Wednesday, Dec 24, 08:44 GMT
EUROPEAN Trading Newsletter
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- All the events of the day in our Economic Calendar
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Forex Blogs
FxBootcamp: Pre London Outlook For December 24th 2008: EURJPY to shine by Wayne McDonell
Seasons greetings to everybody!! After 2 days of consolidation for Euro Yen, perhaps today is the day for this pair to shine. I make use of a simple price trap and Fibonacci to put together a trade plan for the day.
The Trader's Edge - AUD/USD - What is the market doing? by Ross Yamashita
FX Trading Today - USD/JPY To 91.50 then South to Below 90.00? by Tim Salem
Live Sessions Schedule
Doing Dealer Due Diligence
Expert: John Jagerson
Start: Mon, Dec 29, 14:00 GMT
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Dec 29, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Dec 29, 14:00 GMT | Doing Dealer Due Diligence | John Jagerson | WBN |  |
| Mon, Dec 29, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Dec 29, 16:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN | |
| Tue, Dec 30, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
Current Session: Europe
AUD/USD
Daily Forex Outlook − AUD/USD Daily Outlook
Action Forex − AUD/USD dips further to 0.6760 today, taking out an inner trend line support. At this point, intraday bias remains on the downside as long as 0.6929 minor resistance holds and further decline should be seen towards 0.6486 support. As discussed before, price actions from 0.6008 are treated as consolidation in the larger down trend with rise from 0.6075 as the third leg.
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EUR/USD
Daily Forex Outlook − No Presents for the Market this Christmas by Easy Forex
U.S. Dollar Trading (USD) managed small gains again today as the market shrugged off bad economic data and year end demand favored the Dollar. The Euro (EUR) Holiday mode trading saw the Euro stay inside the previous days trading range.
USD/CAD
Daily Market Commentary − US Dollar: Unfazed By Economic Data by GFT (Global Forex Trading)
The currency in play for the next 24 hours will be the USD/CAD. Canada is set to release its GDP at 8:30AM EST or 13:30GMT.
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 Review
US NEW HOME SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 23 | 15:00 | New Home Sales (MoM) | -2.9% | -3.0% | -5.3% |
| Dec 23 | 15:00 | New Home Sales | 407K | 418K | 419K |
US ECON: November New Home Sales Down to 407,000 Annual Unit Rate (Thomson Financial News)
The number of new home sales sold in the US fell deeper than expected to a 407,000 seasonally adjusted annual unit rate, the lowest seen since 1991, the Commerce Department reported today.
[ Full Story ]- Read the new home sales data at US Census Bureau
- CORRECT: US Nov Single−Family Home Sales −8.0%, Not Dn To 8.0% (Dow Jones)
- ECONOMIC REPORT: U.S. Data Show Sales Of New Homes At Lowest Level In 17 Years (Dow Jones)
- UPDATE 1−U.S. new home sales fall 2.9 pct in November (Thomson Financial News)
US Dollar Unfazed By Economic Data by GFT (Global Forex Trading)
Daily Analysis - U.S House sales probably fell in November as the slump continues by Finotec Group Inc.
Daily Forex Technical Report − Markets in Consolidation, Focus on US Home Sales by ActionForex.com
US GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 23 | 13:30 | Gross Domestic Purchases Price Index | 4.5% | 4.7% | 4.2% |
| Dec 23 | 13:30 | Gross Domestic Product Annualized | -0.5% | -0.5% | 2.8% |
US ECON: Final Q3 GDP Down 0.5% as Expected, Core Inflation at 2.4% (Thomson Financial News)
The Commerce Department reported no revision to the 0.5% drop in GDP for the third quarter, but unexpectedly revised both core and headline inflation down by 0.2 percentage points.
[ Full Story ]- Read the GDP data at US Bureau of Economic Analysis
- WRAPUP 1−US Q3 GDP shrank 0.5 pct as economy chilled (Thomson Financial News)
- TOPWRAP 5−US downturn confirmed, Britain contracts sharply (Thomson Financial News)
- INSTANT VIEW 6−U.S. final Q3 GDP unrevised −0.5 pct (Thomson Financial News)
The final reading for Q3 GDP is expected to be −0.5% by ActionForex.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 23 | 15:00 | US | Existing Home Sales (Nov) | 4.49M | 4.93M | 4.91M |
| 15:00 | US | Housing Price Index (MoM) (Nov) | -1.1 | -1.3 | -1.3 | |
| 15:00 | US | New Home Sales (Nov) | 407K | 418K | 419K |
|
| 15:00 | US | Richmond Fed Manufacturing Index (Dec) | -55 | -38 | ||
| Dec 24 | 13:30 | US | Continuing Jobless Claims (Dec 13) | 4384K | ||
| 13:30 | US | Core Personal Consumption Expenditure − Prices Index (MoM) (Nov) | 0% | 0% | ||
| 13:30 | US | Core Personal Consumption Expenditure − Prices Index (YoY) (Nov) | 2.0% | 2.1% | ||
| 13:30 | US | Durable Goods Orders (Nov) | -3.0% | -6.2% | ||
| 13:30 | US | Durable Goods Orders ex Transportation (Oct) | -3.0% | -4.4% | ||
| 13:30 | CA | Gross Domestic Product (MoM) (Oct) | -0.3% | 0.1% | ||