Friday, May 30, 07:58 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar VIDEOS: Intro to the 4x-Market A-Z by Adam Rosen
- Phil Newton Blog's: Trading Break outs strategy outline summarised
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Live Sessions Schedule
The Forex Basic Training Program − Chapter III
Expert: Wayne McDonell
Start: Fri, May 30, 11:00 GMT
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, May 30, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, May 30, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum  | Sunil Mangwani | WBN |  |
| Fri, May 30, 11:00 GMT | The Forex Basic Training Program − Chapter III | Wayne McDonell | WBN |  |
| Fri, May 30, 14:00 GMT | Banging around the Bands | Chris Capre | WBN | |
| Fri, May 30, 15:00 GMT | Fibonacci Friday | Andrei Pehar | WBN | |
Current Session: Europe
USD/JPY
Forex − Dollar softer in Tokyo afternoon after hitting 3−month highs vs yen by AFX News
TOKYO (Thomson Financial) − The U.S. dollar turned slightly lower against other major currencies after touching near three−month highs against the Japanese currency overnight.
At 1:03 p.m. (0403 GMT) the dollar was at 105.45 yen, down from 105.70 yen in early Sydney and 105.63 yen in late trade in New York on Thursday, while the euro was trading at $1.5517, compared to $1.5513 in Sydney and $1.5516 in New York
- 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
Daily Technical Analysis − EUR: Sell at 1.5500, adding to 1.5550; stop above 1.5655 by Mizuho Corporate Bank
FX Analysts' Comments
US GDP and Unemployment Figures:Good? −−> Oil: Bad? by Jerry Furst, Director Investors Education Network
Currencies at a Glance
- EUR/USD
- Trades below opening price level 1.5516 , below pivot level 1.5554
05/30/2008 06:54 GMT - GBP/USD
- Trades above pivot level 1.9752
05/30/2008 06:54 GMT - USD/CHF
- Trades around opening price level 1.0492 , above pivot level 1.0458
05/30/2008 06:55 GMT - USD/JPY
- Moves down below pivot level 105.33
05/30/2008 06:55 GMT
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| May 30 | 09:00 | Consumer Price Index (YoY) | 3.5% | 3.3% |
EMU economic indicators - The flash estimate for May could show EMU inflation increasing to 3.6 % yoy by BHF−Bank
The Eurostat flash estimate is likely to show that euro area inflation has accelerated to 3.6% yoy in May. This would correspond with a monthly increase of 0.5% in unadjusted terms.
[ Full Story ]Daily Forex Technical Report − EUR/USD Soft, EZ & US Inflation Watched by ActionForex.com
Top Market Movers Review
Germany RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 30 | 06:00 | Retail Sales (MoM) | -1.7% | 0.6% | -0.1% |
| May 30 | 06:00 | Retail Sales (YoY) | -1.0% | -2.0% | -6.3% |
UPDATE: German Apr Retail Sales Real Adj −1.7% MM,−1.0% YY (Dow Jones)
German retail sales headed lower in April, despite expectations of a rise, a further sign that concerns over energy and food price rises are capping household consumption in Europe's largest economy.
[ Full Story ]- Read the Retail Sales data at German Statistics
- German April retail sales down 1.7 percent from March, down 1.0 pct yr−on−yr (Thomson Financial News)
- German retail sales decline 1.0% y−o−y in April (FXstreet.com)
- DATA SNAP: German Apr Retail Sales Real Adj −1.7% MM,−1.0% YY (Dow Jones)
Japan INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 29 | 23:50 | Industrial Production (MoM) | -0.3% | -0.5% | -3.4% |
| May 29 | 23:50 | Industrial Production (YoY) | 1.8% | 1.6% | -0.7% |
Japan Apr Indus Output −0.3% On Mo; Mkt Expected −0.3% (Dow Jones)
Japanese industrial output fell 0.3% on month in April, marking the second consecutive month of decline, the government said Friday. Economists surveyed by Dow Jones Newswires and Nikkei estimated on average that industrial production had fallen 0.3% in April after adjustments for seasonal factors. The Ministry of Economy, Trade and Industry left its assessment of industrial output unchanged at "flat" for the fifth straight month.
