Monday, Dec 22, 08:39 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Obamanomics 2009: How to Survive and Prosper in Accelerating Credit Bubble Crisis Ahead by John O'Donnell
- 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
FXbootcamp: Pre London Outlook For December 22nd 2008 by Wayne McDonell
Happy Monday all!! Today we were greeted by some fairly aggressive gold and expressly Euro moves relative to the USD and the Yen. The bounce at the open for Euro was not surprising given where we are technically, however it's left us in "no man's land".
1st on Forex - The Week Ahead - Holiday Time? by Jerry Furst
FXbootcamp: Weekly Pivot Points by Wayne McDonell
Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Dec 22, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Dec 22, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Dec 22, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Dec 22, 14:00 GMT | The Power of Oscillators in Forex Trading  | James Chen | WBN |  |
| Mon, Dec 22, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Dec 22, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN | |
Current Session: Europe
USD/JPY
Yen Mildly Softer after Japan Announced Record Budget Deficit to Stimulate the Economy by ActionForex.com
USD/JPY's recovery from 87.13 continues today and some more upside might still be seen. Nevertheless, another decline is still expected as long as 91.57 resistance holds. Below 88.39 will flip intraday bias back to the downside first. Further break of 87.13 low will target 100% projection of 124.13 to 95.77 from 110.66 at 82.30. On the upside, though, break of 91.57 will suggest that fall from 110.66 might be finished and stronger rebound is underway.
.
EUR/USD
Daily Technical Analysis − EUR: Possibly attempt tiny longs at 1.4000 by Mizuho Corporate Bank
Massive weekly price moves underlining the instability and thin conditions at the end of this hectic year. We reiterate our view that over the coming three weeks we expect a series of smaller moves roughly between 1.4000 and 1.4800.
USD/CAD
Pairs to Range Trade − A Wide Range May Hold USDCAD Through Thin Markets by FXCM
Just two weeks ago, USDCAD broke a sharp rising trend that was putting pressure on the triple top around 1.30.
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
France CONSUMER SPENDING
| Date (GMT) | Event | Cons. | Previous | |
| Dec 23 | 08:45 | Consumer Spending (MoM) | - | -0.5% |
Friday Notes - Consumer spending to further decline by "only" 0.5% in November by UniCredit Group
In spite of increasing strains on consumers to cut discretionary expenditure, we expect consumer spending to further decline by "only" 0.5% m−o−m in November.
[ Full Story ]Top Market Movers Review
Germany GFK CONSUMER CONFIDENCE SURVEY
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 22 | 07:00 | Gfk Consumer Confidence Survey | 2.1 | 2.1 | 2.1 |
German consumer morale steady going into 2009 − GfK (Thomson Financial News)
German consumer morale should hold steady going into 2009 as slowing inflation buoys households' readiness to buy despite growing concerns about the economic outlook, the GfK market research group said on Monday.
[ Full Story ]- INSTANT VIEW 3−German GfK consumer indicator steady for Jan (Thomson Financial News)
- UPDATE: German GfK Jan Consumer Sentiment At 2.1 Vs 2.1 Dec (Dow Jones)
- German GfK January consumer sentiment index remains unchanged from December (FXstreet.com)
Daily Forex Technical Report − Yen Mildly Softer after Japan Announced Record Budget Deficit to Stimulate the Economy by ActionForex.com
Friday Notes - Well below long−term average by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 22 | 05:00 | JP | Bank of Japan Monthly Economic Survey | |||
| 07:00 | DE | Gfk Consumer Confidence Survey (Dec) | 2.1 | 2.1 | 2.1 |
|
| 07:00 | DE | Import Price Index (MoM) (Nov) | -3.4% | -3.6% | ||
| 07:00 | DE | Import Price Index (YoY) (Nov) | 1.3% | 2.9% | ||
| 21:45 | NZ | Gross Domestic Product (QoQ) (3Q) | -0.2% | |||
| 23:00 | AU | Conference Board Australia Leading Index (Oct) | -0.3% | |||
| Dec 23 | 08:45 | FR | Consumer Spending (MoM) (Nov) | -0.5% | ||
| 09:00 | EMU | Current Account n.s.a (Oct) | -6B | |||
| 09:00 | EMU | Current Account s.a (Oct) | -10.6B | |||
| 09:30 | UK | BBA Mortgage Approvals (Nov) | 21.584K | |||