Friday, Jan 30, 08:35 GMT
EUROPEAN Trading Newsletter
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- All the events of the day in our Economic Calendar
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Forex Blogs
The Trader's Edge: EUR/USD Preview by Ross Yamashita
As we are midway through the Asian session, let's get a preview of the EUR/USD. As we approach the European opening, we saw the Euro weaken across the board yesterday as a result of poor economic data. Technically speaking, we've have a support line that has popped up and would indicate a continued move down if broken (Level 1).
Forex Trading Today: A Currency Round-Up Party for January 2009... Bring Presents! by Tim Salem
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Live Sessions Schedule
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Fri, Jan 30, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
Watch Live Coverage of the US GDP
Expert: Jerry Furst
Start: Fri, Jan 30, 12:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Jan 30, 08:30 GMT | Outlook for the major currencies this week | Ian Copsey | WBN |  |
| Fri, Jan 30, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN |  |
| Fri, Jan 30, 11:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Fri, Jan 30, 12:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN | |
Current Session: Europe
Drop from 1.3330 puts pair currently back in channel off 1.4719
KBC Bank − Drop from 1.3330 puts pair currently back in channel off 1.4719 (see graph).
Support area at 1.2878/ .2861 (today's low?/ current week low + daily envelope bottom, ahead of 1.2828 (daily Stop And Reverse) and 1.2764/ .2734 (Jan 23 low/ daily Bollinger bottom), where pause favored.
Resistance at 1.3053/ .3073 (reaction high hourly/ daily Medium Term Moving Average↓), with next levels at 1.3121 (daily envelope top), ahead of 1.3179 (reaction high hourly)
1.3221 = daily Bollinger midline, which managed to hold on recent recovery attempts.
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Market Session Recaps − GBP/USD dropped with the stronger Dollar by FOREX.com
To end the week in Asia, traders scurried to the security of the so−called ''safe haven'' currencies of the US and Japan. GBP/USD dropped with the stronger Dollar, moving from near 1.4300 to just under 1.4200 before bouncing 50 to end the session.
Trading News Report − EUR/USD: Trading the U.S. Gross Domestic Product by FXCM
The advanced GDP reading for the U.S. is expected to show a 5.5% contraction in fourth quarter, which would be the biggest decline since 1982, and would certainly stoke increased selling pressures for the greenback as the world's largest economy faces its longest recession since the Great Depression.
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 CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Jan 30 | 10:00 | Consumer Price Index (YoY) | 1.4% | 1.6% |
EMU economic indicators - EMU inflation flash estimate (January): down further to 1.5% yoy by BHF−Bank
The Eurostat flash estimate is likely to show that euro area inflation has decreased further to 1.5% yoy in January. This would correspond with a monthly fall in HICP of 0.5 % in unadjusted terms. Inflation is expected to continue falling in the coming months. Slovakia joined the eurozone on 1 January 2009 and Eurostat will publish the updated country weights with the final HICP data for January.
[ Full Story ]Top Market Movers Review
UK GFK CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 30 | 00:01 | Gfk Consumer Confidence | -37 | -34 | -33 |
UK Jan GfK consumer morale hits lowest since July (Thomson Financial News)
British consumer confidence fell to its second lowest level on record in January as people fretted about the deepening recession and grew increasingly worried about their own finances, a survey showed on Friday. The GfK NOP index fell four points to −37. That was lower than at any point during the recessions of the early 1990s and 1980s and the weakest since the record low last July when oil prices were at record peaks and interest rates were much higher.
[ Full Story ]- Read the Confidence data at Gfk NOP
- TABLE−UK consumer morale at 6−mth low in Jan−GfK (Thomson Financial News)
Japan NATIONAL CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 29 | 23:30 | National Consumer Price Index (YoY) | 0.4% | 0.4% | 1.0% |
INSTANT VIEW−Japan core annual inflation falls to 0.2% (Thomson Financial News)
Japan's core annual inflation slowed to 0.2 percent in December due largely to a fall in oil and raw material prices, stoking fears of a return to deflation in the recession−stricken economy. Adding to the pain, the jobless rate rose to 4.4 percent in December and the availability of jobs sank to a five−year low, while household spending slid 4.6 percent from a year earlier.
[ Full Story ]- Read the CPI data at Statistics Bureau
- Japan Dec nationwide core annual inflation 0.2 pct (Thomson Financial News)
- Japan Dec Core CPI +0.2% On Year; Mkt Expected +0.3% (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 30 | 00:30 | AU | Private Sector Credit (YoY) (Dec) | 6.7 | 7.5 | 8.2 |
| 05:00 | JP | Annualized Housing Starts (Dec) | 1.001 | 0.954M | 0.954M | |
| 05:00 | JP | Construction Orders (YoY) (Dec) | -27.3% | -12.5% | ||
| 05:00 | JP | Housing Starts (YoY) (Dec) | -5.8% | -7.3% | 0.0% | |
| 09:30 | UK | Consumer Credit (Dec) | £0.80B | £0.75B | ||
| 09:30 | UK | M4 Money Supply (MoM) (Dec) | 1.2% | |||
| 09:30 | UK | M4 Sterling Lending (Dec) | £12.1B | |||
| 09:30 | UK | Mortgage Approvals (Dec) | 26K | 27K | ||
| 10:00 | EMU | Consumer Price Index (YoY) (Dec)  | 1.4% | 1.6% | ||
| 10:00 | EMU | Unemployment Rate (Dec) | 7.9% | 7.8% | ||