Friday, Jan 02, 08:43 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Chartology: Happy New Year!... and a few thoughts about '08 by Raghee Horner
2008 brought even more traders to the forex arena and I think it's safe to say that 2009 will be just a good as the popularity of forex grows and the public learns more about this marketplace. One thing that I continually found interesting was trader expectation. Remember nothing can go "too high" and zero is basically support.
FxBootcamp: Pre London Outlook For January 2nd 2009 by David R Pegler
ForexHedge: EURO in Slovakia by Ron Schelling
Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Jan 5, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Jan 5, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jan 5, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Jan 5, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Jan 5, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN |  |
| Mon, Jan 5, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: Europe
EUR/USD
The New Year began in Asia with the Euro getting crushed
(FOREX.com) − The New Year began in Asia with the Euro getting crushed ahead of PMI manufacturing data that most expected would show that Europe is slipping further into a deep recession, not a great way to celebrate the tenth anniversary of the Euro and the addition of Slovakia as the 16th member of the Euro Zone. The EUR/USD opened near the 1.4000 level and initially popped to 1.4027 before the landslide occurred that sent the volatile pair to a 1.3850 low. The overbought Euro was closer to 1.3870 ahead of the data set to be released at 8:50GMT, 8:55GMT, and 9:00GMT
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EUR/GBP
Daily Market Briefing − Euro Ends Year Down Slightly Against US Dollar as EUR/GBP Dictates Price Action by FXCM
In the final days of 2008, EUR/GBP traded at record highs to target parity, as the markets anticipated that the European Central Bank would be far slower to cut interest rates than the Bank of England.
USD/JPY
Daily Forex Strategy Briefing − Dollar and Yen Gained in 2008 as Risk Aversion Spiked by CMS Forex
The dollar gained against most major currencies in the New Year Eve's thin trading. US equity markets rose for a second day, trimming losses at the end of the markets' worst year since the Great Depression.
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 ISM MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Jan 2 | 15:00 | ISM Manufacturing | - | 36.2 |
US economic indicators - ISM manufacturing index (Dec): again indicating recession in the overall economy by BHF−Bank
The ISM manufacturing index fell further to 36.2, thus signalling recession in the overall economy for the second consecutive month. The first regional manufacturing surveys stabilised at very low levels, and we therefore expect the ISM manufacturing index to have remained more or less unchanged in December.
[ Full Story ]Top Market Movers Review
Australia RBA COMMODITY INDEX SDR
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 2 | 05:30 | RBA Commodity Index SDR (YoY) | 34.4% | - | 35.0% |
Australia commodity index dips 1.3 pct in Dec−RBA (Thomson Financial News)
The Reserve Bank of Australia's (RBA) index of commodity prices fell in November for the third month in a row, the central bank reported on Friday. The RBA's index fell by 1.3 percent in special drawing rights terms to 253.7, following a revised 2.9 percent fall in November.
[ Full Story ]- Read the Commodity data at RBA
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 31 | 19:00 | EMU | ECB Trichet's Speech | |||
| Jan 1 | 00:00 | JP | New Year's Day | |||
| 00:00 | AU | New Year's Day | ||||
| Jan 2 | 05:30 | AU | RBA Commodity Index SDR (YoY) (Dec) | 34.4% | 35.0% | |
| 08:55 | DE | Purchasing Manager Index Manufacturing (Dec) | 35.7 | |||
| 09:00 | EMU | Purchasing Manager Index Manufacturing (Dec) | 35.6 | |||
| 09:30 | UK | Bank of England Credit Conditions Report (Dec) | ||||
| 09:30 | UK | Consumer Credit (Nov) | £0.8B | |||
| 09:30 | UK | M4 Money Supply (MoM) (Nov) | 2.8% | |||
| 09:30 | UK | M4 Money Supply (YoY) (Nov) | 15.3% | |||