Friday, Dec 19, 08:48 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Trading Range bound and Trending Markets by Adam Rosen
- FED Meeting preview in our Economic Calendar
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Forex Blogs
Forex Trading Today: Queen Sterling Out?... King Euro In? by Tim Salem
What an "eventful" day we had yesterday! Crude Oil blows off anything even remotely related to OPEC and cliff−dives into the sea touching under $36.00 per Barrel... Gold still marches gallantly along... it seems to have its' shiny metal heart set on reaching $1000 again in the future...
FX Market Readings: Continuation of volatile moves for week end by Dr.S. Sivaraman
FXbootcamp: FOREX Training Video - London Session December 18, 2008 by Christian Stephens
Live Sessions Schedule
Identifying Cycles in the Market
Expert: Valeria Bednarik
Start: Fri, Dec 19, 13:00 GMT
Type of Session: Webinar
Topics
− Practical examples
− Best indicators for trade cycles and triggers explanations.
− Definition of cycles
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Dec 19, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Dec 19, 08:30 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Fri, Dec 19, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN |  |
| Fri, Dec 19, 13:00 GMT | Identifying Cycles in the Market | Valeria Bednarik | WBN | |
| Fri, Dec 19, 15:00 GMT | Banging around the Bands | Chris Capre | WBN | |
Current Session: Europe
EUR/USD
EUR: Possibly attempt tiny longs at 1.4260
Mizuho Corporate Bank After the biggest weekly move ever, the Euro has formed a massive ‘shooting star' against 61% Fibonacci resistance. Therefore we reiterate our vie that over the coming three weeks we expect a series of smaller moves roughly between 1.4000 and 1.4800.
Possibly attempt tiny longs at 1.4260; stop well below 1.4000. First target 1.4445, then 1.4600/1.4650.
.
EUR/JPY
Daily Forex Technical Report − BoJ Cuts 20bps, Has Euro Topped? by ActionForex.com
EUR/JPY's rise extended further to as high as 131.03, meeting mentioned target of 131.02 resistance briefly. Though, retreat from there drags down 4 hours MACD and suggests that an intraday top is in place.
AUD/CAD
Pairs to Range Trade − Fading Liquidity And Long−Term Congestion Sets Up A Strong AUDCAD Range Trade by FXCM
Volatility has hit extreme levels over the past week; but throughout the unusual activity, AUDCAD has held relatively stable.
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
Canada CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Dec 19 | 12:00 | Bank of Canada Consumer Price Index Core (YoY) | 1.5% | 1.7% |
| Dec 19 | 12:00 | Bank of Canada Consumer Price Index Core (MoM) | -0.2% | -0.2% |
| Dec 19 | 12:00 | Consumer Price Index (YoY) | 1.8% | 2.6% |
| Dec 19 | 12:00 | Consumer Price Index (MoM) | -0.5% | -1.0% |
Trading News Report - Easing Inflation Could Sink the Canadian Dollar by FXCM
Inflation in Canada is expected to have another historic drop aseconomists are predicting that consumer prices will fall to 1.5% from2.6% in November. The report may not pack the same punch as previousones as the markets are fully expecting price pressures to ease at arapid pace.
[ Full Story ]Daily Market Briefing - Canadian Dollar Could Slump as CPI is Forecasted to Fall Below BOC's 2% Target by FXCM
Top Market Movers Review
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 19 | 05:27 | BoJ Interest Rate Decision | 0.1% | 0.1% | 0.3% |
BOJ cuts key interest rate to 0.10 pct from 0.30 pct (Thomson Financial News)
The Bank of Japan cut its key policy rate to 0.10 percent on Friday and took other steps to ease corporate credit strains, as sharp yen rises and crumbling global demand hit an economy already in recession. The decision, which follows Tuesday's dramatic rate cut by the Federal Reserve, was made by a vote of 7−1. Board member Tadao Noda voted against the rate decision, which takes effect immediately.
[ Full Story ]- Read the Rate data at Bank of Japan
- JGBs advance after BOJ cuts rates closer to zero (Thomson Financial News)
- GLOBAL MARKETS−Japan bonds rise after rate cut, dollar falls (Thomson Financial News)
- TOPWRAP 2−Japan cuts rates, U.S. automakers progress on deal (Thomson Financial News)
Market Session Recaps - Asia Session by FOREX.com
Daily Forex Technical Report − BoJ Cuts 20bps, Has Euro Topped? by ActionForex.com
Daily Market Briefing - Japanese Yen: Bank of Japan May Cut Rates Overnight, Risks of Verbal and Physical Intervention by FXCM
UK GFK CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 19 | 00:08 | Gfk Consumer Confidence | -33 | -39 | -35 |
DATA SNAP: UK Consumer Confidence Stages Surprise Rebound (Dow Jones)
U.K. consumer confidence staged a surprise recovery in December, as cuts in the sales tax and interest rates made major purchases appear more attractive. According to the results of a monthly survey released by polling firm GfK NOP Friday, the headline measure of consumer confidence rose to −33 in December from −35 in November.
[ Full Story ]- Read the Confidence data at GfK NOP
- UK consumer confidence shows surprise rise in Dec (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 19 | 05:27 | JP | BoJ Interest Rate Decision | 0.1% | 0.1% | 0.3% |
| 07:00 | DE | Producer Price Index (MoM) (Nov) | -1.5% | -1.0% | 0.0% | |
| 07:00 | DE | Producer Price Index (YoY) (Nov) | 5.3% | 5.8% | 7.8% | |
| 08:00 | JP | BoJ's Governor Shirakawa Speech | ||||
| 09:30 | UK | Total Business Investment (QoQ) (3Q) | -1% | |||
| 09:30 | UK | Total Business Investment (YoY) (3Q) | 1.2% | |||
| 12:00 | CA | Bank of Canada Consumer Price Index Core (MoM) (Nov) | -0.2% | -0.2% |
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| 12:00 | CA | Bank of Canada Consumer Price Index Core (YoY) (Nov) | 1.5% | 1.7% | ||
| 12:00 | CA | Consumer Price Index (MoM) (Nov) | -0.5% | -1.0% | ||
| 12:00 | CA | Consumer Price Index (YoY) (Nov) | 1.8% | 2.6% | ||