Wednesday, Jan 21, 12:17 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
1st on Forex: Obama Takes Office as Banking Crisis Looms Large by Jerry Furst
US financial stocks opened lower souring inauguration elation on the financial networks. This after the UK signaled it was considering taking the drastic act of nationalising banks and quantatitative easing. Speculation that the UK might lose it's AAA rating come after Spain sufferred just such a downgrade.
FX Market Readings: Trend reversals moves are seen by Dr.S. Sivaraman
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Live Sessions Schedule
Main Fundamental theme in the Currency market
Expert: Terri Belkas
Start: Wed, Jan 21, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, Jan 21, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jan 21, 14:00 GMT | Main Fundamental theme in the Currency market | Terri Belkas | WBN | |
| Wed, Jan 21, 15:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
| Wed, Jan 21, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN | |
| Wed, Jan 21, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
Current Session: Europe − U.S.
Euro Pummeled Again, EUR / USD 1.2600 in Sight
(Swiss e Trade AG) −The pair recovered in early European trading, currently priced at 1.2935. We do not see yesterday's low support point at 1.2850 being tested again, but expect some weakness first in today's trading. Then another recovery attempt can set in, leading to resistance for today at 1.2980.
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Daily Analysis − The Sterling falls even further against the Dollar on UK woes by Finotec Group Inc.
The British pound fell to a record low against the yen and the weakest since 2001 versus the dollar on concern the U.K. recession will deepen, supporting the case for the Bank of England to cut interest rates further.
Daily FX Report − EUR/GBP rose from 0.9262 to 0.9293 by Varengold Wertpapierhandelsbank AG
Since the beginning of November the EUR/GBP has been moving in Fibonacci retracement lines. After the pair started to fall at the beginning of the year from its high, it touched the 50% retracement twice and pulled back to the 76.4 % resistance level.
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 NAHB HOUSING MARKET INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Jan 21 | 18:00 | NAHB Housing Market Index | 9 | 9 |
Friday Notes - Builders fear ongoing contraction in demand by UniCredit Group
Builders see scant demand for new homes. They cite fear among prospective buyers about job stability and the potential for further declines in housing prices, worsened by the continuing flow of existing homes coming on the market from foreclosures.
[ Full Story ]Top Market Movers Review
UK BANK OF ENGLAND MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 21 | 09:30 | Bank of England Minutes | - | - | - |
BoE approved 50 BP rate cut buy 8 to 1 (FXstreet.com)
The last interest rate cut by the Bank of England, which lowered Bank Rate by 50 Bps to 1.5% was approved by 8 votes to 1 with David Blanchflower in favour of 100 bps rate cut, according to the minutes of January the 7th and 8th meeting.
[ Full Story ]- Read full Report at BoE
- UPDATE: BOE: MPC Voted 8−1 For 50BP Cut, Blanchflower For 100BP (Dow Jones)
- INSTANT VIEW 4−BoE voted 8−1 for 50 bps Jan rate cut (Thomson Financial News)
- INSTANT VIEW 3−BoE voted 8−1 for 50 bps Jan rate cut (Thomson Financial News)
BOE will release MPC minutes for the meeting on Jan 8 by ActionForex.com
UK ILO UNEMPLOYMENT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 21 | 09:30 | Claimant Count Rate | 3.6% | 3.5% | 3.3% |
| Jan 21 | 09:30 | Jobless Claims Change | 77.0K | 80.0K | 83.1K |
| Jan 21 | 09:30 | ILO Unemployment Rate (3M) | 6.1% | 6.1% | 6.0% |
DATA SNAP: UK Dec Jobless Rises For 11th Straight Month (Dow Jones)
The U.K.'s claimant count jobless figure rose for the eleventh consecutive month in December and looks set to rise further as the economic slowdown weighs on the labor market, data from the Office for National Statistics showed Wednesday.
[ Full Story ]- Read the Employment data at UK Statistics
- UPDATE 1−UK public debt balloons, unemployment surges (Thomson Financial News)
- UK Unemployment continued growing in December (FXstreet.com)
- TABLE−UK jobless surges, wages growth slows (Thomson Financial News)
Trading News Report - GBP/USD: Trading the U.K. Jobless Claims Report by FXCM
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 21 | 09:30 | UK | Average Earnings excluding Bonus (3Mo/Yr) (Nov) | 3.6% | 3.6% | 3.6% |
| 09:30 | UK | Bank of England Minutes | ||||
| 09:30 | EMU | ECB Trichet's Speech | ||||
| 09:30 | UK | ILO Unemployment Rate (3M) (Dec) | 6.1% | 6.1% | 6.0% | |
| 09:30 | UK | M4 Money Supply (YoY) (Dec)  | 16.6% | 16.6% | ||
| 09:30 | UK | M4 Sterling Lending (Dec) | £15.5 | £16.0B | ||
| 13:30 | CA | Wholesale Sales (MoM) (Nov) | -1.8% | |||
| 15:00 | US | Fed's Geithner Speaks | ||||
| 18:00 | US | NAHB Housing Market Index (Jan) | 9 | 9 | ||
| 23:50 | JP | Adjusted Merchandise Trade Balance (Dec) | -¥322.5B | -¥367.6B | ||