Wednesday, May 20, 16:18 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
FX Path: EUR/USD − Potential Resistance Breakout Play by James Chen
Price action on EUR/USD (a daily chart of which is shown) has made a tentative break of strong resistance in the 1.3735 price region. This occurs after price bounced up off a key uptrend support line on Monday.
Forex Trading Today: Geithner Clips The Dollar on Rhetoric and Commentary by Tim Salem
CEO's Weblog: FINMA Opens Bankrupcy Process of Crown Forex S.A by Francesc Riverola
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Live Sessions Schedule
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, May 20, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Asian Session: Live Market Analysis
Expert: Dr.S.Sivaraman
Start: Thu, May 21, 05:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, May 20, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN |  |
| Wed, May 20, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, May 21, 05:00 GMT | Asian Session: Live Market Analysis | Dr.S.Sivaraman | WBN | |
| Thu, May 21, 13:00 GMT | MONTHLY WEBINAR: Part 1 − Day Trading The US Forex Session | Steve Misic | WBN | |
| Thu, May 21, 15:00 GMT | MONTHLY WEBINAR: Part 2 − Building a Mechanical Forex Trading System | Steve Misic | WBN | |
Current Session: U.S.
EUR/USD: Euro breaks 1.3725 resistance and hits 4−month high at 1.3794
FXsteet.com − The Euro has soared about 120 pips at the U.S session opening, reaching a 18−week high at 1.3794 so far on the back of increased risk appetite produced by the positive opening of in U.S. markets, and Geithner's comments Assuring that the U.S. Banks' stress test has helped to boost confidence.
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GBP/USD
Economic Growth Boosts Risk Appetite, Commodity Prices by ForexYard
As market optimism takes hold, safe−haven assets such as the USD begin to weaken. Traders have witnessed recently as the greenback has lost strength to most other currencies, and commodity prices have begun to climb back to 2007−2008 price levels. Is the recession coming to an end?
USD/JPY
Currency Majors Technical Perspective − Still under pressure after breaking under 96.00 by FXstreet.com Independent Analyst Team
Still under pressure after breaking under 96.00, indicators in the hourly chart are quite flat, but slightly bearish, while 20 SMA above actual price kept the bearish slope.
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 ]Daily Market Report - Economic releases include U.S. Housing Minutes of April 29 FOMC Meeting by Wachovia
Friday Notes - FOMC minutes (april): Zero interest rate policy by UniCredit Group
Top Market Movers Review
Canada LEADING INDICATORS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 20 | 12:30 | Leading Indicators (MoM) | -1.1% | -1.0% | -1.5% |
Canada Leading Indicator drops for 8th month in a row in April; USD/CAD at key support (FXstreet.com)
Economic activity shrank 1.0% in Canada in April for the eighth consecutive time, the largest negative period since the early 90's recession.
[ Full Story ]- Read the Leading Indicators data at Statistics Canada
- Canada Leading Indicators down 1.1% in Apr (FXstreet.com)
Canada CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 20 | 11:00 | Bank of Canada Consumer Price Index Core (YoY) | 1.8% | 1.8% | 2.0% |
| May 20 | 11:00 | Bank of Canada Consumer Price Index Core (MoM) | 0.1% | 0.1% | 0.3% |
| May 20 | 11:00 | Consumer Price Index (YoY) | 0.4% | 0.6% | 1.2% |
| May 20 | 11:00 | Consumer Price Index (MoM) | -0.1% | 0.2% | 0.2% |
Forex: USD/CAD falls after CPI data and tests 1.1500 level (FXstreet.com)
USD/CAD has fallen further after the worst than expected April Canadian Consumer Price Index and the pair has fallen around 50 pips in the first minutes after releases to break the 1.1525 support and test 1.1500level.
[ Full Story ]- Read the CPI data at Statistics Canada
- Canada Apr CPI (MoM) decreases 0.1% in apr, +0.4% YoY (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 20 | 13:30 | US | Treasury's Geithner Speech | |||
| 14:30 | US | EIA Crude Oil Stocks change | -2.1M | -1.3M | -4.7M | |
| 18:00 | US | FOMC Minutes | ||||
| 22:45 | NZ | Visitor Arrivals (Apr) | -0.5% | |||
| 23:50 | JP | Tertiary Industry Index (MoM) (Apr) | -1.5% | -0.8% | ||
| May 21 | 01:30 | AU | New Motor Vehicle Sales (MoM) (Apr) | -3.2% | ||
| 01:30 | AU | New Motor Vehicle Sales (YoY) (Apr) | -22.6% | |||