Tuesday, Dec 16, 12:18 GMT
U.S. Trading Newsletter
To Get Started
- Webinar VIDEOS: Selling FX Options by John Jagerson
- All the events of the day in our Economic Calendar
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Forex Blogs
1st on Forex: FOMC Announcement − Drop Rates to Zero? by Jerry Furst
After Tuesday's meeting − The next scheduled FOMC meeting is January 28, will there be a new Fed Chairman at the helm, or will Bernanke be held over? Will there be any more rate cuts available at that time? There are expectations that rates could be lowered to 0.25% − making the US rates even lower than Japan.
FXBootcamp: Pre London Outlook For December 16th 2008 by David Pegler
the Trader's Edge: Has the USD/CHF seen a top? by Ross Yamashita
Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Dec 16, 15:00 GMT
Type of Session: Webinar
Deflation Economics and the Dollar
Expert: Joseph Trevisani
Start: Tue, Dec 16, 17:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Dec 16, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Dec 16, 14:00 GMT | The USD and the Dow | Adam Rosen | WBN |  |
| Tue, Dec 16, 15:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
| Tue, Dec 16, 17:00 GMT | Deflation Economics and the Dollar | Joseph Trevisani | WBN | |
Current Session: Europe − U.S.
EUR/USD
Eyes euro/dlr target of $1.3950
CBCM − "The euro has continued to accelerate higher and has reached and exceeded our near term target of $1.3670 −− this is the measurement higher from the symmetrical triangle. The market has rallied to its next resistance at $1.3750, the 38.2 percent retracement of the move down from July. We would allow some near−term consolidation but look for dips lower to be contained by $1.3460/30. The market looks set to extend higher −− treating the pattern as a base below $1.3080 offers an additional upside measured target to $1.3830."
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USD/JPY
Daily Trading Forecast − December Sale for USD Continues by Swiss e Trade Strategy Team
The dollar's downtrend in the yen is about to test the 90.00 minor support and is currently trading at 90.20. We see that downtrend continuing in today's trading, eventually probing the 89.50 level.
USD/CHF
Technical Analysis: Currencies − CHF by Mizuho Corporate Bank
The unwinding of the ‘carry trade' and repatriation created a massive demand for US dollars, something we completely underestimated, forgetting that so many currencies are pegged to the greenback one way or another.
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 FED INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Dec 16 | 19:15 | Fed Interest Rate Decision | 0.5% | 1.0% |
FOMC Preview: Dollar Sells Off Ahead of Rate Decision by GFT (Global Forex Trading)
Tuesday's FOMC meeting will be remembered for decades to come as the Federal Reserve brings interest rates down to the lowest level this generation has ever seen. With 2 realistic options on the table and economist and traders divided on how much the Fed will cut interest rates, the only certain outcome is significant volatility for the currency market.
[ Full Story ]- Read the Rate data at Federal Reserve
- TOPWRAP 4−Fed set to halve rates; Japan looks at options (Thomson Financial News)
- GLOBAL MARKETS−Equities, dollar swing, Fed meeting ahead (Thomson Financial News)
Top Market Movers Review
UK CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 16 | 09:30 | Retail Price Index (YoY) | 3.0% | 3.1% | 4.2% |
| Dec 16 | 09:30 | Consumer Price Index (YoY) | 4.1% | 3.9% | 4.5% |
| Dec 16 | 09:30 | Core Consumer Price Index (YoY) | 2.0% | 1.8% | 1.9% |
| Dec 16 | 09:30 | Consumer Price Index (MoM) | -0.1% | -0.3% | -0.2% |
| Dec 16 | 09:30 | Retail Price Index (MoM) | -0.8% | -0.7% | -0.3% |
UK CPI continues moderating in November, yet at high levels (FXstreet.com)
Inflation at consumer level has continued decelerating in the UK in November, on the back of sharp declines in oil prices, according to data released by National Statistics.
[ Full Story ]- Consumer price indices November 2008 at Office for National Statistics
- UPDATE: UK Nov CPI +4.1% YY, Higher Than Expected (Dow Jones)
- INSTANT VIEW5−UK inflation eases by less than expected (Thomson Financial News)
- UPDATE 1−British inflation falls less than forecast in Nov (Thomson Financial News)
Daily Market Briefing - British Pound Continues to Reach New Lows vs Euro, UK CPI Could Weigh on GBP/USD by FXCM
EMU PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 16 | 09:00 | Purchasing Manager Index Services | 42.0 | 41.5 | 42.5 |
| Dec 16 | 09:00 | Purchasing Manager Index Manufacturing | 34.5 | 34.5 | 35.6 |
Euro Zone manufacturing activity deteriorates further in December (FXstreet.com)
Manufacturing as well as services sectors' activity have deteriorated further in the Euro Area in December, according to the latest Flash Purchasing Manager's Index.
[ Full Story ]- Markit Research Homepage
- INSTANT VIEW 5−Markit Dec eurozone Flash composite PMI 38.3 (Thomson Financial News)
- INSTANT VIEW 4−Markit Dec eurozone Flash composite PMI 38.3 (Thomson Financial News)
- INSTANT VIEW 2−Markit Dec eurozone Flash composite PMI 38.3 (Thomson Financial News)
EMU economic indicators - PMI manufacturing indices Germany and EMU (December): down by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 16 | 09:30 | UK | Consumer Price Index (MoM) (Nov) | -0.1% | -0.3% | -0.2% |
| 09:30 | UK | Consumer Price Index (YoY) (Nov) | 4.1% | 3.9% | 4.5% | |
| 09:30 | UK | Retail Price Index (YoY) (Nov) | 3.0% | 3.1% | 4.2% | |
| 10:00 | EMU | Employment Change (QoQ) (3Q) | -0.1% | 0.2% | ||
| 10:00 | EMU | Employment Change (YoY) (3Q) | 0.8% | 1.2% | ||
| 12:17 | UK | BoE Inflation Letter | ||||
| 13:30 | US | Building Permits (MoM) (Nov) | 0.700M | 0.708M | ||
| 13:30 | US | Consumer Price Index (MoM) (Nov) | -1.3% | -1.0% | ||
| 13:30 | US | Consumer Price Index (YoY) (Nov) | 1.5% | 3.7% | ||
| 13:30 | US | Consumer Price Index Ex Food & Energy (MoM) (Nov) | 0.1% | -0.1% | ||