Wednesday, May 14, 07:42 GMT
EUROPEAN Trading Newsletter
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Live Sessions Schedule
FX Instructor Live Trading Room
Expert: Mark De La Paz
Start: Wed, May 14, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Dan Blystone's Daily Briefing
Expert: Dan Blystone
Start: Wed, May 14, 12:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, May 14, 09:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN | |
| Wed, May 14, 10:00 GMT | Tracking the forex market together / Part I  | Dr.S.Sivaraman | WBN |  |
| Wed, May 14, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN | |
| Wed, May 14, 13:00 GMT | Level of Sentiment in the FX Market | Antonio Sousa | WBN |  |
Current Session: Europe
EUR/USD
Daily Recommended Trades − EURUSD, AUDUSD, EURCHF daily outlook − Wednesday 05.14.2008 by E−Forex
Yesterday's pullback into the mid 1.54 zone suggests that more rangebound action is likely to be seen into the 1.5450−1.5550 zone. Downside risk remains high since the dollar bulls are back and only above the 1.5595−1.5650 resistance levels would signal a resume of the uptrend. Intra−day support is seen at 1.5435 but it seem fragile and may accelerate a decline towards 1.5350−60 if broken.
- Dan Blystone: Dan Blystone's Daily Briefing at 12:30 GMT/08:30 EDT
- 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
Banks' Analysis
Morning Report − The New Zealand dollar lagged the other major currencies again overnight by Westpac Institutional Bank
Currency Performance
Currency Performance Report − US Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Trades around opening price level 1.5471 , below pivot level 1.5489
05/14/2008 06:46 GMT - GBP/USD
- Trades around opening price level 1.9451 , below pivot level 1.9486
05/14/2008 06:47 GMT - USD/CHF
- Trades around opening price level 1.0526 , above pivot level 1.0499
05/14/2008 06:47 GMT - USD/JPY
- Trades around opening price level 104.75 , above pivot level 104.34
05/14/2008 06:47 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
EMU INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| May 14 | 09:00 | Industrial Production s.a. (MoM) | -0.3% | 0.3% |
| May 14 | 09:00 | Industrial Production w.d.a. (YoY) | 2.3% | 3.1% |
Friday Notes - Banks tightening lending standards by HVB Group
After resilient figures for January and February, we expect EMU industrial production to have corrected in March. Moreover, surveys published recently suggest that the production trend may have entered a period of significantly slower growth.
[ Full Story ]Top Market Movers Review
Australia WAGE PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 14 | 01:30 | Wage Price Index (QoQ) | 0.9% | 1.1% | 1.1% |
| May 14 | 01:30 | Wage Price Index (YoY) | 4.1% | 4.3% | 4.2% |
Australia 1Q Wage Index +0.9% On Qtr Vs Consensus +1.1% (Dow Jones)
Australian wages excluding bonuses rose 0.9% in the first quarter of 2008 from the fourth quarter 2007 and rose 4.1% from a year earlier, Australian Bureau of Statistics labor price data issued Wednesday show. Economists surveyed ahead of the announcement on average forecast a rise of 1.1% over the quarter.
[ Full Story ]- Read the Wage Price Index report at Australian Bureau of Statistics
- Australia's Q1 wage cost index index up 0.9 pct vs 1.1 pct consensus rise (Thomson Financial News)
Japan DOMESTIC CORPORATE GOODS PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 13 | 23:50 | Domestic Corporate Goods Price Index (YoY) | 3.7% | 3.6% | 3.9% |
| May 13 | 23:50 | Domestic Corporate Goods Price Index (MoM) | 0.6% | 0.5% | 0.5% |
Japan Apr Domestic CGPI +3.7% On Year Vs +3.9% In Mar (Dow Jones)
Japan's domestic corporate goods prices rose 3.7% in April from a year earlier to 107.3, the Bank of Japan said Wednesday. It marked the 50th straight month of rise on the back of strong international commodity prices. The rise was larger the 3.6% on−year growth that Tokyo−based analysts surveyed by Dow Jones had forecast on average.
[ Full Story ]- Read the Domestic Corporate Goods Price Index report at Bank of Japan
- Japan April corporate goods price index up 3.7 percent yr−on−yr (Thomson Financial News)
- Japan April Corporate Goods Price Index Table Of Data (Dow Jones)
Japan ADJUSTED CURRENT ACCOUNT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 13 | 23:50 | Trade Balance − BOP Basis | ¥1250.7B | ¥1233.0B | ¥1035.3B |
| May 13 | 23:50 | Adjusted Current Account | ¥2096.6B | ¥1959.7B | ¥1461.1B |
Japan Mar Unadjusted Curr Acct Surplus Y2.883T (Dow Jones)
Japan's current account surplus shrank for the first time in three months in March, falling 12.3% from a year earlier, the Finance Ministry said Wednesday. The surplus in the current account, the broadest measure of Japan's trade with the rest of the world, stood at Y2.883 trillion in March before seasonal adjustment, the data showed. That was wider than expected by economists surveyed by Dow Jones and Nikkei, who estimated a surplus of Y2.776 trillion.
[ Full Story ]- Read the Current Account report at Japan Ministry of Finance
- Japan March current account surplus falls 12.3 pct, but above forecast UPDATE 2 (Thomson Financial News)
- Japan March Current Account Table Of Data (Dow Jones)
- Japan March current account surplus falls 12.3 pct, but above forecast − UPDATE (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 13 | 23:50 | JP | Adjusted Current Account (Apr) | ¥2096.6B | ¥1959.7B | ¥1461.1B |
| 23:50 | JP | Domestic Corporate Goods Price Index (YoY) (Apr) | 3.7% | 3.6% | 3.9% | |
| May 14 | 01:30 | AU | Wage Price Index (QoQ) (1Q) | 0.9% | 1.1% | 1.1% |
| 01:30 | AU | Wage Price Index (YoY) (1Q) | 4.1% | 4.3% | 4.2% | |
| 08:30 | UK | Average Earnings excluding Bonus (3Mo/Yr) (Mar) | 3.8% | 3.8% | ||
| 08:30 | UK | Average Earnings including Bonus (3Mo/Yr) (Mar) | 3.7% | 3.7% | ||
| 08:30 | UK | Claimant Count Rate (Apr) | 2.5% | 2.5% | ||
| 08:30 | UK | ILO Unemployment Rate (Mar) | 5.2% | 5.2% | ||
| 08:30 | UK | Jobless Claims Change (Apr) | 0.0 | -1.2K | ||
| 09:00 | EMU | Industrial Production s.a. (MoM) (Mar) | -0.3% | 0.3% | ||