Wednesday, Jan 07, 12:18 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: Gbp/Usd for the next hours by Valeria Bednarik
The pair remains bullish and see this flag the pair is forming in 4 hours charts: that's usually a continuation figure, so follow next candle open: if the pair manages to open above it, 1.4970 or so, the pair could easily continue to the upside...
The Trader's Edge: USD/JPY Update by Ross Yamashita
FXbootcamp: Pre London Outlook For January 7th 2009 by David R Pegler
Live Sessions Schedule
Main technical theme in the currency market
Expert: Jamie Saettele
Start: Wed, Jan 7, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, Jan 7, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jan 7, 14:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN | |
| Wed, Jan 7, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN |  |
| Wed, Jan 7, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, Jan 8, 11:00 GMT | Tracking the forex market together / Part I | Dr.S.Sivaraman | WBN | |
Current Session: Europe − U.S.
EUR/USD
(Swiss e Trade AG) − The upmove the pair began yesterday continued in early European trading. With current prices at 1.3580, the market will soon meet stiff resistance between 1.3600 and 1.3650. We see that resistance holding in today's trading, allowing down− and upswings within a trading range between that level on the upside and 1.3490 on the downside.
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EUR/JPY
Daily FX Report − AUD/JPY and NZD/JPY rose to its highest level since November 2008 by Varengold Wertpapierhandelsbank AG
EUR/JPY weakened as derivatives showed that some investors are betting the ECB will lower its key interest rate next week. The EUR fell versus JPY 1.74 percent to 125.10 at its low on Wednesday.
Weekly Analysis
Weekly Update − The euro begins the New Year at 3−week lows vs. the dollar by Union Bank of California
America's currency finished the week and the year on a relatively quiet note, though the greenback's potential energy is extremely high as it stands at the brink of significant breakouts ahead of a week full of scheduled event risk.
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 ADP EMPLOYMENT CHANGE
| Date (GMT) | Event | Cons. | Previous | |
| Jan 7 | 13:15 | ADP Employment Change | -450K | -250K |
US economic indicators - Labour market (December): unemployment rate could jump to 7.0% by BHF−Bank
The ADP November report initially announced a decline of 250k private jobs, but this was changed to –472k jobs in the benchmark revision. The ADP figures are now more in line with the official Labour Department figures. We forecast that ADP private employment will have fallen by 480k in December.
[ Full Story ]Daily Forex Technical Report − Dollar Mixed as Markets Driven by Euro Crosses by ActionForex.com
Forex Trading Strategies - The greenback's rally stalls after gloomy FOMC minutes, weak data by Saxo Bank
Top Market Movers Review
EMU PRODUCER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 7 | 10:00 | Producer Price Index (YoY) | 3.3% | 4.5% | 6.3% |
| Jan 7 | 10:00 | Producer Price Index (MoM) | -1.9% | -0.9% | -0.8% |
DATA SNAP: Euro−Zone Producer Prices Post Record Drop In Nov (Dow Jones)
Euro−zone producer prices fell at their sharpest rate on record in November following the biggest drop in energy prices for at least 18 years, official data showed Wednesday, adding to the case for the European Central Bank to cut interest rates at its next policy meeting Jan. 15.
[ Full Story ]- Read the PPI data at Eurostat
- UPDATE 1−Euro zone PPI in record fall, firms case for rate cut (Thomson Financial News)
- UPDATE: Record Euro−Zone PPI Drop Paves Way For ECB Rate Cut (Dow Jones)
- INSTANT VIEW 2−Euro zone PPI drops more than expected m/m (Thomson Financial News)
Germany UNEMPLOYMENT RATE S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 7 | 08:55 | Unemployment Rate s.a. | 7.6% | - | 7.6% |
| Jan 7 | 08:55 | Unemployment Change | 18K | 10K | -4K |
UPDATE 1−German jobless up for first time in nearly 3 yrs (Thomson Financial News)
German unemployment rose by a bigger−than−expected 18,000 in December, the first increase since February 2006 and a signal that a three−year downturn in joblessness is ending in the face of economic turmoil.
[ Full Story ]- Read the Employment data at Bundesagentur für Arbeit [text in German]
- UPDATE 2−German unemployment rise snaps 3−yr downtrend (Thomson Financial News)
- TOPWRAP 3−Germany adds to global job woes, Europe shares down (Thomson Financial News)
- TABLE−German adj jobless total rises in December (Thomson Financial News)
Daily Forex Technical Report − Dollar Mixed as Markets Driven by Euro Crosses by ActionForex.com
EMU economic indicators - German adjusted unemployment (December): beginning to rise by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 7 | 08:55 | DE | Unemployment Rate s.a. (Dec) | 7.6% | 7.6% |
|
| 09:00 | TW | CBC (Taiwan) Interest Rate Decision | 1.5% | 2.0% | ||
| 10:00 | EMU | Producer Price Index (MoM) (Nov) | -1.9% | -0.9% | -0.8% | |
| 10:00 | EMU | Producer Price Index (YoY) (Nov) | 3.3% | 4.5% | 6.3% | |
| 10:30 | UK | BRC Shop Price Index (YoY) (Dec) | 0.5% | 2.7% | ||
| 12:00 | US | MBA Mortgage Applications (Jan 2) | -8.2% | 0.0% | ||
| 13:15 | US | ADP Employment Change (Dec) | -450K | -250K | ||
| 15:30 | US | EIA Crude Oil Stocks change (Jan 3) | 0.5M | |||
| Jan 8 | 00:30 | AU | Building Permits (MoM) (Nov) | -5.4% | ||
| 00:30 | AU | Building Permits (YoY) (Nov) | -26% | |||