Thursday, Oct 30, 12:17 GMT
U.S. Trading Newsletter
To Get Started
- Webinar Videos: MONTHLY WEBINAR: Learning to Read Price Action by Chris Capre
- All the events of the day in our Economic Calendar
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International Traders Conference
Oct 30, 11:21 GMT
After nearly 3 hours of intensive live trading session this early morning, Phil has started his speech on Break out trading strategies! He is still talking at the moment…
Take a look to the pictures!
Forex Blogs
FX Market Readings: Expected moves during US session by Dr. S. Sivaraman
Today US session is considered by many as inportant day for the market to pick up the clues and move further − the FOMC interest rate decision is to be annouced by 18:15 GMT. I am expecting the market to make small swings till the announcement time and then drop quickly about 50−70 pips before the rate announcement and then quickly rise there after for the day.
FX Path: Dollar Weakness − Euro Strength by James Chen
Live Sessions Schedule
How to Get Started Trading Forex
Expert: Mark Whistler
Start: Thu, Oct 30, 15:00 GMT
Type of Session: Webinar
Dan Blystone's Daily Briefing
Expert: Dan Blystone
Start: Thu, Oct 30, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Oct 30, 11:30 GMT | Watch Live Coverage of the US GDP | Jerry Furst | WBN |  |
| Thu, Oct 30, 15:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN |  |
| Thu, Oct 30, 16:00 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN | |
| Fri, Oct 31, 08:00 GMT | The Forex Basic Training Program − Chapter VIII | Wayne McDonell | WBN | |
Current Session: Europe − U.S.
GBP/USD
Daily Trading Forecast − Euro and Pound to Make Further Advances Today by Swiss e Trade AG
The still−young downward correction of the Greenback might well continue in today's trading. Under normal circumstances, we would expect some consolidation now, considering the rapid development, with the EUR / USD pair gaining over 700 pips in just three days. But the present circumstances have little to do with business as usual. The short−term credit markets are resurrecting, and with banks lending to each other again, the very worst might be over.
Cable moved higher again in late Asian trading to a high of 1.6671 and is currently priced at 1.6610, after a downmove in early European hours, near the support zone at 1.6350. We expect this support to hold in today's trading, in tested. Prices below 1.6400 are worth a buy, with an objective of 1.6650.
Dow Theory principles by Valeria Bednarik, analyst and foreign manager at MolFX - Management
Trend Trading - Part 1: Elements of Trend Trading in FX and Futures Markets by Don Wilcox, Forex News Analyst Trade The News
Check out how pairs moved: Live Currency Rates & Charts
Other Topics for This Session
Foreing Exchange - Euro moved higher after breaking 1.2750 yesterday
Weekly Outlook
Weekly Forex Focus by Trading Central
- EUR/USD
- Continues to moves downward with low volatility. Support is seen at 1.2330 while resistance is seen at 1.2718.
10/29/2008 11:58 GMT - GBP/USD
- Slides gradually with moderate volatility. Immediate support is seen at 1.5386. MAs are declining gradually.
10/29/2008 12:15 GMT - USD/CHF
- Moves upward with low volatility. Support is seen at 1.1582 while resistance is at 1.1750.
10/29/2008 12:32 GMT - USD/JPY
- Continues to move downward with low volatility Support is seen at 91.81. Intraday resistance is seen at 94.91.
10/29/2008 12:20 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 GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Cons. | Previous | |
| Oct 30 | 12:30 | Gross Domestic Product Annualized | -0.5% | 2.8% |
| Oct 30 | 12:30 | Gross Domestic Purchases Price Index | 4.0% | 4.3% |
Friday Notes - Weak September figures almost guarantee a sizable contraction in Q4 by HVB Group
Net exports improved further in Q3, the inventory contraction was less extreme, non−residential construction posted a mild increase, and the government sector expanded. But residential construction continued to slide, real consumption was down, and business spending on equipment and software was flat. The net result was likely a minor increase in real GDP. But weak September figures almost guarantee a sizable contraction in Q4.
[ Full Story ]- COMMODITIES−Jump on rate cuts, eyes on U.S. GDP (Thomson Financial News)
Trading News Report - U.S. GDP on Tap − Will Fears of a Recession Drag Down the Dollar? by FXCM
Top Market Movers Review
EMU CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 30 | 10:00 | Consumer Confidence | -24 | -21 | -19 |
| Oct 30 | 10:00 | Economic Confidence | 80.4 | 86.0 | 87.7 |
| Oct 30 | 10:00 | Industrial Confidence | -18 | -14 | -12 |
DATA SNAP: Euro−Zone Oct Business Confidence Hits Fresh Low (Dow Jones)
Euro−zone business confidence fell to fresh lows in October as the worsening economic outlook and global financial turmoil overshadowed the relief provided by cooling inflation.
[ Full Story ]- Read the official data at the European Commision
- UPDATE 1−Euro zone sentiment dive points to rate cut (Thomson Financial News)
- UPDATE: Euro−Zone Confidence Falls, Adding To Rate Cut Hopes (Dow Jones)
- Euro zone business climate hits 7−year low (Thomson Financial News)
Germany UNEMPLOYMENT CHANGE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 30 | 08:55 | Unemployment Rate s.a. | 7.5% | 7.6% | 7.6% |
| Oct 30 | 08:55 | Unemployment Change | -26K | -10 | -28K |
German economy continues creating employment in October (FXstreet.com)
German labour market continues showing signs of strength, as the unemployment figures declined for the fifth consecutive month in October, and so did the Unemployment rate, according to figures released by the German Office of Employment.
[ Full Story ]- Read the Unemployment data at Bundesagentur für Arbeit
- UPDATE 1−German unemployment at 16−yr low, but rise looms (Thomson Financial News)
- INSTANT VIEW 3−German unemployment down in Oct (Thomson Financial News)
- TABLE−German Oct s/adj jobless rate falls to 7.5 pct (Thomson Financial News)
Friday Notes - A strong decline in non−adjusted unemployment is expected by HVB Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 30 | 00:00 | ES | International Traders Conference (ITC) | |||
| 08:55 | DE | Unemployment Change (Oct) | -26K | -10 | -28K |
|
| 08:55 | DE | Unemployment Rate s.a. (Oct) | 7.5% | 7.6% | 7.6% | |
| 10:00 | EMU | Consumer Confidence (Oct) | -24 | -21 | -19 | |
| 10:00 | EMU | Economic Confidence (Oct) | 80.4 | 86.0 | 87.7 | |
| 10:00 | EMU | Industrial Confidence (Oct) | -18 | -14 | -12 | |
| 12:30 | US | Gross Domestic Product Annualized (3Q)  | -0.5% | 2.8% | ||
| 12:30 | US | Gross Domestic Purchases Price Index (3Q) | 4.0% | 4.3% | ||
| 12:30 | CA | Industrial Product Price (MoM) (Sep) | -0.5% | -0.2% | ||
| 12:30 | US | Initial Jobless Claims (Oct 25) | 478K | |||