Wednesday, Nov 05, 12:04 GMT
U.S. Trading Newsletter
US Presidential Election 2008
Obama the 44th President of the USA
The Usd was slightly stronger in Asian session, as markets ponder the effect of a change of US regime. The EurUsd traded from 1.3048 down to 1.2794, while the UsdJpy trended lower from 100.38 to 99.28. By lunch time in Asia, Obama's victory was confirmed, which fueled optimism for further economic stimulus and the Usd saw broad based buying, as gold and crude came under pressure.
Obama urged to shape new economic order (Thomson Financial News)
More News from the Editor's Desk
To Get Started
- Webinar Videos: Bollinger Bands and RSI by Valeria Bednarik
- All the events of the day in our Economic Calendar
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Forex Blogs
The Advisor Blog: Change has come by Valeria Bednarik
Those are the words of the new U.S. Elected President, Barack Obama; Is this important for forex trader? No doubts. Would in change markets trend in the short or medium term? I don't think so. But a new president means new monetary policy, taxes policy, and for what I now, even a new "war" policy.
FX Market Readings: EURO and GBP are expected to swing and firm up by Dr. S. Sivaraman
Trade Setups: Forex Video - Set ups 04 Nov '08 - Analysis by Phil Newton
Live Sessions Schedule
Main technical theme in the currency market
Expert: Jamie Saettele
Start: Wed, Nov 5, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, Nov 5, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Nov 5, 14:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN | |
| Wed, Nov 5, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN |  |
| Wed, Nov 5, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Nov 6, 11:00 GMT | Tracking the forex market together / Part I | Dr.S.Sivaraman | WBN | |
Current Session: Europe − U.S.
EUR/USD
Daily Technical Strategist − EURUSD: Resistance At 1.3259/98 Level Looks To Turn Back EUR by FXTechstrategy
Although reversal of its intraday losses off the 1.2527 low Tuesday saw EUR wipe out most of its last week's losses and those of Monday, as long as such gains is capped by the 1.3259/98 area, its Oct 10'08 low/Oct 30'08 high, the pair looks to turn lower and continue its medium term downtrend. Above the mentioned resistance though not envisaged at the current price levels will aim at the 1.3666 level, its Dec'04 high. Its daily stochastics has turned higher suggesting a further strength.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, 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 ISM NON−MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Nov 5 | 15:00 | ISM Non−Manufacturing | 47.8 | 50.2 |
Daily Market Briefing - US Dollar Plunges On Demand for Risky Assets − Will A Drop In ISM Non−Manufacturing Matter on Wednesday? by FXCM
The US dollar pulled back sharply on Tuesday, especially against the high−yielding commodity dollars, amidst a pickup in demand for carry and an improvement in investor sentiment.
[ Full Story ]Top Market Movers Review
EMU RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 5 | 10:00 | Retail Sales (YoY) | -1.60% | -2.25% | -1.80% |
| Nov 5 | 10:00 | Retail Sales (MoM) | -0.2% | -0.3% | 0.3% |
DATA SNAP: Euro−Zone Retail Sales Fell In September (Dow Jones)
Retail sales in the 15 countries that use the euro fell in September as increased fears of job losses made consumers more wary of spending. The European Union's statistics agency Wednesday said sales volumes in the currency area were down 0.2% from August and 1.6% from September 2007.
[ Full Story ]- Read the Retail Sales data at Eurostat
- Euro Zone retail sales decline in September, although less than expected (FXstreet.com)
- EU Retail Sales decrease 0.2% in Sep; 1.6% down year on year (FXstreet.com)
UK INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Nov 5 | 09:30 | Industrial Production (MoM) | -0.2% | -0.3% | -0.6% |
| Nov 5 | 09:30 | Industrial Production (YoY) | -2.2% | -2.3% | -2.3% |
| Nov 5 | 09:30 | Manufacturing Production (MoM) | -0.8% | -0.3% | -0.6% |
| Nov 5 | 09:30 | Manufacturing Production (YoY) | -2.3% | -1.6% | -2.0% |
DATA SNAP: UK Mfg Sep Output Falls Again, −0.8% On Month (Dow Jones)
U.K. manufacturing output fell for the seventh straight month in September, with output dropping a larger−than−expected 0.8% on the month, the Office for National Statistics said Wednesday.
[ Full Story ]- Read the Industrial Production data at UK Statistics
- UPDATE 1−UK factory output posts biggest run of falls in 28 yrs (Thomson Financial News)
- UK Manufacturing output posts a historical decline in September (FXstreet.com)
- United Kingdom: Industrial Production declines 0.2% in Sep; 2.2% down on year (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Nov 5 | 00:00 | US | U.S. Presidential Election | |||
| 09:30 | UK | Purchasing Manager Index Services (Oct) | 42.4 | 46.0 | ||
| 10:00 | EMU | Retail Sales (MoM) (Sep) | -0.2% | -0.3% | 0.3% | |
| 10:00 | EMU | Retail Sales (YoY) (Sep) | -1.60% | -2.25% | -1.80% | |
| 10:30 | UK | BRC Shop Price Index (YoY) (Oct) | 3.0% | 3.6% | ||
| 12:00 | US | MBA Mortgage Applications (Oct 31) | -20.3% | 16.8% | ||
| 13:15 | US | ADP Employment Change (Oct) | -90K | -8K | ||
| 15:00 | US | ISM Non−Manufacturing (Sep) | 47.8 | 50.2 | ||
| 15:35 | US | EIA Crude Oil Stocks change (Oct 31) | 0.5M | |||
| 21:45 | NZ | Unemployment Rate (3Q) | 4.3% | 3.9% | ||