Friday, Jan 16, 08:50 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: How to Survive and Prosper in 2009 Credit Crisis by John O'Donnell
- All the events of the day in our Economic Calendar
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Forex Blogs
Friday Follies With Dollar and Yen Strength... The Score? by Tim Salem (CVJ)
Well, we made through as rather tumultuous week…full of event risk, averse sentiment, and counter−intuitive Price behavior! Our "Dollar and Yen Strength Game" on Muscle Beach is still moving along, despite Euro & Company crowding the beach with events and the spotlight...
ForexHedge: Oil in EURO! by Ron Schelling
Sponsored by 
Live Sessions Schedule
Forex Basics Series: Chapter 1 − Trading System
Expert: Valeria Bednarik
Start: Fri, Jan 16, 11:00 GMT
Type of Session: Webinar
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Fri, Jan 16, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Jan 16, 08:30 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Fri, Jan 16, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN |  |
| Fri, Jan 16, 11:00 GMT | Forex Basics Series: Chapter 1 − Trading System | Valeria Bednarik | WBN | |
| Fri, Jan 16, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
Current Session: Europe
Dollar and Yen Pare Gains as Markets Stabilize
ActionForex.com − EUR/JPY's break of 119.72 minor resistance indicates that a short term bottom is in place and some consolidation should now be seen, with risk of recovering further to 4 hours 55 EMA (now at 121.11). Though, upside should be limited below 123.69 cluster resistance and bring fall resumption. As discussed before, whole consolidation from 113.63 could have already completed at 131.03 already. Fall from there is still expected to extend retest 113.63 low on resumption.
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Trading News Report − EUR/USD: Trading the U. of Michigan Consumer Confidence Report by FXCM
The U.S. dollar may continue to strengthen against its currency counterparts as economists forecast the U. of Michigan consumer confidence index to increase to 60.1 from 59.0 in December on the back of falling energy costs.
Pairs to Range Trade − A Confirmed Short−Term Reversal Would Set Up Strong USDCHF Range by FXCM
Sensitive risk trends have kept the dollar in high volatility and pushed many of the majors up to the edge of significant breakouts. These clearly are not the ideal conditions for range trading.
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
EMU TRADE BALANCE S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Jan 16 | 10:00 | Trade Balance n.s.a. | -€4.8B | €0.9B |
| Jan 16 | 10:00 | Trade Balance s.a. | - | -€1.3B |
EMU economic indicators - EMU trade balance is likely to have deteriorated by BHF−Bank
Italian and EMU industrial production will probably have continued decreasing in November, because all correlated climate indicators deteriorated. The EMU trade balance is likely to have deteriorated too, like the corresponding German figure.
[ Full Story ]Top Market Movers Review
Switzerland PRODUCER AND IMPORT PRICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 16 | 08:15 | Producer and Import Prices (YoY) | 0.4% | 0.6% | 1.1% |
| Jan 16 | 08:15 | Producer and Import Prices (MoM) | -0.7% | -0.6% | -1.4% |
Swiss Producer and Import Prices decline for fifth consecutive month in December (FXstreet.com)
Inflation continued declining in Switzerland in December, with producer and import prices posting the fifth consecutive monthly decline, according to figures released by the Swiss Statistics Office.
[ Full Story ]- Read the Producer and Import Prices data at Swiss Statistics
- TABLE−Swiss producer/import prices up 0.4 pct yr/yr Dec (Thomson Financial News)
- Switzerland Dec Producer and Import Prices decline 0.7% in Dec; 0.4% up year on year (FXstreet.com)
Japan BOJ'S GOVERNOR SHIRAKAWA SPEECH
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 16 | 00:30 | BoJ's Governor Shirakawa Speech | - | - | - |
UPDATE 1−Japan economy, financial conditions worsening − BOJ (Thomson Financial News)
Bank of Japan Governor Masaaki Shirakawa warned on Friday economic conditions were becoming more severe and financial conditions were tightening rapidly as falling stock prices hurt Japanese banks. Global growth was slowing rapidly, including in emerging economies, which together with a strong yen were hurting exports and output, Shirakawa said, adding that the central bank would do its utmost to put Japan's economy back on a sustainable growth path.
[ Full Story ]- Read the Speech data at Bank of Japan
- UPDATE 3−BOJ warns of tightening credit amid bank losses (Thomson Financial News)
- BOJ Cuts View On Regional Economies In Jan Regional Report (Dow Jones)
- UPDATE 2−Japan economy, financial conditions worsening − BOJ (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 16 | 00:30 | JP | BoJ's Governor Shirakawa Speech | |||
| 08:15 | CH | Producer and Import Prices (MoM) (Dec) | -0.7% | -0.6% | -1.4% | |
| 08:15 | CH | Producer and Import Prices (YoY) (Dec) | 0.4% | 0.6% | 1.1% | |
| 08:30 | UK | MPC Member Gieve Speaks | ||||
| 10:00 | EMU | Trade Balance n.s.a. (Nov) | -€4.8B | €0.9B | ||
| 10:00 | EMU | Trade Balance s.a. (Nov) | -€1.3B | |||
| 13:30 | US | Consumer Price Index (MoM) (Dec) | -0.9% | -1.7% | ||
| 13:30 | US | Consumer Price Index (YoY) (Dec) | -0.1% | 1.1% | ||
| 13:30 | US | Consumer Price Index Ex Food & Energy (MoM) (Dec) | 0.1% | 0.0% | ||
| 13:30 | US | Consumer Price Index Ex Food & Energy (YoY) (Dec) | 1.9% | 2.0% | ||