Monday, Jan 12, 08:49 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Trading Break Out's And Other Market Views by Phil Newton
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: If the British Pound Continues... Time to Buy a New House! by Tim Salem
"What happened to the big "Risk Appetite is back!" cheers from the Media world?... We thought the Majors were back and the Dollar is fading away???"... I can hear the CVJ Fan Club guys say …with clear sarcasm, of course. Surely our Non−Farm Payroll Data would compliment their sarcastic views... as we still have Dollar and Yen strength which is "counter−intuitive".
FxBootcamp: Pre London Outlook For January 12th 2009 by David R Pegler
Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Jan 12, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Forex Basics Series: Chapter 1 − Trading System
Expert: Valeria Bednarik
Start: Mon, Jan 12, 12:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jan 12, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Jan 12, 12:00 GMT | Forex Basics Series: Chapter 1 − Trading System | Valeria Bednarik | WBN |  |
| Mon, Jan 12, 13:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN | |
| Mon, Jan 12, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
Euro falling below support at 1.3550
(E−Forex) − The Euro declined versus the greenback on Friday, falling below support at 1.3550. Short−term studies maintain their bearish bias and next downside target is seen at 1.3280, the 61.8% retracement of the 1.2390−1.4720. Intra−day resistance starts at 1.3450 followed by 1.3550 while support emerges at 1.3280 and 1.3100. On a short−term basis, momentum will remain bearish while trading below 1.3835. Current quote is 1.3414 @07:30 GMT
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Technical Summary for Majors − USD/JPY: Extending decline to approach 89.75 by Windsor Brokers Ltd
Extending decline to approach 89.75 from 29 of December, nr 61.8% of 87.13/94.65. A 5 wave−like structure numbers completion off 94.65 though o/shoot to 88.41−89.00 possible.
Hedging Range Trades − Update − New Zealand Weakness To Continue Before Short Reversal (Forex Hedging Strategy) by FXCM
In our original article we advocated an overall long position in the Australian Dollar against its New Zealand counterpart. We also felt that a short−term southward bias would ensue once the pair reached the 1.2260 level.
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 WHOLESALE INVENTORIES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 9 | 15:00 | Wholesale Inventories | -0.6% | -0.8% | -1.2% |
US Wholesale Inventories decline less than expected in November (FXstreet.com)
Wholesale inventories have declined in November for the third consecutive time, although at a lower than expected extent, according to data released by the U.S. Commerce Department.
[ Full Story ]- Read the official data at US Census Bureau
- UPDATE 1−Nov wholesale U.S. sales post record drop (Thomson Financial News)
- Nov wholesale U.S. sales post record drop (Thomson Financial News)
- TABLE−U.S. Nov wholesale inventories fell 0.6 pct (Thomson Financial News)
US NONFARM PAYROLLS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 9 | 13:30 | Average Hourly Earnings (YoY) | 3.7% | - | 2.8% |
| Jan 9 | 13:30 | Nonfarm Payrolls | -524K | -480K | -584K |
| Jan 9 | 13:30 | Average Weekly Hours | 33.3 | 33.5 | 33.5 |
| Jan 9 | 13:30 | Average Hourly Earnings (MoM) | 0.3% | 0.2% | 0.4% |
| Jan 9 | 13:30 | Unemployment Rate | 7.2% | 7.0% | 6.7% |
US Non−Farm Payrolls post another sharp decrease in December (FXstreet.com)
Payroll employment has posted a n unusually large increase in the US in December, the second in a row to put an end to a year that in unemployment terms has been the worst since 1945, according to data released by the US Department of Labor.
[ Full Story ]- Employment Situation Summary at US Department of Labor
- UPDATE:Dlr Up Sharply Vs Euro Post−Payroll Data;Volatile Trade (Dow Jones)
- WRAPUP 2−US jobless rate at 16−year high as payrolls plunge (Thomson Financial News)
- Dollar Up Sharply Vs Euro After Payroll Data In Volatile Trade (Dow Jones)
USA: Another grim payrolls report by Danske Bank A/S
Mid−Day Forex Technical Report − Dollar Higher after Non−Farm Payroll by ActionForex.com
Daily Market Report - All eyes will be on this morning's Nonfarm Payrolls and Unemployment figures by Wachovia
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 12 | 07:00 | EMU | ECB Trichet's Speech | |||
| 13:30 | CA | New Housing Price Index (YoY) (Nov) | 1.5% | |||
| 15:30 | CA | Bank of Canada Business Outlook Survey (Dec) | ||||
| 21:00 | NZ | NZIER Business Confidence (1Q) | -19 | |||
| 23:50 | JP | Adjusted Current Account (Nov) | ¥1113.2B | |||
| 23:50 | JP | Money Supply M2+CD (YoY) (Dec) | 1.7% | |||
| 23:50 | JP | Trade Balance − BOP Basis (Nov) | ¥145B | |||
| Jan 13 | 00:01 | UK | BRC Retail Sales Monitor − All (YoY) (Dec) | -2.6% | ||
| 00:01 | UK | RICS House Price Balance (Dec) | -76% | |||
| 09:30 | UK | DCLG House Price Index (YoY) (Nov) | -7.4% | |||