Thursday, Jan 08, 16:54 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- WEBINAR VIDEO: Trading Break Out's And Other Market Views by Phil Newton
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Jobless Claims and BoE Rate Cut Clip the Dollar by Tim Salem
The "surprising" move for a historical Rate Cut out of the U.K., and an significant increase in Jobless Claims with being the lowest since the week of October 11th, has continued to propel the Majors into appreciation.
FxBootcamp: FOREX Training Video - London Session January 8, 2009 by Christian Stephens
FX Path: EUR/USD - High Volatility in Consolidation by James Chen
Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, Jan 8, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 32nd Edition
Expert: Wayne McDonell
Start: Fri, Jan 9, 12:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jan 8, 16:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN |  |
| Thu, Jan 8, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Fri, Jan 9, 12:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 32nd Edition | Wayne McDonell | WBN | |
| Mon, Jan 12, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN |  |
| Mon, Jan 12, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN | |
Current Session: U.S.
EURUSD: Rejection Candle Triggers Recovery
(FXTechstrategy) − EUR halted its recent declines started at the 1.4719 level, its Dec 18'08 Wednesday pushing to the upside to close higher at 1.3615.This is coming on the back of a formation of a rejection candle at the end of Wednesday session. This development now leaves the pair with the possibility of further corrective recovery towards the 1.3785 level, its Oct 09'08 high initially and then the 1.3882 area, its Sept 11'08 high.
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Mid−Day Forex Technical Report − No Surprise from BoE, Sterling Resumes Rebound by ActionForex.com
EUR/GBP dives to as low as 0.8894 after BoE's announcement. Sustained break of 0.9 psychological support (with 50% retracement of 0.8234 to 0.9798 at 0.9016) argues that 0.9799 is indeed a medium term top and focus now turns to trend line support at 0.8758.
One year Outlook for JPY − Dollar/Yen moves in the second half of last year were a bit bigger than we had expected by Mizuho Corporate Bank
Dollar/Yen moves in the second half of last year were a bit bigger than we had expected as the ‘carry trade' (in its many guises) unwound amid the biggest global financial mess.
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
GBP USD, Hourly
EUR USD, Hourly
Top Market Movers Preview
Germany RETAIL SALES
| Date (GMT) | Event | Cons. | Previous | |
| Jan 9 | 07:00 | Retail Sales (YoY) | - | -1.5% |
| Jan 9 | 07:00 | Retail Sales (MoM) | - | -1.6% |
EMU economic indicators - German retail sales (October): up slightly by BHF−Bank
German retail sales might have recovered slightly in November, after they had plummeted in October and even though retailers' business assessment and consumer confidence deteriorated.
[ Full Story ]Forex Trading Strategies - EURUSD dips keep turning into bounces so far by Saxo Bank
Top Market Movers Review
US INITIAL JOBLESS CLAIMS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 8 | 13:30 | Continuing Jobless Claims | 4611K | - | 4510K |
| Jan 8 | 13:30 | Initial Jobless Claims | 467K | 540M | 491K |
UPDATE 1−US jobless claims fell unexpectedly last week (Thomson Financial News)
The number of U.S. workers filing new claims for unemployment benefits last week unexpectedly fell to their lowest level since mid−October, but the number of those remaining on jobless rolls rose to a 26−year high, data showed on Thursday.
[ Full Story ]- Read the Jobless Claims data at Labor Department
- INSTANT VIEW 5−US jobless claims fall in latest week (Thomson Financial News)
- INSTANT VIEW 4−US jobless claims fall in latest week (Thomson Financial News)
- INSTANT VIEW3−US jobless claims fall in latest week (Thomson Financial News)
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 8 | 12:00 | BoE Interest Rate Decision | 1.5% | 1.5% | 2.0% |
Daily Market Report - The Bank of England cut rates today by 50 basis points, to 1.50% by Wachovia
The Bank of England cut rates today by 50 basis points, to 1.50%. This is now the lowest rate since the BOE's conception in 1694. Following in the footsteps of the United States, it seems the UK may soon begin a quantitative easing program as there is not much room left to reduce the benchmark rate.
[ Full Story ]- Read the Official Statement at BoE
- CURRENCIES: Sterling Up After Expected Bank Of England Rate Cut (Dow Jones)
- UPDATE 2−UK mortgage lenders start matching BoE rate cut (Thomson Financial News)
- UPDATE 3−Bank of England cuts interest rates to record low (Thomson Financial News)
Mid−Day Forex Technical Report − No Surprise from BoE, Sterling Resumes Rebound by ActionForex.com
Daily Forex News - Forex − Dollar reversed gains early week gains after weaker ADP report by ACM − Advanced Currency Markets
Daily Market Briefing - British Pound Remains Strong Despite Signs of Impending BOE Rate Cut on Thursday by FXCM
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 8 | 13:30 | US | Initial Jobless Claims (Jan 3) | 467K | 540M | 491K |
| 15:00 | CA | Ivey Purchasing Managers Index (Dec) | 39.1 | 37.5 | 40.2 | |
| 20:00 | US | Consumer Credit (Dec) | -$0.5B | -$3.5B | ||
| Jan 9 | 05:00 | JP | Coincident Index (Nov)  | 94.9% | 97.7% | |
| 05:00 | JP | Leading Economic Index (Nov) | 81.4 | 85.2 | ||
| 07:00 | DE | Retail Sales (MoM) (Nov) | -1.6% | |||
| 07:00 | DE | Retail Sales (YoY) (Nov) | -1.5% | |||