Friday, May 15, 15:55 GMT
ASIA-PACIFIC Trading Newsletter
To Get Started
- NEW: Live Webinars during the Asian Trading Session: Markets Commentaries at 5 and 6 GMT. Check our schedule!
- Learning Center: Chapter 4 of Unit A is now online: Trade the facts: consider price action. Read it now!
- WEBINAR VIDEOS: Economic and Technical View of the Currency Market by Rob Booker
- All the events of the day in our Economic Calendar
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Forex Blogs
The Advisor Blog: U.S. good data by Valeria Bednarik
The CPI index was unchanged in April from March, in line with expectations, but the core CPI, which excludes food and energy prices, jumped 0.3% last month, the largest increase since June 2008 and well above expectations for a 0.1% increase.
FX Path: Psychology of Forex vs. Stocks from Robert Prechter, Jr. (Book Excerpt) by James Chen
CEO's Weblog: Wachovia - Confidence: Does Anyone Have Any? by Francesc Riverola
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Live Sessions Schedule
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Mon, May 18, 05:00 GMT
Type of Session: Webinar
How Will We Know When the Recession Ends?
Expert: Joseph Trevisani
Start: Tue, May 19, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, May 18, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN |  |
| Mon, May 18, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN |  |
| Mon, May 18, 10:00 GMT | Advanced Technical Analysis  | Peter Leonidou | WBN | |
| Mon, May 18, 12:00 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, May 18, 12:30 GMT | Trading Forex Volatility | James Chen | WBN | |
Current Session: U.S.
Indicators bearish momentum is over after reaching over sold state
FXstreet.com Independent Analyst Team − Following the mood of stocks, the pair set a fresh low for the week at 1.3510, 200 EMA in the hourly chart. Indicators bearish momentum is over after reaching over sold state, suggesting correction could extend if breaks under 1.3560 congestion zone. Failure at that point and a fresh low in the next hours, will likely trigger more sells in the pair, as bigger time frames remain bearish. Volume is quite high today
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GBP/USD
GBP/USD: Sterling, steady above 1.5215 after day−high at 1.5290 by FXstreet.com
The Sterling consolidates above 1.5215 after having reached 1.5290 intra−day high in rally from 1.5055 low ahead of the U.S. session opening. At the moment, the Pound trades at 1.5270.
EUR/JPY
EURJPY continues to look heavy by Saxo Bank
EURJPY continues to look heavy, though it is still in a rather interesting and constricting range as defined by the falling 200−day moving average and the rising trendline. Note the tactical resistance at the upper edge of the Ichimoku shadow.
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
US NAHB HOUSING MARKET INDEX
| Date (GMT) | Event | Cons. | Previous | |
| May 18 | 17:00 | NAHB Housing Market Index | 16 | 14 |
Friday Notes - NAHB housing market index: Builders confirm less pessimistic mood by UniCredit Group
Home−builders are experiencing the worst slump in their lifetime. But the degree of pessimism is diminishing. That doesn't mean that there will be a recovery in residential construction any time soon. That won't happen until next year or 2011.
[ Full Story ]Top Market Movers Review
US INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 15 | 13:15 | Industrial Production (MoM) | -0.5% | -0.6% | -1.7% |
| May 15 | 13:15 | Capacity Utilization | 69.1% | 68.8% | 69.4% |
US Apr Industrial Production −0.5%; Consensus −0.6% (Dow Jones)
U.S. industrial production tumbled a 15th time in 16 months during April, cut down by massive business inventory liquidation. Industrial production decreased by 0.5% in April compared to the prior month, the Federal Reserve said Friday.
[ Full Story ]- Table Of Data On US Capacity Utilization (Dow Jones)
- Table Of Data On US Industrial Production (Dow Jones)
- US Apr Industrial Production down 0.5% (FXstreet.com)
US CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 15 | 12:30 | Consumer Price Index Ex Food & Energy (MoM) | 0.3% | 0.1% | 0.2% |
| May 15 | 12:30 | Consumer Price Index (YoY) | -0.7% | -0.6% | -0.4% |
| May 15 | 12:30 | Consumer Price Index Ex Food & Energy (YoY) | 1.9% | 1.8% | 1.8% |
| May 15 | 12:30 | Consumer Price Index (MoM) | 0.0% | 0.0% | -0.1% |
DATA SNAP: US CPI Annual Drop Deepens; But Core Up Sharply (Dow Jones)
Annual U.S. inflation measures plunged deeper into the red last month, as falling energy and food prices brought consumer prices down by their fastest 12−month rate in over a half century.
[ Full Story ]- Read the CPI data at Labor Department
- Euro and Pound pick up after U.S data; Yen, down (FXstreet.com)
- U.S. CPI posts the largest yearly drop since 1955 (FXstreet.com)
- US Apr CPI unchanged from last month, −0.7% from last year (FXstreet.com)
US economic indicators - Inflation data (Apr): ongoing negative rates yoy by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 15 | 13:15 | US | Fed's Fisher's speech | |||
| 14:00 | US | Reuters/Michigan Consumer Sentiment Index (May)  | 67.9 | 67.0 | 65.1 | |
| May 17 | 09:00 | EG | CBE Interest Rate Decision | 9.5% | 10.0% | |
| 22:45 | NZ | Producer Price Index − Input (QoQ) (1Q) | 3.7% | |||
| 22:45 | NZ | Producer Price Index − Output (QoQ) (1Q) | 2.8% | |||
| 23:01 | UK | Rightmove House Price Index (MoM) (May) | 1.8% | |||
| 23:01 | UK | Rightmove House Price Index (YoY) (May) | -7.3% | |||