Thursday, Oct 23, 11:06 GMT
U.S. Trading Newsletter
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Check out the new CAG!
The currencies revolution arrives at FXstreet.com
New Currencies at a Glance with all the technical studies you need for your trading plan. Review the market info of the top 31 currency pairs including the hottest pairs of the past week: EUR/USD, GBP/USD, USD/JPY and EUR/CHF.
Moreover data such as live market quotes, forecast, analysts comments, breaking stories and Economic Calendar can be extremely efficient tools for your trading plan.
DISCOVER THE NEW CAG
Forex Blogs
FX Market Readings: Recovery moves with swings by Dr. S. Sivaraman
EURO and GBP are expected to swing and recover mostly today.A small dip during Japanese session start and a recovery move to high set for the day. Then again a dip during European session start and then a recovery move to go above initial high is expected.
Forex Trading Today: Interventions and You by Tim Salem
FxBootcamp: Pre London Outlook October 23rd 2008 by Wayne McDonell
Live Sessions Schedule
MONTHLY WEBINAR − Part 1: Learning to Read Price Action
Expert: Chris Capre
Start: Thu, Oct 23, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Oct 23, 14:00 GMT | MONTHLY WEBINAR − Part 1: Learning to Read Price Action | Chris Capre | WBN |  |
| Thu, Oct 23, 15:45 GMT | MONTHLY WEBINAR − Part 2: Applying filters to determine the best trade strategies and setups  | Chris Capre | WBN | |
| Fri, Oct 24, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum | Sunil Mangwani | WBN |  |
| Fri, Oct 24, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN | |
Current Session: Europe − U.S.
GBP/USD
Daily Forex News − Forex − Dollar continues to rise on deteriorating global economy by ACM − Advanced Currency Markets
GbpUsd Market dropped nearly 2% to 1.6206 following Tuesday break of the low triangle pattern (1.7000) which did open the way through 1.6568 November 2003 low and 61.8% retracement of 1.3682–2.1161 advances. Initial support holds 1.5471 August 2003 low. Following supports are 1.4560 trendline and 1.3682 March 2001 low. On the upside, strong resistance holds 1.7631 last weeks high ahead of 1.8304 former support.
Dow Theory principles by Valeria Bednarik, analyst and foreign manager at MolFX - Management
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 Technical Strategist - EURUSD: Medium Term Bearishness Continues To Target The 1.2484 Level FXTechstrategy
Forex Technical Report - EURUSD Triangle by ForexHound.com
Daily Trading Forecast - Pummeled Euro Takes a Rest by Swiss e Trade AG
Currency on the Day - EUR/USD by Forex-Trends.com
Daily Forex and Dow Jones Recommended Levels - Several words about the EUR/USD future by FXtechtrade
Weekly Outlook
Weekly Forex Focus by Trading Central
FXA Column - $ index, upside pattern still not "complete"... by FXA
Currency Performance
Currencies at a glance
- EUR/USD
- Moves sideways with low volatility. Support is seen at 1.2724 while resistance is seen at 1.2946.
10/23/2008 10:47 GMT - GBP/USD
- Moves sideways with low volatility. Support is seen at 1.6134. MAs are moving in a mixed direction.
10/23/2008 10:48 GMT - USD/CHF
- Moves sideways within a narrow range. Support is seen at 1.1582 while resistance is at 1.1715.
10/23/2008 10:50 GMT - USD/JPY
- Continues to move sideways after bounces slightly from support at 96.82. Intraday resistance is seen at 99.34.
10/23/2008 10:50 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 INITIAL JOBLESS CLAIMS
| Date (GMT) | Event | Cons. | Previous | |
| Oct 23 | 12:30 | Continuing Jobless Claims | - | 3.711K |
| Oct 23 | 12:30 | Initial Jobless Claims | 470K | 461K |
US economic indicators - Initial jobless claims fell slightly more than expected by BHF−Bank
Initial jobless claims fell slightly more than expected from 477k to 461k in the week ending 11 October, mainly due to the negative impact of the hurricanes having petered out. However, job losses are likely to increase, particularly in the financial sector, and we thus expect jobless claims to have risen to 470k in the week ending 18 October.
