Tuesday, Dec 23, 12:05 GMT
U.S. Trading Newsletter
To Get Started
- Webinar VIDEOS: MONTHLY WEBINAR - The 1-2-3 chart pattern by Sunil Mangwani
- All the events of the day in our Economic Calendar
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Forex Blogs
1st on Forex: Holiday Season − A Good Time To Prepare for 2009 by Jerry Furst
Good Time To Work On Your Trading and Business Plan:
This market − and season is quite unique. During my webinar today I suggested that traders consider taking the Holiday Season off − away from trading − and concentrate on reflecting on this past years trading and amazing market dynamics...
The Advisor Blog - Starting the Day by Valeria Bednarik
Forex Today: Data-Point Gridlock and Thin Volume = Volatility…or Does It? by Tim Salem
Live Sessions Schedule
Trading techniques discussed
Expert: Adam Rosen
Start: Tue, Dec 23, 14:00 GMT
Type of Session: Webinar
Doing Dealer Due Diligence
Expert: John Jagerson
Start: Mon, Dec 29, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Dec 23, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Dec 23, 13:00 GMT | Fan and Speed lines | Valeria Bednarik | WBN |  |
| Tue, Dec 23, 14:00 GMT | Trading techniques discussed | Adam Rosen | WBN | |
| Tue, Dec 23, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
Current Session: Europe − U.S.
EUR/USD
Swiss e Trade AG − The EUR / USD is in a sideways movement in European morning trading, in almost collapsing volatility and is currently priced at 1.3970. We do not see much change in this trading behavior for today, lacking market or technical signals. A see−saw behavior is most likely, trading between 1.4050 on the upside and 1.3920 on the downside.
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GBP/USD
Forex Economic Analysis − The pair has finalized the downtrend from 2.0153 at 1.4477 by www.deltastock.com
The pair has finalized the downtrend from 2.0153 at 1.4477 and is currently in a broad consolidation towards 1.6676. Trading is situated below the 50− and 200−day SMA, currently projected at 1.5505 and 1.8341.
USD/JPY
Daily Analysis − U.S House sales probably fell in November as the slump continues by Finotec Group Inc.
The dollar held firm against the yen on Tuesday on deepening concerns over the Japanese economy following more gloomy data and a deteriorating economic outlook expressed by the Bank of Japan. The USD/JPY is currently trading at 90.12
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 GROSS DOMESTIC PRODUCT ANNUALIZED
| Date (GMT) | Event | Cons. | Previous | |
| Dec 23 | 13:30 | Gross Domestic Product Annualized | -0.5% | 2.8% |
| Dec 23 | 13:30 | Gross Domestic Purchases Price Index | 4.7% | 4.2% |
The final reading for Q3 GDP is expected to be −0.5% by ActionForex.com
The final readings for Q3 GDP and personal consumption are expected to be −0.5% and −3.7% respectively, same as preliminarily reported. The final December reading for the University of Michigan index of consumer sentiment likely dropped to 58.6 from 59.1 initially estimated. The gauge should have increased from 55.3 in November as decline in gasoline prices and lower mortgage rates were expected to improve personal finance and helped sentiment.
[ Full Story ]Top Market Movers Review
UK GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 23 | 09:30 | Gross Domestic Product (YoY) | 0.3% | 0.3% | 1.5% |
| Dec 23 | 09:30 | Gross Domestic Product (QoQ) | -0.6% | -0.5% | 0.0% |
DATA SNAP: UK 3Q GDP Revised Down To −0.6% QQ, +0.3% YY (Dow Jones)
The U.K. economy contracted by a downwardly revised 0.6% in the third quarter as the dominant service sector shrank at its fastest pace for 18 years, the Office for National Statistics said Wednesday.
[ Full Story ]- Economy contracts by 0.6% in Q3 2008 at Office for National Statistics
- UPDATE 1−UK Q3 GDP decline sharpest since 1990 (Thomson Financial News)
- INSTANT VIEW 6−UK Q3 final GDP revised down to −0.6 pct q/q (Thomson Financial News)
- 2nd UPDATE: UK 3Q GDP Revised Down To −0.6% QQ, +0.3% YY (Dow Jones)
EMU CURRENT ACCOUNT S.A
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Dec 23 | 09:00 | Current Account n.s.a | -4.8 | - | -4.2B |
| Dec 23 | 09:00 | Current Account s.a | -6.4B | - | -8.8B |
DATA SNAP: Euro−Zone Current Acct Deficit Narrowed In October (Dow Jones)
The euro zone's current account deficit narrowed in October as the combined direct and portfolio investment account showed net inflows.
[ Full Story ]- Euro area balance of payments (October 2008) at the ECB
- TABLE−Oct euro zone non−s/adjusted c/account gap up (Thomson Financial News)
- Euro Zone's current account deficit narrowed beyond expectations in October (FXstreet.com)
- EU: Current Account deficit s.a narrows to 6.4B in October vs 8.8B in September (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Dec 23 | 09:00 | EMU | Current Account s.a (Oct) | -6.4B | -8.8B |
|
| 09:30 | UK | BBA Mortgage Approvals (Nov) | 17.773K | 20.767K |
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| 09:30 | UK | Current Account (3Q) | £-7.7B | -£11.0B | ||
| 09:30 | UK | Gross Domestic Product (QoQ) (3Q) | -0.6% | -0.5% | 0.0% | |
| 09:30 | UK | Gross Domestic Product (YoY) (3Q) | 0.3% | 0.3% | 1.5% | |
| 09:30 | UK | Index of Services (Oct) | -0.2% | -0.6% | -0.5% |
|
| 13:30 | US | Gross Domestic Product Annualized (3Q) | -0.5% | 2.8% | ||
| 13:30 | US | Gross Domestic Purchases Price Index (3Q) | 4.7% | 4.2% | ||
| 13:30 | US | Personal Consumption (QoQ) (3Q) | -3.7% | 1.2% | ||
| 15:00 | US | Existing Home Sales (Nov) | 4.93M | 4.98M | ||