Tuesday, Dec 09, 08:29 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Advanced Forex Trading: Momentum Versus Reversals Within Indicators by Mark Whistler
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Our Kiwi Dollar Lambs Break out of the Pasture by Tim Salem
"Our New Zealand Kiwi Dollar Lambs have broken out!…Women and Children First!…Run for your Lives!" First Things First. My Market sentiment yesterday on our Kiwi Dollar was wrong
FX Market Readings: EURO and GBP are expected to swing and firm up… by Dr.S. Sivaraman
FX Bootcamp: Pre London Outlook For December 9th 2008 by Wayne McDonell
Live Sessions Schedule
Recognizing the Gaps
Expert: Carlos Rocha
Start: Tue, Dec 9, 13:00 GMT
Type of Session: Webinar
Topics
− Other Gap Patterns
− Breakaway Gaps
− Runaway Gaps
− Exhaustion Gaps
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Dec 9, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Dec 9, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Dec 9, 13:00 GMT | Recognizing the Gaps | Carlos Rocha | WBN |  |
| Tue, Dec 9, 15:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
| Tue, Dec 9, 16:00 GMT | Trading with Autochartist | Raghee Horner | WBN | |
Current Session: Europe
EUR/USD
Dollar Index Recovers Mildly after Hitting Neckline Support
ActionForex.com − Dollar and yen recover mildly today but there is not confirmation that this week's sell off is completed yet. In particular, much focus in now on the development in dollar index as it's still holding on to the mentioned neckline support. As discussed before, recent price actions in the dollar index are probably developing into a head and shoulder top reversal pattern (ls: 87.87, h: 88.46, rs: 87.68) and sustained break of the neckline support will add much credence to the case that whole rally from 71.31 has topped out.
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EUR/USD
EUR USD is in a consolidation after the last bullish movement by Mataf.net
Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The consolidation should continue
Daily Market Outlook − Dollar and yen fall as President−elect Obama's stimulus plans increases risk appetite by AceTrader
The U.S. dollar and Japanese yen declined on Monday after U.S. President−elect Barack Obama reiterated his commitment to a stimulus plan which would use a substantial amount of funds (most in 50 years) on the nation's infrastructure.
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 ZEW SURVEY − ECONOMIC SENTIMENT
| Date (GMT) | Event | Cons. | Previous | |
| Dec 9 | 10:00 | ZEW Survey − Economic Sentiment | -55.7 | -53.0 |
EMU economic indicators - German ZEW economic sentiment (December): down by BHF−Bank
The German ZEW economic sentiment will probably have deteriorated in December, just like the ifo business expectations and the US ISM manufacturing index. The German yield spread has improved, but only because short−term interest rates have decreased more than long−term rates.
[ Full Story ]Top Market Movers Review
Germany TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 9 | 07:00 | Trade Balance | 16.4B | - | 15.0B |
German Trade balance increases its surplus in October (FXstreet.com)
The trade surplus in German has been increased in October from September, as imports decline more than exports, according to data provided by Destatis.
[ Full Story ]- Read the Trade Balance data at German Statistics
- INSTANT VIEW 3−German trade surplus widens in Oct (Thomson Financial News)
- INSTANT VIEW 2−German trade surplus widens in Oct (Thomson Financial News)
- UPDATE 1−German export outlook bleak despite Oct respite (Thomson Financial News)
Switzerland UNEMPLOYMENT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 9 | 06:45 | Unemployment Rate s.a. | 2.7% | - | 2.6% |
| Dec 9 | 06:45 | Unemployment Rate | 2.7% | - | 2.5% |
Swiss unemployment posts first annual rise in 4 years (Thomson Financial News)
The number of unemployed in Switzerland rose for the first time in over four years in November from a year ago as more companies shed jobs due to an economic slowdown.
[ Full Story ]- Read the Employment data at SECO [text in German]
- INSTANT VIEW 2−Swiss adj. unemployment at 2.7 pct in Nov (Thomson Financial News)
- INSTANT VIEW 1−Swiss s/adj jobless rate at 2.7 pct in Nov (Thomson Financial News)
- Switzerland Unemployment Rate increase to 2.7% in November (FXstreet.com)
Japan GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 8 | 23:50 | Gross Domestic Product Annualized | -1.8% | -0.9% | -3.0% |
Japan Jul−Sep Revised Real GDP −0.5% Q/Q; Prelim −0.1% (Dow Jones)
The Japanese government Tuesday revised down the economic growth rate for the third quarter of 2008 due largely to weaker−than−expected business investment. Japan's gross domestic product decreased a price−adjusted 0.5% on quarter during the July−September period, or 1.8% in annualized terms, revised GDP data released by the Cabinet Office showed.
[ Full Story ]- Read the GDP Annualized data at Economic and Social Research Institute
- UPDATE 3−Japan deeper in recession, third−quarter GDP shows (Thomson Financial News)
- TOPWRAP 1−Japan recession gloom deepens; U.S. seeks auto deal (Thomson Financial News)
- UPDATE 2−Japan deeper in recession, third−quarter GDP shows (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 9 | 06:00 | JP | Machine Tool Orders (YoY)  | 62.2% | -20.1% | |
| 06:45 | CH | Unemployment Rate (Nov) | 2.7% | 2.5% | ||
| 06:45 | CH | Unemployment Rate s.a. (Nov) | 2.7% | 2.6% | ||
| 07:00 | DE | Trade Balance (Oct) | 16.4B | 15.0B |
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| 09:30 | UK | DCLG House Price Index (YoY) | -6.5% | -5.1% | ||
| 09:30 | UK | Goods Trade Balance (Oct) | -£7.5B | -£7.5B | ||
| 09:30 | UK | Industrial Production (MoM) (Oct) | -0.3% | -0.2% | ||
| 09:30 | UK | Industrial Production (YoY) (Oct) | -3.0% | -2.2% | ||
| 09:30 | UK | Total Trade Balance (Oct) | -4.0B | -3.9B | ||
| 10:00 | AU | RBA's Governor Glenn Stevens Speech | ||||