[ Full Story ]Top Market Movers Review
EMU INDUSTRIAL NEW ORDERS S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 23 | 09:00 | Industrial New Orders s.a. (MoM) | -1.2% | 0.3% | 2.0% |
| Oct 23 | 09:00 | Industrial New Orders (YoY) | -6.6% | -0.4% | 2.9% |
INSTANT VIEW 2−Euro zone Aug orders much weaker than expected (Thomson Financial News)
Euro zone industrial new orders weakened much more than expected in August, strengthening expectations that the economy fell into recession in the third quarter.
[ Full Story ]- Read the Industrial New Orders data at Eurostat
- UPDATE 1−Euro zone orders much weaker than expected in Aug (Thomson Financial News)
- INSTANT VIEW 3−Euro zone Aug orders much weaker than expected (Thomson Financial News)
- Euro zone orders much weaker than expected in Aug (Thomson Financial News)
EMU economic indicators - EMU industrial new orders are expected to have increased by BHF−Bank
UK RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 23 | 08:30 | Retail Sales (YoY) | 1.8% | 2.2% | 3.3% |
| Oct 23 | 08:30 | Retail Sales (MoM) | -0.4% | -0.8% | 1.2% |
DATA SNAP: UK Sep Retail Sales −0.4%MM, Better Than Expected (Dow Jones)
U.K. monthly retail sales fell in September, but by less than expected, data from the Office for National Statistics showed Thursday.
[ Full Story ]- Read the Retail Sales data at National Statistics
- UPDATE: UK Sep Retail Sales −0.4% MM, Better Than Expected (Dow Jones)
- UPDATE 1−UK retail sales growth hits 2−1/2 yr low in Sept (Thomson Financial News)
- INSTANT VIEW 6−UK retail sales fall in September (Thomson Financial News)
Daily Analysis - The sterling drops to a five year low before retail data by Finotec Group Inc.
Trading News Report - U.K. Retail Sales on Tap − Will the British Pound Fall Further? by FXCM
Sweden RIKSBANK INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 23 | 07:30 | Riksbank Interest Rate Decision | 3.75% | - | 4.25% |
UPDATE 1−Sweden cuts rates sharply by 1/2 point, more to come (Thomson Financial News)
Sweden's central bank cut its key interest rate by a surprisingly deep 50 basis points on Thursday, the second policy easing this month, and said further easing is in store as it battles a global financial crisis.
[ Full Story ]- UPDATE 3−Swedish rates cut sharply to 3.75 pct, more to come (Thomson Financial News)
- UPDATE 2−Swedish rates cut sharply to 3.75 pct, more to come (Thomson Financial News)
- INSTANT VIEW 6−Swedish rates slashed 1/2 point, more cuts seen (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 23 | 08:00 | EMU | Current Account s.a (Aug) | -8.4B | -5.0B | -1.8 |
| 08:30 | UK | BBA Mortgage Approvals (Sep) | 23.422 | 20.500K | 21.342 |
|
| 08:30 | UK | Retail Sales (MoM) (Sep) | -0.4% | -0.8% | 1.2% | |
| 08:30 | UK | Retail Sales (YoY) (Sep) | 1.8% | 2.2% | 3.3% | |
| 09:00 | EMU | Industrial New Orders (YoY) (Aug) | -6.6% | -0.4% | 2.9% |
|
| 09:00 | EMU | Industrial New Orders s.a. (MoM) (Aug) | -1.2% | 0.3% | 2.0% |
|
| 12:30 | US | Continuing Jobless Claims (Oct 11) | 3.711K | |||
| 12:30 | US | Initial Jobless Claims (Oct 18) | 470K | 461K | ||
| 14:00 | US | Housing Price Index (MoM) (Aug) | -0.5 | -0.6 | ||
| 14:30 | CA | Bank of Canada Monetary Policy Report | ||||