Wednesday, Jan 21, 08:32 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
Forex Today: The Yen Crosses Continue Skiing Down Inauguration Hill! by Tim Salem
In light of the first "real" day of trading for the week…I will not address any commentary today on the Inauguration... except for our large Yen/Equities Correlation. (I thought we would wait out the rest of the Big Day... hence why I waited and decided not to do an Intraday Update as promised in the previous Post.)
FX Bootcamp: Another day, another sell off by David R Pegler
Sponsored by 
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Jan 21, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Jan 21, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jan 21, 10:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Jan 21, 11:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Jan 21, 14:00 GMT | Main Fundamental theme in the Currency market | Terri Belkas | WBN |  |
| Wed, Jan 21, 15:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
Current Session: Europe
Sterling Pressured in Risk Averse Markets, BoE Minutes and UK Job Report Awaited
(ActionForex.com) −GBP/USD recovers mildly after hitting as low as 1.3811 but still intraday bias remains on the downside as long as 1.4055 minor resistance holds. Current fall from 1.5372 is expected to extends further to 1.3680 long term support (50% projection of 1.8668 to 1.4557 from 1.5722 at 1.3667) next. On the upside, above 1.4055 will turn intraday outlook neutral and bring stronger rebound. But upside should be limited below 1.4469 support turned resistance and bring at least on more fall before making a bottom.
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Daily Recommended Trades − The Euro trades below the 1.3 mark by E−Forex
The Euro trades below the 1.3 mark as the overnight recovery to 1.3020 has been short−lived. Momentum is steadily bearish on both hourly and daily charts. Important support formed by a rising trendline is seen into the 1.2830/50 region.
Trading News Report − GBP/USD: Trading the U.K. Jobless Claims Report by FXCM
The U.K. labor market is expected to weaken further as economists forecast jobless claims to rise 81.0K in December, which could spur increased selling pressures for the British pound.
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
UK ILO UNEMPLOYMENT RATE
| Date (GMT) | Event | Cons. | Previous | |
| Jan 21 | 09:30 | Claimant Count Rate | 3.5% | 3.3% |
| Jan 21 | 09:30 | Jobless Claims Change | 80K | 75K |
| Jan 21 | 09:30 | ILO Unemployment Rate (3M) | 6.1% | 6.0% |
| Jan 21 | 09:30 | Average Earnings including Bonus (3Mo/Yr) | 3.4% | 3.3% |
| Jan 21 | 09:30 | Average Earnings excluding Bonus (3Mo/Yr) | 3.6% | 3.6% |
PREVIEW−UK jobless surge seen as downturn escalates (Thomson Financial News)
The number of people out of work and claiming jobless benefit is expected to have marched higher in December, as Britain's economic downturn gathered pace at the end of last year.
[ Full Story ]- FACTBOX−Job cuts announced in the UK since September (Thomson Financial News)
Trading News Report - GBP/USD: Trading the U.K. Jobless Claims Report by FXCM
Top Market Movers Review
Germany PRODUCER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 21 | 07:00 | Producer Price Index (MoM) | -1.0% | -1.1% | -1.5% |
| Jan 21 | 07:00 | Producer Price Index (YoY) | 4.3% | 4.2% | 5.3% |
DATA SNAP: German Dec PPI −1% On Month, +4.3% On Year (Dow Jones)
German factory−gate prices continued to fall in December, signaling future declines in consumer price inflation, data from the Federal Statistics Office showed Wednesday. German producer prices fell 1.0% from November and increased 4.3% from December 2008.
[ Full Story ]- Read the PPI data at German Statistics
- TABLE−German Dec PPI −1.0 pct m/m, +4.3 pct y/y (Thomson Financial News)
- German PPI continues declining in December (FXstreet.com)
- Germany: Producer Price Index declines 1.0% in Dec; 4.3% up year on year (FXstreet.com)
Australia WESTPAC CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 20 | 23:30 | Westpac Consumer Confidence | -2.2% | - | 7.5% |
Australian Consumer Sentiment Index Dn 2.2% In Jan Vs Dec (Dow Jones)
An index of consumer sentiment in Australia fell 2.2% in January from December. The index fell to 89.8 points in January in seasonally adjusted terms from 92.0 points in December, compilers Westpac Banking Corp. and the Melbourne Institute said in a statement.
[ Full Story ]- Read the Confidence data at Westpac Banking Corporation
- TABLE−Recent Australian economic statistics (Thomson Financial News)
- Australia consumers turn gloomy over economy in Jan (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 21 | 05:00 | JP | Leading Economic Index (Nov) | 81.3 | 85.2 | |
| 07:00 | DE | Producer Price Index (MoM) (Dec) | -1.0% | -1.1% | -1.5% | |
| 07:00 | DE | Producer Price Index (YoY) (Dec) | 4.3% | 4.2% | 5.3% | |
| 08:30 | UK | M4 Sterling Lending (Dec)  | £16B | |||
| 09:30 | UK | Average Earnings excluding Bonus (3Mo/Yr) (Nov) | 3.6% | 3.6% | ||
| 09:30 | UK | Average Earnings including Bonus (3Mo/Yr) (Dec) | 3.4% | 3.3% | ||
| 09:30 | UK | Bank of England Minutes | ||||
| 09:30 | UK | Claimant Count Rate | 3.5% | 3.3% | ||
| 09:30 | EMU | ECB Trichet's Speech | ||||
| 09:30 | UK | ILO Unemployment Rate (3M) (Dec) | 6.1% | 6.0% | ||