Tuesday, Dec 23, 08:30 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: MONTHLY WEBINAR - The 1-2-3 chart pattern by Sunil Mangwani
- All the events of the day in our Economic Calendar
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Forex Blogs
1st on Forex: Holiday Season − A Good Time To Prepare for 2009 by Jerry Furst
Good Time To Work On Your Trading and Business Plan:
This market − and season is quite unique. During my webinar today I suggested that traders consider taking the Holiday Season off − away from trading − and concentrate on reflecting on this past years trading and amazing market dynamics...
1st on Forex - The Week Ahead - Holiday Time? by Jerry Furst
FxBootcamp: Pre London Outlook For December 23rd 2008 by Wayne McDonell
Live Sessions Schedule
Back to basics: strategy review and round up
Expert: Phil Newton
Start: Tue, Dec 23, 10:00 GMT
Type of Session: Webinar
Trading techniques discussed
Expert: Adam Rosen
Start: Tue, Dec 23, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Dec 23, 10:00 GMT | Back to basics: strategy review and round up | Phil Newton | WBN |  |
| Tue, Dec 23, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Dec 23, 13:00 GMT | Fan and Speed lines | Valeria Bednarik | WBN | |
| Tue, Dec 23, 14:00 GMT | Trading techniques discussed | Adam Rosen | WBN | |
Current Session: Europe
EUR/CHF
Markets in Consolidation, Focus on US Home Sales
ActionForex.com − One point to note is that EUR/CHF dips further to 1.5199 and is closer to mentioned 1.5163 support. Break of this support will confirm that rebound from 1.4315 has completed at 1.5880 after touching an important fibo resistance level and will trigger switch in balance of strength in Euro and Swissy.
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NZD/USD
Pairs to Range Trade − NZDUSD Pares Gains, Offers Range Trade Opportunities by FXCM
The NZDUSD snapped back last week to cross above the 21.4% Fib and the 50 Day SMA, but the lack of momentum to push higher has held the pair in a downward trend.
USD/JPY
Forex Trading Strategies − USDJPY closes higher as US 2−year yields rise sharply by Saxo Bank
We might expect USDJPY to continue to drift toward 91.00 and even higher as that pair still has plenty of room to continue to consolidate the recent sell−off. USDJPY managed to rise despite yesterday's equity sell−off.
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
US GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Cons. | Previous | |
| Dec 23 | 13:30 | Gross Domestic Product Annualized | -0.5% | 2.8% |
| Dec 23 | 13:30 | Gross Domestic Purchases Price Index | 4.7% | 4.2% |
The final reading for Q3 GDP is expected to be −0.5% by ActionForex.com
The final readings for Q3 GDP and personal consumption are expected to be −0.5% and −3.7% respectively, same as preliminarily reported. The final December reading for the University of Michigan index of consumer sentiment likely dropped to 58.6 from 59.1 initially estimated. The gauge should have increased from 55.3 in November as decline in gasoline prices and lower mortgage rates were expected to improve personal finance and helped sentiment.
[ Full Story ]Top Market Movers Review
New Zealand GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 22 | 21:45 | Gross Domestic Product (QoQ) | -0.4% | -0.5% | -0.2% |
TABLE−NZ Q3 gross domestic product falls 0.4 pct (Thomson Financial News)
New Zealand's gross domestic product fell 0.4 percent in the third quarter on a seasonally adjusted basis, according to official data on Tuesday. Economists polled by Reuters had a median forecast for a fall of 0.5 percent on the previous quarter, and also a decline of 0.1 percent on an annual average basis. The Reserve Bank of New Zealand had forecast a quarterly fall of 0.3 percent.
[ Full Story ]- Read the GDP data at Statistics New Zealand
- UPDATE 2−NZ recession deepens as global crisis bites (Thomson Financial News)
- UPDATE 1−NZ recession deepens as global crisis bites (Thomson Financial News)
- INSTANT VIEW 3−NZ Q3 GDP shrinks, recession deepens (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 22 | 10:00 | EMU | Industrial New Orders (YoY) (Oct) | -15.1% | -9.8% | -1.1% |
| 10:00 | EMU | Industrial New Orders s.a. (MoM) (Oct) | -4.7% | -4.0% | -3.9% | |
| 21:45 | NZ | Gross Domestic Product (QoQ) (3Q) | -0.4% | -0.5% | -0.2% | |
| 23:00 | AU | Conference Board Australia Leading Index (Oct) | -0.5% | -0.3% | ||
| Dec 23 | 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 | |||
| 09:30 | UK | Current Account (3Q) | -£11B | |||
| 09:30 | UK | Gross Domestic Product (QoQ) (3Q) | -0.5% | 0.0% | ||
| 09:30 | UK | Gross Domestic Product (YoY) (3Q) | 0.3% | 1.5% | ||