Tuesday, Sep 23, 10:59 GMT
U.S. Trading Newsletter
To Get Started
- Webinar Videos: MONTHLY WEBINAR: Common Sense Fundamentals and Technicals for Real Traders by Mark Whistler
- Special Coverage - Financial Crisis: The US Government's ultimate intervention by FXstreet.com
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Forex Blogs
FX Market Readings: volatile moves for a day by Dr. S. Sivaraman
EURO and GBP are expected to make volatile moves today− firming up moves followed by slide. A massive rise was seen for week beginning to induce lower level short sellers to cover their shorts in that lower level buyers are benefited.
1st on Forex: Bernanke & Paulson Due to Speak − Hedge Funds Next? by Jerry Furst
FX Path: USD/JPY Update − March of the Bears by James Chen
Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Sep 23, 14:00 GMT
Type of Session: Webinar
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, Sep 23, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Sep 23, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Sep 23, 13:00 GMT | Principles of Point & Figure Trading in Forex | James Chen | WBN |  |
| Tue, Sep 23, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
| Tue, Sep 23, 15:00 GMT | Trading with Autochartist | Raghee Horner | WBN | |
Current Session: Europe − U.S.
EUR/USD
Daily Trading Forecast − Oil, Commodity Prices Spur USD's Downward Correction by Swiss e Trade AG
First it was last week's turbulent financial events that ignited the overdue downward correction of the Greenback, now it is rising oil and commodity prices putting more pressure on the U.S. currency. Longer term, we see the following levels in the major pairs tested but not broken, each representing a major support / resistance: EUR / USD 1.4900, GBP / USD 1.8750, USD / CHF 1.0600, USD / JPY 104.00.
The EUR / USD, after a consolidation period in Asian trading, corrected downward in early European hours, and is currently trading at 1.4705. We see the level 1.4650 and slightly below being tested, before another attack on the 1.4850 resistance level sets in.
- Fed Special Coverage Transcript by Valeria Bednarik
- 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 − Market worries on Deficit implications of the $700bio Bailout by ACM − Advanced Currency Markets
Currency Technical Report − Currency Technical Report by FXGreece
Forex Technical Report − GBPUSD September23rd Review by ForexHound.com
Forex Economic Analysis − Forex Technical Analysis on Majors by www.deltastock.com
Weekly Analysis
Weekend Analysis − Government Intervention Saves Market by SwingTradeOnline.com
Forex Analysts' Blog
USD/CHF Long−Term Trade by Ross Yamashita,of Pro Pipper Trading
Currency Performance Report
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
Majors at a Glance
- EUR/USD
- Moves up back around opening price level 1.4775 , above pivot level 1.4692
09/23/2008 10:08 GMT - GBP/USD
- Moves up towards first resistant level 1.8699
09/23/2008 10:08 GMT - USD/CHF
- Continues to trade below pivot level 1.0829
09/23/2008 10:09 GMT - USD/JPY
- Moves down below opening price level 105.51 , below pivot level 105.94
09/23/2008 10:09 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 BERNANKE, PAULSON TESTIFY BEFORE SENNATE COMMITTEE
| Date (GMT) | Event | Cons. | Previous | |
| Sep 23 | 14:00 | Bernanke, Paulson testify before Sennate Committee | - | - |
Daily Forex Technical Report − Dollar at Important Support Levels ahead of Bernanke and Paulson by ActionForex.com
Dollar recovers mildly after yesterday's sharp fall which saw the greenback having the biggest decline against Euro since its inception yesterday. There are several uncertainties in the $700B bailout plan Paulson. Firstly, there are speculations that some politicians will oppose the passage of the plan which result in delay of the rescue of the financial sector.
