Wednesday, Oct 08, 07:41 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!
- Check out our 2 brand new Special Coverages: The Fed creates commercial paper−buying facility and Europe reacts to the global crisis.
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Forex Blogs
FX Path: USD/JPY − Yen Strength by James Chen
As of Tuesday evening in New York, price on the USD/JPY daily chart, as shown, has been characterized by substantial yen strength.
FxBootcamp: How Hedge Funds Move EUR/JPY by Wayne McDonell
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Oct 8, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Oct 8, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Oct 8, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Oct 8, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Oct 8, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Oct 8, 13:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN |  |
Current Session: Europe
EUR/USD
Currency Majors Technical Analysis − 1,3550. EUR USD is in an downtrend directed by 1H exponential moving averages by Mataf.net
1,3550. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,3700 (150 pips). The downtrend should continue to gather momentum.
- 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:
Forex Market Outlook on Minors/Crosses − Forex Market Outlook on Minors/Crosses by AceTrader
Long Term Forex Analysis − GBPUSD breaks below 1.7445 by ForexCycle.com
Short Term Analysis − EURUSD breaks above the down trend line by ForexCycle.com
Weekly Outlook
Market Thoughts − 7/10/2008 − The Current Market Sentiment by FX Recommends
Forex Analysts' Blog
How are banks doing now that the bailout plan is passed? by Pierre Charlebois, Senior Trading Coach at www.TradingPostFinancial.com
USD/JPY − Yen Strength by James Chen, Chief Technical Analyst at FX Solutions.
Forex Signals
Recent Recommended Trades by AceTrader
Currencies at a Glance
- EUR/USD
- Trades around pivot level 1.3603
10/08/2008 06:35 GMT - GBP/USD
- Trades around pivot level 1.7476
10/08/2008 06:37 GMT - USD/CHF
- Moves down towards first support level 1.1339
10/08/2008 06:38 GMT - USD/JPY
- Back around first support level 100.60
10/08/2008 06:39 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
EMU GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Oct 8 | 09:00 | Gross Domestic Product s.a. (QoQ) | -0.2% | 0.7% |
| Oct 8 | 09:00 | Gross Domestic Product s.a. (YoY) | 1.4% | 2.1% |
EMU economic indicators - EMU GDP probably unchanged by BHF−Bank
Q2 EMU GDP is not expected to be revised significantly. The German trade balance might have rebounded somewhat in August, after it had declined unexpected heavily in July. However, the German current account is likely to have continued deteriorating in August.
[ Full Story ]Top Market Movers Review
US FOMC MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 7 | 18:00 | FOMC Minutes | - | - | - |
At most recent meeting, some Fed officials suggested rate cut 'could' be needed (Thomson Financial News)
Some Federal Open Market Committee members said an interest rate cut "could be required" if financial conditions substantially worsen the economic growth outlook, according to minutes from the Fed's latest policy meeting.
[ Full Story ]- Read the Minutes of Federal Open Market Committee at the Fed
- FOREX−Dollar extends losses versus euro on Fed minutes (Thomson Financial News)
- US RATE FUTURES−Minutes, Bernanke boost Fed cut ideas (Thomson Financial News)
Daily Market Briefing - US Dollar Rockets Higher on Demand for Treasuries, Will the FOMC Minutes Trigger a Sell−off? by FXCM
US FED'S BERNANKE SPEECH
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 7 | 17:15 | Fed's Bernanke Speech | - | - | - |
Bernanke signals readiness to cut U.S. rates (Thomson Financial News)
U.S. Federal Reserve Chairman Ben Bernanke on Tuesday signaled a readiness to lower U.S. interest rates in a dramatic shift to support an economy battered by a financial crisis of "historic dimension."
[ Full Story ]- Speech by Chairman Bernanke at the Fed
- Bernanke−inflation outlook better but could reverse (Thomson Financial News)
- FINEWS−Bernanke says inflation to moderate significantly (Thomson Financial News)
- US STOCKS−Market extends losses after Bernanke's comments (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 8 | 00:30 | AU | Home Loans (Aug) | -2.3% | -1.0% | -0.2% |
| 00:30 | AU | Investment Lending (Aug) | -5.0% | 2.3% | ||
| 05:00 | JP | Bank of Japan Monthly Economic Survey (Aug) | ||||
| 05:00 | JP | Eco Watchers Survey: Outlook (Sep) | 32.1 | 32.0 | ||
| 09:00 | EMU | Gross Domestic Product s.a. (QoQ) (2Q) | -0.2% | 0.7% | ||
| 09:00 | EMU | Gross Domestic Product s.a. (YoY) (2Q) | 1.4% | 2.1% | ||
| 09:30 | UK | BRC Shop Price Index (YoY) (Sep) | 3.8% | |||
| 10:00 | DE | Industrial Production s.a. (MoM) (Aug) | -0.2% | -1.8% | ||
| 10:00 | DE | Industrial Production s.a. w.d.a. (YoY) (Aug) | -2.9% | -0.6% | ||
| 11:00 | US | MBA Mortgage Applications (Oct 3) | -23% | |||