Follow the trading day with FOREX.com's Market Updates. 
Published three times daily, after the close of each major trading session in Tokyo, London, and New York, each Market Update summarizes the key takeaways from each trading session. Find out the potential impact each major market may have on upcoming price action, and learn about important technical levels and events to watch.
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Asia Session
Published: August 6, 2007 11:07 PM
After the biggest gain in the Dow Jones Industrial Average in almost five years and a reemergence in carry trade buyers, Asia faded the gains made in NY. USD/JPY which held 117.00 last night, traded above 119.00 in NY but we saw selling all the way to the 118.50 area. EUR/USD traded slightly higher from the Asia open. EUR/JPY which was strong with equity markets also found selling pressure until buyers stepped into the 163.50 area.
Commodity currencies traded with an offer tone most of the session. USD/CAD finally broke the 1.0500 level but this proved a false break as it was quickly bought back up into the 1.0530 area. AUD/USD and NZD/USD both rallied into the NY close but steadily ground lower.
Looking forward, the big question remains whether most of the carnage from the sub-prime mortgage market is behind us and the market is ready to ‘buy’ risk. There was some talk in the market that today’s move was squaring up in front of tomorrow’s Federal Open Market Committee rate decision scheduled for tomorrow. Some were even speculating that the Fed could cut interest rates in an attempt to add liquidity to the market. In any case, continue to look for a traders’ market with plenty of intraday volatility. As for Asia, the Reserve Bank of Australia rate decision will be the focus tomorrow.
http://www.forex.com/
Upcoming Data Releases (London Session):
Germany: (6am ET) Month over month seasonally adjusted Industrial Production expected .5% vs. previous 1.9%.
----------------------------------------------------------
Asia Session
Published: August 6, 2007 11:07 PM
After the biggest gain in the Dow Jones Industrial Average in almost five years and a reemergence in carry trade buyers, Asia faded the gains made in NY. USD/JPY which held 117.00 last night, traded above 119.00 in NY but we saw selling all the way to the 118.50 area. EUR/USD traded slightly higher from the Asia open. EUR/JPY which was strong with equity markets also found selling pressure until buyers stepped into the 163.50 area.
Commodity currencies traded with an offer tone most of the session. USD/CAD finally broke the 1.0500 level but this proved a false break as it was quickly bought back up into the 1.0530 area. AUD/USD and NZD/USD both rallied into the NY close but steadily ground lower.
Looking forward, the big question remains whether most of the carnage from the sub-prime mortgage market is behind us and the market is ready to ‘buy’ risk. There was some talk in the market that today’s move was squaring up in front of tomorrow’s Federal Open Market Committee rate decision scheduled for tomorrow. Some were even speculating that the Fed could cut interest rates in an attempt to add liquidity to the market. In any case, continue to look for a traders’ market with plenty of intraday volatility. As for Asia, the Reserve Bank of Australia rate decision will be the focus tomorrow.
http://www.forex.com/
Upcoming Data Releases (London Session):
Germany: (6am ET) Month over month seasonally adjusted Industrial Production expected .5% vs. previous 1.9%.
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