Wednesday, Sep 16, 11:07 GMT
U.S. Trading Newsletter
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International Traders Conference
LAST SEATS AVAILABLE!
Don't miss the third edition of FXstreet.com's International Traders Conference (ITC) on October 14-16, 2009 in Barcelona. Live Trading next to the experts.
This year's key speakers panel: Valeria Bednarik, Rob Booker, James Chen, Kim Cramer Larsson, Markus Heitkoetter, Ashraf Laidi and Andrei Pehar.
Limited to 60 seats! Register now!
To Get Started
- WEBINAR VIDEOS: New NFA Regulations: How Currency Trading Will Be Affected by Rob Booker
- All the events of the day in our Economic Calendar
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Forex Blogs
Trading for a living: Trading the Asian Channel in Cable, again... by David Aranzabal
Today we got again a very clear pattern that happens when there is not a clear direction on the pair. GBP/USD formed a 123 pattern at Asian support and it went all the way up till the Asian resistance. We got 2 or 3 opportunities to go long and take a piece of the move (around 80 pips).
FX Market Readings: Holding high by Dr. S. Sivaraman
Francesc's Weblog: 1,041 traders following FXstreet.com’s Forex News on Twitter by Francesc Riverola
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Live Sessions Schedule
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, Sep 16, 14:00 GMT
Type of Session: Webinar
Institutional Trading Strategies
Expert: Andrei Pehar
Start: Wed, Sep 16, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Sep 16, 10:00 GMT | Money Management and Scenario Analysis | Phil Newton | WBN |  |
| Wed, Sep 16, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
| Wed, Sep 16, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN | |
| Wed, Sep 16, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
Current Session: Europe − U.S.
EUR/USD: Euro eases below 1.4700 from fresh YTD high at 1.4715
FXstreet.com −Euro rally from 1.45 60 low on Tuesday has been capped at 1.4715, several pips short of December 13th high at 1.4720, as the Euro eased to levels below 1.4700, trading at 1.4680 at the time of writing.
Support levels lie at 1.4640/50, and below here, 1.4625 and 1.4560 (Sept 15 low). On the upside resistance levels lie at the mentioned 1.4720 (Dec 13 high) and above there, 1.4740 and and 1.4770 (Sept 25 '08 high).
USD/JPY
Dollar suffered stop−loss selling bringing the market quickly to 90.15 low by Swiss e Trade AG
In a thin market, the dollar suffered stop−loss selling against the yen this European morning, bringing the market quickly to now 90.15. We expect this downmove to be shortlived, giving way soon to upmoves to levels around 91.50.
GOLD
Gold's rally resumes and reaches as high as 1023.3 so far by Oil N' Gold
Short term outlook will remain bullish as long as 994.5 support holds and further rise should be seen to test key resistance at 1033.9.
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Sep 16 | 12:30 | Consumer Price Index Ex Food & Energy (MoM) | 0.1% | 0.1% |
| Sep 16 | 12:30 | Consumer Price Index (YoY) | -1.7% | -2.1% |
| Sep 16 | 12:30 | Consumer Price Index (MoM) | 0.4% | 0.0% |
| Sep 16 | 12:30 | Consumer Price Index Ex Food & Energy (YoY) | 1.4% | 1.5% |
The Week Ahead - Business Inventories, CPI, IP, Retail Sales and Housing Starts by BBVA Bancomer
[ Full Story ]US economic indicators - PPI & CPI (August): further decline in yearly core inflation rates by BHF−Bank
Switzerland SNB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Sep 17 | 12:00 | SNB Interest Rate Decision | 0.25% | 0.25% |
