Monday, Jan 05, 08:39 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Forex Trading Today: 2009 Begins... but is the Euro still on Holiday? by Tim Salem
Welcome to out first trading week of 2009! Last Friday, our Euro friend was appreciating nicely with its' "cousin", Gold. We noticed a strong relationship here, and concluded our Price similarities were tight…but not as deeply correlated as other Currency/Commodity groupings.
FxBootcamp: Pre London Outlook For January 5th 2009 by David R Pegler
ForexHedge: Currency ETF's by Ron Schelling
Live Sessions Schedule
Understand & Use Fibonacci Ratios Effectively
Expert: Sunil Mangwani
Start: Mon, Jan 5, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, Jan 5, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, Jan 5, 10:00 GMT | Understand & Use Fibonacci Ratios Effectively | Sunil Mangwani | WBN | |
| Mon, Jan 5, 15:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, Jan 5, 16:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN |  |
| Mon, Jan 5, 17:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN |  |
Current Session: Europe
EUR/USD
Daily Forex Outlook − Markets rally on the first day of 2009 by Easy Forex
The Euro (EUR) lost ground as it fell off the 1.4000 handle and support from crosses dissipated. December PMI manufacturing was revised lower to 33.9 vs. 34.5. Overall the EUR/USD traded with a low of 1.3840 and a high of 1.4050 before closing the day at 1.3855. Looking ahead, January Sentix is expected at −44 vs. −42.3.
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AUD/USD
Daily Forex Technical Report − Aussie Firm as Stocks Rally by ActionForex.com
AUD/USD rises further to 0.7159 today and break of 0.7140 confirms that rise from 0.6075 is resuming. At this point, intraday bias remains on the upside as long as 0.7041 minor support holds and further rally could be seen towards 38.2% retracement of 0.9849 to 0.6008 at 0.7475
USD/JPY
Dynamic Carry Basket − A Rebound In Liquidity May Put Risk And Carry Trade Interests Back On Pace by GFXCM
The new year has begun; and the impending rebound in liquidity promises to redefine direction for risk sentiment and its dependable barometer – the carry trade. Now, the market is left to decide whether the rebound in activity will mean a revival of the sweeping deleveraging trend through October or a rebound in risk appetite
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
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
UK NATIONWIDE HOUSING PRICES S.A
| Date (GMT) | Event | Cons. | Previous | |
| Jan 6 | 07:00 | Nationwide Housing Prices s.a (MoM) | - | -0.4% |
| Jan 6 | 07:00 | Nationwide Housing Prices n.s.a (YoY) | - | -13.9% |
UK DATA WEEKAHEAD−Rate decision in focus as economy weakens (Thomson Financial News)
Analysts expect the Nationwide index to show house prices fell by around 1.5 percent in December to stand 14.5 percent below their level a year ago. A survey from rival lender Halifax showed house prices fell by 2.2 percent on the month, taking them down 20 percent from their 2007 peaks.
[ Full Story ]- Read the Housing data at Nationwide
Top Market Movers Review
Japan VEHICLE SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 5 | 05:00 | Vehicle Sales (YoY) | -16.7% | - | -18.2% |
Japan's 2008 Domestic Auto Sales Slip To Lowest Since 1974 (Dow Jones)
Japan's domestic auto sales fell last year to their lowest level since the mid−1970s as recession squashed consumer demand in the last few months of the year. According to data released by the Japan Automobile Dealers' Association Monday, sales of new cars, trucks and buses slid 6.5% to 3.212 million vehicles last year, down from 3.434 million in 2007.
[ Full Story ]- Read the Vehicle data at JAMA
- TABLE−Japan Dec minivehicle sales down 6.7 pct year/year (Thomson Financial News)
- TABLE−Japan non−mini auto sales down 22.3 pct in Dec (Thomson Financial News)
- TABLE−Japan overall auto sales down 16.7 pct in December (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 5 | 05:00 | JP | Vehicle Sales (YoY) (Dec) | -16.7% | -18.2% | |
| 08:30 | CH | SVME − Purchasing Managers' Index (Dec) | 36.9 | 35.2 | ||
| 09:30 | UK | PMI Construction (Dec) | 31.8 | |||
| 09:30 | EMU | Sentix Investor Confidence (Jan) | -42.3 | |||
| 15:00 | US | Construction Spending (MoM) (Nov) | -1.2% | |||
| 23:30 | JP | Monetary Base (YoY) (Dec) | 1.9% | |||
| Jan 6 | 07:00 | UK | Nationwide Housing Prices n.s.a (YoY) (Dec) | -13.9% | ||
| 07:00 | UK | Nationwide Housing Prices s.a (MoM) (Dec) | -0.4% | |||
| 08:55 | DE | Purchasing Manager Index Services (Dec) | 45.1 | |||
| 09:00 | EMU | Purchasing Manager Index Services (Dec) | 42.5 | |||