Wednesday, May 16, 16:50 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- The Advisor Weblog: The reality of this market
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Live Sessions Schedule
What moves currencies? - BoJ analysis
Expert: Tony Juste
Start: Thu, May 17, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Market Magic, surprise all the time: why?
Expert: Dr.S.Sivaraman
Start: Thu, May 17, 16:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored By: | ||||
| Wed, May 16, 16:00 GMT | The FX Mirror | Patrick Dyess | WBN | |
| Wed, May 16, 17:00 GMT | 24 hour Outlook  | John Putman | WBN | |
| Wed, May 16, 17:00 GMT | 24 hour Outlook | John Putman | WBN | |
| Wed, May 16, 20:00 GMT | 24 hour Outlook | John Putman | WBN | |
| Wed, May 16, 21:00 GMT | FX Daily Wrap Up | Derek Frey | WBN |  |
Current Session: U.S.
USD/JPY
Mid-Day Forex Technical Report - Dollar Rebounds Despite Mixed Data, Yen Pressured ahead of BoJ by ActionForex.com
USD/JPY's rise extends further today by reaching as high as 120.69 so far and is now pressing 78.6% retracement of 122.17 to 115.13 at 120.66. Sustained break of this fibo resistance will confirm recent rally has resumed. Next upside target will be trend line resistance at 120.15. However, below 120.14 will indicate an intraday top is formed and risk pull back towards 119.44 support.
- Looking for the Trader of the Year 2007: Take part in the 1st FXstreet.com Trading Contest
- US Industrial Production data by Tony Juste
- The Signals Tracker: track down the performance of a particular signals provider
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
- Be up to date with the Latest Forex News
Other Topics for this Session:
KBC Alert - EURGBP: (.6856) Approaching Key Resistance area by KBC Bank
Forex Technical Report - Forex Wave Report by iFOREX.bg
Daily Trading Strategy - USD watch by MVDForex
Currencies at a Glance
- EUR/USD
- Continues to drop below first support level at 1.3541
05/16/2007 16:18 GMT - GBP/USD
- Drops below first support level at 1.9776
05/16/2007 16:18 GMT - USD/CHF
- Moving up toward second resistant level at 1.2237
05/16/2007 16:18 GMT - USD/JPY
- Continues to move up above second resistant level at 120.77
05/16/2007 16:18 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : CMS Forex, Danske Bank A/S, Finotec Group Inc., FXstreet.com, Global Forex Trading Ltd. , Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
USD GBP, Hourly
Top Market Movers Preview
Japan BOJ INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| May 17 | 04:00 | BoJ Interest Rate Decision | 0.5% | 0.5% |
Weekly Analysis - Euro Gains versus Dollar, Yen on Outlook for Interest-Rate Rise by Finotec Group Inc.
Japan's rate is 0.5 percent and the Federal Reserve's is 5.25 percent. Interest-rate futures suggest investors are betting the ECB will raise borrowing costs twice more this year.
[ Full Story ]- Tony Juste, FX Advisor at FXstreet.com: "What will happen this time? It should not be of any surprise that we'll be left with the rates unchanged and possibly a bit more hawkish bias for the rest of the year, hinting to the possibility of another rate hike before year-end. All in all, nothing that should really surprise the markets and that is likely not to be taken as a price mover this time, but all depending on Govenror Fukui's words on the short-term outlook, that might cause a bit of a shak
Top Market Movers Review
US INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 16 | 13:15 | Capacity Utilization | 81.6% | 81.5% | 81.2% |
| May 16 | 13:15 | Industrial Production (MoM) | 0.7% | 0.3% | -0.3% |
ECONOMIC REPORT: U.S. Industrial Output Rebounds In April (Dow Jones)
The output of the nation's factories, mines and utilities rebounded in April, with gains across all major categories, the Federal Reserve said Wednesday. Industrial production rose 0.7% in April. Production has been on a see-saw pattern for the past six months, partly due to weather factors.
[ Full Story ]- Read the Industrial Production and Capacity Utilization at Federal Reserve
- Industrial Production picks up in April (FXstreet.com)
- DATA SNAP: US Apr Indus Production +0.7%, Cap Use 81.6% -2- (Dow Jones)
- US April industrial output up 0.7 pct, capacity utilization 81.6 pct (AFX News)
The Week Ahead - CPI, Industrial Production, Housing Starts & Michigan Consumer Sentiment by BBVA Bancomer
US HOUSING STARTS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 16 | 12:30 | Housing Starts (YoY) | 1.530M | 1.480M | 1.518M |
The Week Ahead - CPI, Industrial Production, Housing Starts & Michigan Consumer Sentiment by BBVA Bancomer
We expect residential construction to subtract to GDP growth in Q207. In April, housing starts could have fell 3.5% to a seasonally adjusted annual rate of 1464K units from 1518K units in March.
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 16 | 08:30 | UK | Average Earnings including Bonus (3Mo/Yr) (Mar) | 4.5% | 4.8% | 4.6% |
| 09:00 | EMU | Consumer Price Index (MoM) (Apr) | 0.6% | 0.5% | 0.7% | |
| 09:00 | EMU | Consumer Price Index (YoY) (Apr) | 1.9% | 1.8% | 1.9% | |
| 09:30 | UK | Bank of England Quarterly Inflation Report | ||||
| 12:30 | US | Housing Starts (YoY) (Apr) | 1.530M | 1.480M | 1.518M | |
| 12:30 | CA | International Securities Transactions (Mar) | $4.7B | $3.0B | $4.8B | |
| 13:15 | US | Capacity Utilization (Apr) | 81.6% | 81.5% | 81.2% |
|
| 13:15 | US | Industrial Production (MoM) (Apr) | 0.7% | 0.3% | -0.3% |
|
| 23:50 | JP | Gross Domestic Product Annualized (1Q)  | 2.7% | 5.5% | ||
| May 17 | 01:30 | AU | Average Weekly Wages (QoQ) (Feb) | 0.7% | ||