[ Full Story ]- 1st on Forex: Bernanke & Paulson Due to Speak − Hedge Funds Next? by Jerry Furst
- GLOBAL MARKETS−Stocks, oil fall; eyes on Paulson (Thomson Financial News)
Top Market Movers Review
EMU INDUSTRIAL NEW ORDERS S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 23 | 09:00 | Industrial New Orders (YoY) | 1.6% | -3.9% | -7.4% |
| Sep 23 | 09:00 | Industrial New Orders s.a. (MoM) | 1.0% | -0.7% | -0.3% |
DATA SNAP: Euro−Zone Factory Orders Rose In July (Dow Jones)
Factory orders in the 15 countries that share the euro increased in July, although the rise was entirely driven by the highly volatile transport equipment sector and is unlikely to be sustained.
[ Full Story ]- Read the Industrial New Orders data at Eurostat
- INSTANT VIEW−Euro zone July industry orders rise 1.0 pct m/m (Thomson Financial News)
- Ships, planes, trains boost euro zone July orders (Thomson Financial News)
- TABLE−Euro zone July industry orders rise 1.0 pct m/m (Thomson Financial News)
UK BBA MORTGAGE APPROVALS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 23 | 08:30 | BBA Mortgage Approvals | 21.086 | - | 22.239 |
UPDATE: UK Aug Mortgage Approvals at Record Low − BBA (Dow Jones)
U.K. mortgage lending slumped in August as the government's delay in acting over stamp duty, combined with the continued credit crunch and economic uncertainty, saw the property market stall, data showed Tuesday.
[ Full Story ]- Read the Mortgage Approvals data at BBA
- UPDATE 1−UK mortgage approvals hit record low in Aug−BBA (Thomson Financial News)
- TABLE−Breakdown of UK August mortgage lending−BBA (Thomson Financial News)
- UK mortgage approvals hit record low in Aug−BBA (Thomson Financial News)
EMU PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 23 | 08:00 | Purchasing Manager Index Manufacturing | 45.3 | 47.3 | 47.6 |
| Sep 23 | 08:00 | Purchasing Manager Index Services | 48.2 | 48.0 | 48.5 |
Euro Zone PMI shows contraction in services and manufacturing activity in September (FXstreet.com)
Activity in both Euro Zone's manufacturing and services sectors has contracted further in September, according to the latest Flash estimate of September's Purchasing Manager's Index.
[ Full Story ]- NTC Economics homepage
- UPDATE: Euro Zone Sep Composite PMI 47.0,Lowest Since Nov 01 (Dow Jones)
- UPDATE 1−POLL−Eurozone September flash PMI falls, outlook grim (Thomson Financial News)
- POLL−TABLE−Markit Sept eurozone flash services PMI 48.2 (Thomson Financial News)
Friday Notes - EMU PMIs: No Relief by HVB Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 23 | 07:30 | DE | Purchasing Manager Index Services (Sep)  | 49.3 | 50.8 | 51.4 |
| 08:00 | EMU | Purchasing Manager Index Manufacturing (Sep) | 45.3 | 47.3 | 47.6 | |
| 08:00 | EMU | Purchasing Manager Index Services (Sep) | 48.2 | 48.0 | 48.5 | |
| 08:30 | UK | BBA Mortgage Approvals (Aug) | 21.086 | 22.239 |
||
| 09:00 | EMU | Industrial New Orders (YoY) (Jul) | 1.6% | -3.9% | -7.4% | |
| 09:00 | EMU | Industrial New Orders s.a. (MoM) (Jul) | 1.0% | -0.7% | -0.3% | |
| 11:00 | CA | Bank of Canada Consumer Price Index Core (MoM) (Aug) | 0.1% | 0.1% | ||
| 11:00 | CA | Bank of Canada Consumer Price Index Core (YoY) (Aug) | 1.6% | 1.5% | ||
| 11:00 | CA | Consumer Price Index (MoM) (Aug) | -0.1% | 0.3% | ||
| 11:00 | CA | Consumer Price Index (YoY) (Aug) | 3.5% | 3.4% | ||