Tuesday, Jan 06, 12:25 GMT
U.S. Trading Newsletter
To Get Started
- Webinar VIDEOS: Doing Dealer Due Diligence by John Jagerson
- All the events of the day in our Economic Calendar
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Forex Blogs
The Advisor Blog: Eur/Usd preparing to continue down by Valeria Bednarik
If you wonder how much do technicals work, see how the 200 EMA was respected yesterday by the pair, till finally get broken in the last 4 hours candle (as I always said, no support or resistance, not matter if static or dynamic, will hold for ever) and also the base of the channel is being vulnerate right now...
FX Market Readings: What is happening in the market for month beginning? by Dr.S. Sivaraman
Forex Trading Today: EUR/USD Continues To Ski Down the Slope by Tim Salem
Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, Jan 6, 15:00 GMT
Type of Session: Webinar
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, Jan 6, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Jan 6, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Jan 6, 14:00 GMT | New Year's trading resolutions | Adam Rosen | WBN |  |
| Tue, Jan 6, 15:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
| Tue, Jan 6, 16:00 GMT | Trading with Autochartist | Raghee Horner | WBN | |
Current Session: Europe − U.S.
The Euro weakens as the slump continues on the continent
Finotec Group Inc. − The euro may fall to 87.50 British pence over the next three months, Standard Chartered Plc forecast, citing technical charts that predict price movements. Daily momentum indicators such as the relative strength index and the stochastic oscillator charts are "turning bearish, favoring downside retracement," Callum Henderson, head of global currency strategy at Standard Chartered in Singapore, wrote in a research note today.
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USD/CHF
FX Thoughts for the Day − USDCHF in bull run by Kshitij Consultancy Service
Swiss has risen past the 21−month MA and is now holding on firmly above that level. As the pair continues to take Support at the 21−day MA at 1.1085, a rise towards 1.13 cannot be ruled.
USD/JPY
The dollar strengthened further against the yen by Swiss e Trade Strategy Team
The dollar strengthened further against the yen in early European trading, after having broken the 93.50 resistance level, which now becomes support in today's trading.
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 NON−MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| Jan 6 | 15:00 | ISM Non−Manufacturing | 37.0 | 37.3 |
Daily Market Briefing - US Dollar Ends Day Mixed, Could See Directional Moves on Releases of ISM Services, FOMC Minutes by FXCM
The US dollar will see a pick up in event risk tomorrow. At 10:00 ET, a gauge of conditions in US non−manufacturing sector − which accounts for approximately 70 percent of total economic activity in the country and includes retail, services, and finance − is anticipated to have worsened in December as the ISM index is estimated to fall to another record low of 37.0 from 37.3.
[ Full Story ]US ISM non−manufacturing probably fell to 37 by ActionForex.com
US economic indicators - ISM non−manufacturing index (December): remaining deeply in contraction zone by BHF−Bank
Top Market Movers Review
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 6 | 10:00 | Consumer Price Index (YoY) | 1.6% | 1.8% | 2.1% |
Euro zone inflation plunges to 1.6 pct in Dec (Thomson Financial News)
Euro zone inflation plunged more than expected to a 26−month low in December, the European Union's statistics office said on Tuesday, raising expectations of another European Central Bank interest rate cut next week.
[ Full Story ]- Read the CPI data at Eurostat
- INSTANT VIEW 6−Euro zone Dec inflation 1.6 pct, 26−month low (Thomson Financial News)
- UPDATE 1−Euro zone inflation plunges, hits euro on ECB cut view (Thomson Financial News)
- INSTANT VIEW 5−Euro zone Dec inflation 1.6 pct, 26−month low (Thomson Financial News)
Trading News Report - EUR/USD: Trading the Euro−Zone CPI Estimate by FXCM
Daily Market Briefing - Euro Tumbles on Dovish ECB Comments, Euro−zone CPI Could Exacerbate Sentiment on Tuesday by FXCM
EMU economic indicators - EMU inflation flash estimate (December): down to 1.6% yoy by BHF−Bank
UK PURCHASING MANAGER INDEX SERVICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 6 | 09:30 | Purchasing Manager Index Services | 40.2 | 40.1 | 40.1 |
INSTANT VIEW 8−UK Dec services PMI edges up from record low (Thomson Financial News)
British service sector activity shrank at a near−record pace in December and the climate for jobs is the worst on record, the monthly PMI survey by the Chartered Institute for Purchasing and Supply showed on Tuesday.
[ Full Story ]- Markit Economics homepage
- UPDATE 1−UK service sector shrinks at near−record pace in Dec (Thomson Financial News)
- INSTANT VIEW 6−UK Dec services PMI edges up from record low (Thomson Financial News)
- INSTANT VIEW 5−UK Dec services PMI edges up from record low (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 6 | 07:00 | UK | Nationwide Housing Prices s.a (MoM) (Dec) | -2.5% | -1.5% | -0.4% |
| 07:05 | UK | Nationwide Housing Prices n.s.a (YoY) (Dec) | -15.9% | -14.7% | -13.9% | |
| 08:55 | DE | Purchasing Manager Index Services (Dec) | 46.6 | 46.4 | 45.1 | |
| 09:00 | EMU | Purchasing Manager Index Services (Dec) | 42.1 | 42.0 | 42.5 | |
| 09:30 | UK | Purchasing Manager Index Services (Dec) | 40.2 | 40.1 | 40.1 | |
| 10:00 | EMU | Consumer Price Index (YoY) (Dec)  | 1.6% | 1.8% | 2.1% | |
| 13:30 | CA | Industrial Product Price (MoM) (Nov) | -1% | 0% | ||
| 15:00 | US | Factory Orders (Nov) | -2.3% | -5.1% | ||
| 15:00 | US | ISM Non−Manufacturing (Dec) | 37.0 | 37.3 | ||
| 15:00 | US | Pending Home Sales (MoM) (Nov) | -1.0% | -0.7% | ||