Thursday, Jan 22, 08:47 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Rule Based Short Term Trading In Forex by Sam Seiden
- All the events of the day in our Economic Calendar
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
The Trader's Edge: EUR/USD Correction? by Ross Yamashita
Let's pull up the EUR/USD hourly chart. Although the long term trend is still down, it looks as if we may get a retracement in the market. The daily EUR/USD chart indicates we hit a potential low on 1/21/09 and am now going to head up for a retracement. A good way to stay safe while doing your research is to wait until the currency pair crosses the upper black line.
Forex Trading Today: The Yen Retreats and The Queen Sinks... But For How Long? by Tim Salem
Sponsored by 
Live Sessions Schedule
MONTHLY WEBINAR: Trading Strategy Esentials − Part I
Expert: Phil Newton
Start: Thu, Jan 22, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jan 22, 14:00 GMT | MONTHLY WEBINAR: Trading Strategy Esentials − Part I | Phil Newton | WBN |  |
| Thu, Jan 22, 16:00 GMT | MONTHLY WEBINAR: Trading with a Consistant Trading Plan and Strategy − Part II  | Phil Newton | WBN | |
| Fri, Jan 23, 08:30 GMT | Outlook for the major currencies this week | Ian Copsey | WBN | |
| Fri, Jan 23, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum | Sunil Mangwani | WBN |  |
Current Session: Europe
What's Behind the Big Moves in Currencies?
GFT (Global Forex Trading) − With the Japanese Yen hitting levels not seen against the US dollar in more than a decade, the question hanging over the markets is whether the Bank of Japan will intervene to weaken the Japanese Yen. They have tried verbal intervention and it hasn't worked. Up until now, the Japanese have been reluctant to physically intervene because they may not have support from the US or Europe. However there comes a point when they may have to stop thinking about other people and start thinking about themselves. Japanese corporations like Toyota have suffered greatly from the strength of the Yen and these companies may be exerting pressure on the government to take action.
.
Forex Trading Strategies − GBPUSD was all the way down through 1.3700 by Saxo Bank
GBPUSD was all the way down through 1.3700 before bouncing to above 1.4000 overnight in a spectacular display of volatility.
Daily Recommended Trades − Euro got a boost towards the 1.3100 resistance zone by E−Forex
Current recovery confirms the strong support into the 1.2830/50 region as the Euro got a boost towards the 1.3100 resistance zone on yesterday.
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 INDUSTRIAL NEW ORDERS S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Jan 22 | 10:00 | Industrial New Orders s.a. (MoM) | -5.0% | -4.7% |
EMU economic indicators - Industrial New Orders expected to have decreased by BHF−Bank
French consumer spending could have remained unchanged at best in December, as French consumer confidence deteriorated. EMU industrial new orders are expected to have decreased further in November, just as German industrial new orders did.
[ Full Story ]Top Market Movers Review
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 22 | 03:00 | BoJ Interest Rate Decision | 0.1% | 0.1% | 0.1% |
BOJ keeps rate on hold, sees economy shrinking (Thomson Financial News)
The Bank of Japan kept interest rates unchanged on Thursday and said it will examine buying corporate bonds to ease credit strains for companies as the nation's recession deepens. The decision on rates was unanimous.
[ Full Story ]- Read the Rate data at Bank of Japan
- TEXT−BOJ statement on monetary policy, Jan 22 (Thomson Financial News)
US NAHB HOUSING MARKET INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 21 | 18:00 | NAHB Housing Market Index | 8 | 9 | 9 |
Morning Report - US NAHB housing market index slips from 9 to 8 in Jan by Westpac Institutional Bank
US NAHB housing market index slips from 9 to 8 in Jan. Yet another all−time record low for this measure of home−builder sentiment. The new housing market continues to be pummelled by the glut of recently constructed foreclosed properties.
[ Full Story ]- UPDATE 2−US Jan home builder sentiment sinks to a new low (Thomson Financial News)
- UPDATE 1−U.S. Jan home builder sentiment sinks to new low (Thomson Financial News)
- US Jan home builder sentiment sinks to a new low (Thomson Financial News)
Daily Global Commentary - Housing Market Update: January Housing Market Index by Northern Trust
Friday Notes - Builders fear ongoing contraction in demand by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 22 | 00:30 | AU | New Motor Vehicle Sales (MoM) (Dec) | 1.8% | -5.2% | |
| 00:30 | AU | New Motor Vehicle Sales (YoY) (Dec) | -15.7% | -17.8% | ||
| 03:00 | JP | BoJ Interest Rate Decision | 0.1% | 0.1% | 0.1% | |
| 08:46 | JP | BoJ Press Conference | ||||
| 09:00 | EMU | ECB Monthly Report (Jan) | ||||
| 10:00 | EMU | Industrial New Orders (YoY) (Nov) | -15.1% | |||
| 10:00 | EMU | Industrial New Orders s.a. (MoM) (Nov) | -5.0% | -4.7% | ||
| 10:00 | CH | ZEW Survey − Expectations (Jan) | -76.2 | |||
| 11:00 | UK | CBI Industrial Trends Survey − Orders (MoM) (Jan) | -35 | |||
| 13:30 | US | Building Permits (MoM) (Dec) | 0.61M | 0.62M | ||