Tuesday, Sep 16, 11:27 GMT
U.S. Trading Newsletter
To Get Started
- Special Coverage - US Crisis rebounds: Merryll Lynch and Lehman Brothers enter the fray by FXstreet.com
- Webinar Videos: How long will this USD trend last? by Adam Rosen
- Exclusive report - Perceiving Forex Volatility through Descriptive Statistics − Part 1 by Mark Whistler
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Related Links
Forex Blogs
Ahead the Fed
The Trader's Edge: EUR/USD Trade Set−Up by Ross Yamashita
Greetings. We hope everyone enjoyed their weekend. For those of you that attended the Forex Trading Expo in Las Vegas, I hope you had a good time. Perhaps next year you will attend one of my seminars or group discussions at the expo. I know I will soon see all of you at an upcoming ITC from FX Street.
Trade Setups: Forex Video | Trading Tip | Staying out the market by Phil Newton
1st on Forex: Markets in Turmoil Ahead of FOMC Interest Rate Decision by Jerry Furst
Live Sessions Schedule
Tracking the forex market together / Part II
Expert: Dr.S.Sivaraman
Start: Tue, Sep 16, 13:00 GMT
Type of Session: Webinar
Live Coverage of FOMC US Interest Rate Announcement
Expert: Jerry Furst
Start: Tue, Sep 16, 17:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Sep 16, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Sep 16, 13:00 GMT | Tracking the forex market together / Part II | Dr.S.Sivaraman | WBN |  |
| Tue, Sep 16, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
| Tue, Sep 16, 15:00 GMT | Trading with Autochartist | Raghee Horner | WBN | |
Current Session: Europe − U.S.
USD/JPY
Daily Trading Forecast − Waiting For Today's FOMC by Swiss e Trade AG
With financial markets in turmoil again, it is surprising how the dollar more or less defended its level, especially in today's early European trading, which is caught in narrow trading ranges at the time of this writing. The market is waiting for today's release of the Fed's policy, which is expected to do everything to prevent a gummed−up credit market.
Only in later European morning trading did the dollar begin to show some strength, having tested the level around 103.60 on the downside. Currently trading at 104.50, we see this upmove limited at or around the 105.00 level, while 103.50 will be a good support today.
- Harmonics on Gold by Sunil Mangwani, CEO at FibForex123.
- Technical Analysis Bootcamp: The indicators you need to know and how to interpret them by Dan Blystone, Founder TradersLog.com
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Daily Forex News − Forex − Wallstreet Meltdown is now ubiquitous and widespread by ACM − Advanced Currency Markets
Currency Technical Report − Currency Technical Report by FXGreece
Daily FX Report − Yesterday the Crude Oil fell more than 7 % and today more than 4 % by Varengold Wertpapierhandelsbank AG
Forex Technical Report − EURUSD Bullish Short Term Bias by ForexHound.com
Forex Analysts' Blog
EURO and GBP are expected to make a quick drop and then rise for the day by Dr. S. Sivaraman, of i−knowindices.com
Currency Performance
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
Majors at a Glance
- EUR/USD
- Moves down below pivot level 1.4270
09/16/2008 10:05 GMT - GBP/USD
- Moves down towards first support level 1.7800
09/16/2008 10:05 GMT - USD/CHF
- Trades below pivot level 1.1163
09/16/2008 10:06 GMT - USD/JPY
- Moves up back around opening price level 104.65 , below pivot level 105.36
09/16/2008 10:06 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, GFT (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 CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Sep 16 | 12:30 | Consumer Price Index Ex Food & Energy (YoY) | 2.6% | 2.5% |
| Sep 16 | 12:30 | Consumer Price Index (YoY) | 5.5% | 5.6% |
| Sep 16 | 12:30 | Consumer Price Index Ex Food & Energy (MoM) | 0.2% | 0.3% |
| Sep 16 | 12:30 | Consumer Price Index (MoM) | 0.0% | 0.8% |
US economic indicators - We expect CPI to have fallen by about 0.5% mom in August by BHF−Bank
CPI reached a peak of 5.6% yoy in July, mainly due to energy and food prices. However, in the course of July energy prices began to fall noticeably. For example, average gasoline prices were down by 6.0% in August. As gasoline prices usually decline during that time of the year, the seasonal adjustment will factor in about half of that decrease. But as more commodity prices and car prices went down, food prices were tame and consumer spending weak, we expect CPI to have fallen by about 0.5% mom in August, lowering the annual rate to 5.1%. If core CPI rose by 0.2% mom, the annual rate could have gone up slightly to 2.6%.
