Wednesday, Oct 24, 11:16 GMT
U.S. Trading Newsletter
To Get Started
- Final countdown: 1 day to go for the ITC!!
- NEW Webinars Video - Access now Educational Sessions Recordings
- Forex Chat Room: Share your trading ideas and comments with fellow traders
- Long-term Forex Perspectives: Our new blog by John Jagerson and S. Wade Hansen
- Special Coverage - G7 Meeting Review by FXstreet.com
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The Brokers (re) Evolution: NFA Regulation
Dan Roth, CEO and President for the NFA: "The number of forex firms is not the issue for us" by FXstreet.com
"The purpose of the proposal is to improve customer protection. Acting as an off−exchange forex dealer involves greater risk than acting as an agent in on−exchange futures trading. The increase of minimum capital to at least $20 million will help ensure that forex firms can meet their obligations to their customers."
- The last minute of the story on the Special Coverage by FXstreet.com editors team
- Read the interviews with some of the main Forex Brokers' CEOs
Live Sessions Schedule
Main Fundamental theme in the Currency market
Expert: Boris Schlossberg
Start: Wed, Oct 24, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
G7 and Currency Market Outlook
Expert: Don Wilcox
Start: Wed, Oct 24, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Oct 24, 13:00 GMT | Main Fundamental theme in the Currency market | Boris Schlossberg | WBN | |
| Wed, Oct 24, 16:00 GMT | G7 and Currency Market Outlook | Don Wilcox | WBN |  |
| Wed, Oct 24, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
| Thu, Oct 25, 15:00 GMT | How to Get Started Trading Forex | Steve Primo | WBN | |
Current Session: Europe − U.S.
GBP/USD
Forex Technical Report − The British Pound continued its wide consolidation on a daily basis by iFOREX.bg
GBP/USD Open 2.0500 High 2.0518 Low 2.0312 Close 2.0505
The British Pound continued its wide consolidation on a daily basis, by getting back to 2.0510. Resistance is seen at 2.0545, followed by 2.0580 and 2.0623. Support is expected at 2.0433, followed by 2.0337 and 2.0265.
- Extreme OB/OS levels at this hour at Tony Juste's blog
- Long−term Forex Perspectives: Our new blog by John Jagerson and S. Wade Hansen
- New Webinars Video − Access now Educational Sessions Recordings
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
- Be up to date with the Latest Forex News
Other Topics for this Session:
Daily Analysis − The dollar slipped on Tuesday by Finotec Group Inc.
Preview Strategies for − Preview Strategies for US SESSION 24/10/2007 by AKforex
Weekly Update − The external pressure may lead traders to increase bets that China will give some ground by Union Bank of California
Majors at a Glance
- EUR/USD
- Continues to trade below pivot level 1.4237
10/24/2007 11:04 GMT - GBP/USD
- Trades below opening price level 2.0508 , above pivot level 2.0444
10/24/2007 11:05 GMT - USD/CHF
- Stays above pivot level 1.1739
10/24/2007 11:05 GMT - USD/JPY
- Trades around first support level 114.28
10/24/2007 11:06 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
US EXISTING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Oct 24 | 14:00 | Existing Home Sales | 5.25 | 5.50 |
| Oct 24 | 14:00 | Existing Home Sales (MoM) | -4.5% | -4.3% |
Daily Forex Technical Report − Markets Hesitate ahead of US Existing Home Sales by ActionForex.com
Further disappointment from today's housing data and tomorrow's new homes sales will solidify the expectation that Fed will cut rates again next week.
[ Full Story ]- Ahead of the Bell: Existing Home Sales (Thomson Financial News)
- Forex − Dollar weakens against yen ahead of existing home sales data (Thomson Financial News)
Daily Market Briefing - US Dollar Resumes Its Descent Ahead Of NAR Existing Home Sales by FXCM
Economics Weekly - US housing data and eurozone confidence surveys feature this week by Lloyds TSB Financial Markets
Top Market Movers Review
EMU PMI MANUFACTURING INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 24 | 08:00 | Purchasing Manager Index Services | 55.6 | 54.5 | 54.2 |
| Oct 24 | 08:00 | PMI Manufacturing Index | 51.5 | 52.9 | 53.2 |
Euro zone Oct manufacturing PMI falls to 54.5, lowest since Aug 2005 − sources (Thomson Financial News)
The strength of the euro and this summer's turmoil in the financial markets appears to be taking its toll on the euro zone's manufacturing economy, though the services sector appears to be holding its own, sources said of a closely−watched survey.
[ Full Story ]- NTC Economics homepage
- Euro Zone's manufacturing PMI declines in October (FXstreet.com)
- DATA SNAP: Euro−Zone Mfg PMI Softens Further In Oct−Sources (Dow Jones)
- EU Flash PMI Manufacturing Index declines to 51.5 in Oct from 53.2 in Sep (FXstreet.com)
Friday Notes - Strong Q3 GDP Growth – A False Dawn by HVB Group
EMU CURRENT ACCOUNT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 24 | 08:00 | Current Account | 3.8B | 2.0B | 3.8B |
DATA SNAP: Euro−Zone Aug Curr Acct +EUR3.8B Vs +EUR3.8B July (Dow Jones)
The euro zone's current account surplus was unchanged from July in August, as the surplus in goods and services were little changed from a month earlier. European Central Bank figures released Wednesday showed the current account recorded a EUR3.8 billion surplus.
[ Full Story ]- Read the Balance of Payments data at ECB
- Euro zone Aug current account surplus 3.8 bln eur, unchanged from July UPDATE (Thomson Financial News)
- Euro zone Aug current account surplus 3.8 bln eur, unchanged from July (Thomson Financial News)
- Euro Zone's current account surplus remains unchanged at 3.8B in August (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 23 | 23:50 | JP | Adjusted Merchandise Trade Balance (Sep) | ¥1034.300B | ¥916.300B | ¥1144.909B |
| Oct 24 | 01:30 | AU | Consumer Price Index (QoQ) (3Q) | 0.7% | 0.9% | 1.2% |
| 01:30 | AU | Consumer Price Index (YoY) (3Q) | 1.9% | 2.1% | 2.1% | |
| 08:00 | EMU | Current Account (Aug) | 3.8B | 2.0B | 3.8B |
|
| 08:00 | EMU | PMI Manufacturing Index (Oct)  | 51.5 | 52.9 | 53.2 | |
| 08:00 | EMU | Purchasing Manager Index Services (Oct) | 55.6 | 54.5 | 54.2 | |
| 14:00 | US | Existing Home Sales (Sep) | 5.25 | 5.50 | ||
| 14:00 | US | Existing Home Sales (MoM) (Sep) | -4.5% | -4.3% | ||
| 21:00 | NZ | RBNZ Interest Rate Decision | 8.25% | 8.25% | ||
| Oct 25 | 06:00 | DE | Import Price Index (MoM) (Sep) | 0.4% | -0.7% | |