Tuesday, May 12, 16:00 GMT
ASIA-PACIFIC Trading Newsletter
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- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Surfing with The Pacifics: AUD/USD and AUD/JPY by Tim Salem
The Equity Desks in New York open with slight Bullish Momentum on the back of U.S. Trade Balance figures, as the Dollar/Equity Correlation is "Inverse" for now in the Immediate−Term. ( This has since Reversed with the Equities as Profit−Taking comes in early right at the Open… taking the Yen Crosses and Yen Strength with it…)
FX Path: USD/JPY - Dropping to 96.00 by James Chen
The Advisor Blog: Eur/Usd levels to watch by Valeria Bednarik
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Live Sessions Schedule
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Wed, May 13, 05:00 GMT
Type of Session: Webinar
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, May 13, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Tue, May 12, 17:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
| Wed, May 13, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN |  |
| Wed, May 13, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, May 13, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN |  |
| Wed, May 13, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
Current Session: U.S.
U.S. Update: U.K could lead the way
FXstreet.com Independent Analyst Team − U.S. data also come out better than expected, as Trade deficit widen less than expected to −27.6B. Wall Street opened to the upside, but was unable to hold gains and fell sending a mixed message after a two−month rally. Euro and Gbp continued firming up, although far from early highs. Despite oil spiked above 60 dollars a barrel, and Trade Balance printed a bigger−than−expected trade surplus in March, Canadian dollar fell against dollar after failing to reach the 1.1473 low.
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GBP/USD
GBP/USD Exhausted after reaching the 1.5350 zone by FXstreet.com Independent Analyst Team
Despite general bullish trend, pair seems exhausted both in hourly and 4 hours charts after reaching the 1.5350 zone. Corrections to the downside will find first static support around 1.5250, yet could extend to 1.5200 before pair resumes uptrend.
USD/JPY
USD/JPY: Classic "head and shoulders" pattern now forming by Master The Markets
With a classic "head and shoulders" pattern now forming in the daily chart for the dollar yen we now need to wait to see if the current downwards price action, as seen in yesterday's wide spread down bar, continues.
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 INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| May 13 | 09:00 | Industrial Production w.d.a. (YoY) | -17.6% | -18.4% |
| May 13 | 09:00 | Industrial Production s.a. (MoM) | -1.0% | -2.3% |
EMU economic indicators - EMU industrial production (March): down by BHF−Bank
French, Italian and EMU industrial production will probably have continued declining in March, because most of the correlated indicators deteriorated.
[ Full Story ]Top Market Movers Review
UK CLAIMANT COUNT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 12 | 13:00 | Claimant Count Rate | 4.7% | 4.7% | 4.5% |
| May 12 | 13:00 | Jobless Claims Change | 57.1K | 58.0K | 65.5K |
| May 12 | 13:00 | ILO Unemployment Rate (3M) | 7.1% | 6.9% | 6.7% |
DATA SNAP: UK Jobless At 12−Year High, Less Than Expected (Dow Jones)
The number of people claiming jobless benefits in the U.K. rose less than expected in April, but still hit its highest level for nearly 12 years, official data showed Tuesday.
[ Full Story ]- 2nd UPDATE: UK Jobless At 12−Year High, Less Than Expected (Dow Jones)
- UPDATE: UK Jobless At 12−Year High, Less Than Expected (Dow Jones)
- United Kingdom Apr Claimant Count Rate up to 4.7% vs 4.5% (FXstreet.com)
US TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 12 | 12:30 | Trade Balance | -$27.58B | -$28.90B | -$26.13B |
DATA SNAP: US Mar Trade Gap Rises Less Than Expected (Dow Jones)
The U.S. trade deficit widened for the first time in eight months during March, as the price and use of imported oil both climbed. The U.S. deficit in international trade of goods and services increased to $27.58 billion from February's revised $26.13 billion, the Commerce Department said Tuesday.
[ Full Story ]- CORRECT: DATA SNAP: US Mar Trade Gap Rises Less Than Expected (Dow Jones)
- Forex: GBP/USD: Pound rises to 1.5350 after U.S. Trade balance, approaching 1.5370 level (FXstreet.com)
- U.S. Trade deficit widens to $27.58B in March; Dollar weakens further (FXstreet.com)
US economic indicators - Trade deficit (Mar): rising after sharp fall to nine−year low in February by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 12 | 13:00 | UK | Average Earnings including Bonus (3Mo/Yr) (Apr) | -0.4% | -1.1% | 0.1% |
| 13:00 | UK | NIESR GDP Estimate (Apr) | -1.5% | -1.9% |
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| 18:00 | US | Monthly Budget Statement | -60.5B | -192.3B | ||
| 21:00 | US | ABC/Washington Post Consumer Confidence (May 10) | -43 | |||
| 23:50 | JP | Adjusted Current Account (Mar) | ¥513.5B | ¥673.4B | ||
| 23:50 | JP | Bank Lending (YoY) (Apr) | 3.4% | |||
| 23:50 | JP | Money Supply M2+CD (YoY) (Apr) | 2.3% | 2.2% | ||