Tuesday, Jan 06, 17:30 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Doing Dealer Due Diligence by John Jagerson
- All the events of the day in our Economic Calendar
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FX Path: EUR/USD − Stalled Above Strong Support by James Chen
As noted on Monday's blog post, bearish price action on the EUR/USD (a daily chart of which is shown) was targeting strong support in the 1.3250−1.3300 region.
FX Market Readings: What is happening in the market for month beginning? by Dr.S. Sivaraman
Forex Trading Today: EUR/USD Continues To Ski Down the Slope by Tim Salem
Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, Jan 7, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Trading Break Out's And Other Market Views
Expert: Phil Newton
Start: Wed, Jan 7, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Tue, Jan 6, 17:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Mark Whistler | WBN |  |
| Tue, Jan 6, 18:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
| Wed, Jan 7, 10:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, Jan 7, 11:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN | |
| Wed, Jan 7, 14:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN |  |
Current Session: U.S.
Action Forex − Dollar remains generally firm in early US session after a mixed bag of economic data. Though again, the strength is mainly seen against Euro and Yen. ISM non−manufacturing index unexpectedly improved to 40.6 in Dec but is still deep in contraction region below 50. Employment component also improved slightly from 31.3 to 34.7 while price paid dropped slightly from 36.6 to 36.0 only.
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USD/JPY
Chart of the Day − USD/JPY: break above a strong downtrend resistance line by FX Solutions
Coming into the New Year, price action on the key USD/JPY pair (a daily chart of which is shown) has made a very decisive break above a strong downtrend resistance line that has been in place since at least September 2008.
AUD/USD
The dollar strengthened further against the yen by Kshitij Consultancy Service
The view continues to remain the same as mentioned in the morning as the pair continues to face Resistance from 21−week MA. Till it manages to take Support of the 200−month MA at 0.7004.
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
US FOMC MINUTES
| Date (GMT) | Event | Cons. | Previous | |
| Jan 6 | 19:00 | FOMC Minutes | - | - |
Daily Market Briefing - US Dollar Ends Day Mixed, Could See Directional Moves on Releases of ISM Services, FOMC Minutes by FXCM
The 14:00 ET release of the FOMC's meeting minutes from December 16, when they slashed rates to a record low target range of 0.0 percent − 0.25 percent, should draw some attention, especially if they highlight the Committee's plans to support the financial markets via measures that "sustain the size of the Federal Reserve's balance sheet at a high level."
[ Full Story ]Top Market Movers Review
US PENDING HOME SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 6 | 15:00 | Pending Home Sales (MoM) | -4.0% | -1.0% | -0.7% |
US Pending Home Sales Index −4.0% In Nov − NAR (Dow Jones)
A forecasting gauge of housing market activity fell more than expected in November amid a weakened job market and ailing economy, putting the index at its lowest level since the data series began in 2001.
[ Full Story ]- Read the Pending Home Sales data at NAR
- US STOCKS−Gains trimmed on weak factory orders, home sales (Thomson Financial News)
- US Pending Home Sales Index −4.0% In Nov − NAR (Dow Jones)
- TABLE−U.S. Nov pending home sales fell 4.0 pct (Thomson Financial News)
US ISM NON−MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 6 | 15:00 | ISM Non−Manufacturing | 40.6 | 37.0 | 37.3 |
DATA SNAP: US Service Sector Shrinks Again In December (Dow Jones)
Service sector activity in the U.S. contracted in December, albeit less dramatically than expected, as inflationary forces continued to retreat. A report from the Institute for Supply Management on Tuesday put the private research group's overall index of non−manufacturing activity at 40.6, from 37.3 in November and 44.4 in October.
[ Full Story ]- Read the Non−Manufacturing Report at ISM
- INSTANT VIEW 5−U.S. service sector contracts in Dec (Thomson Financial News)
- INSTANT VIEW 4−U.S. service sector contracts in Dec (Thomson Financial News)
- INSTANT VIEW 3−U.S. service sector contracts in Dec (Thomson Financial News)
US ISM non−manufacturing probably fell to 37 by ActionForex.com
Daily Market Briefing - US Dollar Ends Day Mixed, Could See Directional Moves on Releases of ISM Services, FOMC Minutes by FXCM
US economic indicators - ISM non−manufacturing index (December): remaining deeply in contraction zone by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 6 | 15:00 | US | Factory Orders (Nov) | -4.6% | -2.3% | -6.0% |
| 15:00 | US | ISM Non−Manufacturing (Dec) | 40.6 | 37.0 | 37.3 | |
| 19:00 | US | FOMC Minutes | ||||
| 21:45 | NZ | Trade Balance (Nov) | -838M | -942M | ||
| Jan 7 | 00:01 | UK | Nationwide Consumer Confidence (Dec) | 50 | ||
| 00:30 | AU | Retail Sales (MoM) (Dec) | 0.2% | |||
| 07:00 | EMU | ECB Trichet's Speech | ||||