Tuesday, May 19, 16:14 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
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
FX Path: EUR/GBP − Testing/Breaking Support by James Chen
Bearish price action in the last several days on EUR/GBP, a daily chart of which is shown, has brought the pair down to test and tentatively break key 0.8800 support as of Tuesday (5/19/2009) morning. Continued bearishness on this move should quickly target further support in the 0.8660 price region.
The Advisor Blog: Gbp/Usd ascendant channel by Valeria Bednarik
Forex Trading Today: Risk Appetite Prevails with GBP/USD as Corrections Are Delayed by Tim Salem
Find other fellow traders to share your comments and market view in the FOREX FORUM
Sponsored by 
Live Sessions Schedule
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Wed, May 20, 05:00 GMT
Type of Session: Webinar
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, May 20, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Tue, May 19, 16:00 GMT | How Will We Know When the Recession Ends? | Joseph Trevisani | WBN |  |
| Tue, May 19, 17:00 GMT | Live Look at Today's Markets  | Derek Frey | WBN |  |
| Wed, May 20, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Wed, May 20, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, May 20, 10:00 GMT | Trading Waves with Fibonacci | Phil Newton | WBN |  |
Current Session: U.S.
U.S. Update: GBP is the star of the day
FXstreet.com − Early in the U.S. housing starts and building permits both sank to record lows in April, according to a government report released Tuesday, but the same report also showed signs of stabilization in the single−family core of the housing market. Housing starts fell 12.8% to a seasonally adjusted annual rate of 458,000, down 12.8% from a revised 525,000 in March. Just above the 1.5500 zone, Cable daily chart indicators suggest more upside in the pair, with a first target around 1.5590, roof of an ascendant channel.
.
EUR/USD
Forex Daily Analysis − Safe Haven Currencies Tumble as Optimism Returns by ForexYard
The hourly chart is showing mixed signals with its Slow Stochastic fluctuating at the neutral territory. However, a bearish cross forming on the 4−hour chart's Slow Stochastic implies that downwards correction might take place in the nearest time frame.
USD/JPY
Currency Trading Majors Pairs − Daily close above 96.60 will be key to confirm the upside in the next day by FXstreet.com Independent Analyst Team
Pair regain the upside yesterday, thus 4 hours charts remain unclear for the pair. Hourly indicators seem a bit exhausted to the downside at the moment, but price under 20 SMA and the flat slope of the moving average are keeping the pair under selling pressure
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 FOMC MINUTES
| Date (GMT) | Event | Cons. | Previous | |
| May 20 | 18:00 | FOMC Minutes | - | - |
US economic indicators - FOMC minutes (29 Apr): adjusted projections for 2009 to 2011 by BHF−Bank
The FOMC minutes of the meeting on 28/29 April will include adjusted projections for GDP growth, inflation and unemployment. Three months ago, the FOMC expected a central tendency for 2009 GDP growth (Q4/Q4) of –1.3% to 0.5%, but after two quarters of annualised negative growth rates of more than 6% qoq, the range could be revised to –2.0% to –0.5%.
[ Full Story ]Friday Notes - FOMC minutes (april): Zero interest rate policy by UniCredit Group
Top Market Movers Review
US HOUSING STARTS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 19 | 12:30 | Building Permits (MoM) | 0.494M | 0.530M | 0.516M |
| May 19 | 12:30 | Housing Starts (YoY) | 458K | 520K | 530K |
DATA SNAP: US Apr Housing Starts Unexpectedly Fall (Dow Jones)
Home construction unexpectedly fell during April, brought down by a large decline in apartment groundbreakings that offset a modest gain in single−family housing starts. Housing starts dropped 12.8% to a seasonally adjusted 458,000 annual rate compared to the prior month, the Commerce Department said Tuesday.
[ Full Story ]- Read the Housing Starts data at Census Bureau
- UPDATE: US Housing Starts Fall In April As Apartments Crash (Dow Jones)
- Forex: GBP/USD: Pound drops to 1.5450 after U.S. housing data (FXstreet.com)
- Forex: EUR/USD: Euro drops from 1.3660 after disappointing U.S. Housing Starts (FXstreet.com)
US economic indicators - Housing starts & building permits (Apr): stabilizing at low levels by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 19 | 12:30 | US | Building Permits (MoM) (Apr) | 0.494M | 0.530M | 0.516M |
| 12:30 | US | Housing Starts (YoY) (Apr) | 458K | 520K | 530K |
|
| 17:15 | US | Fed's Stern speech | ||||
| 21:00 | US | ABC/Washington Post Consumer Confidence (May 17) | -42 | |||
| 23:50 | JP | Gross Domestic Product (QoQ) (1Q)  | -4.3% | -3.2% | ||
| 23:50 | JP | Gross Domestic Product Annualized (1Q) | -16.1% | -12.1% | ||
| May 20 | 00:30 | AU | Westpac Consumer Confidence (May) | 8.3% | ||