Thursday, Jan 08, 11:43 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 charts by Valeria Bednarik
If you draw a Fibonacci retracement in monthly charts, from the maximum at 1.6038 to 1.2330, there are some interesting things we can notice: the huge spike to 1.4700 zone represents a 61.8% correction of that monthly rally, and by this time, the pair remains contained under the 38.2% @ 1.3740...
Forex Trading Today: The Aussie Waves Quieting Down on my Surfing Trip by Tim Salem
The Disciplined Trader: More evidence that group psychology moves the market... Not economic factors! by Pierre Charlebois
Live Sessions Schedule
The World of Forex Breakout Trading
Expert: James Chen
Start: Thu, Jan 8, 14:00 GMT
Type of Session: Webinar
How to Get Started Trading Forex
Expert: Mark Whistler
Start: Thu, Jan 8, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jan 8, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Jan 8, 14:00 GMT | The World of Forex Breakout Trading | James Chen | WBN |  |
| Thu, Jan 8, 15:00 GMT | Tracking the forex market together / Part II | Dr.S.Sivaraman | WBN | |
| Thu, Jan 8, 16:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN | |
Current Session: Europe − U.S.
The British pound may rise above 1.55 says Citigroup
(Finotec Group Inc.) − The British pound may rise 4.4 percent against the dollar to $1.5724 should the currency close above so− called resistance at $1.5165, technical analysts at Citigroup Global Markets Inc. said. The resistance level represents the 55−day moving average, which has curbed gains in the pound since the start of August 2008, wrote New York−based Tom Fitzpatrick and London−based Shyam Devani in a research note yesterday.
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Daily Trading Forecast − Focus on Central Banks by Swiss e Trade AG
The pair is losing ground in early European trading, currently priced at 1.3560. We see the mild downtrend continuing today, with up movements limited to 1.3620, eventually breaking the 1.3500 level on the downside.
Daily Forex News − Forex − Dollar reversed gains early week gains after weaker ADP report by ACM − Advanced Currency Markets
UsdJpy broke out the 4−month downtrend upper trendline and hit 94.64 high on Tuesday. Initial resistance holds 96.13 (38.2% retracement of 110.67 – 87.14 decline).
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
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Jan 8 | 12:00 | BoE Interest Rate Decision | 1.5% | 2.0% |
Trading News Report - GBP/USD: Trading the Bank of England Interest Rate Decision by FXCM
Expectations for lower borrowing costs could weigh on the British pound as economists anticipate the Bank of England to cut the benchmark interest rate by another 50bp to 1.50%, which would be the lowest since the central bank was given the authority to set interest rate policy in 1870.
[ Full Story ]- CURRENCIES: Sterling Mixed Ahead Of Bank Of England Rate Decision (Dow Jones)
- GLOBAL MARKETS−Stocks and metals fall, sterling focus on BoE (Thomson Financial News)
Daily Forex News - Forex − Dollar reversed gains early week gains after weaker ADP report by ACM − Advanced Currency Markets
Daily Market Briefing - British Pound Remains Strong Despite Signs of Impending BOE Rate Cut on Thursday by FXCM
Top Market Movers Review
EMU GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 8 | 10:00 | Gross Domestic Product s.a. (YoY) | 0.6% | 0.6% | 0.6% |
| Jan 8 | 10:00 | Gross Domestic Product s.a. (QoQ) | -0.2% | -0.2% | -0.2% |
Euro Zone GDP decreases in the third quarter for second consecutive time (FXstreet.com)
As previously estimated Euro Zone's economy has officially entered into recession in the thir5d quarter of the year, as the Gross Domestic Product shrunk for second consecutive quarter weighed by weak foreign trade figures and slumping industrial production.
[ Full Story ]- TABLE−Euro zone GDP down 0.2 pct q/q in Q3 2008 (Thomson Financial News)
- EU Gross Domestic Product s.a. declines 0.2% in 3Q; 0.6% up year on year (FXstreet.com)
EMU CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 8 | 10:00 | Consumer Confidence | -30 | -26 | -25 |
| Jan 8 | 10:00 | Economic Confidence | 67.1 | 72.0 | 74.9 |
| Jan 8 | 10:00 | Industrial Confidence | -33 | -30 | -25 |
DATA SNAP: Euro−Zone Confidence Hit Record Low In Dec (Dow Jones)
Business and consumer confidence in the 15 countries that then used the euro collapsed in December hitting their weakest levels since the European Commission began its survey of sentiment in January 1985.
[ Full Story ]- INSTANT VIEW 8−Euro zone econ sentiment hits new low in Dec (Thomson Financial News)
- INSTANT VIEW 7−Euro zone econ sentiment hits new low in Dec (Thomson Financial News)
- INSTANT VIEW 6−Euro zone econ sentiment hits new low in Dec (Thomson Financial News)
EMU economic indicators - EMU industrial confidence and economic sentiment (December): down by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 8 | 10:00 | EMU | Consumer Confidence (Dec) | -30 | -26 | -25 |
| 10:00 | EMU | Economic Confidence (Dec) | 67.1 | 72.0 | 74.9 | |
| 10:00 | EMU | Gross Domestic Product s.a. (YoY) (3Q) | 0.6% | 0.6% | 0.6% | |
| 10:00 | EMU | Unemployment Rate (Nov) | 7.8% | 7.8% | 7.7% | |
| 11:00 | DE | Factory Orders n.s.a. (YoY) (Nov) | -27.2% | -19.7% | -17.5% |
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| 11:00 | DE | Factory Orders s.a. (MoM) (Nov) | -6.0% | -1.6% | -6.3% |
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| 12:00 | UK | BoE Interest Rate Decision | 1.5% | 2.0% | ||
| 13:30 | US | Continuing Jobless Claims (Dec 27) | 4506K | |||
| 13:30 | US | Initial Jobless Claims (Jan 3) | 540M | 492K | ||
| 15:00 | CA | Ivey Purchasing Managers Index (Dec) | 37.5 | 40.2 | ||