 3.4% | 3.3% | ||
| 12:30 | CA | New Motor Vehicle Sales (MoM) (Jul) | 0% | -1% | ||
| 12:30 | US | NY Empire State Manufacturing Index (Sep) | 3.7 | 2.8 | ||
| 13:15 | US | Capacity Utilization (Aug) | 79.7% | 79.9% | ||
| 13:15 | US | Industrial Production (MoM) (Aug) | -0.2% | 0.2% | ||