Friday, Jan 02, 12:07 GMT
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Forex Blogs
Chartology: Happy New Year!... and a few thoughts about '08 by Raghee Horner
2008 brought even more traders to the forex arena and I think it's safe to say that 2009 will be just a good as the popularity of forex grows and the public learns more about this marketplace. One thing that I continually found interesting was trader expectation. Remember nothing can go "too high" and zero is basically support.
FxBootcamp: Pre London Outlook For January 2nd 2009 by David R Pegler
Forex Trading Today: Quiet So Far on the 2009 Sea… by Tim Salem
Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Jan 5, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Jan 5, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jan 5, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Jan 5, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Jan 5, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN |  |
| Mon, Jan 5, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: Europe − U.S.
EUR/GBP
EURUSD dips keep turning into bounces so far
For whatever reason, the pound is seeing the majority of volatility among the major currencies over this holiday period, with EURGBP having swung wildly from all the way above 0.9800 to as low as 0.9440 in the Asian session before rallying sharply again in the European session to 0.9600 as of this writing.
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USD/JPY
Bank Recomendations − Recovery from 89.53 yen returns focus to 91.98 yen by Finotec Group Inc.
Recovery from 89.53 yen returns focus to 91.98 yen, although this needs to give way to relieve pressure on 89.53 yen and 88.43 yen.
EURO CROSSES
Daily FX Report − The EUR fell against the USD and the JPY by Varengold Wertpapierhandelsbank AG
The EUR fell against the USD and the JPY before today a European manufacturing report is expected to show the recession is deepening in the 16−nation region.
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 MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Jan 2 | 15:00 | ISM Manufacturing | - | 36.2 |
US economic indicators - ISM manufacturing index (Dec): again indicating recession in the overall economy by BHF−Bank
The ISM manufacturing index fell further to 36.2, thus signalling recession in the overall economy for the second consecutive month. The first regional manufacturing surveys stabilised at very low levels, and we therefore expect the ISM manufacturing index to have remained more or less unchanged in December.
[ Full Story ]Daily Forex Technical Report − Markets in Range as 2009 Starts, Focus on Manufacturing Data by ActionForex.com
Top Market Movers Review
UK HALIFAX HOUSE PRICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 2 | 10:00 | Halifax House Prices (YoY) | -16.2% | - | -14.9% |
| Jan 2 | 10:00 | Halifax House Prices (MoM) | -2.2% | - | -2.6% |
DATA SNAP: UK House Prices Continued To Tumble In Dec (Dow Jones)
U.K. house prices fell further in December, lender HBOS PLC (HBOS.LN) said Friday. The Halifax house price index declined 2.2% from November and was 16.2% lower than a year earlier, HBOS said. That compares with a 2.6% month−on−month drop in November and a fall of 14.9% on the year.
[ Full Story ]- Read the HPI data at Halifax
- UK's Nationwide says won't pass on further rate cuts (Thomson Financial News)
- UPDATE 1−UK house prices fall record 16.2 pct y/y in Dec (Thomson Financial News)
- UPDATE: UK House Prices Continued To Tumble In Dec (Dow Jones)
UK MORTGAGE APPROVALS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 2 | 09:30 | Mortgage Approvals | 27K | - | 31K |
UPDATE 1−UK mortgage approvals dive to record low in Nov (Thomson Financial News)
British mortgage approvals for house purchases fell in November to their lowest since records began a decade ago, data showed on Friday, putting further pressure on policymakers to get banks lending again.
[ Full Story ]- Read the Mortgage Approvals data at BoE
- INSTANT VIEW 5−UK mortgage approvals dive, credit set to tighten (Thomson Financial News)
- INSTANT VIEW 4−UK mortgage approvals dive, credit set to tighten (Thomson Financial News)
- INSTANT VIEW 3−UK mortgage approvals dive, credit set to tighten (Thomson Financial News)
EMU PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 2 | 09:00 | Purchasing Manager Index Manufacturing | 33.9 | - | 35.6 |
| Jan 2 | 08:55 | Purchasing Manager Index Manufacturing | 32.7 | - | 35.7 |
Euro−Zone Dec Mfg PMI Hits Record Low Of 33.9 −Sources (Dow Jones)
Manufacturing activity in the euro zone contracted for the seventh consecutive month in December, hitting a fresh record low. The purchasing managers' index for the euro zone's manufacturing sector fell to 33.9 in December from 35.6 in November, data from market sources showed Friday.
[ Full Story ]- Markit Economics homepage
- CORRECTED−INSTANT VIEW 4−Eurozone Dec factory PMI at 33.9, survey low (Thomson Financial News)
- UK Dec Mfg PMI 34.9 Vs Nov 34.4, Beats Expectations −Sources (Dow Jones)
- INSTANT VIEW 4−Eurozone Dec factory PMI at 33.9, survey low (Thomson Financial News)
Market Session Recaps - Asia Session by FOREX.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 2 | 09:30 | UK | Consumer Credit (Nov) | £0.75B | £0.75B |
|
| 09:30 | UK | M4 Money Supply (MoM) (Nov) | 1.2% | 2.8% | ||
| 09:30 | UK | M4 Money Supply (YoY) (Nov) | 16.6% | 15.3% | ||
| 09:30 | UK | Purchasing Manager Index Manufacturing (Dec) | 34.9 | 34.4 | ||
| 10:00 | UK | Halifax House Prices (MoM) (Dec) | -2.2% | -2.6% | ||
| 10:00 | UK | Halifax House Prices (YoY) (Dec) | -16.2% | -14.9% | ||
| 15:00 | US | ISM Manufacturing (Nov) | 36.2 | |||
| Jan 5 | 05:00 | JP | Vehicle Sales (YoY) (Dec) | -18.2% | ||
| 07:00 | DE | Retail Sales (MoM) (Nov) | -1.6% | |||
| 07:00 | DE | Retail Sales (YoY) (Nov) | -1.5% | |||