Friday, Dec 12, 08:33 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
1st on Forex: Dollar Breaking Down − Technical Analysis Update by Jerry Furst
Two days ago I posted several charts showing some nice chart patterns − indicating to me a consolidation was ready to breakout and I labeled the post "Pause Before the Storm". Let's look at the charts side by side now.
Forex Trading Today: Flight 4367 from Sydney to Washington D.C now boarding by Tim Salem
FX Market Readings: Traders are bullish for players to book profit by Dr. S. Sivaraman
Live Sessions Schedule
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Fri, Dec 12, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Dec 12, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Dec 12, 08:30 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Fri, Dec 12, 09:00 GMT | Live Trading and Analysis in the Forex Markets  | Sam Seiden | WBN | |
| Fri, Dec 12, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum | Sunil Mangwani | WBN |  |
| Fri, Dec 12, 11:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
Current Session: Europe
USD/JPY
Yen Soars after Sentate Voted Down Automaker Bailout Bill
ActionForex.com − The Japanese yen soars on risk aversion on news that the US Senate voted down on the $14b automaker bailout bill. The bill collapsed after United Auto Workers refused to accede to Republican's demand for swift wage cuts to bring their pay into line with Japanese carmakers. MSCI Asia Pacific index dropped 3.5% with Nikkei down more than 5%. Yen strength is seen across the board and most apparent against the dollar with USD/JPY dives through 90 level to 13 year low of 88.54.
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EUR/USD
Trading News Report − EUR/USD: Trading the U.S. Advance Retail Sales Release by FXCM
The U.S. dollar may face increased selling pressures on Friday as economists predict retail sales to contract another 2.0% in November, following the record drop during the previous month. Growth prospects for the world's largest economy has weakened considerably throughout the second half of the year as the country faces its longest recession in over a quarter century.
EUR/JPY
Daily Technical Analysis − Dropping from the upper edge of the ‘right−angled triangle' by Mizuho Corporate Bank
Note that some Yen crosses have dipped below October's low, the lowest being THB/JPY. Expect all Yen crosses to trade cautiously lower over the next few weeks. Strategy: Sell at 119.00, adding to 121.00; stop above 123.00. First target 118.00, eventually 116.50/116.00.
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 INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Dec 12 | 10:00 | Industrial Production w.d.a. (YoY) | - | -2.4% |
| Dec 12 | 10:00 | Industrial Production s.a. (MoM) | - | -1.6% |
EMU economic indicators - EMU industrial production (October): down by BHF−Bank
Output in the German producing sector, French, Italian and overall EMU industrial production are all likely to have declined in October, since most of the correlated indicators dropped.
[ Full Story ]Top Market Movers Review
New Zealand RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 11 | 21:45 | Retail Sales (MoM) | -1.3% | 0.0% | 0.1% |
INSTANT VIEW−NZ Oct retail sales fall as car sales slump (Thomson Financial News)
New Zealand retail sales posted their biggest monthly fall in four−and−a−half years in October on the back of a slump in vehicle sales, backing views the recession will drag into next year and the central bank will keep cutting interest rates. Seasonally adjusted sales fell 1.3 percent on the previous month, the biggest monthly fall since February 2004, but core sales, excluding autos, rose 0.8 percent, official data showed on Friday.
[ Full Story ]- Read the Retail Sales data at Statistics New Zealand
- UPDATE 1−NZ retail sales fall sharply in October (Thomson Financial News)
- INSTANT VIEW 2−NZ Oct retail sales fall as car sales slump (Thomson Financial News)
- TABLE−NZ October retail sales slide 1.3 pct (Thomson Financial News)
Daily Forex Technical Report − Yen Soars after Sentate Voted Down Automaker Bailout Bill by ActionForex.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 12 | 04:30 | JP | Capacity Utilization (Oct) | -3.9 | 1.6 | |
| 04:30 | JP | Industrial Production (YoY) (Oct) | -7.1% | 0.2% | ||
| 05:00 | JP | Consumer Confidence (Nov) | 28.7 | 29.8 | ||
| 05:00 | JP | Consumer Confidence Households (Nov) | 28.4 | 29.4 | ||
| 10:00 | EMU | Industrial Production s.a. (MoM) (Oct) | -1.6% | |||
| 10:00 | EMU | Industrial Production w.d.a. (YoY) (Oct) | -2.4% | |||
| 10:00 | EMU | Labor Costs (YoY) (3Q) | 2.7% | |||
| 13:30 | CA | Capacity Utilization (3Q) | 78.9% | |||
| 13:30 | CA | New Motor Vehicle Sales (MoM) (Oct) | 2.5% | |||
| 13:30 | US | Producer Price Index (MoM) (Nov) | -2.8% | |||