Wednesday, Jan 23, 12:06 GMT
U.S. Trading Newsletter
To Get Started
- Webinars VIDEOS: Weekly Technical Briefing by Dan Blystone
- The Forex Journal: 14 Top Experts Analysing the Forex Market
- Questions about Forex trading? FXWizard has the answers
- MONTHLY WEBINAR with Rob Booker on Thursday 24th
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FEATURED SPECIAL COVERAGE − Central Banks: Fed
Emergency 75bp rate cut by FXstreet.com
Only seen before after 9/11, the Fed takes a huge step in lowering interest rates and cuts 75bp in an emergency move, lowering its interest rate to 3.5%.
Live Sessions Schedule
Main Fundamental theme in the Currency market
Expert: Boris Schlossberg
Start: Wed, Jan 23, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Commodity Currencies In 2008
Expert: Joseph Trevisani
Start: Wed, Jan 23, 17:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jan 23, 13:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Jan 23, 14:00 GMT | Main Fundamental theme in the Currency market | Boris Schlossberg | WBN | |
| Wed, Jan 23, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Wed, Jan 23, 15:00 GMT | Using CCI and Stochastics For Long and Short Term Forex Trading | Sam Seiden | WBN | |
Current Session: Europe − U.S.
GBP/USD
Daily Forex News − Emergency Fed cut slashed Dollar against major currencies by ACM − Advanced Currency Markets
GbpUsd remains weak having dropped yesterday down to 1.9337 before recovering up to 1.9604. Further downtrend pressure might open the door toward 1.9105 (50% retracement of 1.7049 – 2.1162 advance). Longs will only lock within a return over 1.9800 short term Trendline and 2.0000 key level ahead 2.0100 resistance. Initial supports hold 1.9483 11th January low and 1.9337 yesterday low.
- Webinars Video − Strategies for Long Term Profits in the Forex by by John Jagerson, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
This week forex market expected trend − Week 21 − 25 Jan 2008 by i−knowindices.com
Daily Analysis − Fed Cut Rates By 0.75 Basis Point In an Emergency Meeting by Finotec Group Inc.
Majors at a Glance
- EUR/USD
- Moves down below opening price level 1.4630 , above pivot level 1.4546
01/23/2008 09:56 GMT - GBP/USD
- Trades above pivot level 1.9525
01/23/2008 09:56 GMT - USD/CHF
- Moves up above opening price level 1.0947 , below pivot level 1.1006
01/23/2008 09:56 GMT - USD/JPY
- Back above opening price level 106.43 , above pivot level 106.36
01/23/2008 09:56 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
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
New Zealand RBNZ INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Jan 23 | 20:00 | RBNZ Interest Rate Decision | 8.25% | 8.25% |
Weekly Commentary - Waiting on events by Westpac Institutional Bank
The decision on January 24 seems a foregone conclusion – there will be no change in the OCR. All attention will be on the tone of the few paragraphs that Dr Bollard and team pens. There is plenty to talk about.
[ Full Story ]Weekly Review and Outlook − Euro Sentiments Reversed, Yen Sharply Higher; BOJ, BOC, RBNZ to Meet by ActionForex.com
Top Market Movers Review
UK GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 23 | 09:30 | Gross Domestic Product (QoQ) | 0.6% | 0.5% | 0.7% |
| Jan 23 | 09:30 | Gross Domestic Product (YoY) | 2.9% | 2.8% | 3.3% |
UK Q4 GDP up quarterly 0.6 pct, lowest since Q3 2006 (Thomson Financial News)
The UK economy grew at its slowest rate for more than a year during the fourth quarter, as the credit crunch weighed on growth in the business and financial services sector.
[ Full Story ]- Read the GDP Growth data at National Statistics
- UPDATE: British Quarterly GDP Up 2.9% On Active Telecoms, Transport (Dow Jones)
- UPDATE: UK Growth Holds Up In 4Q; +0.6% On Quarter (Dow Jones)
- United Kingdom preliminary Gross Domestic Product falls increases 0.6% in 4Q; 2.9% up on the year (FXstreet.com)
UK BANK OF ENGLAND MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 23 | 09:30 | Bank of England Minutes | - | - | - |
BoE Minutes: The Monetary Policy Committee approved by 8 to 1 keeping rates on hold (FXstreet.com)
The Bank of England's Monetary Policy Committee approved by 8 votes against one to keep Bank ate unchanged at 5.5% in the meeting held on the 6 and 7 of January, David Blanchflower voted against, preferring a 25 basis points rate cut, according to the Bank's minutes.
[ Full Story ]- Read the MPC Minutes at BoE
- UPDATE: Bank Of England Voted 8−1 To Hold Rates; Inflation Fears Remain (Dow Jones)
- Forex − Pound rises against euro on hawkish BoE minutes (Thomson Financial News)
- BoE MPC voted 8−1 to keep Bank Rate at 5.50 pct on mounting inflation fears (Thomson Financial News)
EMU ECB'S TRICHET SPEAKS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 23 | 08:00 | ECB's Trichet Speaks | - | - | - |
ECB's Trichet assesses positively banking integration (FXstreet.com)
Jean Claude Trichet, President of the European Cebtral Bank has estimated positively the integration of the European Central Banks, which, is showing signs of rapid progress, as he stated in a conference at the European Parliament's Economic and Monetary Affairs Committee.
[ Full Story ]- Read full Jean−Claude Trichet Speech at ECB
- ECB's Trichet sees downside risk for EU economy, no plans to change outlook (Thomson Financial News)
- UPDATE: ECB Trichet: Central Banks Must Anchor CPI Expectations (Dow Jones)
- Trichet says markets going through 'very significant' correction (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 23 | 09:30 | UK | Bank of England Minutes | |||
| 09:30 | UK | Gross Domestic Product (QoQ) (4Q)  | 0.6% | 0.5% | 0.7% | |
| 09:30 | UK | Gross Domestic Product (YoY) (4Q) | 2.9% | 2.8% | 3.3% | |
| 09:30 | UK | Index of Services | 0.6% | 0.7% | ||
| 10:00 | EMU | Industrial New Orders (YoY) (Nov) | 11.9% | 9.0% | 10.9% | |
| 10:00 | EMU | Industrial New Orders s.a. (MoM) (Nov) | 2.7% | 1.2% | 2.5% | |
| 13:30 | CA | Leading Indicators (MoM) (Dec) | 0% | 0% | ||
| 20:00 | NZ | RBNZ Interest Rate Decision | 8.25% | 8.25% | ||
| 23:00 | NZ | ANZ− Business NZ PMI (Dec) | 57.2 | |||
| 23:50 | JP | Adjusted Merchandise Trade Balance (Dec) | ¥663.3B | ¥890.8B | ||