Tuesday, Oct 07, 07:36 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: What may we expect for the rest of the year? by Adam Rosen
- Live Technical Analysis Workshop with Sunil Mangwani in Barcelona on November 1st - Special discount for ITC attendees!
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Forex Blogs
FX Market Readings: Anti market sentiment moves by Dr. S. Sivaraman
EURO and GBP dropped big yesterday. Also AUD, and YEN was considered as risk free currency and that gained big along with USD. After all stories now EURO and GBP have rised during start of Japanese session along with USD/YEN. AUD dropped 100 pips and gained 150 pips in no time for RBA intererest rate cut time.
FxBootcamp: PRE LONDON OUTLOOK OCTOBER 7TH 2008 by Wayne McDonell
Live Sessions Schedule
Dan Blystone's Daily Briefing
Expert: Dan Blystone
Start: Tue, Oct 7, 12:30 GMT
Type of Session: Webinar
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Oct 7, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Oct 7, 08:00 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Tue, Oct 7, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Oct 7, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Tue, Oct 7, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades − Euro fell to its lowest level since August 2007 by E−Forex
The downside is under high pressure as the Euro fell to its lowest level since August 2007, testing bids at 1.3440 on yesterday. The intraday studies are now bullish and the current rebound may extend towards resistance levels at within the 1.37−1.38 region. Near term support is eyed at 1.3500 and 1.3440/50. Minor resistance at 1.3650 is on focus now and a potential break will most likely encourage further gains towards the mid 1.37 region, filling yesterday's gap. Current quote is 1.3576 @06:33 GMT
- What may we expect for the rest of the year? by Adam Rosen, CEO and Co−Founder at 4xLounge
- Technical Analysis Bootcamp: The indicators you need to know and how to interpret them by Dan Blystone, Founder TradersLog.com
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Technical Trader Closing Brief − Late Sharp Snapback Rally Pares Losses in Half as Dow Closes Under 10,000 by The Technical Trader
Daily Forex Technical Report − Yen Retreats Following Surprised RBA 100bps Cut by ActionForex.com
The Mid−Day Minute − Unfinished Business on the Downside by MPTrader.com
Daily Market Briefing − US Dollar Rockets Higher on Demand for Treasuries, Will the FOMC Minutes Trigger a Sell−off? by FXCM
Weekly Outlook
Weekly Technical Commentary by Mizuho Corporate Bank
Forex Analysts' Blog
Anti market sentiment moves by Dr. S. Sivaraman, of i−knowindices.com
Forex Signals
Daily FX Forecast by S.A.F.E. Ltd
Currencies at a Glance
- EUR/USD
- Moves up above pivot level 1.3551
10/07/2008 07:17 GMT - GBP/USD
- Moves up above pivot level 1.7497
10/07/2008 07:17 GMT - USD/CHF
- Trades above pivot level 1.1415
10/07/2008 07:18 GMT - USD/JPY
- Moves up above pivot level 102.39
10/07/2008 07:18 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 FACTORY ORDERS S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Oct 7 | 10:00 | Factory Orders n.s.a. (YoY) | -4.7% | -0.7% |
| Oct 7 | 10:00 | Factory Orders s.a. (MoM) | 0.5% | -1.7% |
Friday Notes - Order volume shrinking by HVB Group
Business sentiment in the key export countries has deteriorated further recently. Purchasing managers were also bearish again in their assessment of the order situation in August. The trend in new orders dynamic therefore continues to point south. After eight consecutive declines, we do expect the order numbers for August to show a temporary, slight upward correction versus the previous month.
[ Full Story ]Top Market Movers Review
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 7 | 05:46 | BoJ Interest Rate Decision | 0.5% | - | 0.5% |
BOJ keeps rates on hold but says to watch markets (Thomson Financial News)
The Bank of Japan kept interest rates unchanged on Tuesday and maintained its assessment on the economy, which it said was sluggish. In a widely expected move, the central bank maintained its overnight call rate target at 0.5 percent by a unanimous vote. "While carefully monitoring movement in global financial markets, we will continue to strive to maintain market stability," the BOJ said in a statement.
[ Full Story ]- Read the Interest Rate decision report at Bank of Japan
- BOJ Shirakawa: To Make Policy Based On Domestic Conditions (Dow Jones)
- INSTANT VIEW−BOJ eyes financial crisis but rates unchanged (Thomson Financial News)
- BOJ's Nishimura in parliament from 0550−0631 GMT (Thomson Financial News)
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 7 | 03:30 | RBA Interest Rate Decision | 6.0% | 6.5% | 7.0% |
UPDATE 1−Australia cenbank stuns with 1 pct rate cut (Thomson Financial News)
Australia's central bank stunned investors with its biggest interest rate cut in 16 years on Tuesday, a dramatic attempt to insulate banks, households and firms from a meltdown in global financial markets.
[ Full Story ]- Read the Interest Rate Decision report at Reserve Bank of Australia
- Aussie dlr off 4−yr lows; bills surge on rate cut (Thomson Financial News)
- 3rd UPDATE: Asian Shares Recovering; RBA Rate Cut Helps (Dow Jones)
- National Australia Bank holds off on rate cut (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 7 | 03:30 | AU | RBA Interest Rate Decision | 6.0% | 6.5% | 7.0% |
| 05:00 | JP | Coincident Index (Aug)  | 100.7% | 103.5% | 103.5% | |
| 05:00 | JP | Leading Economic Index (Aug) | 89.3 | 89.2 | 91.4 | |
| 05:46 | JP | BoJ Interest Rate Decision | 0.5% | 0.5% | ||
| 08:30 | UK | Industrial Production (MoM) (Aug) | -0.2% | -0.4% | ||
| 08:30 | UK | Industrial Production (YoY) (Aug) | -2.0% | -1.5% | ||
| 08:30 | UK | Manufacturing Production (MoM) (Aug) | -0.2% | -0.2% | ||
| 08:30 | UK | Manufacturing Production (YoY) (Aug) | -1.6% | -1.4% | ||
| 10:00 | DE | Factory Orders n.s.a. (YoY) (Aug) | -4.7% | -0.7% | ||
| 10:00 | DE | Factory Orders s.a. (MoM) (Aug) | 0.5% | -1.7% | ||