Thursday, Nov 01, 12:07 GMT
U.S. Trading Newsletter
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- Long-term Forex Perspectives: Our new blog by John Jagerson and S. Wade Hansen
- Fed - 31st October Meeting Review by FXstreet.com
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Live Sessions Schedule
Technical Analysis Q&A
Expert: Tony Juste
Start: Thu, Nov 1, 14:00 GMT
Type of Session: Webinar
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 18th Edition
Expert: Wayne McDonell
Start: Fri, Nov 2, 12:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Nov 1, 14:00 GMT | Technical Analysis Q&A  | Tony Juste | WBN |  |
| Thu, Nov 1, 15:00 GMT | How to Get Started Trading Forex | Steve Primo | WBN | |
| Thu, Nov 1, 17:00 GMT | The numbers method: making entry points easy for you | Flávio Lemos | WBN | |
| Fri, Nov 2, 12:00 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 18th Edition | Wayne McDonell | WBN | |
Current Session: Europe − U.S.
EUR/USD
Daily technical research − Cable broke decisively through resistance by FX Instructor
Cable broke decisively through the resistance formed by the July 24th high at 2.0650 and even got above 2.0800 after the FOMC rate cut yesterday but is now trading just a few points lower. The pair's bullish bias prevails and a lot of traders in the market start looking at 2.1000 as the next major long target.
- 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:
Forex Technical Report − Forex Technical Report GBP/USD by iFOREX.bg
EUR/JPY Daily Technical Forex − EUR/JPY Daily Technical Forex by Stoploss.ch
USD/JPY Daily Technical Forex − USD/JPY Daily Technical Forex by Stoploss.ch
Majors at a Glance
- EUR/USD
- Moves down below first support level 1.4430
11/01/2007 10:02 GMT - GBP/USD
- Moves down below pivot level 2.0769
11/01/2007 10:02 GMT - USD/CHF
- Moves up above first resistant level 1.1623
11/01/2007 10:03 GMT - USD/JPY
- Continues to move up above first resistant level 115.64
11/01/2007 10:03 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 CORE PERSONAL CONSUMPTION EXPENDITURE
| Date (GMT) | Event | Cons. | Previous | |
| Nov 1 | 12:30 | Core Personal Consumption Expenditure (MoM) | 0.2% | 0.1% |
| Nov 1 | 12:30 | Core Personal Consumption Expenditure (YoY) | 1.8% | 1.8% |
Friday Notes - Fed: The first cut was the deepest by HVB Group
The CPI was up modestly in September and that will probably be echoed in a tame report on the core PCE price index, the Fed's preferred inflation measure.
[ Full Story ]Top Market Movers Review
UK CBI DISTRIBUTIVE TRADES SURVEY − REALIZED
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 1 | 11:00 | CBI Distributive Trades Survey − Realized (MoM) | 10 | - | 12 |
UK CBI retail survey drops to +10 in October, weakest reading in 11 months (FXstreet.com)
Retail sales have decreased in the United Kingdom for the second consecutive month in October, as the CBI distributive trades survey has posted the weakest reading since November 2006, in a sign that the effects of the interest rate hikes are starting to affect retail trade.
[ Full Story ]- Distributive Trade Survey by The Confederation of British Industry
- UK Oct reported retail sales balance +10 pct, lowest since Nov 2006 − CBI (Thomson Financial News)
- DATA SNAP: UK CBI October Retail Sales Volume +10 Vs Sep +12 (Dow Jones)
UK PMI MANUFACTURING INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 1 | 09:30 | PMI Manufacturing Index | 52.9 | 54.5 | 54.7 |
UK Manufacturing PMI decreases to 52.9 in October from 54.7 in September (FXstreet.com)
Manufacturing activity has slowed down its growing pace in October, compared to September, according to the Manufacturing Purchasing Manager's Index survey. October's Manufacturing PMI has decreased to a 52.9 level from 54.7 in September, revised down from the 55.1 initial estimation.
[ Full Story ]- UPDATE: UK Oct Mfg PMI Slump Not Enough For Nov MPC Rate Cut (Dow Jones)
- Forex − Pound drops on weak manufacturing survey (Thomson Financial News)
- UK CIPS Oct manufacturing PMI falls to 52.9, lowest since Dec 2006 − sources (Thomson Financial News)
US FED INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 31 | 18:15 | Fed Interest Rate Decision | 4.50% | 4.50% | 4.75% |
Fed cuts key funds rate to 4.5 pct as expected (Thomson Financial News)
For the second time in as many meetings, the Federal Reserve cut a key interest rate to ensure against a possible slowdown in the economy.
The Fed's policymaking Federal Open Market Committee lowered its most important federal funds rate target to 4.5 pct.
- Read the FOMC Statement at the Federal Reserve
- Dollar slumps as Fed announces rate cut (Thomson Financial News)
- Wachovia cuts prime rate (Thomson Financial News)
- EUR/USD hit a record high at 1.4505 after the Fed Cut by 25bps (FXstreet.com)
Daily Fx Strategy - Fed's Hawkish Cut Extends Dollar Damage by CMC Markets
Today's Top Momentum Movers - Dollar Falls on Rate Cut by TheFXMarkets.com
Central Banks: Fed - 31st October Meeting Preview by FXstreet.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 1 | 00:30 | AU | Retail Sales (MoM) (Sep) | 0.8% | 0.5% | 0.7% |
| 00:30 | AU | Trade Balance (Sep) | -1862M | -1000M | -1610M | |
| 05:30 | AU | RBA Commodity Index SDR (YoY) | 6.0% | 5.4% | ||
| 08:30 | CH | SVME − Purchasing Managers' Index (Oct) | 60.7 | 58.0 | 57.6 | |
| 09:30 | UK | PMI Manufacturing Index (Oct) | 52.9 | 54.5 | 54.7 |
|
| 11:00 | UK | CBI Distributive Trades Survey − Realized (MoM) | 10 | 12 | ||
| 12:30 | US | Core Personal Consumption Expenditure (MoM) (Sep) | 0.2% | 0.1% | ||
| 12:30 | US | Core Personal Consumption Expenditure (YoY) (Sep) | 1.8% | 1.8% | ||
| 12:30 | US | Initial Jobless Claims (Oct 27) | 330K | 331K | ||
| 12:30 | US | Personal Income (Sep) | 0.4% | 0.3% | ||