[ Full Story ]- Read the Industrial Production report at Japan Ministry of Economy, Trade and Industry
- Japan's industrial output falls in April on slowing offshore demand − UPDATE (Thomson Financial News)
- Japan's industrial output falls 0.3 percent in April on slowing overseas demand (Thomson Financial News)
Japan NATIONAL CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 29 | 23:30 | Tokyo CPI ex Fresh Food (YoY) | 0.9% | 0.9% | 0.7% |
| May 29 | 23:30 | National CPI Ex Food, Energy (YoY) | -0.1% | 0.0% | 0.1% |
| May 29 | 23:30 | National Consumer Price Index (YoY) | 0.8% | 0.9% | 1.2% |
| May 29 | 23:30 | Tokyo CPI ex Food, Energy (YoY) | 0.1% | 0.0% | 0.0% |
| May 29 | 23:30 | National CPI Ex−Fresh Food (YoY) | 0.9% | 1.0% | 1.2% |
Japan Apr Core CPI +0.9% On Year; Mkt Expected +1.0% (Dow Jones)
Japan's core consumer price index rose 0.9% in April from a year earlier, the Ministry of Internal Affairs and Communications said Friday. The reading missed the 1.0% gain forecast by economists polled by Dow Jones Newswires and Nikkei. The latest core index figure, which excludes volatile fresh food prices, rose for the seventh straight month, following a 1.2% gain in March.
[ Full Story ]- Read the Consumer Price Index report at Statistics Bureau
- Japan inflation slows in April on suspension of gasoline surcharge (Thomson Financial News)
- Japan Outlook: April Nationwide CPI, Household Spending (Dow Jones)
Japan JOBLESS RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 29 | 23:30 | Jobless Rate | 4.0% | 3.9% | 3.8% |
Japan's Apr Jobless Rate 4.0%; Market Expected 3.9% (Dow Jones)
Japan's jobless rate rose to a seasonally adjusted 4.0% in April from the previous month's 3.8%, the government said Friday, suggesting the nation's employment conditions are worsening. Data from the Ministry of Internal Affairs and Communications also showed the total number of jobless rose for the first time in 29 months, increasing by 70,000 from the same month a year earlier to 2.75 million.
[ Full Story ]- Read the Labour Force report at Japan Statistics Bureau
- Japan unemployment rate rises to 4.0 pct in April, higher than forecast − UPDATE (Thomson Financial News)
- Japan's unemployment rate rises to 4.0 percent in April, higher than forecast (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 30 | 05:00 | JP | Construction Orders (YoY) (Apr) | -8.4% | -16.0% | 6.4% |
| 05:00 | JP | Housing Starts (YoY) (Apr) | -8.7% | -11.8% | -15.6% | |
| 06:00 | DE | Retail Sales (MoM) (Apr) | -1.7% | 0.6% | -0.1% | |
| 06:00 | DE | Retail Sales (YoY) (Apr) | -1.0% | -2.0% | -6.3% | |
| 09:00 | EMU | Consumer Price Index (YoY) (May)  | 3.5% | 3.3% | ||
| 09:00 | EMU | Unemployment Rate (Apr) | 7.1% | 7.1% | ||
| 09:30 | CH | KOF Leading Indicator (May) | 1.09 | 1.20 | ||
| 12:30 | US | Core Personal Consumption Expenditure − Prices Index (MoM) (Apr) | 0.1% | 0.2% | ||
| 12:30 | US | Core Personal Consumption Expenditure − Prices Index (YoY) (Apr) | 2.1% | 2.1% | ||
| 12:30 | CA | Gross Domestic Product (MoM) (Mar) | 0.1% | -0.2% | ||