Monday, Nov 17, 08:30 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Longer-term Support and Resistance Trading: Setups and Rules by Rob Booker
- All the events of the day in our Economic Calendar
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Forex Blogs
1st on Forex: G20 − "an error occurred while processing this directive" by Jerry Furst
The much anticipated Historic G20 meeting in Washington this weekend leaves me wanting something more – and yet the status quo seems so comfortable. My hunch that this would be a meeting to have more meetings until Obama gets "steeped" into his new gig was spot on.
The Disciplined Trader: New FX Weekly report published on the majors by Pierre Charlebois
FxBootcamp: Pre London Outlook November 17th 2008 by Wayne McDonell
Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Nov 17, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Nov 17, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Nov 17, 11:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Nov 17, 13:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, Nov 17, 13:30 GMT | Trading Economic Numbers, Advanced Applications | Adam Rosen | WBN | |
| Mon, Nov 17, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
EUR/USD
Forex Trading Strategies − G20 issues a grab bag of hopes and promises by Saxo Bank
We revisit the EURUSD chart for the umpteenth time lately. The 21−day SMA (in blue on the chart below) held miraculously once again on Friday and now lies at 1.2775. Clearly, the bulls will need for that one to give way before generating any upside argument.
Meanwhile, the daily trading ranges are constricting a bit, and the bears need for 1.2400/1.2330 to fall for another leg down and perhaps a try at the 1.2000 area initially. We lean to the downside argument for now.
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GBP/USD
Daily Technical Analysis − Carnage and now the authorities talk about a potential run on the pound by Mizuho Corporate Bank
Carnage and now the authorities talk about a potential run on the pound. Cable is clinging by its fingernails above Thursday's low at 1.4560 within the downward−sloping ‘wedge' formation..
JPY
Market Session Recaps − Asia Session by CMS Forex
Among the other detriments to the Yen was the weaker than expected Japanese GDP data which showed that Japan was in fact in its first recession in seven years. EUR/JPY bounced the same way as the USD/JPY move.
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
EMU TRADE BALANCE N.S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Nov 17 | 10:00 | Trade Balance n.s.a. | - | -€9.3 |
| Nov 17 | 10:00 | Trade Balance s.a. | - | -€6.1 |
EMU economic indicators - Likely to improve by BHF−Bank
French consumer spending is expected to have decreased in October, because consumer confidence deteriorated. The EMU trade balance is likely to have improved in September, like the corresponding German figure.
[ Full Story ]Top Market Movers Review
Australia REAL RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 17 | 00:30 | Real Retail Sales (QoQ) | 0.1 | 0.5 | -0.6 |
DATA SNAP: Australia 3Q Retail Sales +0.1% Vs +0.5% Consensus (Dow Jones)
Australian retail sales rose a lower−than−expected 0.1% to a seasonally adjusted A$53.10 billion in the third quarter from A$53.04 billion in the second quarter and rose from A$52.58 billion a year earlier, the Australian Bureau of Statistics said Monday. Economists surveyed ahead of the announcement on average had expected a 0.5% rise in sales for the third quarter.
[ Full Story ]- Read the Retail Sales at Australian Bureau of Statistics
- UPDATE 1−Australia retail soft in Q3 as consumers eat−in (Thomson Financial News)
- Australia real retail sales rose 0.1 pct in Q3 (Thomson Financial News)
Japan GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 16 | 23:50 | Gross Domestic Product (QoQ) | -0.1% | - | -0.7% |
Japan Jul−Sep Real GDP −0.1% Q/Q; Consensus +0.1% (Dow Jones)
Japan's economy shrank for the second straight quarter in July−September, government data showed Monday, confirming that sagging growth abroad has jostled the nation's export−dependent economy into a recession. Gross domestic product contracted by an inflation−adjusted 0.1% in the third quarter from the previous three months, or 0.4% on an annualized basis, data from the Cabinet Office showed.
[ Full Story ]- Read the GDP (QoQ) at Economic and Social Research Institute
- TOPWRAP 2−Japan slips into recession; G20 fails to inspire (Thomson Financial News)
- 3rd UPDATE: Japan In Recession; Global Slowdown Hurts 3Q GDP (Dow Jones)
- HIGHLIGHTS 2−Crisis sends Japan into first recession in 7 years (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 16 | 23:50 | JP | Gross Domestic Product Annualized (3Q)  | -0.4% | -3.0% | |
| Nov 17 | 00:01 | UK | Rightmove House Price Index (MoM) (Oct) | -2.9% | 1.0% | |
| 00:01 | UK | Rightmove House Price Index (YoY) (Sep) | -7.1% | -4.9% | ||
| 00:30 | AU | Real Retail Sales (QoQ) (3Q) | 0.1 | 0.5 | -0.6 | |
| 10:00 | EMU | Trade Balance n.s.a. (Sep) | -€9.3 | |||
| 10:00 | EMU | Trade Balance s.a. (Sep) | -€6.1 | |||
| 13:30 | US | NY Empire State Manufacturing Index (Nov) | -24.62 | |||
| 14:15 | US | Capacity Utilization (Oct) | 76.4% | |||
| 14:15 | US | Industrial Production (MoM) (Oct) | -2.8% | |||
| Nov 18 | 00:30 | AU | RBA Meeting's Minutes (Nov) | |||