Tuesday, Jan 13, 08:40 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: Risk−Averse Dollar and Yen Strong... But Is One Stronger? by Tim Salem
With an active and volatile start to the week, Risk Aversion is the Name of the Game…as mentioned in the previous Posts. The Dollar and the Yen staged solid and weight−filled strength yesterday literally leaving no Currency Unit untouched! Our Macro correlations are largely back in view, as Equities and the Indices Outflows sailed right along with these two Units.
FxBootcamp: Pre London Outlook For January 13th 2009 by David R Pegler
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Tue, Jan 13, 12:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, Jan 13, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Jan 13, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN | |
| Tue, Jan 13, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Tue, Jan 13, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Tue, Jan 13, 16:00 GMT | Trading with Autochartist | Raghee Horner | WBN | |
Current Session: Europe
Yen Crosses Dive Further, Euro Weak
ActionForex.com − EUR/JPY's fall from 131.03 is still in progress and extends further to as low as 118..05 and at this point, intraday bias remains on the downside as long as 120.90 minor resistance holds. As discussed before, consolidation from 113.63 could have completed at 131.03 already. Further fall is now expected to 115.88 support and break will add much credence to this case and bring retest of 113.63 low. On the upside, above 120.90 will turn intraday outlook neutral first but recovery should be limited below 125.19 resistance and bring another fall.
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Forex Trading Strategies − USDCAD may look for some further upside here by Saxo Bank
With tumbling oil prices and a resurgent greenback, USDCAD may look for some further upside here, especially if the 55−day moving average gives way (red line).
Daily Market Commentary − 3 Forces Driving the EUR/USD Lower by GFT (Global Forex Trading)
There were 3 forces driving the Euro lower today – risk aversion, speculation about interest rate cut from the European Central Bank and the potential downgrade of Spain's AAA sovereign debt rating
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 TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Jan 13 | 13:30 | Trade Balance | -$51.40B | -$57.19B |
US economic indicators - Trade deficit (November): shrinking significantly due to weak domestic demand and falling prices by BHF−Bank
We expect the nominal trade deficit to have narrowed from $57.2bn to $51.5bn in November, and the real trade deficit is also likely to have decreased. But net exports will nevertheless contribute negatively to GDP in Q4, for the first time since Q1/2007.
[ Full Story ]Top Market Movers Review
UK BRC RETAIL SALES MONITOR − ALL
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 13 | 00:01 | BRC Retail Sales Monitor − All (YoY) | -3.3% | - | -2.6% |
DATA SNAP: UK Retail Sales Post Record Christmas Drop − BRC (Dow Jones)
U.K. retail sales posted their worst Christmas performance on record in December, as broad−based weakness sent sales plunging, the British Retail Consortium said Tuesday. According to the BRC, same−store retail sales were down 3.3% in December from a year earlier. That compares with a 2.6% drop in November, and marks the sharpest drop in Christmas trading in the survey's 14−year history.
[ Full Story ]- Read the Retail Sales data at BRC
- WRAPUP 2−Trio of key surveys show UK in steep downturn (Thomson Financial News)
- WRAPUP 1−Trio of key surveys show UK in steep downturn (Thomson Financial News)
- UK retail sales suffer worst Dec fall on record −BRC (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 12 | 23:50 | JP | Adjusted Current Account (Nov) | ¥654.1 | ¥620.0B | ¥1113.2B |
| 23:50 | JP | Trade Balance − BOP Basis (Nov) | ¥-93.4B | ¥145.0B | ||
| Jan 13 | 00:01 | UK | BRC Retail Sales Monitor − All (YoY) (Dec) | -3.3% | -2.6% | |
| 00:01 | UK | RICS House Price Balance (Dec) | -73% | -74% | -76% | |
| 09:00 | EMU | ECB Trichet's Speech | ||||
| 09:30 | UK | DCLG House Price Index (YoY) (Nov) | -8.5% | -7.4% | ||
| 09:30 | UK | Goods Trade Balance (Nov) | -£7.6B | -£7.8B | ||
| 09:30 | UK | Total Trade Balance (Nov) | -3.9B | |||
| 13:00 | US | Fed's Bernanke Speech | ||||
| 13:30 | CA | International Merchandise Trade (Dec) | $3.20B | $3.78B | ||