[ Full Story ]Top Market Movers Review
Germany ZEW SURVEY − ECONOMIC SENTIMENT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 16 | 09:00 | ZEW Survey − Economic Sentiment | -41.0 | -52.5 | -55.5 |
German ZEW economic sentiment index improve in September on lower oil prices (FXstreet.com)
Economic expectations have improved in September in Germany on lower oil prices and the improvement of exports due to a weaker Euro, according to the latest survey by the ZEW economic institute. The ZEW indicator of economic sentiment has increased 14.4 points in September, reaching the level of −41.1 points, from the −55.5 level posted in August.
[ Full Story ]- Indicator of Economic Sentiment at ZEW
- UPDATE 1−Euro spurs struggling German investor sentiment−ZEW (Thomson Financial News)
- 2nd UPDATE: German ZEW Econ Expectations Improve In Sep (Dow Jones)
- UPDATE: German ZEW Econ Expectations Improve In September (Dow Jones)
Friday Notes - Growth Expectations by HVB Group
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 16 | 09:00 | Consumer Price Index (YoY) | 3.8% | 3.8% | 4.0% |
| Sep 16 | 09:00 | Consumer Price Index (MoM) | -0.1% | -0.2% | -0.2% |
DATA SNAP: Euro−Zone CPI +3.8% In Aug As Food Prices Ease (Dow Jones)
The annual rate of euro−zone inflation eased in August as the year−on−year rate of food price growth declined for the first time in over a year. Prices in the 15 countries that share the euro fell 0.1% on the month and rose 3.8% on the year in August, in line with market expectations, data from the European Union's official statistics agency Eurostat showed Tuesday.
[ Full Story ]- Euro area annual inflation down to 3.8% at Eurostat
- UPDATE: Euro−Zone Aug CPI +3.8% As Fuel, Food Prices Ease (Dow Jones)
- Euro zone Aug inflation fall confirmed but core up (Thomson Financial News)
- Euro Zone Inflation edges down in August, Core CPI increases (FXstreet.com)
UK CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 16 | 08:30 | Retail Price Index (MoM) | 0.3% | 0.4% | -0.1% |
| Sep 16 | 08:30 | Retail Price Index (YoY) | 4.8% | 4.9% | 5.0% |
| Sep 16 | 08:30 | Consumer Price Index (MoM) | 0.6% | 0.5% | 0.0% |
| Sep 16 | 08:30 | Consumer Price Index (YoY) | 4.7% | 4.6% | 4.4% |
| Sep 16 | 08:30 | Core Consumer Price Index (YoY) | 2.0% | 1.9% | 1.9% |
UK CPI accelerates in August from already high levels (FXstreet.com)
Inflation at consumer level has accelerated further in the UK in August, reaching the fastest growing pace posted in the latest 17 years, according to data released by National Statistics.
[ Full Story ]- Consumer price indices at National Statistics
- UPDATE: UK Aug CPI +4.7%YY; BOE King To Write New Letter (Dow Jones)
- UPDATE 1−British inflation hits 16−year high of 4.7 pct (Thomson Financial News)
- INSTANT VIEW 1−UK inflation hits 4.7 percent in August (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 16 | 08:52 | UK | DCLG House Price Index (YoY) (Jul) | -0.3% | -2.0% | 0.6% |
| 09:00 | EMU | Consumer Price Index − Core (YoY) (Aug) | 1.9% | 1.8% | 1.7% | |
| 09:00 | EMU | Consumer Price Index (MoM) (Aug) | -0.1% | -0.2% | -0.2% | |
| 09:00 | EMU | Consumer Price Index (YoY) (Aug) | 3.8% | 3.8% | 4.0% |
|
| 09:00 | DE | ZEW Survey − Economic Sentiment (Sep) | -41.0 | -52.5 | -55.5 | |
| 11:26 | UK | BoE Inflation Letter | ||||
| 12:30 | US | Consumer Price Index (MoM) (Aug) | 0.0% | 0.8% | ||
| 12:30 | US | Consumer Price Index (YoY) (Aug) | 5.5% | 5.6% | ||
| 12:30 | US | Consumer Price Index Ex Food & Energy (MoM) (Aug) | 0.2% | 0.3% | ||
| 12:30 | US | Consumer Price Index Ex Food & Energy (YoY) (Aug) | 2.6% | 2.5% | ||