Friday, May 08, 14:55 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- Learning Center: Chapter 4 of Unit A is now online: Trade the facts: consider price action. 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
Forex Trading Today: Equities Keep EUR/USD and GBP/JPY Inversely Well−Bid by Tim Salem
With Non−Farm Payrolls Clocking In at 539K Loss, and with 8.9% Unemployment and a 39K Revision from last month, our Thoughts on the Numbers being "Closer" to the −600's came to Fruition… as this proved Dollar−Negative Sentiment than some of the Consensus of −500 to −400 Losses would have been.
The Disciplined Trader: EUR/USD update for Friday by Pierre Charlebois
FX Path: Emotional Trading in the Forex Market (Book Excerpt) by James Chen
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Mon, May 11, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, May 11, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, May 11, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Mon, May 11, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, May 11, 12:30 GMT | Trading Forex Volatility | James Chen | WBN | |
| Mon, May 11, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, May 11, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
Current Session: U.S.
EURUSD: Good data in the U.S. is leading high yielders higher
FXstreet.com Independent Analyst Team − Good data in the U.S. is leading high yielders higher, with euro attempting to break above the daily channel roof around 1.3520. Hourly indicators remain clearly bullish, RSI is about to enter over bought zone in the hourly chart, not meaning a retracement is close. Clear break above channel could trigger more buying in the pair. Volume is high at this time.
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GBP/USD
GBP/USD: Pound back below 1.5060, pares gains by FXstreet.com
The Pound could not hold the post Non−Farm Payrolls data and has dropped back from intra−day high at 1.5120 to levels below previous session high at 1.5070.
USD/JPY
Daily Technical Strategist − USDJPY: Retargeting The 99.68 Level by ForexYard
USDJPY: With a recovery higher seen Thursday following its corrective pullbacks initiated at the 99.55 level, its May 04'09 high, a return to the 99.68 level, its Mar 05'09 high is likely.
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
UK INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Cons. | Previous | |
| May 12 | 08:30 | Manufacturing Production (YoY) | - | -13.8% |
| May 12 | 08:30 | Manufacturing Production (MoM) | -0.8% | -0.9% |
| May 12 | 08:30 | Industrial Production (YoY) | - | -12.5% |
| May 12 | 08:30 | Industrial Production (MoM) | -0.7% | -1.0% |
Friday Notes - UK, industrial production: Close to the bottom by UniCredit Group
Surveys of factory activity were mixed for March, with the CBI still in free fall and the PMI marking a noticeable rebound. We expect industrial production to continue to contract unabated in March: total and manufacturing production should have been down 1.0% m−o−m.
[ Full Story ]Top Market Movers Review
US WHOLESALE INVENTORIES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 8 | 14:00 | Wholesale Inventories | -1.6% | -1.0% | -1.7% |
DATA SNAP: US Wholesale Inventories Fall Again In March (Dow Jones)
U.S. wholesale inventories fell for a seventh straight month in March as sales returned to negative territory after posting a small gain in February, a government report released Friday showed.
[ Full Story ]- Read the Wholesale Inventories data at Census Bureau
- US Mar Wholesale Inventories improve down 1.6% (FXstreet.com)
US economic indicators - Wholesale inventories are likely to have dropped by BHF−Bank
US NONFARM PAYROLLS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 8 | 12:30 | Nonfarm Payrolls | -539K | -620K | -699K |
| May 8 | 12:30 | Unemployment Rate | 8.9% | 8.9% | 8.5% |
DATA SNAP: US Payroll Drop Softens On Census Hiring (Dow Jones)
The pace of U.S. job losses tapered off a bit last month, suggesting that while the economy remains mired in a prolonged recession, it may be finally starting to find its footing.
[ Full Story ]- Read the Employment data at Labor Department
- U.S. Markets open with gains; Dollar tumbled on NFP (FXstreet.com)
- Forex: Dollar dumped immediately after payrolls report; watch for trend swings − GFT (FXstreet.com)
- USD/JPY: Dollar drops from 99.60 to 99.00 after NFP (FXstreet.com)
Daily Analysis - The Dollar falls against the Euro as Non−Farm payrolls come out today by Finotec Group Inc.
US Morning Notes - USD and JPY lower, equity markets rise ahead of nfp by Easy Forex
Asian Session: Waiting on NFP by ACM − Advanced Currency Markets
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 8 | 12:30 | US | Average Weekly Hours (Apr) | 33.2 | 33.2 | 33.2 |
| 14:00 | US | Wholesale Inventories (Mar) | -1.6% | -1.0% | -1.7% |
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| 17:00 | US | Fed's Lacker speech | ||||
| May 11 | 00:00 | DE | Wholesale Price Index (MoM) (Apr) | -0.9% | ||
| 01:30 | AU | National Australia Bank's Business Confidence | -13 | |||
| 06:00 | JP | Machine Tool Orders (YoY) | -85.2% | |||
| 22:30 | US | Fed's Bernanke Speech | ||||