Thursday, Dec 04, 08:34 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: The Weather Report: Ichimoku Cloud Trading by Chris Capre
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Market Readings: BOE & ECB interest rate decisions − expected market moves before and after... by Dr. S. Sivaraman
Today (Dec 04) is considered important as the interest rate decisions are to be announced by BOE by 12:00 GMT and ECB by 12:45 GMT,followed by ECB press conference by 13:30 GMT (the hawkish or dovish statement time).
Forex Trading Today: Here come the Beaurocrats…but I’m on Mute! by Tim Salem
FXbootcamp: Pre London Outlook For December 4th 2008 by David R Pegler
Live Sessions Schedule
Trading Range bound and Trending Markets
Expert: Adam Rosen
Start: Thu, Dec 4, 15:00 GMT
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Dec 4, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Dec 4, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Dec 4, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Thu, Dec 4, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Thu, Dec 4, 15:00 GMT | Trading Range bound and Trending Markets | Adam Rosen | WBN | |
Current Session: Europe
EUR/USD
Euro trades lower today ahead of the ECB interest rate decision
E−Forex − The Euro trades lower today ahead of the ECB interest rate decision at 12:45 GMT. Short term sentiment is mixed, support being formed at 1.2570 backed by a rising trendline at 1.2460. Resistance emerges at 1.2720 followed by 1.2830 and 1.2960. Important resistance is also seen higher, on the 1.3 handle. Large moves are possible today due to the ECB rate decision. Current quote is 1.2657
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GBP/JPY
Daily Forex Technical Report − ECB and BoE in Focus by ActionForex.com
GBP/JPY's fall from 148.57 is still in progress and at this point, intraday bias remains on the downside as long as 139.74 minor resistance holds. Further decline is expected to 200% projection of 215.87 to 184.47 from 197.42 at 134.62 next.
YEN CROSSES
Market Session Recaps − Asia Session by FOREX.com
USD/JPY and EUR/JPY mirrored the moves in the equity markets, as early strength in the Nikkei saw Yen selling, but as the Nikkei sold off later in the session traders rushed to buy the safe haven Yen.
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 GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Dec 4 | 10:00 | Gross Domestic Product s.a. (QoQ) | -0.2% | -0.2% |
| Dec 4 | 06:45 | Gross Domestic Product (YoY) | 1.8% | 2.3% |
EMU economic indicators - EMU GDP: No revisions expected by BHF−Bank
German retail sales probably remained unchanged in October, as retailers' business assessment improved and consumer confidence deteriorated. We do not expect any significant revisions for the final PMI indices for November, nor for EMU GDP in Q3 2008.
[ Full Story ]Top Market Movers Review
Switzerland GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 4 | 06:45 | Gross Domestic Product s.a. (QoQ) | 0.0% | 0.1% | 0.4% |
| Dec 4 | 06:45 | Gross Domestic Product (YoY) | 1.6% | 1.8% | 2.3% |
Swiss GDP, flat in the third quarter (FXstreet.com)
Swiss Gross Domestic Product has remained unchanged in the third quarter, as negative figures from investment were compensated by the positive contribution of the trade balance ad household expenditure, according to data by the Swiss Confederation.
[ Full Story ]- Read the GDP data at the Swiss Confederation
- INSTANT VIEW 4−Swiss Q3 GDP stagnates as expected (Thomson Financial News)
- INSTANT VIEW 3−Swiss Q3 GDP stagnates as expected (Thomson Financial News)
- INSTANT VIEW 2−Swiss Q3 GDP stagnates as expected (Thomson Financial News)
New Zealand RBNZ INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 3 | 20:00 | RBNZ Interest Rate Decision | 5.0% | 5.0% | 6.5% |
TEXT−RBNZ cuts cash rate to 5.0 pct, further cuts likely (Thomson Financial News)
The Reserve Bank today reduced the Official Cash Rate (OCR) from 6.5 percent to 5.0 percent. Reserve Bank Governor Alan Bollard commented that "ongoing financial market turmoil and the marked deterioration in the outlook for global growth have played a large role in shaping today's decision. Activity in most of our trading partners is now expected to contract or grow only very slowly over the next few quarters.
[ Full Story ]- Read the Rate Decision data at Reserve Bank of New Zealand
- UPDATE 3−New Zealand slashes rates to 5−year low, flags more (Thomson Financial News)
- UPDATE 2−New Zealand slashes rates to 5−year low, flags more (Thomson Financial News)
- UPDATE 1−NZ cenbank cuts rates by record 150 bps to 5 pct (Thomson Financial News)
Forex Trading Strategies - EUR and GBP trade lower again after short squeeze yesterday by Saxo Bank
Daily FX Report - The USD/JPY is still trading below the 94.00 level by Varengold Wertpapierhandelsbank AG
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 4 | 00:30 | AU | Building Permits (YoY) (Oct) | -26.0% | -21.5% | -21.6% |
| 00:30 | AU | Trade Balance (Oct) | 2.952B | 1.450B | 1.460B | |
| 06:45 | CH | Gross Domestic Product (YoY) (Oct) | 1.6% | 1.8% | 2.3% | |
| 06:45 | CH | Gross Domestic Product s.a. (QoQ) (3Q) | 0.0% | 0.1% | 0.4% | |
| 09:00 | UK | Halifax House Prices (MoM) (Nov) | -2.2% | |||
| 09:00 | UK | Halifax House Prices (YoY) (Nov) | -13.7% | |||
| 10:00 | EMU | Gross Domestic Product s.a. (QoQ) (3Q) | -0.2% | -0.2% | ||
| 12:00 | UK | BoE Interest Rate Decision | 2% | 3% | ||
| 12:45 | EMU | ECB Interest Rate Decision | 2.75% | 3.25% | ||
| 13:30 | CA | Building Permits (MoM) (Oct) | -5.0% | 13.4% | ||