Wednesday, May 06, 16:03 GMT
ASIA-PACIFIC Trading Newsletter
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- Learning Center: New Contents have been released! Chapter 3 of Unit A - Understand the Mechanics. Read it now!
- WEBINAR VIDEOS: Understanding the simple rules of Money Management – Part I: The Risk-to-Reward ratio by Sunil Mangwani
- All the events of the day in our Economic Calendar
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Forex Blogs
The Disciplined Trader: Update on EUR/USD Intra−day by Pierre Charlebois
Here's a snap of the EUR/USD one hour chart. We broke the lower trend−line but reversed back within the pattern shortly after. I have drawn a new diagonal line to this lower point as I still see some possibility in the "C" wave diagonal termination.
ForexHedge: A Tale of Two Depressions by Ron Schelling
The Advisor Blog: Stocks ready to rise by Valeria Bednarik
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Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, May 6, 17:00 GMT
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How to Get Started Trading Forex
Expert: Mark Whistler
Start: Thu, May 7, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, May 6, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, May 7, 09:00 GMT | Tracking the forex market together / Part I  | Dr.S.Sivaraman | WBN |  |
| Thu, May 7, 11:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Thu, May 7, 13:00 GMT | Tracking the forex market together / Part II | Dr.S.Sivaraman | WBN | |
| Thu, May 7, 15:00 GMT | How to Get Started Trading Forex | Mark Whistler | WBN | |
Current Session: U.S.
U.S. Update: Battle has just began
FXstreet.com Independent Analyst Team − Early U.S. report shown an important improvement in employment expectations, as ADP survey shown companies estimate a cut of 491.000 workers from April, indicating labor market is still weak yet seems to have bottomed. Market will remain cautious ahead of next couple of days macroeconomic data, trapped between risk appetite and specific economic outlooks for each economy. Daily charts in the USD/JPY are suggesting a probable inverted head and shoulders pattern, with today's low as a second shoulder.
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EUR/USD
Pair has reached the 61.8% retracement of the last down leg by FXstreet.com Independent Analyst Team
Price is above 20 SMA that is also turning up. New candle opening above previous mentioned 61.8% at 1.3365 will be first signal of continuation in the pair
USD/JPY
USD/CAD lost its initial gains and fights the 1.1750 level by Mataf.net
After reaching intra−day high at 1.1825, the USD/CAD has fallen around 110 pips to reach intra−day low at 1.1715 in the early American session. Currently the pair is trading around 1.1730/40 after losing its initial gains and be 0.26% down from todays opening price.
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
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| May 7 | 11:45 | ECB Interest Rate Decision | 1.00% | 1.25% |
ECB preview: Announcing non−standard measures by Danske Bank A/S
We expect the ECB to cut the refinancing rate by 25bp to 1.0%. This is likely to be the end of this cutting cycle as the governing council seems reluctant to go below 1%.
[ Full Story ]Asian Session – Focus on Bank Stress Test Dents Risk Appetite by ACM − Advanced Currency Markets
Live Daily Broadcast - Today's Live Show: Will the ECB "Soap Opera" Performance Hurt the EUR? by AllThingsForex
Top Market Movers Review
US ADP EMPLOYMENT CHANGE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 6 | 12:15 | ADP Employment Change | -491K | -644K | -708K |
UPDATE: ADP Survey Sees April US Private Sector Jobs −491K (Dow Jones)
Private sector jobs in the U.S. fell by a less than expected 491,000 slots in April, according to a national employment report published Wednesday by payroll giant Automatic Data Processing Inc. (ADP) and consultancy Macroeconomic Advisers.
[ Full Story ]- Read the Employment data at ADP
- CURRENCIES: Dollar Slips On Better−than−expected ADP Data (Dow Jones)
- CURRENCIES: Dollar Rises On Better−than−expected ADP Data (Dow Jones)
- U.S. markets open on strong note after ADP report; Dollar and Yen slightly down (FXstreet.com)
US economic indicators - ADP private employment probably unchanged by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 6 | 14:00 | CA | Ivey Purchasing Managers Index (Apr) | 53.7 | 40.5 | 43.2 |
| 14:30 | US | EIA Crude Oil Stocks change | 0.6M | 2.6M | 4.1M | |
| 22:45 | NZ | Unemployment Rate (1Q) | 5.3% | 4.7% |
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| 23:50 | JP | Monetary Base (YoY) (Apr) | 6.9% | |||
| May 7 | 01:30 | AU | Employment Change (Apr) | -25.0K | -34.7K | |
| 01:30 | AU | Unemployment Rate (Apr) | 5.9% | 5.7% | ||
| 07:15 | CH | Consumer Price Index (MoM) (Apr) | 0.6% | -0.3% | ||