Thursday, Jan 29, 08:32 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Forex Trading Today: The Queen is Saved!!!… Or is She? by Tim Salem
Our friends at the FOMC did not meet us at the door with a bottle of 1951 Chateau Lafite Rothschild... more like a bottle of Ripple from Apu at the corner Kwik−E−Mart! We did receive typical rhetoric out of the Monetary Policy announcement full of downside risk and weakness across the board... and again with classic "Counter−Intuitive" behavior... the Dollar sailed.
FX Market Readings: Today’s expected moves in EURO and GBP by Dr.S. Sivaraman
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Live Sessions Schedule
Forex Market Forecast for the Year 2009
Expert: Dr.S.Sivaraman
Start: Thu, Jan 29, 11:00 GMT
Type of Session: Webinar
Central Bank Review
Expert: Adam Rosen
Start: Thu, Jan 29, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jan 29, 10:00 GMT | Trade Development  | Sam Seiden | WBN |  |
| Thu, Jan 29, 11:00 GMT | Forex Market Forecast for the Year 2009 | Dr.S.Sivaraman | WBN | |
| Thu, Jan 29, 12:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Thu, Jan 29, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
Current Session: Europe
The Euro has topped at 1.3328 on yesterday
E−Forex − The Euro has topped at 1.3328 on yesterday and pulled towards daily support at 1.3080. The short−term momentum remains bullish despite current decline but downside pressure is high and a break past resistance into the 1.3150 region is needed to resume uptrend. On the lower side, support emerges at 1.3000 backed by 1.2960 and 1.2860. Below 1.2960 confirms the resume of the downtrend. Hourly sentiment is bearish at the time of this writing.
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Short Term Analysis − USDCHF rebound from 1.1313 by ForexCycle.com
Being supported by the lower border of the price channel on 4−hour chart, USDCHF rebound from 1.1313. further rise to test 1.1714 is possible.
Daily Technical Analysis − Trade the range between 89.75 and 91.25. by Mizuho Corporate Bank
Rallying to the lower edge of a very large Ichimoku ‘cloud' and the 26−day moving average and likely to hold below here today, consolidating at these slightly higher levels.
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
Germany UNEMPLOYMENT RATE S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Jan 29 | 08:55 | Unemployment Change | 30K | 18K |
| Jan 29 | 08:55 | Unemployment Rate s.a. | 7.7% | 7.6% |
EMU economic indicators - German adjusted unemployment (January): sharp rise due to recession and cold weather by BHF−Bank
The ifo business climate for Germany will probably have deteriorated in January, even if business expectations for the next six months have improved. The German ZEW economic sentiment has gone up, but the US ISM manufacturing index has deteriorated. The German yield spread has improved, but only because short−term interest rates have decreased more than long−term rates. Moreover, the DAX has been fluctuating at low levels. In the first half of December, the euro appreciated more than it depreciated thereafter.
[ Full Story ]Top Market Movers Review
UK NATIONWIDE HOUSING PRICES S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 29 | 07:00 | Nationwide Housing Prices s.a (MoM) | -1.3% | - | -2.5% |
| Jan 29 | 07:00 | Nationwide Housing Prices n.s.a (YoY) | -16.7% | - | -15.9% |
DATA SNAP: Nationwide: UK Jan House Prices Post Record Drop (Dow Jones)
U.K. house prices posted their biggest annual drop on record in January and are unlikely to stabilize until mortgage approvals recover significantly from current levels, the Nationwide Building Society said Thursday.
[ Full Story ]- Read the HPI data at Nationwide
- UK Nationwide housing prices plunge in January (FXstreet.com)
- UK Jan house prices fall 16.6 pct y/y − Nationwide (Thomson Financial News)
- United Kingdom Nationwide Housing Prices s.a decline 1.3% in Jan; 16.7% down year on year (FXstreet.com)
Japan RETAIL TRADE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 28 | 23:50 | Retail Trade (YoY) | -2.7% | -1.6% | -0.9% |
Japan Dec Overall Retail Sales −2.7% On Year (Dow Jones)
Japanese retail sales fell 2.7% in December from a year earlier, the fourth straight month of decline, the government said Thursday. The continuing contraction in consumer spending, which accounts for roughly 55% of the country's gross domestic product, comes as companies cut payrolls and production to weather the country's deepening recession.
[ Full Story ]- Read the Retail data at METI
- UPDATE 1−Japan retail sales post biggest drop in 4 yrs (Thomson Financial News)
- Japan December retail sales down 2.7 pct yr/yr (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 29 | 02:00 | NZ | M3 Money Supply (YoY) (Nov) | 6.3% | 9.4% | |
| 07:00 | DE | ILO Unemployment Rate (Dec) | 7.2% | 7.2% | 7.1% | |
| 07:00 | UK | Nationwide Housing Prices n.s.a (YoY) (Jan) | -16.7% | -15.9% | ||
| 07:00 | UK | Nationwide Housing Prices s.a (MoM) (Jan) | -1.3% | -2.5% | ||
| 08:55 | DE | Unemployment Change (Jan) | 30K | 18K | ||
| 08:55 | DE | Unemployment Rate s.a. (Jan) | 7.7% | 7.6% | ||
| 09:00 | EMU | M3 (YoY) (Dec) | 7.6% | 7.8% | ||
| 10:00 | EMU | Consumer Confidence (Jan) | -31 | -30 | ||
| 10:00 | EMU | Economic Confidence (Jan) | 65.4 | 67.1 | ||
| 10:00 | EMU | Industrial Confidence (Jan) | -36 | -33 | ||