Friday, May 23, 07:24 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar VIDEOS: Longer-term Support and Resistance Trading: Setups and Rules by Rob Booker
- New features and filters in our Real-Time Economic Calendar
- Canadian Loonie - In the Box by Jerry Furst
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Live Sessions Schedule
Dan Blystone's Daily Briefing
Expert: Dan Blystone
Start: Fri, May 23, 12:30 GMT
Type of Session: Webinar
Black Swans − Taking advantage of the unexpected
Expert: John Jagerson
Start: Fri, May 23, 13:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, May 23, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN |  |
| Fri, May 23, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Fri, May 23, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN | |
| Fri, May 23, 13:00 GMT | Black Swans − Taking advantage of the unexpected | John Jagerson | WBN | |
Current Session: Europe
EUR/USD
Daily Technical Analysis − EUR: Possibly attempt tiny shorts on a bounce to 1.5800 by Mizuho Corporate Bank
Retreating from a recent high at 1.5814 and will probably hold below here today in what should be a quiet day's trading. Note that the Euro is not overbought and momentum is still bullish, and open interest is relatively high. We continue to watch for very slow topping activity between 1.5740 and 1.5900.
- Trading Range Bound and Trending Market Conditions Adam Rosen, CEO and Co−Founder 4xLounge
- 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
Currency Performance Report − Asia Session Performance by FXstreet.com
Currency Performance
Currency Performance Report − US Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Trades below pivot level 1.5745
05/23/2008 06:46 GMT - GBP/USD
- Trades above pivot level 1.9778
05/23/2008 06:46 GMT - USD/CHF
- Trades above pivot level 1.0296
05/23/2008 06:47 GMT - USD/JPY
- Trades around opening price level 104.09 , above pivot level 103.72
05/23/2008 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 PMI MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| May 23 | 08:00 | Purchasing Manager Index Services | 51.7 | 52.0 |
| May 23 | 08:00 | PMI Manufacturing | 50.5 | 50.7 |
EMU economic indicators - The May RBS PMI manufacturing indices for Germany and the EMU could be unchanged too by BHF−Bank
In view of the above, the RBS purchasing managers' index for the German and the EMU manufacturing sector and Belgian business confidence are all likely to have remained at the same level in May, whereas Italian consumer confidence could have fallen somewhat.
[ Full Story ]Top Market Movers Review
Japan BOJ MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 22 | 23:50 | BoJ Minutes | - | - | - |
Bank of Japan sees downside risks to economy rising − minutes (Thomson Financial News)
The Bank of Japan's policy board members agreed that downside risks to the Japanese economy are rising in light of unstable global financial markets, a slowing U.S. economy and rising energy and raw material prices, minutes of their April 8−9 meeting showed on Friday. Some members said that consumers' inflation expectations were increasing due to rising prices of daily goods and "this warranted attention."
[ Full Story ]- Read the Minutes of the Monetary Policy Meetings at Bank of Japan
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 22 | 14:00 | US | Housing Price Index (MoM) (Mar) | -0.4 | 0.4 |
|
| 14:00 | US | Housing Price Index (YoY) (Mar) | -3.4% | -2.4% | ||
| 23:50 | JP | BoJ Minutes | ||||
| May 23 | 07:24 | CH | Trade Balance (Apr) | 1.10B | 1.25B | |
| 07:30 | DE | PMI Manufacturing (May)  | 53.2 | 53.6 | ||
| 07:30 | DE | Purchasing Manager Index Services (May) | 54.0 | 54.9 | ||
| 08:00 | EMU | PMI Manufacturing (May) | 50.5 | 50.7 | ||
| 08:00 | EMU | Purchasing Manager Index Services (May) | 51.7 | 52.0 | ||
| 08:30 | UK | Gross Domestic Product (QoQ) (1Q) | 0.4% | 0.6% | ||
| 08:30 | UK | Gross Domestic Product (YoY) (1Q) | 2.5% | 2.8% | ||