Friday, May 08, 07:29 GMT
EUROPEAN Trading Newsletter
To Get Started
- Learning Center: New Contents have been released! Chapter 3 of Unit A - Understand the Mechanics. Read it now!
- Webinar Videos: Understanding the simple rules of Money Management – Part I: The Risk-to-Reward ratio by Sunil Mangwani
- All the events of the day in our Economic Calendar
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Forex Blogs
The Trader's Edge: NFP and EUR/USD by Ross Yamashita
As we gear up for the NFP − just wanted to give everyone a snapshot of the Euro. The general consensus −550K to −600K with a 8.6% − 8.9% unemployment rate forecast. We'll see how the numbers pan out in about 8 hours.
FX Market Readings: Expected moves in EURO and GBP for NFP data release time by Dr.S. Sivaraman
Forex Trading Today: GBP/JPY Looks to an IntraDay Bear Flag Formation for Yen Srength I and II by Tim Salem
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 36th Edition
Expert: Wayne McDonell
Start: Fri, May 8, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, May 7, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
| Fri, May 8, 11:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 36th Edition | Wayne McDonell | WBN | |
| Mon, May 11, 12:30 GMT | Trading Forex Volatility  | James Chen | WBN |  |
| Mon, May 11, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
Price remains in a Horizontal Consolidation Range framed by 1.3336 to 1.3427
FXstreet.com Independent Analyst Team − Price remains in a Horizontal Consolidation Range framed by 1.3336 to 1.3427 as Price shuttles between Daily Dynamic Support and Static Resistance. Both the 20 and 200 Hourly MA's along with RSI Readings and Slope are slightly Bullish, and another touch of 1.3427 in the Immediate−Term confirms the continued Dynamic Support of the 20SMA, and remaining above the 1.3369 Daily Pivot Area.
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GBP/USD
Daily Technical Analysis − Retreating from a recent high at 1.5198 by Mizuho Corporate Bank
Retreating from a recent high at 1.5198, just under January's high at 1.5375. Cable should re−group today in order to mount another upside attack next week. A weekly close above 1.5150 should add to bullish pressure, though maybe not convincingly.
AUD/USD
Daily Recommended Trades − The Aussie dollar continues to climb higher by E−Forex
The Aussie dollar continues to climb higher, approaching the key resistance at .7675 − bottom of 2007. A potential breach above the said level should open .7930. Intra−day support is formed at .7500/10 backed by .7475 and .7420.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
Germany INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| May 8 | 10:00 | Industrial Production s.a. (MoM) | -1.3% | -2.9% |
EMU economic indicators - Output in the German producing sector (March): down by BHF−Bank
German industrial new orders and output in the German producing sector will probably have continued decreasing in March, albeit at a slower pace again, because the correlated indicators deteriorated at diminishing rates or even improved.
[ Full Story ]Top Market Movers Review
Germany TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 8 | 06:00 | Trade Balance | 11.3B | 8.0B | 8.6B |
German March Trade Surplus EUR11.3B Vs EUR8.6B In Feb (Dow Jones)
Germany's trade surplus was much higher than expected despite a sharp 16% year−on−year drop in exports, the federal statistics office said Friday. The trade surplus rose from February to EUR11.3 billion from EUR8.6 billion.
[ Full Story ]- Read the Trade Balance data at German Statistics
- 2nd UPDATE: German Mar Trade Surplus EUR11.3B Vs EUR8.6B Feb (Dow Jones)
- UPDATE: German March Trade Surplus EUR11.3B Vs EUR8.6B In Feb (Dow Jones)
- Germany Trade Balance at €11.3B in Mar (FXstreet.com)
US BANK STRESS TEST INFO
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 7 | 21:00 | Bank Stress Test Info | - | - | - |
U.S. Treasury: 10 Of 19 Banks Need To Raise $75B In Capital (FXstreet.com)
Ten of the 19 largest U.S. financial institutions will be required to raise a combined $75 billion in capital, as the U.S. government for the first time divided healthy banks from those which may need help to weather a worsening economy. U.S. officials stressed that the move to bolster capital needs to occur across the banking industry, not just at the 19 largest firms.
[ Full Story ]- Read the Bank data at Federal Reserve
Market Sense - Hold on to the stress by UniCredit Group
Start the Day - US stress−tested banks have until June 8th to outline how they will raise capital by Mizuho Corporate Bank
Daily Forex Outlook - Leaked Bank Stress Tests fuel Rally by Easy Forex
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 7 | 23:50 | JP | BoJ Minutes | |||
| May 8 | 05:45 | CH | Unemployment Rate (Apr) | 3.5% | 3.5% | 3.4% |
| 05:45 | CH | Unemployment Rate s.a. (Apr) | 3.4% | 3.4% | 3.3% | |
| 06:00 | DE | Trade Balance (Mar) | 11.3B | 8.0B | 8.6B |
|
| 08:30 | UK | Producer Price Index − Input (MoM) s.a (Apr) | 0.8% | 1.0% | ||
| 08:30 | UK | Producer Price Index − Input (YoY) n.s.a (Apr) | -3.5% | -0.4% | ||
| 08:30 | UK | Producer Price Index − Output (MoM) n.s.a (Apr) | 0.2% | 0.1% | ||
| 08:30 | UK | Producer Price Index − Output (YoY) n.s.a (Apr) | 0.7% | 2.0% | ||
| 10:00 | DE | Industrial Production s.a. (MoM) (Mar) | -1.3% | -2.9% | ||
| 10:00 | DE | Industrial Production s.a. w.d.a. (YoY) (Mar) | -20.9% | -20.6% | ||