Friday, Oct 09, 11:10 GMT
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Forex Blogs
The Trader's Edge: EUR/USD Outlook by César B. Leiceaga
Looking at the EUR/USD, look for potentially a little more selling action while the currency pair tries to find a low before heading back up again as we head through the end of the European session and into the New York trading session.
Francesc's Weblog: FXstreet Home Page Touches New All-Time Highs by Francesc Riverola
The Advisor Weblog: Starting a Spaniard day by Valeria Bednarik
Sponsored by 
Live Sessions Schedule
Live Trading Set Ups with Chart Patterns and Market Cycles
Expert: Raghee Horner
Start: Fri, Oct 9, 13:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, Oct 9, 13:00 GMT | Live Trading Set Ups with Chart Patterns and Market Cycles  | Raghee Horner | WBN |  |
| Mon, Oct 12, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Mon, Oct 12, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN |  |
| Mon, Oct 12, 10:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
Current Session: Europe − U.S.
Cable dropped below the important 1.6000 pyschological level
Swiss e Trade AG − Cable dropped below the important 1.6000 pyschological level in late Asian and early European trading and is currently at 1.5946. Next support is seen at 1.5930 and, if broken, the GBP / USD could drop very quickly a further 100 pips to 1.5850. We expect this level, though, to hold in today's trading.
AUD/JPY
The pair may experience a correction to its recent bullish run by ForexYard
bearish cross is evident on the hourly, 2 hour and 4 hour Slow Stochastic charts and with the RSI floating in the overbought territory on the hourly, 2 hour and 4 hour charts. Furthermore a breach of the upper level of the Bollinger Bands is evident on the 4 hour and daily charts.
EUR/USD
EURUSD failed to hold above 1.4800 despite the USD sell−off yesterday by Mizuho Corporate Bank
EURUSD failed to hold above 1.4800 despite the USD sell−off yesterday, and any rallies will find face headwinds from 1.4845 and thereafter the major resistance at 1.4876. The 10 month uptrend now comes in at around 1.4570...
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 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
The nominal trade deficit unexpectedly widened by $4.5bn to $32.0bn in July. Both imports and exports went up significantly, but import growth (+4.7% mom) outpaced export growth (+2.2% mom) by far. This was partly connected with high demand for vehicles due to CARS.
[ Full Story ]Top Market Movers Review
UK TOTAL TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 9 | 08:30 | Total Trade Balance | -£3.00B | -£2.30B | -£2.45B |
- DATA SNAP: UK Aug Trade Gap Lowest In 3 Yrs But Exports Down (Dow Jones)
- UK Aug Total Trade deficit rises to £3B (FXstreet.com)
Germany CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 9 | 06:00 | Consumer Price Index (MoM) | -0.4% | -0.4% | 0.2% |
| Oct 9 | 06:00 | Consumer Price Index (YoY) | -0.3% | -0.3% | 0.0% |
DATA SNAP: German Final Sep CPI −0.4% On Month; −0.3% On Yr (Dow Jones)
[ Full Story ]- Read the CPI data at German Statistics
- Germany Sep CPI decreases 0.4% MoM and 0.3% YoY (FXstreet.com)
Top Fundamental Stories - Germany's Trade Balance and Inflation Raise Concerns by ecPulse.com
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 8 | 11:45 | ECB Interest Rate Decision | 1% | 1% | 1% |
Flash Comment - ECB meeting: Upside risks by Danske Bank A/S
ECB kept policy rates on hold as expected and Trichet noted that the judgment today is very close to the judgment a month ago.
[ Full Story ]- Read the official statement at ECB
- ECB keeps its refi rate unchanged at 1% (FXstreet.com)
- ECB keeps its Refi Rate unchanged at 1.0%; Euro testing 1.4750 (FXstreet.com)
- Forex: EUR/USD: Euro stalls below 1.4785 day high ahead of ECB (FXstreet.com)
Morning Report - The European Central Bank left its repo rate unchanged at 1.0% by Westpac Institutional Bank
Forex Market Video - ECB and BoE are Expected to Leave Rates Unchanged by ForexYard
ECB preview: The system is liquid enough by Danske Bank A/S
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% |
The Overnight Express: North American Edition - BOE Maintains the Status Quo by The Overnight Express
[ 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)
- BOE Leaves Bond Buying Program, Key Interest Rate Unchanged (Dow Jones)
Forex Market Video - ECB and BoE are Expected to Leave Rates Unchanged by ForexYard
Forex Trading Article - U.S. Jobless Claims Report Falls, Bank of England Stalls by Online Forex Trading
Top Fundamental Stories - BoE Leaves the Interest Rate Unchanged for the Seventh Month by ecPulse.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 9 | 08:30 | UK | Goods Trade Balance (Aug) | £-6.2B | -£6.3B | -£6.4B |
| 08:30 | UK | Producer Price Index − Input (MoM) s.a (Sep) | -0.5% | -1.0% | 2.0% |
|
| 08:30 | UK | Producer Price Index − Output (MoM) n.s.a (Sep) | 0.5% | 0.1% | 0.3% |
|
| 09:30 | EMU | ECB Trichet's Speech | ||||
| 11:00 | CA | Net Change in Employment (Sep) | 30.6K | 10.0K | 27.0K | |
| 11:00 | CA | Unemployment Rate (Sep) | 8.4% | 8.8% | 8.7% | |
| 12:30 | US | Fed's Lockhart speech | ||||
| 12:30 | US | Trade Balance (Aug) | -$32.70B | -$31.96B | ||
| 16:15 | US | Fed's Kohn speech | ||||
| Oct 12 | 12:00 | CH | SNB Interest Rate Decision | 0.25% | 0.25% | |
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