Friday, Jan 23, 11:50 GMT
U.S. Trading Newsletter
To Get Started
- Webinar VIDEOS: Rule Based Short Term Trading In Forex by Sam Seiden
- All the events of the day in our Economic Calendar
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Forex Blogs
The Advisor Blog: Is Gbp lost? by Valeria Bednarik
At this point, seems nothing can save the Gbp. From the technical perspective, we have already been seeing chances of this recent rally to the downside, as is shameless breaking historical minimums, without even noticing they are there.
FX Market Readings: Week end expected moves by Dr.S. Sivaraman
Sponsored by 
Live Sessions Schedule
Main Fundamental theme in the Currency market
Expert: Terri Belkas
Start: Fri, Jan 23, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, Jan 23, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Jan 23, 12:00 GMT | Trading systems involving Moving Averages  | Valeria Bednarik | WBN |  |
| Fri, Jan 23, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Fri, Jan 23, 14:00 GMT | FX Market Pulse | Raghee Horner | WBN | |
| Fri, Jan 23, 14:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe − U.S.
EUR / USD About to Test 1.2690
(Swiss e Trade AG) − Short term, the EUR / USD pair is about to end a confirmation signal for its downtrend in European morning trading. We expect the USD to develop some further strength in today's trading in the major pairs. The support zone at 1.2850 for the pair has been broken on the downside in European morning with the market now at 1.2790. An intermediate up correction could set in now, but we see further downmoves setting in today, eventually testing the 1.2690 support level.
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Daily Recommended Trades − Sterling slipped again on concerns about recession in the UK by Finotec Group Inc.
Sterling slipped again on Thursday, trading low against the dollar on concern that the UK is heading for a deep financial crisis while the economy heads towards a recession.
Trading News Report − The JPY rose to a record high versus the GBP by Varengold Wertpapierhandelsbank AG
The GBP/JPY fell to 122.60 after touching its all−time low at 119.43 on Wednesday. The JPY was little changed versus the USD at 88.96, after touching its lowest level since July 1995 at 87.12 from January 21st.
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 CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Jan 23 | 12:00 | Bank of Canada Consumer Price Index Core (YoY) | - | 2.4% |
| Jan 23 | 12:00 | Bank of Canada Consumer Price Index Core (MoM) | - | 0.5% |
| Jan 23 | 12:00 | Consumer Price Index (YoY) | - | 2% |
| Jan 23 | 12:00 | Consumer Price Index (MoM) | - | -0.3% |
CA Preview: Falling Gas Prices Expected To Pull Down Inflation Rate (CEP News)
Canada's headline inflation rate is expected to have plunged in December to its lowest level since January 2007, pulled down by declining gas prices and pre−Christmas retail discounting.
[ Full Story ]Canada CPI anticipated to come in at −0.4% mom by ActionForex.com
Top Market Movers Review
UK GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 23 | 09:30 | Gross Domestic Product (QoQ) | -1.5% | -1.2% | -0.6% |
| Jan 23 | 09:30 | Gross Domestic Product (YoY) | -1.8% | -1.4% | -0.3% |
DATA SNAP: UK 4Q GDP Contracts 1.5%; UK In Recession (Dow Jones)
The U.K. has officially entered a recession, with output contracting a massive 1.5% in the fourth quarter after a 0.6% fall between July and September, the Office for National Statistics said Friday.
[ Full Story ]- Read the GDP data at UK Statistics
- UPDATE 1−UK downturn sharper than expected − Darling (Thomson Financial News)
- UK downturn sharper than many expected − Darling (Thomson Financial News)
- UPDATE 3−UK in recession after fastest GDP fall since 1980 (Thomson Financial News)
Daily Forex Technical Report − Sterling in Range, Await GDP to Confirm Recession by ActionForex.com
Trading News Report - GBP/USD: Trading the U.K. Gross Domestic Product by FXCM
EMU PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 23 | 09:00 | Purchasing Manager Index Services | 42.5 | 41.7 | 42.1 |
| Jan 23 | 09:00 | Purchasing Manager Index Manufacturing | 33.0 | 33.5 | 33.9 |
DATA SNAP: Euro−Zone Economy Continued To Shrink In Jan (Dow Jones)
The euro−zone economy continued to contract as 2009 began, but less severely than in December, according to surveys of purchasing managers at manufacturers and service providers.
[ Full Story ]- Markit Economics homepage
- TOPWRAP 3−European, UK data shows economies in recession (Thomson Financial News)
- UPDATE 1−Euro zone PMIs hint at some stabilisation in Jan (Thomson Financial News)
- UPDATE: Euro−Zone Economy Continued To Shrink In Jan (Dow Jones)
Eurozone's PMI manufacturing and service are expected to have dropped further by ActionForex.com
EMU economic indicators - PMI manufacturing indices Germany and EMU (January): down by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 23 | 09:00 | EMU | Purchasing Manager Index Manufacturing (Jan)  | 33.0 | 33.5 | 33.9 |
| 09:30 | UK | Gross Domestic Product (QoQ) (4Q) | -1.5% | -1.2% | -0.6% | |
| 09:30 | UK | Gross Domestic Product (YoY) (4Q) | -1.8% | -1.4% | -0.3% | |
| 09:30 | UK | Index of Services (Nov) | -0.4% | -0.3% |
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| 09:30 | UK | Retail Sales (MoM) (Dec) | 1.6% | -0.7% | 0.3% | |
| 09:30 | UK | Retail Sales (YoY) (Dec) | 4.0% | 1.6% | 1.3% |
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| 12:00 | CA | Bank of Canada Consumer Price Index Core (MoM) (Dec) | 0.5% | |||
| 12:00 | CA | Bank of Canada Consumer Price Index Core (YoY) (Dec) | 2.4% | |||
| 12:00 | CA | Consumer Price Index (MoM) (Dec) | -0.3% | |||
| 12:00 | CA | Consumer Price Index (YoY) (Dec) | 2% | |||