Top Market Movers Review
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 16 | 09:00 | Consumer Price Index (MoM) | 0.3% | 0.3% | -0.7% |
| Sep 16 | 09:00 | Consumer Price Index − Core (YoY) | 1.3% | 1.2% | 1.3% |
| Sep 16 | 09:00 | Consumer Price Index (YoY) | -0.2% | -0.2% | -0.7% |
- UPDATE: Euro−Zone YY CPI Seen Turning Positive Soon (Dow Jones)
- Euro Zone CPI rises 0.3% in August, 0.2% down on year; Euro edges down (FXstreet.com)
- Euro Zone Aug CPI rises 0.3% MoM, falls 0.2% YoY (FXstreet.com)
Top Fundamental Stories - Rising Unemployment Spur Concerns in the UK, While CPI Improve in the Euro Zone by ecPulse.com
Top Fundamental Stories - Europe Ahead: Low Inflation Rate and Rising Unemployment Are threatening the European Recovery the most by ecPulse.com
UK CLAIMANT COUNT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 16 | 08:30 | Claimant Count Rate | 5.0% | 5.0% | 4.9% |
| Sep 16 | 08:30 | Jobless Claims Change | 24.4K | 24.8K | 25.2K |
- UK claimant count rate soars to a 12−year high; Pound ticks down (FXstreet.com)
- DATA SNAP: UK Jobless Hits Highest Level For 14 Yrs In July (Dow Jones)
- UK Aug Claimant Count Rate rises by 24.4K to 5% (FXstreet.com)
Top Fundamental Stories - Rising Unemployment Spur Concerns in the UK, While CPI Improve in the Euro Zone by ecPulse.com
US RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 15 | 12:30 | Retail Sales ex Autos (MoM) | 1.1% | 0.4% | -0.5% |
| Sep 15 | 12:30 | Retail Sales (MoM) | 2.7% | 1.7% | -0.2% |
US: Retail Sales Jumped Higher in August by Wells Fargo Investments, LLC
Retailers turned in a surprisingly strong month in August; sales were up 2.7 percent. Even excluding the cash−for−clunkers−fueled results at auto dealers, sales rose 1.1 percent, the best gain since February.
[ Full Story ]- Read the Retail Sales data at the Census Bureau
- CURRENCIES: Dollar Gains After Retail Sales, Price Data (Dow Jones)
- CURRENCIES: Dollar Adds To Gain After Retail Sales, Price Data (Dow Jones)
- CURRENCIES: Dollar Adds To Gain After Retail Sales, Price Data (Dow Jones)
KBC News Picks - US: Retail sales show biggest increase since January 2006 by KBC Bank
Daily Global Commentary - Autos and Non−auto Components Lift Retail Sales in August by Northern Trust
US: Good news on underlying consumption by Danske Bank A/S
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 16 | 08:30 | UK | Claimant Count Rate (Aug) | 5.0% | 5.0% | 4.9% |
| 09:00 | EMU | Consumer Price Index − Core (YoY) (Aug) | 1.3% | 1.2% | 1.3% | |
| 09:00 | EMU | Consumer Price Index (MoM) (Aug) | 0.3% | 0.3% | -0.7% | |
| 09:00 | EMU | Consumer Price Index (YoY) (Aug) | -0.2% | -0.2% | -0.7% | |
| 09:00 | CH | ZEW Survey − Expectations (Sep) | 58.0 | 18.6 | ||
| 11:00 | US | MBA Mortgage Applications (Sep 11) | -8.6% | 17.0% | ||
| 12:30 | US | Consumer Price Index (MoM) (Aug) | 0.4% | 0.0% | ||
| 12:30 | US | Consumer Price Index (YoY) (Aug) | -1.7% | -2.1% | ||
| 12:30 | US | Consumer Price Index Ex Food & Energy (MoM) (Aug) | 0.1% | 0.1% | ||
| 12:30 | US | Consumer Price Index Ex Food & Energy (YoY) (Aug) | 1.4% | 1.5% | ||
Educational Resources
This week Sam Seiden will argue that within the pages of Principia Mathmatica by Isaac Newton lie the most key ingredients of a successful plan for speculating in markets. Read whole Sam Seiden's article!
Other articles of this week's Lessons from the Pros
It's All In Your Head... - Article by Sam Evans
Real Estate: Its History and Cycles - Article by Diana Hill
Naked Chart Reading and Option Trading - Article by Josip Causic
One Year Removed - Article by Gabe Velazquez