Monday, Sep 29, 11:05 GMT
U.S. Trading Newsletter
To Get Started
- Webinar Videos: The Weather Report: Ichimoku Cloud Trading by Chris Capre
- Special Coverage - The Bailout Plan is almost there by FXstreet.com
- Streaming Forex Charts - 22 currency pairs and 21 technical indicators, FREE! by Netdania/FXCM
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International Traders Conference 2008 − October 29−31
8 experts, 3 days, 9 hours of Live Trading, 8 hours of speeches and much more!
"I will be using the very short term charts, so that we'll be seeing movement as we talk, and discussing the decisions as the market moves."
Rob Booker about Live Trading Sessions
Book your seat before it's too late... Register deadline is October 10!
- Speeches Schedule
- Speakers Panel
- Haven't you decided to go yet? − View all 2007 videos
Forex Blogs
The Advisor Blog: The Gbp/Usd for the rest of the day by Valeria Bednarik
The pair is falling unstoppable (already 400 pips from the maximum) and without signs of finding a near term bottom, after clearly broken the ascendant daily trend line that was guiding it.
FX Market Readings: Week beginning false move − a massive move... by Dr. S. Sivaraman
The Disciplined Trader: Tentative Deal for Bailout to be Voted on Monday by Pierre Charlebois
Live Sessions Schedule
Risk Management
Expert: Valeria Bednarik
Start: Mon, Sep 29, 12:30 GMT
Type of Session: Webinar
Topics
− How to manage your capital in order to become profitable?
− Caution trading could be worthy too
− Why waiting for stop hunting and margin calls?
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Sep 29, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Sep 29, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, Sep 29, 12:30 GMT | Risk Management | Valeria Bednarik | WBN | |
| Mon, Sep 29, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, Sep 29, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
Current Session: Europe − U.S.
GBP/USD
Daily Trading Forecast − Dollar Buoyed by Asian / European Economic Concerns by Swiss e Trade AG
With the U.S. banking crisis partially defused by the hammered down bailout plan, the financial woes are now spreading over Asia and Europe, nourishing fears of recession in Europe and a serious economic slowdown in Asia. The U.S. currency traded higher in Asian and early European trading, possibly resuming its longer−term uptrend after the down correction.
Cable dropped considerably to now 1.8010 in early European trading and is about to test a longer−term support at 1.7950. We expect this level to hold temporarily and see a recovery to resistance at 1.8065, where another attack on support at 1.7950 could occur in today's trading.
- The U.S. Dollar sits and waits for D.C. by Raghee Horner, trader and author at Raghee.com
- 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 − Dollar rose ahead of Monday US lawmakers vote by ACM − Advanced Currency Markets
Currency on the Day − EUR/USD by Forex−Trends.com
Currency Technical Report − Currency Technical Report by FXGreece
Forex Economic Analysis − Forex Technical Analysis on Majors by www.deltastock.com
Daily Forex Commentary − How will the Plan be received? by Jyske Bank
Weekly Outlook
Weekly Technical Strategist − EURUSD: Recovery Stalls Ahead Of the 1.4951/67 levels, Prints A Shooting Star Candle by FXTechstrategy
Forex Analysts' Blog
The Gbp/Usd for the rest of the day by Valeria Bednarik, analyst and foreign manager at MolFX − Management
Currency Performance
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
Forex Signals
Recent Recommended Trades by AceTrader
Majors at a Glance
- EUR/USD
- Continues to move down below 1.4350 , below third support level 1.4429
09/29/2008 09:57 GMT - GBP/USD
- Continues to move down below 1.8000 , below third support level 1.8213
09/29/2008 09:58 GMT - USD/CHF
- Continues to move up above 1.1050 , above third resistant level 1.1015
09/29/2008 09:59 GMT - USD/JPY
- Stays above opening price level 106.09 , above pivot level 105.91
09/29/2008 09:59 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 PERSONAL SPENDING
| Date (GMT) | Event | Cons. | Previous | |
| Sep 29 | 12:30 | Personal Income (MoM) | 0.2% | -0.7% |
| Sep 29 | 12:30 | Personal Spending | 0.2 | 0.2 |
| Sep 29 | 12:30 | Core Personal Consumption Expenditure − Prices Index (MoM) | 0.2% | 0.3% |
| Sep 29 | 12:30 | Core Personal Consumption Expenditure − Prices Index (YoY) | 2.4% | 2.4% |
Friday Notes - Moderation in both income and spending growth by HVB Group
Personal income has fluctuated widely from month to month lately, mainly because of swings in the receipt of tax rebates. Modest increases likely returned last month, a reflection of further declines in payrolls offset by moderate increases in average pay.
[ Full Story ]Top Market Movers Review
EMU CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 29 | 09:00 | Economic Confidence | 87.7 | 87.2 | 88.5 |
| Sep 29 | 09:00 | Consumer Confidence | -19 | -20 | -19 |
DATA SNAP: Euro−Zone Business Confidence Weakened In Sep (Dow Jones)
Business confidence in the 15 countries that use the euro weakened in September, pointing to a further slowdown in growth during the remainder of 2008. But according to a European Commission survey published Monday, consumer confidence was unchanged.
[ Full Story ]- European Comission
- UPDATE 1−Euro zone sentiment hits seven−year low in Sept (Thomson Financial News)
- INSTANT VIEW 1−Euro zone economic sentiment hits 7−year low (Thomson Financial News)
- Euro zone Sept business climate hits five−year low (Thomson Financial News)
Friday Notes - EMU, Economic Confidence: Depressed by HVB Group
UK NET LENDING TO INDIVIDUALS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 29 | 08:30 | Net Consumer Credit | £1.2B | £1.2B | £1.1B |
| Sep 29 | 08:30 | Net Lending to Individuals | £1.4B | £4.0B | £4.0B |
| Sep 29 | 08:30 | Mortgage Approvals | 32K | 30K | 33K |
DATA SNAP: UK August Net Mtge Lending Slumps To GBP143 Mln (Dow Jones)
U.K. net mortgage lending slumped to just GBP143 million in August, the lowest figure since records began in 1993, as the crisis in the global financial system led banks to further scale back loans, data from the Bank of England released Monday showed.
[ Full Story ]- Read the Lending data at BoE
- UPDATE 1−UK net mortgage lending collapses in August (Thomson Financial News)
- UPDATE: UK August Net Mtge Lending Hits Record Low GBP143M (Dow Jones)
- UK net mortgage lending falls to record low in August (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 29 | 08:30 | UK | M4 Money Supply (MoM) (Aug) | 1.4% | 1.4% | 0.9% |
| 08:30 | UK | M4 Sterling Lending (Aug) | £22.5B | £22.0B | £12.4B | |
| 08:30 | UK | Mortgage Approvals (Aug) | 32K | 30K | 33K | |
| 08:30 | UK | Net Consumer Credit (Aug) | £1.2B | £1.2B | £1.1B | |
| 09:00 | EMU | Consumer Confidence (Sep) | -19 | -20 | -19 | |
| 09:00 | EMU | Economic Confidence (Sep) | 87.7 | 87.2 | 88.5 |
|
| 12:30 | US | Core Personal Consumption Expenditure − Prices Index (MoM) (Aug) | 0.2% | 0.3% | ||
| 12:30 | US | Core Personal Consumption Expenditure − Prices Index (YoY) (Aug) | 2.4% | 2.4% | ||
| 12:30 | US | Personal Income (MoM) (Aug) | 0.2% | -0.7% | ||
| 12:30 | US | Personal Spending (Aug) | 0.2 | 0.2 | ||