Friday, Nov 07, 09:03 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Fundamental Review by Adam Rosen
- All the events of the day in our Economic Calendar
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Forex Blogs
FXBootcamp: Pre London Outlook November 7th 2008 by Wayne McDonell
November the 7th 2008 should be a very interesting day across all markets. We are sitting at 8600 for the DJI and a 61.8 retracement of the overall rise, 60 for oil and some critical levels for the yens. Add a US NFP release, Pres. Obama's first economic press conference in the NY morning and you have the recipe for a very volatile trading day.
FX Market Readings: US session expected moves by Dr. S. Sivaraman
Forex Trading Today: Golfing on the Euro Driving "Range" by Tim Salem
Live Sessions Schedule
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 30th Edition
Expert: Wayne McDonell
Start: Fri, Nov 7, 12:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Nov 7, 12:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 30th Edition | Wayne McDonell | WBN | |
| Mon, Nov 10, 11:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN |  |
| Mon, Nov 10, 14:00 GMT | Turning the corner on the year  | Adam Rosen | WBN |  |
| Mon, Nov 10, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN |  |
Current Session: Europe
USD/JPY
Technical Summary for Majors − Pulling back from Tuesday's weekly high of 100.56 by Windsor Brokers Ltd
USD/JPY – 9:00 (GMT+2) Pulling back from Tuesday's weekly high of 100.56 near 50% of 110.67/90.87 fall as Wednesday's bear engulfing candle beckons. Further decline within a minor negative channel may stretch towards 96.85/75 ahead of current range floor at 96.08/35 29/31 Oct lows where a swing low may be anticipated. Back over Thursday's 98.69 high hints renewed strength.
AUD/USD
Daily Forex Technical Report − Focus on Non−Farm Payroll by ActionForex.com
As discussed before, AUD/USD's rebound from 0.6008 could have already completed at 0.7014 already. 4 hours MACD's turn negative adds some more credence to this case too. Break of 0.6549 minor support will confirm and bring retest of 0.6008 low.
TRADING NEWS
Daily Market Commentary − NFP Preview: Why a Weak Number May Not Stop the Dollar's Rise by GFT (Global Forex Trading)
By extension, it will lead to weakness in USD/JPY, EUR/USD, GBP/USD and all of the Japanese Yen Crosses. The only way to avoid another round of selling would be if non−farm payrolls dropped by less than 150k.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
Germany INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Nov 7 | 11:00 | Industrial Production s.a. (MoM) | -0.9% | 3.4% |
| Nov 7 | 11:00 | Industrial Production s.a. w.d.a. (YoY) | 0.5% | 1.7% |
EMU economic indicators - Output in the German producing sector (September): down by BHF−Bank
German industrial new orders and output in the German producing sector probably suffered setbacks in September, as their steep increases in August were mainly driven by a favourable holiday effect and nearly all correlated indicators dropped.
[ Full Story ]Top Market Movers Review
Germany TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 7 | 07:00 | Trade Balance | 15.0B | - | 10.6 |
INSTANT VIEW 2−German Sept trade surplus unchanged (Thomson Financial News)
Germany's trade surplus came in at 13.7 billion euros ($17.66 billion) in September, unchanged from the previous month, as exports and imports rose, data from the Federal Statistics Office showed on Friday.
[ Full Story ]- Read the Trade Balance data at German Statistics
- UPDATE 1−German trade to hit Q3 despite Sept export rise (Thomson Financial News)
- INSTANT VIEW 3−German Sept trade surplus unchanged (Thomson Financial News)
- INSTANT VIEW 1−German Sept trade surplus unchanged (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 7 | 06:45 | CH | Unemployment Rate (Oct) | 2.5% | 2.5% | 2.4% |
| 06:45 | CH | Unemployment Rate s.a. (Oct) | 2.6% | 2.6% | 2.6% | |
| 07:00 | DE | Trade Balance (Sep) | 15.0B | 10.6 | ||
| 08:30 | KR | BoK Interest Rate Decision | 4.00% | 4.25% | ||
| 11:00 | DE | Industrial Production s.a. (MoM) (Sep) | -0.9% | 3.4% | ||
| 11:00 | DE | Industrial Production s.a. w.d.a. (YoY) (Sep) | 0.5% | 1.7% | ||
| 12:00 | CA | Net Change in Employment (Oct) | 5.0K | 106.9K | ||
| 12:00 | CA | Unemployment Rate (Oct) | 6.2% | 6.1% | ||
| 13:30 | US | Average Hourly Earnings (MoM) (Oct) | 0.2% | 0.2% | ||
| 13:30 | US | Average Hourly Earnings (YoY) (Oct) | 3.4% | |||