Thursday, Dec 04, 11:35 GMT
U.S. Trading Newsletter
To Get Started
- Webinar Videos: The Weather Report: Ichimoku Cloud Trading by Chris Capre
- All the events of the day in our Economic Calendar
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Forex Blogs
FX Market Readings: BOE & ECB interest rate decisions − expected market moves before and after... by Dr. S. Sivaraman
Today (Dec 04) is considered important as the interest rate decisions are to be announced by BOE by 12:00 GMT and ECB by 12:45 GMT,followed by ECB press conference by 13:30 GMT (the hawkish or dovish statement time).
Forex Trading Today: Here come the Beaurocrats…but I’m on Mute! by Tim Salem
The Advisor Blog: Starting the (rates) day by Valeria Bednarik
Live Sessions Schedule
Advanced Methods for Finding Dominant Trends in Forex Markets
Expert: Mark Whistler
Start: Thu, Dec 4, 16:00 GMT
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Dec 4, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Dec 4, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Dec 4, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Thu, Dec 4, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Thu, Dec 4, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN | |
Current Session: Europe − U.S.
USD/JPY
Better Not Enter the Market before the Interest Rate Announcements
Swiss e Trade AG − The dollar is still testing the 92.50 support zone against the yen and is currently trading at 92.75. The longer−term downtrend will be confirmed not before the 91.00 level is broken, which we don't see happening today. From the 92.50 level, minor upmoves are likely, but not exceeding 93.20, from where further weakness can be expected.
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GBP/USD
Daily FX Report − Yesterday the GBP/USD lost 0.9 % by Varengold Wertpapierhandelsbank AG
Yesterday the GBP/USD lost 0.9 % and once more 0.25 % in the morning session because of rumors in the market about a rate cut of 125 basis points.
EUR/USD
Currency on the Day − EUR/USD by Forex−Trends.com
EURUSD is in the same position as yesterday and there is no changes in the picture: pair has not got a direction even for the short term.
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
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Dec 4 | 12:45 | ECB Interest Rate Decision | 2.75% | 3.25% |
| Dec 4 | 12:00 | BoE Interest Rate Decision | 2% | 3% |
BoE and ECB: Will they Under or Over Deliver? by GFT (Global Forex Trading)
The Bank of England has been the most aggressive and proactive of the G−10 central banks in their attempts to ease monetary policy. The most recent cut of 150bp was a huge surprise to all traders and represents the largest single meeting cut to occur for any of the major central banks during the financial crisis.
- UPDATE − BoE seen slashing rates to 2 pct as economy dives (Thomson Financial News)
- Sterling Bears The Brunt Of Rate Cut Frenzy (Dow Jones)
UK: Interest Rates Forecast to Crash to 1% by Marketoracle.co.uk
KBC News Picks - EMU: Retail sales surprise on the downsideWeak PMI figures increase pressure on BoEWeak PMI figures increase pressure on BoE by KBC Bank
Top Market Movers Review
EMU GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 4 | 10:00 | Gross Domestic Product s.a. (YoY) | 0.6% | 0.7% | 1.4% |
| Dec 4 | 10:00 | Gross Domestic Product s.a. (QoQ) | -0.2% | -0.2% | -0.2% |
DATA SNAP: Euro−Zone Contraction Led By Trade, Industry (Dow Jones)
The euro−zone economy contracted in the third quarter as net trade became a big drag on growth and the decline in industrial production accelerated. European Union statistics agency Eurostat Thursday said that in the three months to the end of September, euro−zone gross domestic product was 0.2% lower than in the second quarter, and 0.6% higher than in the third quarter of 2007.
[ Full Story ]- Read the GDP data at Eurostat
- CORRECT: *Euro−Zone 3Q GDP Forecast −0.2% QQ, Not MM (Dow Jones)
- INSTANT VIEW 3−Euro zone recession confirmed after Q3 GDP fall (Thomson Financial News)
- Euro Zone GDP contracted in the third quarter as expected (FXstreet.com)
Daily Forex Technical Report − ECB and BoE in Focus by ActionForex.com
EMU economic indicators - EMU GDP: No revisions expected by BHF−Bank
UK HALIFAX HOUSE PRICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 4 | 09:00 | Halifax House Prices (MoM) | -2.6% | -1.0% | -2.2% |
| Dec 4 | 09:00 | Halifax House Prices (YoY) | -14.9% | - | -13.7% |
DATA SNAP: UK House Prices Post Record Annual Drop−Halifax (Dow Jones)
U.K. house prices posted their biggest drop on an annualized basis for at least a quarter of a century in November as the credit crunch and weak economic outlook continued to throttle the property market, data from HBOS PLC (HBOS.LN) showed Thursday.
[ Full Story ]- Read the House Price Index data at Halifax
- UPDATE 1−UK Nov house prices fall most since 1990s crash (Thomson Financial News)
- UPDATE: UK House Prices Plummet In November −Halifax (Dow Jones)
- UK Halifax House Prices Index fall beyond expectations in November (FXstreet.com)
Sweden RIKSBANK INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 4 | 08:30 | Riksbank Interest Rate Decision | 2.00% | - | 3.75% |
INSTANT VIEW 7−Swedish cbank slashes rates record 175 bp (Thomson Financial News)
Sweden's central bank slashed its key interest rate by a record 1.75 percentage point to 2.00 percent on Thursday, a shock move to try to prevent the economy from sliding deeper into recession.
[ Full Story ]- Read the Official Statement at Riksbank
- TOPWRAP 4−Sweden, NZ make record rate cuts, Europe poised (Thomson Financial News)
- UPDATE 1−ECB poised to cut rates sharply after Sweden shock (Thomson Financial News)
- INSTANT VIEW 6−Swedish cbank slashes rates record 175 bp (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 4 | 06:45 | CH | Gross Domestic Product (YoY) (Oct) | 1.6% | 1.8% | 2.3% |
| 08:30 | SE | Riksbank Interest Rate Decision | 2.00% | 3.75% | ||
| 09:00 | UK | Halifax House Prices (MoM) (Nov) | -2.6% | -1.0% | -2.2% | |
| 09:00 | UK | Halifax House Prices (YoY) (Nov) | -14.9% | -13.7% | ||
| 10:00 | EMU | Gross Domestic Product s.a. (QoQ) (3Q) | -0.2% | -0.2% | -0.2% | |
| 10:00 | EMU | Gross Domestic Product s.a. (YoY) (3Q) | 0.6% | 0.7% | 1.4% | |
| 12:00 | UK | BoE Interest Rate Decision | 2% | 3% | ||
| 12:45 | EMU | ECB Interest Rate Decision | 2.75% | 3.25% | ||
| 13:30 | CA | Building Permits (MoM) (Oct) | -5.0% | 13.4% | ||
| 13:30 | US | Continuing Jobless Claims (Nov 29) | 3962K | |||