Thursday, Feb 19, 08:56 GMT
EUROPEAN Trading Newsletter
To Get Started
- GBP/USD: The Pound bounced up from 1.4135; attempting to break 1.4320 Read all the News about currencies by FXstreet.com
- Webinar Videos: Professional Gaps vs Novice Gaps in the Forex Markets by Sam Seiden
- All the events of the day in our Economic Calendar
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Forex Blogs
The Day Job Trader: EUR/USD Breakout Play & USD/JPY Thoughts by Ryan O'Keefe
Following the EUR/USD break out on Monday I'm looking for an excuse to sell this pair along previous support levels. Nothing fancy here, just looking for a support / resistance opportunity on the 4 hour.
Forex Trading Today: USD/CAD Breaks Weekly Triangle... Major Correction Needed? by Tim Salem
Find other felow traders to share your comments and market view in the FOREX CHAT
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Live Sessions Schedule
MONTHLY WEBINAR: Part 1 − My Favorite Patterns To Trade
Expert: Derek Frey
Start: Thu, Feb 19, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Feb 18, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
| Thu, Feb 19, 14:00 GMT | MONTHLY WEBINAR: Part 1 − My Favorite Patterns To Trade | Derek Frey | WBN |  |
| Thu, Feb 19, 16:00 GMT | MONTHLY WEBINAR: Part 2 − Real−Time Applications of My Favorite Patterns  | Derek Frey | WBN | |
| Fri, Feb 20, 08:30 GMT | Outlook for the major currencies this week | Ian Copsey | WBN | |
Current Session: Europe
USD/JPY: Yen falls to six week low against the dollar
FXstreet.com − The USD/JPY has continued rallying during Thursday's Asia trading time, reaching a maximum level of 93.95; up from around 92.10 at the session opening. USD/JPY has been going through a strongly bullish trend since having hit 89.80 in Feb 12.
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Daily Recommended Trades − Support at 1.2540/50 is intact by E−Forex
Support at 1.2540/50 is intact as the Euro managed to hold above it on yesterday but downside pressure remains high and a resume of the downtrend could accelerate losses below 1.2550, to 1.2400/20.
Trading News Report − GBP/USD: Trading the U.K. Retail Sales Report by FXCM
with our expectations at hand, we will look for a green, five−minute candle following a rise in retail sales to confirm a buy entry on two lots of GBPUSD. Once these conditions are met, we will place our initial stop at the nearby swing low.
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
US PRODUCER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Feb 19 | 13:30 | Producer Price Index (MoM) | - | -1.9% |
US economic indicators - Producer prices might have increased slightly by 0.3% mom by BHF−Bank
Although oil prices were lower on average, gasoline prices started to rise at the beginning of this year. The ISM price component was also noticeably higher, after having fallen to the lowest level since 1949. Therefore producer prices might have increased slightly by 0.3% mom, after their significant decline by almost 7% in the previous three months. Core PPI could have risen by a mere 0.1% mom, reducing the still relatively elevated annual rate to 3.8%.
[ Full Story ]Top Market Movers Review
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 19 | 03:00 | BoJ Interest Rate Decision | 0.1% | 0.1% | 0.1% |
BoJ preview: Unconventional easing to be stepped up by Danske Bank A/S
The Bank of Japan (BoJ) has today started its two−day monetary meeting and will announce its interest rate decision early tomorrow morning. Despite the recent dismal economic indicators, we expect BoJ to leave its leading O/N target rate unchanged at 0.1%.
[ Full Story ]- Read the Rate data at Bank of Japan
- Japan Outlook:BOJ Policy Board Mtg Ends,Bridgestone Earnings (Dow Jones)
Daily Market Briefing - Japanese Yen Down as Carry Trade Gain, Threat of Risk Aversion Lingers Ahead of BOJ Rate Decision by FXCM
US FOMC MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Feb 18 | 19:00 | FOMC Minutes | - | - | - |
Daily Global Commentary - Minutes of January FOMC Meeting – Implicit Inflation Target Included by Northern Trust
The FOMC is more bearish about the economy, as shown in table 1, compared with the forecast published in October 2008. The U.S. economy is predicted to contract in 2009 (−1.3% to −0.5%) on a Q4−to−Q4 basis. The unemployment rate is predicted to advance higher than previously predicted and the inflation is expected to hold below the level seen in the October forecast.
[ Full Story ]- Wednesday's News Recap: FOMC Mulls Buying Tsys, Housing Starts at 50−Yr Low (CEP News)
- U.S. Preview: Bond Markets to Watch FOMC Minutes for Hints at Treasury Purchases (CEP News)
Market Opinion - Fed lowers 2009 outlook. by ForexAmericas
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Feb 19 | 00:30 | AU | New Motor Vehicle Sales (MoM) (Jan) | -1.1% | 1.7% |
|
| 00:30 | AU | New Motor Vehicle Sales (YoY) (Jan) | -16.9% | -15.7% | ||
| 03:00 | JP | BoJ Interest Rate Decision | 0.1% | 0.1% | 0.1% | |
| 07:15 | CH | Trade Balance (Jan) | 2.03B | 0.62 | 0.00B |
|
| 09:30 | UK | M4 Money Supply (MoM) (Jan)  | 1.4% | |||
| 09:30 | UK | M4 Money Supply (YoY) (Jan) | 16.6% | |||
| 09:30 | UK | M4 Sterling Lending (Jan) | £12.8 | |||
| 09:30 | UK | Public Sector Net Borrowing (Jan) | £14.9B | |||
| 10:00 | CH | ZEW Survey − Expectations (Feb) | -66.7 | |||
| 13:30 | US | Continuing Jobless Claims (Feb 7) | 4810K | |||