Friday, Aug 22, 11:06 GMT
U.S. Trading Newsletter
Forex Blogs
Recommended Readings
FX Market Readings: Week end Expected moves... by Dr. S. Sivaraman
Week end moves are mostly known to be highly volatile.The big players are expected to make dip during Japanese session close and then firm up during European session start.
Chartology: Capitalizing on a Stopped Out Swing Trade by Raghee Horner
FX Path: USD/JPY Update by James Chen
Live Sessions Schedule
Understand & Use Fibonacci Ratio's Effectively
Expert: Sunil Mangwani
Start: Mon, Aug 25, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Aug 25, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Aug 25, 10:00 GMT | Understand & Use Fibonacci Ratio's Effectively | Sunil Mangwani | WBN | |
| Mon, Aug 25, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Aug 25, 15:15 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN |  |
| Mon, Aug 25, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: Europe − U.S.
GBP/USD
Daily Trading Forecast − Dollar Starts Downward Correction Phase by Swiss e Trade AG
The break of the 1.8700 level on the upside yesterday comes as a first sign of further upward correction, although cable quickly receded into the old trading range in European morning trading. Currently trading at the 1.8600 support level, we expect its strength to return in today's trading, again up through 1.8700.
- Gbp/Usd and Usd/Jpy for today by Valeria Bednarik, Analyst at MolFX − Management
- Forex Swing Trading, Low Risk / High Reward Trading In The Largest by Sam Seiden, Stocks, Futures, Forex and Options Trader Online Trading Academy
- Institutional Trading Strategies by John Jagerson, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Daily Forex News − Forex − Investors hunt Yen and Swiss Franc on renewed US Financial worries by ACM − Advanced Currency Markets
Bank's Report
Forex Trading Strategies − Asian stock losses not enough to deter yen funded carries by Saxo Bank
Strategy Report
Forex Analysis on Majors − forex forecast on eur / usd / gbp / chf / jpy by Forex Ltd
Currency Performance Report
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
Majors at a Glance
- EUR/USD
- Moves down below pivot level 1.4844
08/22/2008 10:05 GMT - GBP/USD
- Drops towards second support level 1.8540
08/22/2008 10:05 GMT - USD/CHF
- Moves up above pivot level 1.0900
08/22/2008 10:05 GMT - USD/JPY
- Trades above pivot level 108.81
08/22/2008 10:05 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
US FED'S BERNANKE SPEECH
| Date (GMT) | Event | Cons. | Previous | |
| Aug 22 | 14:00 | Fed's Bernanke Speech | - | - |
Daily Market Briefing - Fed's Bernanke Speaks on Friday by FXCM
Additional event risk looms on Friday at 10:00 EDT, when Federal Reserve Chairman Ben Bernanke will speak on financial stability at the Kansas City Fed's annual symposium in Jackson Hole, WY.
[ Full Story ]- Swiss franc moves lower ahead of Bernanke speech (Thomson Financial News)
Daily Forex Technical Report − Dollar Soft, Focus on Bernanke by ActionForex.com
Asia Market Update - USD gains ground ahead of Bernanke speech by TradeTheNews.com
Top Market Movers Review
EMU INDUSTRIAL NEW ORDERS S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 22 | 09:00 | Industrial New Orders s.a. (MoM) | -0.3% | -1.1% | -3.5% |
| Aug 22 | 09:00 | Industrial New Orders (YoY) | -7.4% | -6.1% | -4.4% |
DATA SNAP: Euro−Zone June Indus Orders Fall Sharply On Year (Dow Jones)
Factory orders in the euro zone fell at the fastest rate since December 2001 in June, pulled down by steep drops in orders for transport equipment and textiles.
[ Full Story ]- Read the Industrial Production data at Eurostat
- Euro zone June industrial orders down 0.3 pct vs May; down 7.4 pct yr−on−yr (Thomson Financial News)
- EU Jun Industrial New Orders (MoM) −0.3%; −7.4% (YoY) (FXstreet.com)
EMU economic indicators - EMU industrial new orders are expected to have continued decreasing in June by BHF−Bank
UK GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 22 | 08:30 | Gross Domestic Product (QoQ) | 0.0% | 0.1% | 0.2% |
| Aug 22 | 08:30 | Gross Domestic Product (YoY) | 1.4% | 1.5% | 1.6% |
Trading News Report - Will Downward Revisions to GDP Spur Bearish Sentiment for the Pound? by FXCM
The preliminary release for U.K. GDP is expected to be revised lower to 1.5% from the first estimates of 1.6% as downside growth risks heighten.
[ Full Story ]- UPDATE: UK 2Q GDP Flat On Quarter; Weakest Since 1992 (Dow Jones)
- UPDATE 1−UK economy grinds to halt in Q2, weakest since 1992 (Thomson Financial News)
- TABLE−UK Q2 GDP revised down to show no q/q growth (Thomson Financial News)
EMU CURRENT ACCOUNT S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Aug 22 | 08:00 | Current Account n.s.a | -1.0B | - | -21.4B |
| Aug 22 | 08:00 | Current Account s.a | -8.2B | - | -5.5B |
DATA SNAP: Euro−Zone Current Account Deficit Widened In June (Dow Jones)
The euro zone's current account deficit widened in June as imports rose and income from overseas investments fell. Figures released by the ECB Friday showed the current account was in deficit by EUR8.2 billion, more than the EUR5.5 billion in May.
[ Full Story ]- Read the Current Account data at ECB
- UPDATE: Euro−Zone Current Account Deficit Widened In June (Dow Jones)
- EU Current Account decreases to −8.2B in Jul from a revised −5.5B (FXstreet.com)
EMU economic indicators - The EMU trade balance and current account are likely to have recovered by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Aug 22 | 08:00 | EMU | Current Account n.s.a (Jul) | -1.0B | -21.4B | |
| 08:00 | EMU | Current Account s.a (Jul) | -8.2B | -5.5B |
||
| 08:30 | UK | Gross Domestic Product (QoQ) (2Q) | 0.0% | 0.1% | 0.2% | |
| 08:30 | UK | Gross Domestic Product (YoY) (2Q) | 1.4% | 1.5% | 1.6% | |
| 09:00 | EMU | Industrial New Orders (YoY) (Jun) | -7.4% | -6.1% | -4.4% | |
| 09:00 | EMU | Industrial New Orders s.a. (MoM) (Jun) | -0.3% | -1.1% | -3.5% | |
| 14:00 | US | Fed's Bernanke Speech | ||||
| Aug 24 | 22:45 | NZ | Food Price Index (MoM) (Jul) | 1.3% | ||
| Aug 25 | 14:00 | US | Existing Home Sales (Jul) | 4.86M | ||
| 14:00 | US | Existing Home Sales (MoM) (Jul) | -2.6% | |||