Friday, May 16, 07:24 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar VIDEOS: Advanced APF Methods To Determine The Price Momentum by Sunil Mangwani
- Streaming FX Rates: All currencies of the world
- Questions about Forex trading? FXWizard has the answers
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Live Sessions Schedule
Dan Blystone's Daily Briefing
Expert: Dan Blystone
Start: Fri, May 16, 12:30 GMT
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, May 16, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, May 16, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN |  |
| Fri, May 16, 11:00 GMT | FX Instructor Live Trading Room | Mark De La Paz | WBN |  |
| Fri, May 16, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN |  |
| Fri, May 16, 13:00 GMT | Constructing the ideal currency trade | Adam Rosen | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades − EURUSD, AUDUSD, EURCHF daily outlook − Friday 05.16.2008 by E−Forex
The Euro continues to look for direction into rangebound configuration. A break above 1.5595 preferably 1.5650 is needed to confirm a resume of the uptrend while the downside should extend below 1.5360 to re−establish bearish structure on short−term studies. Intra−day support is seen at 1.5435, 1.5400 and 1.5365 while resistance emerges at 1.5500 followed by 1.5545−50 and 1.5595. Current quote is 1.5477
- Dan Blystone's Daily Briefing at 12:30 GMT/08:30 EDT
- Using CCI and Stochastics For Long and Short Term Forex Trading by Sam Seiden, Stocks and Commodities Instructor
- 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
Today's Technical Trading Points by Danske Bank A/S
FX' Signal
Daily FX Forecast by S.A.F.E. Ltd
Currencies at a Glance
- EUR/USD
- Trades around pivot level 1.5471
05/16/2008 06:46 GMT - GBP/USD
- Trades around opening price level 1.9474 , above pivot level 1.9457
05/16/2008 06:46 GMT - USD/CHF
- Trades around pivot level 1.0549
05/16/2008 06:47 GMT - USD/JPY
- Moves down below opening price level 104.73 , below pivot level 104.82
05/16/2008 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 TRADE BALANCE S.A.
| Date (GMT) | Event | Cons. | Previous | |
| May 16 | 09:00 | Trade Balance s.a. | - | €2.1B |
| May 16 | 09:00 | Trade Balance n.s.a. | €0.9B | €0.8B |
EMU economic indicators - German GDP is expected to have soared in Q1 by BHF−Bank
March EMU industrial production is expected to have decreased somewhat, just like the average of the corresponding national figures. Following its usual seasonal pattern, the EMU trade balance will probably have improved in March.
[ Full Story ]Top Market Movers Review
Japan CONSUMER CONFIDENCE HOUSEHOLDS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 16 | 05:00 | Consumer Confidence Households | 35.2 | - | 36.7 |
Japan Govt: Consumer Sentiment Index 35.2 Apr Vs 36.7 Mar (Dow Jones)
Consumer sentiment in Japan worsened in April from the previous month, the government said Friday. The index for the Cabinet Office's consumer confidence survey, which measures consumers' economic outlook for the coming six months, fell 1.5 points to 35.2 in April. The index stood at 36.7 in March and 36.1 in February.
[ Full Story ]- Read the Consumer Confidence report at Japan Cabinet Office
- Japan consumer confidence drops to fresh−5 year low in April (Thomson Financial News)
Japan INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 16 | 04:30 | Industrial Production (YoY) | -0.7% | - | 5.1% |
| May 16 | 04:30 | Capacity Utilization | 102.6 | - | 106.3 |
| May 16 | 04:30 | Industrial Production (MoM) | -3.4% | -3.1% | 1.6% |
Japan Mar Revised Indus Output −3.4% M/M Vs −3.1% Prelim (Dow Jones)
Industrial output in Japan fell a revised 3.4% on month in March, worse than the 3.1% decline intially reported two weeks ago, the government said Friday. Revised data from the Ministry of Economy, Trade and Industry also showed that shipments slipped 3.9% during the month, while inventories gained 0.1%. The March factory operating ratio decreased 3.5% from the previous month.
[ Full Story ]- Read the Industrial Production report at Japan Ministry of Economy, Trade and Industry
- Japan's revised March industrial output down 3.4 pct vs Feb; worse than forecast (Thomson Financial News)
Japan GROSS DOMESTIC PRODUCT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 15 | 23:50 | Gross Domestic Product Annualized | 3.3% | 2.5% | 3.5% |
| May 15 | 23:50 | Gross Domestic Product (QoQ) | 0.8% | 0.6% | 0.9% |
Overnight Briefing: Far East Timezone - Japan 1st quarter GDP grew 0.8 % by Jyske Bank
Japan's economic growth unexpectedly picked up pace in the first quarter thanks to firm exports and consumption, allaying fears that deepening global financial market problems may take a toll on the world's second−largest economy.
[ Full Story ]- Read the Gross Domestic Product report at Japan Cabinet Office
- Japan January−March GDP Table Of Data (Dow Jones)
- Japan GDP grows faster than expected in Q1 on strong exports, consumption UPDATE (Thomson Financial News)
- Japan Q1 GDP component quarter−on−quarter percentage changes (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 16 | 04:30 | JP | Industrial Production (MoM) (Mar) | -3.4% | -3.1% | 1.6% |
| 05:00 | JP | Consumer Confidence Households (Apr) | 35.2 | 36.7 | ||
| 06:00 | JP | Machine Tool Orders (YoY) (Apr) | 0.4 | 0.3 | ||
| 07:15 | CH | Adjusted Real Retail Sales (YoY) (Mar) | 9.7% | 3.0% | 3.3% | |
| 09:00 | EMU | Trade Balance n.s.a. (Mar) | €0.9B | €0.8B | ||
| 09:00 | EMU | Trade Balance s.a. (Mar) | €2.1B | |||
| 12:30 | US | Building Permits (MoM) (Apr) | 910K | 928K | ||
| 12:30 | US | Housing Starts (YoY) (Apr) | 935.000K | 0.947M | ||
| 12:30 | CA | New Motor Vehicle Sales (MoM) (Mar) | 0.1% | -3.2% | ||
| 14:00 | US | Reuters/Michigan Consumer Sentiment Index (May)  | 62.5 | 62.6 | ||