Tuesday, Dec 09, 12:08 GMT
U.S. Trading Newsletter
To Get Started
- Webinar VIDEOS: Advanced Forex Trading: Momentum Versus Reversals Within Indicators by Mark Whistler
- All the events of the day in our Economic Calendar
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Forex Blogs
The Advisor Blog: Major's sentiment for today by Valeria Bednarik
As promised, here is the most probable direction for majors today.
FX Market Readings: EURO and GBP are expected to swing and firm up… by Dr.S. Sivaraman
FX Bootcamp: Pre London Outlook For December 9th 2008 by Wayne McDonell
Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Dec 9, 15:00 GMT
Type of Session: Webinar
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, Dec 9, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Dec 9, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Dec 9, 14:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN |  |
| Tue, Dec 9, 15:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
| Tue, Dec 9, 16:00 GMT | Trading with Autochartist | Raghee Horner | WBN | |
Current Session: Europe − U.S.
EUR/USD
Hopes of an automaker rescue and Government spending pushed the Dollar and Yen lower
ACM − Advanced Currency Markets − The Dollar fell on Monday as President−elect Barack Obama's plan for massive infrastructure spending lifted global stock markets, spurring investors to reduce holdings of safe−haven Dollars and take on more risk. EurUsd Market is trading in the last 6−week trading range 1.2330 – 1.3298 but trying to break up the triangle consolidation pattern. This may open the way to 1.3500 target equal to 1.3302−1.2334 spread.
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EUR/USD
EUR/USD: (1.2868) Back above 1.2767 by KBC Bank
Pair reapproached 1.2527 but managed strong rebound: now back above 1.2767: Support area at 1.2840 (daily envelope bottom), with next levels at 1.2804 (daily Short Term Moving Average↑), ahead of 1.2743/ .2727 (daily Long Term Moving Average→/ daily Bollinger midline) and 1.2777 (break−up hourly), where pause favored.
USD/CAD
Trading the Bank of Canada Interest Rate Decision by FXCM
The Canadian dollar could face increased selling pressures over the next 24 hours of trading as the Bank of Canada is widely expected to lower the benchmark interest rate by another 50bp to 1.75% as policymakers attempt to sterilize the spillover effects of the credit crisis.
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 PENDING HOME SALES
| Date (GMT) | Event | Cons. | Previous | |
| Dec 9 | 15:00 | Pending Home Sales (MoM) | -3.0% | -4.6% |
US economic indicators - Pending home sales might have fallen again by BHF−Bank
Pending home sales declined by 4.6% mom in September, thus only partially reversing their sharp August increase. After having stabilized somewhat due to the large number of foreclosures during spring and summer, pending home sales might have fallen again by 2.5% mom in October because of the intensification of the credit crunch.
[ Full Story ]Top Market Movers Review
Germany ZEW SURVEY − ECONOMIC SENTIMENT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 9 | 10:00 | ZEW Survey − Economic Sentiment | -45.2 | -55.7 | -53.0 |
German ZEW index unexpectedly rises in December (Thomson Financial News)
German analyst and investor sentiment on the outlook for Europe's biggest economy unexpectedly improved in December, a survey showed on Tuesday.
[ Full Story ]- Read the Economic Sentiment data at ZEW
- UPDATE 1−ZEW morale index rise offers ray of hope for Germany (Thomson Financial News)
- ZEW economist: Dec rise must be kept in perspective (Thomson Financial News)
- UPDATE 1−ZEW morale index rise offers ray of hope for Germany (Thomson Financial News)
EMU economic indicators - German ZEW economic sentiment (December): down by BHF−Bank
UK TOTAL TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 9 | 09:30 | Total Trade Balance | -3.9B | -4.0B | -3.9B |
| Dec 9 | 09:30 | Goods Trade Balance | -£7.8B | -£7.5B | -£7.5B |
DATA SNAP: UK Oct Trade Deficit Widens To GBP7.8B (Dow Jones)
The U.K. global goods deficit widened to GBP7.8 billion in October from a revised GBP7.4 billion in September, the Office for National Statistics said Tuesday. The market was expecting a deficit of GBP7.5 billion, according to a Dow Jones Newswires survey of economists last week.
[ Full Story ]- Read the Trade Balance data at UK Statistics
- UPDATE: UK Oct Trade Deficit Widens As Exports Slide (Dow Jones)
- Short sterling hits day high after weak UK data (Thomson Financial News)
- INSTANT VIEW 1−UK Oct industrial output falls sharply (Thomson Financial News)
UK INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 9 | 09:30 | Industrial Production (YoY) | -5.2% | -3.0% | -2.9% |
| Dec 9 | 09:30 | Industrial Production (MoM) | -1.7% | -0.3% | -0.3% |
INSTANT VIEW 3−UK Oct industrial output falls sharply (Thomson Financial News)
British industrial output fell at its sharpest pace in nearly six years in October and revisions to previous months' data could mean the economy shrank even faster in the third quarter than initially thought.
[ Full Story ]- Read the Industrial Production data at UK Statistics
- Short sterling hits day high after weak UK data (Thomson Financial News)
- UPDATE 1−UK industry output dives,Q3 GDP may be revised down (Thomson Financial News)
- INSTANT VIEW 5−UK Oct industrial output falls sharply (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 9 | 09:30 | UK | DCLG House Price Index (YoY) | -7.4% | -6.5% | -5.1% |
| 09:30 | UK | Goods Trade Balance (Oct) | £-7.8B | -£7.5B | -£7.5B | |
| 09:30 | UK | Industrial Production (YoY) (Oct) | -5.2% | -3.0% | -2.9% |
|
| 09:30 | UK | Total Trade Balance (Oct) | -3.9B | -4.0B | -3.9B | |
| 10:00 | AU | RBA's Governor Glenn Stevens Speech | ||||
| 10:00 | DE | ZEW Survey − Economic Sentiment (Dec) | -45.2 | -55.7 | -53.0 | |
| 14:00 | CA | BoC Interest Rate Decision | 1.75% | 2.25% | ||
| 15:00 | US | Pending Home Sales (MoM) (Oct) | -3.0% | -4.6% | ||
| 21:45 | NZ | Terms of Trade Index (3Q) | -2.6% | -0.5% | ||
| 22:00 | US | ABC/Washington Post Consumer Confidence (Dec 7) | -54 | |||