Tuesday, Jan 20, 12:02 GMT
U.S. Trading Newsletter
To Get Started
- Webinar VIDEOS: How to Survive and Prosper in 2009 Credit Crisis by John O'Donnell
- All the events of the day in our Economic Calendar
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Forex Blogs
The Advisor Blog: Eur/Usd for today by Valeria Bednarik
Clearly bearish, the pair has found a bottom @ 1.2920 and bounced back a bit, as short term charts were over sold, yet far form a larger correction. Under actual minimum next supports will be at 1.2892, followed by the zone @ 1.2850, and then 1.2790/1.2810 zone. Above 1.2990, the pair could attempt a rise, yet must break above 1.3045/60 zone to continue in that direction, with next resistance at 1.3104.
The Trader's Edge - Snapshot - NZD/JPY by Ross Yamashita
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Live Sessions Schedule
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, Jan 20, 16:00 GMT
Type of Session: Webinar
Selling Covered Options in the Forex
Expert: John Jagerson
Start: Tue, Jan 20, 17:00 GMT
Type of Session: Webinar
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| Tue, Jan 20, 12:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, Jan 20, 13:30 GMT | Convergence & Divergence | Adam Rosen | WBN |  |
| Tue, Jan 20, 15:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
| Tue, Jan 20, 16:00 GMT | Trading with Autochartist | Raghee Horner | WBN | |
Current Session: Europe − U.S.
The GBP/USD fell to its lowest level in more than six years
Varengold Wertpapierhandelsbank AG − The GBP/USD dropped 1.0 % from 1.4420 to 1.4277, after touching a low at 1.4248, which was the lowest level since March 2002. After the news from U.K. and the losses on Tokyo stock exchange, the JPY rose to a record high against the GBP. GBPJPY touched its new all−time low at 127.44.
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Daily Trading Forecast − The pair continues to move into deeply oversold condition in early European trading by Swiss e Trade AG
The pair continues to move into deeply oversold condition in early European trading and is currently priced at 1.2950. The ZEW came in better than expected early this morning but failed to move the euro.
Daily Analysis − The Pound declines against the Euro and the yen as the UK is deemed a risk by Finotec Group Inc.
The pound dropped to a record low versus the yen and the weakest level since 2002 against the dollar on concern the government will have to rescue more banks as the economy slips into a recession.
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
Canada BOC INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Jan 20 | 14:00 | BoC Interest Rate Decision | 1.0% | 1.5% |
Trading News Report - USD/CAD: Trading the Bank of Canada Interest Rate Decision by FXCM
The Canadian dollar is likely to face increased selling pressures over the next 24 hours of trading as the Bank of Canada is widely expected to lower the benchmark interest rate by 50bp to a record low of 1.00% as the world's eighth largest economy faces a recession for the first time in over a decade.
[ Full Story ]- Closing Market Recap: Negative Sentiment Builds Ahead of BOC and Obama (CEP News)
- CA Preview: BOC Likely to Cut Target Rate 50 Bps or More (CEP News)
Canada: BOC to cut rates 50 bps to 1% Tuesday by Easy Forex
Bank of Canada will announce rate decision today by ActionForex.com
Top Market Movers Review
Germany ZEW SURVEY − ECONOMIC SENTIMENT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 20 | 10:00 | ZEW Survey − Economic Sentiment | -31.0 | -42.5 | -45.2 |
German ZEW index rises more than expected in Jan (Thomson Financial News)
German analyst and investor sentiment on the outlook for Europe's biggest economy improved by more than expected in January, a survey showed on Tuesday. The Mannheim−based ZEW economic think tank's monthly poll of economic sentiment rose to −31.0 from −45.2 in December.
[ Full Story ]- Read the Economic Sentiment data at ZEW
- TOPWRAP 2−German data fail to lift gloom, world waits on Obama (Thomson Financial News)
- INSTANT VIEW 4−German ZEW index rises more than expected (Thomson Financial News)
- INSTANT VIEW 3−German ZEW index rises more than expected (Thomson Financial News)
Germany's ZEW should have improved for the third consecutive month by ActionForex.com
UK CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 20 | 09:30 | Consumer Price Index (MoM) | -0.4% | -0.9% | -0.1% |
| Jan 20 | 09:30 | Retail Price Index (YoY) | 0.9% | 0.6% | 3.0% |
| Jan 20 | 09:30 | Retail Price Index (MoM) | -1.4% | -1.7% | -0.8% |
| Jan 20 | 09:30 | Consumer Price Index (YoY) | 3.1% | 2.6% | 4.1% |
| Jan 20 | 09:30 | Core Consumer Price Index (YoY) | 1.1% | 1.5% | 2.0% |
UK Consumer Prices Index decline at fast pace in December (FXstreet.com)
Inflation at consumer level is going through a fast easing pace, since oil prices started to plummet worldwide, and the VAT rate was lowered. although the year on year CPI still remains over the 2.0% upper band of the BoE's range for price stability.
[ Full Story ]- Read the CPI data at UK Statistics
- INSTANT VIEW 7−UK inflation drops less than expected in Dec (Thomson Financial News)
- UPDATE 1−UK Dec CPI falls steeply, but less than expected (Thomson Financial News)
- INSTANT VIEW 6−UK inflation drops less than expected in Dec (Thomson Financial News)
UK, December's CPI probably fell deeper by −0.8% mom by ActionForex.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 20 | 09:30 | UK | Consumer Price Index (MoM) (Dec) | -0.4% | -0.9% | -0.1% |
| 09:30 | UK | Consumer Price Index (YoY) (Dec) | 3.1% | 2.6% | 4.1% | |
| 09:30 | UK | Core Consumer Price Index (YoY) (Dec) | 1.1% | 1.5% | 2.0% | |
| 09:30 | UK | Retail Price Index (MoM) (Dec) | -1.4% | -1.7% | -0.8% | |
| 09:30 | UK | Retail Price Index (YoY) (Dec) | 0.9% | 0.6% | 3.0% | |
| 10:00 | DE | ZEW Survey − Economic Sentiment (Dec) | -31.0 | -42.5 | -45.2 | |
| 13:30 | CA | Manufacturing Shipments (MoM) (Nov) | -0.5% | -0.5% | ||
| 14:00 | CA | BoC Interest Rate Decision | 1.0% | 1.5% | ||
| 17:00 | US | Obama Inauguration as 44th President | ||||
| 20:20 | UK | BoE's Governor King Speech | ||||