Wednesday, Dec 05, 12:22 GMT
U.S. Trading Newsletter
To Get Started
- Brand new Futures Quotes & Charts available
- Special Webinar: Trade Non-Farm Payrolls Live with Wayne McDonell - Dec. 7
- Central Banks: ECB and BoE - Preview of Dec 6 meeting by FXstreet.com
- NEW Webinar Video: How to Get Started Trading Forex by Steve Primo
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Live Sessions Schedule
Main technical theme in the currency market
Expert: Jamie Saettele
Start: Wed, Dec 5, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Tracking the forex market together / Part II: Review
Expert: Dr.S.Sivaraman
Start: Wed, Dec 5, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Dec 5, 14:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN | |
| Wed, Dec 5, 15:00 GMT | Tracking the forex market together / Part II: Review | Dr.S.Sivaraman | WBN |  |
| Wed, Dec 5, 16:00 GMT | Covered Carry Trades  | S. Wade Hansen | WBN | |
| Wed, Dec 5, 17:00 GMT | How to trade fundamental news | Valeria Bednarik | WBN | |
Current Session: Europe − U.S.
GBP/USD
Forex Trading Strategies − US ISM Non−manufacturing data on tap today by Saxo Bank
GBPUSD is headed back to what looks like a very critical 55−day SMA (in red) and it would seem that a move below here and the rising trendline could have serious implications for further downside. Also note the head−and−shoulders like formation with the neckline around 2.0420. A 50−bp cut from the BOE tomorrow could seal the deal, though the market has only priced in high odds of a 25 bp cut so far.
- This is GBP, not carry madness 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
Daily technical research − Daily technical research by FX Instructor
Market Session Recaps − Asia Session by FOREX.com
Majors at a Glance
- EUR/USD
- Trades around pivot level 1.4721
12/05/2007 11:58 GMT - GBP/USD
- Trades around 2.0390 , below third support level 2.0431
12/05/2007 11:58 GMT - USD/CHF
- Continues to trade below pivot level 1.1214
12/05/2007 11:58 GMT - USD/JPY
- Moves down below first resistant level 110.40
12/05/2007 11:59 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, Aspen Trading Group, 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
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US ISM NON−MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Dec 5 | 15:00 | ISM Non−Manufacturing | 55.0 | 55.8 |
US economic indicators - Both ISM indices are likely to have weakened in November by BHF−Bank
In October, the ISM non−manufacturing index fully retraced its September decline, partly because the assessment in the construction sector had improved unexpectedly. However, given the deterioration in the residential home market, this is not likely to have been the case in November.
[ Full Story ]Forex Trading Strategies - US ISM Non−manufacturing data on tap today by Saxo Bank
Top Market Movers Review
EMU RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 5 | 10:00 | Retail Sales (YoY) | 0.2% | 1.2% | 1.6% |
| Dec 5 | 10:00 | Retail Sales (MoM) | -0.7% | -0.3% | 0.3% |
DATA SNAP: Euro−Zone Retail Sales Drop Sharply In Oct (Dow Jones)
Euro−zone retail sales fell sharply in October, with the index registering the biggest monthly decline in six months. The volume of retail sales fell 0.7% on the month in October and rose just 0.2% on the year, data released by European statistics agency Eurostat showed Wednesday.
[ Full Story ]- Read the report: Volume of retail trade down by 0.7% in euro area at Eurostat
- UPDATE: Euro−Zone Oct Retail Sales Drop Bad Sign For GDP (Dow Jones)
- Euro zone Oct retail sales down 0.7 pct from Sept, up 0.2 pct year−on−year (Thomson Financial News)
- EU Oct Retail Sales decrease 0.7% on the month; 0.2% up on the year (FXstreet.com)
UK PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 5 | 09:30 | Purchasing Manager Index Services | 51.9 | 52.9 | 53.1 |
UK Services PMI, weaker than expected in November (FXstreet.com)
Services sector activity has grown in November at a slower pace than it did in October in the United Kingdom, and somewhat slower than expected , according to the latest services PMI Index.
[ Full Story ]- Chartered Institute of Purchasing and Supply homepage
- NTC Economics homepage
- UPDATE: UK Services PMI Drop Points To BoE Interest Rate Cut (Dow Jones)
- UK Nov CIPS services PMI falls to 51.9, lowest since May 2003 − sources (Thomson Financial News)
- UK Nov Services PMI 51.9 Vs 53.1 In August − Sources (Dow Jones)
Friday Notes - Outlook 2008 – Gloom but no Doom by HVB Group
EMU PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 5 | 09:00 | Purchasing Manager Index Services | 54.1 | 53.7 | 55.8 |
Euro Zone's Services PMI slides in November (FXstreet.com)
Activity in the Euro Zones services sector has grown in November but at a slower pace than in the previous month, a trend that has been shared by the main countries like Italy or Germany.
[ Full Story ]- NTC Economics homepage
- Euro zone Nov final services PMI revised up to 54.1 from 53.7 − sources UPDATE (Thomson Financial News)
- Euro zone Nov final services PMI revised up to 54.1 from 53.7 − sources (Thomson Financial News)
- Euro−Zone Nov Services PMI 54.1 Vs 55.8 In Oct − Sources (Dow Jones)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 5 | 09:30 | UK | Purchasing Manager Index Services (Nov) | 51.9 | 52.9 | 53.1 |
| 10:00 | EMU | Retail Sales (MoM) (Oct) | -0.7% | -0.3% | 0.3% | |
| 10:00 | EMU | Retail Sales (YoY) (Oct) | 0.2% | 1.2% | 1.6% | |
| 10:30 | UK | BRC Shop Price Index (MoM) (Nov) | 0.5% | 0.5% | ||
| 10:30 | UK | BRC Shop Price Index (YoY) (Nov) | 1.1% | 1.1% | ||
| 12:00 | US | MBA Mortgage Applications (Nov 30) | 22.5% | -4.3% | ||
| 13:15 | US | ADP Employment Change (Nov) | 53K | 106 | ||
| 13:30 | US | Nonfarm Productivity (3Q) | 5.6% | 4.9% | ||
| 13:30 | US | Unit Labor Costs (3Q) | -1.0% | 1.4% | ||
| 15:00 | US | Factory Orders (Oct) | 0.0% | 0.2% | ||