Tuesday, Dec 02, 08:21 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: High-Probability Forex Pattern Trading by James Chen
- All the events of the day in our Economic Calendar
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Forex Blogs
FxBootcamp: Pre London Outlook For December 2nd 2008 by Wayne McDonell
It should be a very interesting day moving forward!! I spend more time than usual analyzing the intermarket today, in particular the DJI and the Dollar index. I then relate that information to my technical outlook for the Pound Yen today.
Chartology: A look at the daily dollar-canada by Raghee Horner
FX Market Readings: Volatile moves to prevail for a day by Dr. S. Sivaraman
Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Dec 2, 15:00 GMT
Type of Session: Webinar
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, Dec 2, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Dec 2, 09:00 GMT | The Forex Basic Training Program − Chapter IX | Wayne McDonell | WBN |  |
| Tue, Dec 2, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Dec 2, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Tue, Dec 2, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
EUR/USD
Euro lacks direction and continues to consolidate into the 1.2580−1.2690 range
E−Forex − The Euro lacks direction and continues to consolidate into the 1.2580−1.2690 range. Since the decline below support at 1.2810, short term studies are slightly bearish, favoring more downside action. First intraday support is eyed at 1.2580 and a potential break may encourage further selling towards the 1.2420−1.2460 support zone. Short term support is formed around 1.2460 by a rising trendline started at 1.2330 on October 28, extended through the lows of November. On the upside, resistance starts at 1.2690, followed by 1.2765 and 1.2810.
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YEN CROSSES
Market Session Recaps − Asia Session by FOREX.com
USD/JPY losses were pared by demand for Dollars by Asian investors, pushing the pair to 93.81. However the USD/JPY was not able to maintain its highs as Yen profit taking wore thin and the pair reconvened back near the 93.15 levels.
MONTHLY OUTLOOK
Monthly Technical Outlook − The pound weakens to an all−time low value of 0.8675 to the Euro by Mizuho Corporate Bank
Very dramatic price action in November as the pound weakens to an all−time low value of 0.8675 to the Euro. This has once again taken us by surprise and forced us to re−think our medium term view.
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 PRODUCER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Dec 2 | 10:00 | Producer Price Index (YoY) | 7.1% | 7.9% |
| Dec 2 | 10:00 | Producer Price Index (MoM) | -0.2% | -0.2% |
Why the Euro Is Set to Fall Further ... by Money and Markets
Is anyone less thankful this year than last year? It's probably safe to bet on YES. I don't have to run through it all — we've been bludgeoned by all that's bad in the global economy and financial system all year long. And I'm sure there are plenty of individuals out there who aren't quite in the mood to be thankful — turkey on the table or not.
[ Full Story ]Top Market Movers Review
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 2 | 06:04 | BoJ Interest Rate Decision | 0.3% | 0.3% | 0.3% |
BOJ takes action to ease funding squeeze for firms (Thomson Financial News)
The Bank of Japan said on Tuesday it would accept a wider range of corporate debt as eligible collateral to ease Japanese companies' quickly shrinking access to funding as the end of the year approaches. The BOJ, which also kept interest rates on hold at 0.30 percent at an emergency policy meeting on Tuesday, said it would start accepting triple−B−rated corporate debt as collateral and temporarily adopt some new operations using corporate debt.
[ Full Story ]- TOPWRAP 2−Australia cuts rates, Japan acts on funding squeeze (Thomson Financial News)
Australia RBA INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 2 | 03:30 | RBA Interest Rate Decision | 4.25% | 4.50% | 5.25% |
Australia's central bank cuts rates to 4.25 pct (Thomson Financial News)
Australia's central bank cut its key benchmark cash rate by 100 basis points to 4.25 percent on Tuesday, the fourth easing in as many months, as it battled to save the economy from a global recession. The Reserve Bank of Australia (RBA) announced the cut in a brief statement following its monthly policy meeting.
[ Full Story ]- Read the Rate Decision data at Reserve Bank of Australia
- TOPWRAP 2−Australia cuts rates, Japan acts on funding squeeze (Thomson Financial News)
- Global financial woes have Aussies heading home (Thomson Financial News)
- WRAPUP 2−Australia cuts rates to 6−½ year low, may cut again (Thomson Financial News)
Trading News Report - AUD/USD: Trading the Reserve Bank of Australia's Rate Decision by FXCM
Daily Forex Technical Report − RBA Cuts 100bps, Yen Consolidates by ActionForex.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 2 | 06:04 | JP | BoJ Interest Rate Decision | 0.3% | 0.3% | 0.3% |
| 06:30 | JP | BoJ Press Conference | ||||
| 06:45 | CH | Consumer Price Index (MoM) (Nov) | -0.7% | -0.3% | 0.5% | |
| 06:45 | CH | Consumer Price Index (YoY) (Nov) | 1.5% | 2.0% | 2.6% | |
| 10:00 | EMU | Producer Price Index (MoM) | -0.2% | -0.2% | ||
| 10:00 | EMU | Producer Price Index (YoY) (Oct) | 7.1% | 7.9% | ||
| 22:00 | US | ABC/Washington Post Consumer Confidence (Nov 30) | -52 | |||
| Dec 3 | 00:01 | UK | Nationwide Consumer Confidence (Nov) | 54 | 55 | |
| 00:30 | AU | Gross Domestic Product (QoQ) (3Q) | 0.2% | 0.3% | ||
| 00:30 | AU | Gross Domestic Product (YoY) (3Q) | 1.9% | 2.7% | ||