Friday, Dec 05, 08:36 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
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
FX Market Readings: NFP data release − expected market moves before and after for the week end by Dr. S. Sivaraman
EURO and GBP firmed up yesterday during US session with swings and today made the slide during Japanese session. Today they are expected to drop nominally during European session start and swing near low or in the middle levels before the NFP data release time 13:30 GMT.
FxBootcamp: Pre London Outlook For December 5th 2008 - previewing NFP by David R Pegler
Live Sessions Schedule
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 31st Edition
Expert: Wayne McDonell
Start: Fri, Dec 5, 12:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Dec 5, 12:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 31st Edition | Wayne McDonell | WBN | |
| Mon, Dec 8, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN |  |
| Mon, Dec 8, 14:00 GMT | Year end Fundamental Review  | Adam Rosen | WBN |  |
| Mon, Dec 8, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: Europe
USD/JPY
Dollar at Critical Point ahead of NonāFarm Payroll
ActionForex.com − USD/JPY dips further to 92.06 and at this point, intraday bias remains on the downside as long as 93.46 minor resistance holds. The fall from 100.54 is still expected to extend further to retest 90.92 low. However, note that the lack of impulsive structure of the fall from 100.54 so far is still arguing that it might be part of the consolidation that started at 90.92. Hence, sustained break of 90.92 is needed to confirm medium term down trend has resumed. On the upside, above 93.46 will turn intraday outlook neutral first. Further break of 95.74 resistance will indicate that fall from 100.54 has possibly completed.
.
EUR/USD
Daily Recommended Trades − The Euro has bounced to 1.2850 by E−Forex
The Euro has bounced to 1.2850 on yesterday, after testing support into the 1.2550−1.2575 region. The upside is back into play with resistance emerging at 1.2850 then at 1.2990.
USD/CHF
Currency Majors Technical Analysis − USD CHF broke 1,2025 support by Mataf.net
1,1987. USD CHF broke 1,2025 support. USD CHF is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. Oscillators are neutral. The consolidation should continue.
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 FACTORY ORDERS S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Dec 5 | 11:00 | Factory Orders n.s.a. (YoY) | -11.2% | -2.7% |
| Dec 5 | 11:00 | Factory Orders s.a. (MoM) | 0.4% | -8.0% |
Friday Notes - Further weakness in the pipeline by HVB Group
As published four weeks ago, manufacturing orders fell by 8% m−o−m, which was a record since German reunification. We expect this pattern to be partly reversed. However, the trend clearly points south, as the weakening global economy will increasingly weigh both on exports and new orders.
[ Full Story ]- INSTANT VIEW 2−US factory orders fall sharply in October (Thomson Financial News)
Top Market Movers Review
US FED'S BERNANKE SPEECH
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 4 | 16:15 | Fed's Bernanke Speech | - | - | - |
UPDATE 1−Bernanke says need to do more to halt foreclosures (Thomson Financial News)
U.S. Federal Reserve Chairman Ben Bernanke on Thursday urged more aggressive action to halt home foreclosures, and said write−downs of principal may need to be part those efforts.
[ Full Story ]- Speech by Chairman Bernanke on housing, mortgage markets, and foreclosures at Fed
- Bernanke says home price insurance would be costly (Thomson Financial News)
- Bernanke − need to do more to halt foreclosures (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 4 | 15:00 | US | Factory Orders (Oct) | -5.1% | -4.0% | -2.5% |
| 15:00 | CA | Ivey Purchasing Managers Index (Nov) | 40.2 | 50.5 | 52.2 | |
| 16:15 | US | Fed's Bernanke Speech | ||||
| Dec 5 | 05:30 | AU | Foreign Reserves (Nov) | 46.702 | 44.889B | |
| 11:00 | DE | Factory Orders n.s.a. (YoY) (Oct) | -11.2% | -2.7% | ||
| 11:00 | DE | Factory Orders s.a. (MoM) (Oct) | 0.4% | -8.0% | ||
| 12:00 | CA | Net Change in Employment (Nov) | -15.0K | 9.5K | ||
| 12:00 | CA | Unemployment Rate (Nov) | 6.4% | 6.2% | ||
| 13:30 | US | Average Hourly Earnings (MoM) (Nov) | 0.2% | 0.2% | ||
| 13:30 | US | Average Hourly Earnings (YoY) (Nov) | 2.9% | |||