Wednesday, Dec 03, 12:18 GMT
U.S. Trading Newsletter
To Get Started
- Webinar Videos: The Weather Report: Ichimoku Cloud Trading by James Chen
- All the events of the day in our Economic Calendar
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Forex Blogs
The Advisor Blog: Usd/Jpy breaking lower by Valeria Bednarik
The pair remains under bearish pressure, and quoting @ 93.00; with a really tought support at 92.55, under that value the pair will probably quickly run to the downside, first to 92.05 and under that, close to 91.30.
FX Market Readings: A drop and a rise for the day by Dr. S. Sivaraman
Forex Trading Today: Is Godzilla drinking our Black Gold? by Tim Salem
Live Sessions Schedule
Main technical theme in the currency market
Expert: Jamie Saettele
Start: Wed, Dec 3, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, Dec 3, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Dec 3, 13:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, Dec 3, 14:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN | |
| Wed, Dec 3, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Wed, Dec 3, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
Current Session: Europe − U.S.
USD/CHF
Markets Await BoE, ECB Rate Cut Due Tomorrow
Swiss e Trade AG − The dollar picked up some strength against the Swiss franc in early European trading. Currently priced at 1.2105, it seems to be attacking the resistance at 1.2190 today. We do not expect this move to come quickly today, but rather see slow trading up to that level without breaking it.
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USD/JPY
Daily Forex News − Forex − Forex market await tomorrow Central banks rate decisions by ACM − Advanced Currency Markets
Market confirmed yesterday the break down November triangle pattern. Yesterday, pressure did open the way down to 92.88 low. Further downtrend may open 79.70 April 1995 low.
USD
Daily Market Commentary − How Does the US Dollar Perform in a Recession? by GFT (Global Forex Trading)
It is a challenging week for the financial markets and today's recovery in equities is characteristic of a bear market rally which is why the dollar managed to hold onto its gains against every major currency except for the Euro.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ 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 | |
| Dec 3 | 15:00 | ISM Non−Manufacturing | 42.0 | 44.4 |
Daily Market Briefing - US Dollar Holds To Wide Ranges, ISM Services Forecasted to Hit Record Low on Wednesday by FXCM
The US dollar remains within the range it has held to since the start of November, and for what it's worth, day−to−day moves signal little more than consolidation. While it is possible that we will see a sharp correction lower in the near−term, the long−term trend remains very much in favor of US dollar strength.
[ Full Story ]Daily Forex Technical Report − Dollar and Yen to Resume Rally Cautiously, Focus on Services Data by ActionForex.com
US economic indicators - ISM indices (Nov): declining further by BHF−Bank
Top Market Movers Review
EMU RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 3 | 10:00 | Retail Sales (YoY) | -2.1% | -1.4% | -1.4% |
| Dec 3 | 10:00 | Retail Sales (MoM) | -0.8% | -0.4% | 0.0% |
DATA SNAP: Euro−Zone Retail Sales Slump In October (Dow Jones)
Euro−zone retail sales fell more than expected in October as recession and rising unemployment in the 15−nation currency bloc weighed on consumer spending, official data showed Wednesday.
[ Full Story ]- UPDATE − Euro zone retail sales sink, argue for deep ECB cut (Thomson Financial News)
- UPDATE: Euro−Zone Retail Sales Slump In October (Dow Jones)
- INSTANT VIEW 5−Euro zone Oct retail sales fall 0.8 pct m/m (Thomson Financial News)
Daily Market Briefing - Euro Edges Higher, Euro−zone Retail Sales Likely to Disappoint by FXCM
UK PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 3 | 09:30 | Purchasing Manager Index Services | 40.1 | 41.0 | 42.4 |
DATA SNAP: UK Nov Services PMI 40.1 Vs. 42.4 In Oct (Dow Jones)
The U.K.'s dominant services sector contracted at its fastest pace for 12 years in November, increasing the likelihood that the Bank of England's Monetary Policy Committee will cut its key interest rate by as much as 100 basis points Thursday.
[ Full Story ]- UPDATE 1−UK service sector shrinks at record pace in Nov (Thomson Financial News)
- UPDATE: UK Services PMI Slump Suggests Further Deep Rate Cut (Dow Jones)
- INSTANT VIEW 8−UK service sector shrinks at record pace in Nov (Thomson Financial News)
Friday Notes - UK PMI: ...and services sector confidence to weaken further by HVB Group
EMU PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 3 | 09:00 | Purchasing Manager Index Services | 42.5 | 43.3 | 45.8 |
Euro Zone Services PMI dips lower than expected in November (FXstreet.com)
Activity in the Euro Zone's services sector has contracted in November for sixth consecutive month, and at a faster than expected rate, according to the latest Non−manufacturing PMI survey.
[ Full Story ]- Markit Economics homepage
- UPDATE 2−Eurozone PMI plunges, pressure on for big ECB cut (Thomson Financial News)
- 2nd UPDATE: Euro−Zone Services Sector Shrinks At Record Pace (Dow Jones)
- UPDATE 1−Eurozone PMI plunges, pressure on for big ECB cut (Thomson Financial News)
EMU economic indicators - EMU PMI: No revision expected by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 3 | 09:00 | EMU | Purchasing Manager Index Services (Nov) | 42.5 | 43.3 | 45.8 |
| 09:30 | UK | Purchasing Manager Index Services (Nov) | 40.1 | 41.0 | 42.4 | |
| 10:00 | EMU | Retail Sales (MoM) (Oct) | -0.8% | -0.4% | 0.0% |
|
| 10:00 | EMU | Retail Sales (YoY) (Oct) | -2.1% | -1.4% | -1.4% |
|
| 10:43 | UK | BRC Shop Price Index (YoY) (Nov) | 2.7% | 3.0% | ||
| 12:00 | US | MBA Mortgage Applications (Nov 28) | 11.2% | 1.5% | ||
| 13:15 | US | ADP Employment Change (Nov) | -195 | -157K | ||
| 13:30 | US | Nonfarm Productivity (3Q) | 0.9% | 4.3% | ||
| 13:30 | US | Unit Labor Costs (3Q) | 3.6% | -0.5% | ||
| 15:00 | US | ISM Non−Manufacturing (Nov) | 42.0 | 44.4 | ||