Wednesday, Jan 03, 12:19 GMT
U.S. Trading Newsletter
To Get Started
- Follow Europe and US action live with Tony Juste's Daily Show
- Forex Forum: Post your comments and share your opinions with fellow traders
- Be up to date with the Latest Forex News
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SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 8th Edition
Expert: Wayne McDonell
Start: Fri, Jan 5, 13:00 GMT
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Type of Session: Webinar
Current Session: Europe - U.S.
GBP/USD
Currency Open positions - Two holiday weekends in a row have given the Currency Markets a bit of a breather by Odom & Frey Futures & Options
The cable is consolidating between support near 1.95 and resistance near 1.9715. Recent trading action within this range has been bullish and this is evident from two strong bounces off support. Use the established range to trade in and out of your positions, and watch for a major break to catch a big move.
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
- Insight on the fundamentals in the Fundamentals section at FXstreet.com
- What´s next on the agenda? Take a look at our Economic Events Calendar
- What's going on in the markets? Read our latest Forex news
Other Topics for this Session:
Daily Market Commentary - The dollar fell versus the European currencies by Global Forex Trading Ltd.
Wakeup Call on Forex Markets - Stocks and fixed income to go higher by Saxo Bank
Forex Daily Analysis - USD vulnerable ahead of ISM manufacturing and FOMC minutes by ForexYard
Majors at a Glance
- EUR/USD
- Continues to move up above 1.3250
1/2/2007 10:48:41 AM - GBP/USD
- Trades above 1.9700
1/2/2007 10:54:18 AM - USD/CHF
- Drops below 1.2150
1/2/2007 10:56:46 AM - USD/JPY
- Drops below 119.00
1/2/2007 10:58:36 AM
Charting the Market Movers
EUR USD, Hourly
EUR JPY, Hourly
Top Market Movers Preview
U.S. ISM Manufacturing
| Period | Consensus | Previous | Time |
| December | 50.0 | 49.5 % | 15:00 GMT |
Economic Release Alert - The German labor market is expected to improve once again in December by FXCM
Markets predict that tomorrow’s ISM Manufacturing report will show a slight improvement on November's result, with a reading of 50.0 reflecting exactly zero change in the sector. Though this will be far from bullish for US industry, two consecutive drops in the headline ISM Manufacturing has many US economic bulls hoping for a mere bottoming out in the significant figure.
[ Full Story ]USA Construction Spending
| Period | Previous | Consensus | Time |
| November | -0.1% | 0.5% | 15:00 GMT |
Daily Market Overview - Recovering after holidays by Trader College
We have Construction Spending for November: This report rarely has any market impact as the monthly changes are volatile and subject to huge revisions. However, as is one part of quarterly GDP, could give a first clue to that more interesting report.
Top Market Movers Review
UK CIPS PMI Construction
| Period | Previous | Consensus | Actual |
| December | 54.8 | 54.5 | 57.5 |
UK Dec construction sector PMI rises to 57.5 vs 54.8 in Nov UPDATE by AFX News
UK construction sector growth accelerated at the end of the year, helped by a buoyant commercial sub-sector, the Chartered Institute of Purchasing and Supply said. The headline purchasing managers index reached 57.5 in December, its highest since October. In November, the index was at 54.8.
- Tony Juste, FX Advisot at FXstreet.com:
"The construction sector just positively surprises everyone with a much higher than anticiapted reading, but that again does not give any support to Cable, who falls some 70 on the news. It is pretty interesting to see that the constrcution sector could still be the key factor to inflation as it seems to be in a healthy tone, and it could keep the BoE on alert to possible spikes in prices. " - FXstreet.com
German Unemployment Change
| Period | Previous | Consensus | Actual |
| December | -86K | -50K | -108K |
German Dec adj jobless down 108,000 vs Nov; beats forecasts - sources by AFX News
The number of jobless people in Germany in December fell a seasonally adjusted 108,000 compared with November, sources close to the Labour Office said. The decline was much greater than forecast. Economists polled by AFX News had expected a drop of 50,000. In west Germany, the number of jobless dropped by 74,000 while in the east, it fell by 34,000.
- Tony Juste, FX Advisot at FXstreet.com:
"The unemployment figures show that the albour market in Germany reamins strong despite what the Euro threat may represent to the motor of the Eurozone economy. Figures look quite impressive and for the first time in months we see the rate below 10%, a pshychological level politicians wnat to be under. Poor market reaction to the news, as Euro drops on it, lacking any follow-trhough to yesterday's gains. " - FXstreet.com