Wednesday, Sep 02, 11:10 GMT
U.S. Trading Newsletter
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To Get Started
- Don't miss the Non-farm Payrolls Live Coverage Special 40th edition. With Wayne McDonell. Amazing prizes awaiting for you!
- Forex Trading Workshop - London – 20th & 21st September 2009, conducted by Fibonacci expert Sunil Mangwani
- New Blogger in town! We are very glad to introduce you César B. Leiceaga and his Tech Trading blog
- WEBINAR VIDEOS: The End of the Dollar Asset Bubble by Joseph Trevisani
- All the events of the day in our Economic Calendar
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Forex Blogs
CEO's Weblog: Foreign Exchange 2009 − Currency trading down by nearly a quarter by Francesc Riverola
Currency trading volumes have slumped by nearly a quarter from record levels, according to a report published Tuesday.
International Financial Services London, in an analysis of spot trading, forwards and currency swaps, said average daily trading fell to $2.86 trillion in April from $3.71 trillion in the same month last year, down about 23%.
Tech Trading: GBP/JPY Daily chart by César B. Leiceaga
The Trader's Edge: EUR/USD Outlook by Ross Yamashita
Sponsored by 
Live Sessions Schedule
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, Sep 2, 14:00 GMT
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, Sep 2, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Sep 2, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN |  |
| Wed, Sep 2, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
| Wed, Sep 2, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN | |
| Wed, Sep 2, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
Current Session: Europe − U.S.
GBPUSD: Weakens, Closes In On The 1.5982 Level
FXTechstrategy − With price collapse taking out the 1.6152 level, its Aug 27'09 low on Tuesday, GBP remains susceptible to the downside in the nearer term and now looks to head towards it strong support standing at the 1.5982 level, its July 08'09 low and then the 1.5798 level, its July 08'09 low. Its daily RSI which is now bearish and trending lower is supportive of this view. On the other hand, stopping its current weakness will pave the way for a challenge initially on its Aug 28'09 high at 1.6379 followed by the 1.6622 level, its Aug 16'09 high with a loss of there targeting the 1.6742 level, its July 30'09 high and next the 1.7000 level.
EUR/USD
The price of this pair appears to be floating in the over−bought territory by ForexYard
The price of this pair appears to be floating in the over−bought territory on the daily chart's RSI indicating downward correction may be imminent.
USD/JPY
Forex: USD/JPY: Dollar hits a fresh 6−week low at 92.35 by FXstreet.com
The Yen is being favoured on renewed risk aversion, and USD/JPY extended downtrend reaching a fresh six−week low at 92.35 during European session.
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 NONFARM PRODUCTIVITY
| Date (GMT) | Event | Cons. | Previous | |
| Sep 2 | 12:30 | Unit Labor Costs | -5.3% | -2.7% |
| Sep 2 | 12:30 | Nonfarm Productivity | 6.1% | 0.3% |
US economic indicators - Non−farm productivity is likely to have risen by BHF−Bank
Given the upward revision in non−farm business gross value added from –1.7% to –1.5%, non−farm productivity is likely to have risen by 6.5% qoq (instead of 6.4% qoq), and unit labour costs may have fallen by 5.9% (instead of 5.8%) in Q2. The yearly rise in productivity has probably been 1.8 %, while unit labour costs might have fallen by 0.6%.
[ Full Story ]Top Market Movers Review
EMU PRODUCER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 2 | 09:00 | Producer Price Index (YoY) | -8.5% | -8.6% | -6.6% |
Top Fundamental Stories - Euro Zone GDP Unchanged While PPI Resumes Plummet by ecPulse.com
[ Full Story ]- Read the PPI data at Eurostat
- UPDATE: Euro−Zone Producer Prices Post Record Drop In July (Dow Jones)
- Euro Zone PPI down 8.5% YoY in Jul (FXstreet.com)
- DATA SNAP: Euro−Zone Producer Prices Post Record Drop In July (Dow Jones)
Top Fundamental Stories - Europe Ahead: Unemployment Inclines in Euro Zone, While PMI Manufacturing Shows Further Expansion in U.K. by ecPulse.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 2 | 01:30 | AU | Gross Domestic Product (YoY) | 0.6% | 0.7% | 0.3% |
| 08:30 | UK | PMI Construction | 47.7 | 48.1 | 47.0 | |
| 09:00 | EMU | Gross Domestic Product s.a. (QoQ)  | -0.1% | -0.1% | -2.5% | |
| 09:00 | EMU | Gross Domestic Product s.a. (YoY) | -4.7% | -4.7% | -4.9% | |
| 09:00 | EMU | Producer Price Index (YoY) (Jul) | -8.5% | -8.6% | -6.6% | |
| 11:00 | US | MBA Mortgage Applications (Aug 28) | -2.2% | 7.5% | ||
| 12:15 | US | ADP Employment Change | -250K | -371K | ||
| 12:30 | US | Nonfarm Productivity | 6.1% | 0.3% | ||
| 12:30 | US | Unit Labor Costs | -5.3% | -2.7% | ||
| 14:00 | US | Factory Orders | 1.5% | 0.4% | ||