Monday, May 12, 07:53 GMT
EUROPEAN Trading Newsletter
To Get Started
- From the Editor's Desk: Day Trading Series - Chapter VI: Tips and Tricks for Successful Day Trading by Markus Heitkoetter
- FX Services: Day trading resources
- Enjoy the New Streaming FX Charts by NetDania/FXCM
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Live Sessions Schedule
Understand & Use Fibonacci Ratio's Effectively
Expert: Sunil Mangwani
Start: Mon, May 12, 10:00 GMT
Sponsored by: 
Type of Session: Webinar
Dan Blystone's Daily Briefing
Expert: Dan Blystone
Start: Mon, May 12, 12:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Mon, May 12, 10:00 GMT | Understand & Use Fibonacci Ratio's Effectively | Sunil Mangwani | WBN | |
| Mon, May 12, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN |  |
| Mon, May 12, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN |  |
| Mon, May 12, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Steve Primo | WBN | |
Current Session: Europe
USD/JPY
Weekly Review and Outlook − Yen Surges Broadly as Risk Aversion Fights Back by ActionForex.com
Risk aversion was the main driving force towards the end of last week as markets witnessed a turn in the global equity markets as well as sharp rebound in the Japanese yen. While bad corporate results and the concern of continuation of the credit market crisis were still the factors affecting investors sentiments, there were growing concern that persistently high inflation, fueled of sharp rise in energy and food prices, are going to hurt the economy eventual
- Raghee Horner's Four Step Trading: Forex by Raghee Horner, co−Founder and Lead Trader Raghee.com
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Other Topics for this Session:
Currency Matrix by Global Market Research, Inc. (GMR)
Currency Performance
Currency Performance Report − Asia Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Moves down towards second support level 1.5357
05/12/2008 06:56 GMT - GBP/USD
- Moves down below first support level 1.9463
05/12/2008 06:57 GMT - USD/CHF
- Moves up above first resistant level 1.0487
05/12/2008 06:57 GMT - USD/JPY
- Moves up above pivot level 103.18
05/12/2008 06:57 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
UK TOTAL TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| May 12 | 08:30 | Total Trade Balance | - | -4.4B |
| May 12 | 08:30 | Goods Trade Balance | - | -£7.5B |
Hedging Range Trades - Pound Price Action Inching Lower, Hedge Offers Entry by FXCM
The Pound has been gradually declining against the US dollar along a well−defined downward−sloping channel since mid−March. The latest price action sees the pair at the bottom of this channel, with the coming days sure to bring volatility as the Bank of England readies an interest rate announcement.
[ Full Story ]Top Market Movers Review
Australia HOME LOANS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 12 | 01:30 | Home Loans | -6.1% | - | -5.9% |
Australian March Housing Finance −6.1% Vs −1.0% Consensus (Dow Jones)
The number of housing−finance approvals in Australia fell a seasonally adjusted 6.1% in March from February, the Australia Bureau of Statistics said Monday. Economists surveyed ahead of the announcement on average had expected a fall of 1.0% in March.
[ Full Story ]- Read the Housing Finance report at Australian Bureau of Statistics
- Australia's March housing finance falls 6.1 percent, more than forecast (Thomson Financial News)
Japan MONEY SUPPLY M2+CD
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 11 | 23:50 | Money Supply M2+CD (YoY) | 1.9% | - | 2.2% |
Japan April Money Supply Growth 1.9% Vs March 2.3% Growth (Dow Jones)
Japan's money supply, M2 plus certificate of deposits, grew 1.9% on year in April, slower than March's revised 2.3% on−year rise, the Bank of Japan said Monday. That was also slower than the 2.2% growth forecast on average by economists surveyed by Dow Jones and Nikkei. The M2 plus CDs figure includes money in time deposits and CDs, as well as cash and demand deposits.
[ Full Story ]- Read the Money Supply report at Bank of Japan
- Japan Apr Money Supply Table (Dow Jones)
- Japan money supply rises 1.9 percent in April, less than forecast (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 12 | 00:00 | DE | Whit Monday Market Holiday | |||
| 01:30 | AU | Home Loans (Mar) | -6.1% | -5.9% | ||
| 01:30 | AU | Investment Lending (Mar) | -7.2% | -9.5% | ||
| 06:00 | JP | Machine Tool Orders (YoY) (Apr) | 0.3 | 3.3 | ||
| 08:30 | UK | Goods Trade Balance (Mar) | -£7.5B | |||
| 08:30 | UK | Total Trade Balance (Mar) | -4.4B | |||
| 12:30 | CA | New Housing Price Index (YoY) (Apr) | 6.2% | |||
| 18:00 | US | Monthly Budget Statement (Apr) | -48.1B | |||
| 22:45 | NZ | Food Price Index (MoM) (Apr) | 0.7% | |||
| 23:01 | UK | BRC Retail Sales Monitor − All (YoY) (Apr) | -1.6% | |||