Thursday, Nov 13, 08:44 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Institutional Trading Strategies: Money Management 101 by Andrei Pehar
- All the events of the day in our Economic Calendar
- The Forex Journal: Choose wisely Dr. Jones, choose wisely
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Forex Blogs
Forex Trading Today: Is it Time to find another way across the Atlantic? by Tim Salem
Well... we were on the mark with our thoughts on Cable yesterday... and the Quarterly Inflationary Report confirmed our views even more. Perhaps it's time to find another way to communicate with each other... as our Trans−Atlantic Cable is slowly being consumed by the Abyss.
FxBootcamp: Pre London Outlook November 13th 2008 by Wayne McDonell
Live Sessions Schedule
FX Instructor Live Trading Room − Free Access Day
Expert: Mark De La Paz
Start: Thu, Nov 13, 12:00 GMT
Sponsored by: 
Type of Session: Webinar
US Pre−Market Open − Free Access Day
Expert: Ed Ponsi
Start: Thu, Nov 13, 13:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Nov 13, 12:00 GMT | FX Instructor Live Trading Room − Free Access Day | Mark De La Paz | WBN | |
| Thu, Nov 13, 13:00 GMT | US Pre−Market Open − Free Access Day | Ed Ponsi | WBN |  |
| Thu, Nov 13, 14:30 GMT | US Session Open − Free Access Day | Ed Ponsi | WBN | |
| Thu, Nov 13, 15:00 GMT | The New Forex Trend − Free Access Day | Adam Rosen | WBN | |
Current Session: Europe
EUR/GBP
Forex Trading Strategies − GBP collapses on dour BoE report and prospect for lower rates by Saxo Bank
The combination of a very low interest rate outlook on accelerating negative economic indications and renewed trouble in the financial sector has the pound experiencing the most pain in this environment. GBP is now scraping along at a 12−year low on a trade−weighted basis. EURGBP blasted through 0.8200 and posted new highs above 0.8400 before finding resistance. There may have been barrier options involved in some of that action.
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GBP/JPY
Hedging Range Trades − British Pound to Rise Against Japanese Yen Before Down Trend Resumes by FXCM
Traders looking to protect their existing short GBPJPY position or enter short at a favorable price may consider a hedge long GBPJPY above 141.70 with a target at 152.45. Once the profit target is hit, we expect the bearish trend to resume.
USD
Daily Forex Technical Report − Dollar and Yen Firm on Risk Aversion Despite Speculations of Intervention by ActionForex.com
Technically speaking, the short term dollar bullish outlook remains unchanged and retest of 87.87 in dollar index is expected. Based on the view the triangle consolidation has already completed, 87.87 should be taken out decisively in near term. Sterling and other commodity currencies will likely continue to be the weaker ones.
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
US TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Nov 13 | 13:30 | Trade Balance | - | -$59.14B |
US economic indicators - Trade balance (September): narrower deficit despite fall in exports by BHF−Bank
The trade deficit narrowed from $61.3bn to $59.1bn in August, and could have shrunk to $56.5bn in September, as imports will have fallen particularly due to the oilrelated drop in import prices by 3.0% mom. However, given global economic cooling and the dollar appreciation, exports might have gone down noticeably too, and the real trade deficit is likely to have risen.
[ Full Story ]Top Market Movers Review
Germany GROSS DOMESTIC PRODUCT S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 13 | 07:00 | Gross Domestic Product s.a (QoQ) | -0.5% | -0.2% | -0.4% |
| Nov 13 | 07:00 | Gross Domestic Product n.s.a (YoY) | 1.3% | 1.6% | 3.3% |
| Nov 13 | 07:00 | Gross Domestic Product w.d.a (YoY) | 0.8% | 1.0% | 1.7% |
DATA SNAP: German 3Q GDP Adj −0.5% QQ, +0.8% YY (Dow Jones)
The German economy contracted in the July−September period, shrinking for the second quarter in a row, thus confirming recession in Europe's largest economy.
[ Full Story ]- Read the GDP data at German Statistics
- INSTANT VIEW 4−German Q3 GDP contraction worse than expected (Thomson Financial News)
- UPDATE: Germany Enters Technical Recession In 3Q (Dow Jones)
- UPDATE 1−Germany in recession with third−quarter contraction (Thomson Financial News)
EMU economic indicators - German, French, Italian and EMU GDP growth (Q3): down by BHF−Bank
New Zealand RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 12 | 21:45 | Retail Sales (MoM) | 0.1% | - | 0.4% |
INSTANT VIEW−NZ retail sales fall in Q3 (Thomson Financial News)
New Zealand retail sales fell for the third quarter in a row in the three months to September, backing views the recession had deepened and the central bank would keep cutting interest rates.
[ Full Story ]- Read the Retail Sales at Statistics New Zealand
- UPDATE 1−NZ retail sales fall in Q3, more rate cuts seen (Thomson Financial News)
- INSTANT VIEW 2−NZ retail sales fall in Q3, gloom deepens (Thomson Financial News)
- TABLE−NZ Q3 retail sales volumes fall 0.9 pct (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 13 | 07:00 | DE | Gross Domestic Product s.a (QoQ) (3Q)  | -0.5% | -0.2% | -0.4% |
| 07:00 | DE | Gross Domestic Product w.d.a (YoY) (3Q) | 0.8% | 1.0% | 1.7% | |
| 08:15 | CH | Producer and Import Prices (MoM) (Oct) | -0.6% | -0.5% | -0.5% | |
| 08:15 | CH | Producer and Import Prices (YoY) (Oct) | 2.9% | 3.7% | ||
| 09:00 | EMU | ECB Monthly Report (Nov) | ||||
| 10:00 | CH | ZEW Survey − Expectations (Nov) | -91.1 | |||
| 13:30 | US | Continuing Jobless Claims (Oct 31) | 3843K | |||
| 13:30 | US | Initial Jobless Claims (Nov 7) | 481K | |||
| 13:30 | CA | International Merchandise Trade (Sep) | $5.8B | |||
| 13:30 | US | Trade Balance (Sep) | -$59.14B | |||