Thursday, Oct 08, 11:58 GMT
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Forex Blogs
Trading for a living: Pound didn't wait to BOE this morning by David Aranzabal
Usually on BOE days, the market is in a tight range until the announcement. But some days the operators make bets before the announcement at the London Open, and that's what happened this morning.
FX Path: GBP/USD - Bearish Bias in Consolidation by James Chen
FX Market Readings: Very volatile moves for a day by Dr. S. Sivaraman
Sponsored by 
Live Sessions Schedule
Looking at economic data
Expert: Adam Rosen
Start: Thu, Oct 8, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Oct 8, 13:00 GMT | Pip Movement Ranges for Better Trade Management  | Raghee Horner | WBN |  |
| Thu, Oct 8, 14:00 GMT | Looking at economic data | Adam Rosen | WBN | |
| Fri, Oct 9, 09:00 GMT | Trading the Harmonic patterns | Sunil Mangwani | WBN |  |
| Fri, Oct 9, 13:00 GMT | Live Trading Set Ups with Chart Patterns and Market Cycles | Raghee Horner | WBN | |
Current Session: Europe − U.S.
The EUR / USD reversed its two−day downtrend
Swiss e Trade AG −The EUR / USD reversed its two−day downtrend to trade higher in Asia and is currently priced at 1.4766, up from 1.4685 at the European close yesterday. A test of recent highs at 1.4845 is possible today or tomorrow. The 1.4845 level is also important because it is a double top on daily charts.
GBP/USD
Current bias is positive for 1.6130 by www.deltastock.com
Yesterday's rise broke through 1.6010 dynamic resistance and current bias is positive for 1.6130 major resistance area. Intraday support comes at 1.6010−24, followed by the crucial 1.5970.
GOLD
Gold rally extends further to as high as 1059.6 today by Oil N' Gold
Gold rally extends further to as high as 1059.6 today and remains firm. Further rise is still expected, targeting 100% projection of 931.3 to 1025.8 from 952.5 at 1080 next.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : FXstreet.com, Financial Trend Analysis
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US INITIAL JOBLESS CLAIMS
| Date (GMT) | Event | Cons. | Previous | |
| Oct 8 | 12:30 | Initial Jobless Claims | 541K | 551K |
| Oct 8 | 12:30 | Continuing Jobless Claims | - | 6090K |
US TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Oct 9 | 12:30 | Trade Balance | -$32.70B | -$31.96B |
US economic indicators - Trade balance (Aug): Rising slightly due to higher prices by BHF−Bank
Top Market Movers Review
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 8 | 11:45 | ECB Interest Rate Decision | 1% | 1% | 1% |
ECB keeps its Refi Rate unchanged at 1.0%; Euro testing 1.4750 (FXstreet.com)
The European Central Bank Monetary Policy Committee has decided to leave its Refi Rate unchanged at 1.0% after its monetary policy meeting.
[ Full Story ]- Read the official statement at ECB
- ECB keeps its refi rate unchanged at 1% (FXstreet.com)
- Forex: EUR/USD: Euro stalls below 1.4785 day high ahead of ECB (FXstreet.com)
ECB preview: The system is liquid enough by Danske Bank A/S
European Market Update - Risk appetite continues to rise ahead of European central bank meetings by TradeTheNews.com
ECB: Preview October Rate Decision by RANsquawk
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 8 | 11:00 | BoE Interest Rate Decision | 0.5% | 0.5% | 0.5% |
BOE Leaves Bond Buying Program, Key Interest Rate Unchanged (Dow Jones)
The Bank of England's Monetary Policy Committee Thursday kept the size of its bond buying program and its key interest rate unchanged.
[ Full Story ]- Read the official statement at BoE
- Forex: GBP/JPY falls from intra−day high at 142.37 to 141.60 after BoE unchanged policy (FXstreet.com)
- BoE leaves Bank Rate unchanged at 0.5%; GBP edges down (FXstreet.com)
- Bank of England leaves its bank rate on hold at 0.5% (FXstreet.com)
European Market Update - Risk appetite continues to rise ahead of European central bank meetings by TradeTheNews.com
BOE Preview: October interest rate decision by RANsquawk
Daily World Market Update - Sterling Weak Before Bank of England, ECB by World First UK Ltd
Australia UNEMPLOYMENT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 8 | 00:30 | Employment Change | 40.6K | -10.0K | -26.1K |
| Oct 8 | 00:30 | Unemployment Rate | 5.7% | 6.0% | 5.8% |
DATA SNAP: Australian Sep Unemployment Rate 5.7% (Dow Jones)
[ Full Story ]- Read the Unemployment data at ABS
- UPDATE: Asian Shrs End Higher; Aussie Jobs Data Boosts Region (Dow Jones)
- Australia September Unemployment 5.7% (Forex Live)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 8 | 05:00 | JP | Eco Watchers Survey: Outlook (Sep) | 44.5 | 44.0 | |
| 06:00 | JP | Machine Tool Orders (YoY)  | -61.9% | -71.5% | ||
| 10:00 | DE | Industrial Production s.a. (MoM) (Aug) | 1.7% | 1.5% | -1.1% |
|
| 10:00 | DE | Industrial Production s.a. w.d.a. (YoY) (Aug) | -16.8% | -16.7% | -17.0% | |
| 11:00 | UK | BoE Interest Rate Decision | 0.5% | 0.5% | 0.5% | |
| 11:45 | EMU | ECB Interest Rate Decision | 1% | 1% | 1% | |
| 12:15 | CA | Housing Starts s.a (YoY) (Sep) | 146.5K | 150.4K | ||
| 12:30 | US | Continuing Jobless Claims (Sep 26) | 6090K | |||
| 12:30 | EMU | ECB Trichet's Speech | ||||
| 12:30 | US | Initial Jobless Claims (Oct 3) | 541K | 551K | ||
Educational Resources
I had a few vacation days in Spain with a group of friends. We had a great time and the company, weather and food couldn't have been better. It was pretty much the perfect weekend away, except for one thing – the exchange rate! As many of you would have noticed, my home currency, the Great British Pound, has been having a hard time over the last year. Read Sam Evans' article
From the Lessons From the Pros as well:
$8000 Tax Credit for the Purchase of Real Estate by Diana Hill