Monday, May 11, 07:37 GMT
EUROPEAN Trading Newsletter
To Get Started
- Learning Center: Chapter 4 of Unit A is now online: Trade the facts: consider price action. 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
1st on Forex: Sell in May and Go Away? Panic Buying and the Fear of Missing Out by Tim Salem
Mind Your Head − Bank Stress Test Leaves No Pain! The US equity markets continue to look bullish and some are calling the Bears out for their final slaughter − The long awaited, delayed, and leaked Bank "Stress Test" hit the market with a whimper on Thursday.
The Advisor Blog: Asian hourly update by Valeria Bednarik
Forex Trading Today: EUR/JPY and GBP/JPY Look For Continued Appreciation 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
Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Mon, May 11, 09:00 GMT
Sponsored by: 
Type of Session: Webinar
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, May 11, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, May 11, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN | |
| Mon, May 11, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, May 11, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, May 11, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
Current Session: Europe
EUR/USD
May 11, 03:26 GMTEUR/USD: Getting more interesting with a weekly close above 1.3600
Mizuho Corporate Bank − Getting more interesting with a weekly close above 1.3600, above long term trendline resistance, and on of the highest closes this year. Similar formations in many other majors suggest generalised US dollar weakness takes hold this month – to the surprise of many who see this as ‘risk appetite'.
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GBP/USD
Currency Trading News − British Pound Makes Headway vs. US Dollar, Japanese Yen by DailyFX
The British pound remained under pressure versus most of the majors, but made headway against the big losers – the US dollar and Japanese yen – taking GBP/USD above 1.5155/65 and GBP/JPY above 150.00
AUD/USD
Forecast on USD Minors − AUDUSD had the highest close in seven months by Precise Trader
The Hourly Oscillators are bullish but weak so the bears have to get ready to march in and the bulls have to be cautious. Hourly Trend is Sideways Up and Daily Trend is also Sideways Up, so expect the price to make higher highs with a limited upside.
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
UK INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Cons. | Previous | |
| May 12 | 08:30 | Manufacturing Production (YoY) | - | -13.8% |
| May 12 | 08:30 | Manufacturing Production (MoM) | -0.8% | -0.9% |
| May 12 | 08:30 | Industrial Production (YoY) | - | -12.5% |
| May 12 | 08:30 | Industrial Production (MoM) | -0.7% | -1.0% |
Friday Notes - UK, industrial production: Close to the bottom by UniCredit Group
Surveys of factory activity were mixed for March, with the CBI still in free fall and the PMI marking a noticeable rebound. We expect industrial production to continue to contract unabated in March: total and manufacturing production should have been down 1.0% m−o−m.
[ Full Story ]Top Market Movers Review
US WHOLESALE INVENTORIES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 8 | 14:00 | Wholesale Inventories | -1.6% | -1.0% | -1.7% |
DATA SNAP: US Wholesale Inventories Fall Again In March (Dow Jones)
U.S. wholesale inventories fell for a seventh straight month in March as sales returned to negative territory after posting a small gain in February, a government report released Friday showed.
[ Full Story ]- Read the Wholesale Inventories data at Census Bureau
- US Mar Wholesale Inventories improve down 1.6% (FXstreet.com)
US economic indicators - Wholesale inventories are likely to have dropped by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 11 | 01:30 | AU | National Australia Bank's Business Conditions (Apr) | -10 | -17 | |
| 01:30 | AU | National Australia Bank's Business Confidence | -14 | -13 | ||
| 12:30 | CA | New Housing Price Index (MoM) (Mar) | -0.5 | -0.7 | ||
| 12:30 | CA | New Housing Price Index (YoY) (Mar) | -1.8% | |||
| 22:45 | NZ | Food Price Index (MoM) (Apr) | 0.5% | |||
| 23:01 | UK | BRC Retail Sales Monitor − All (YoY) | -1.2% | |||
| 23:01 | UK | RICS House Price Balance | -70.0% | -73.1% | ||
| 23:30 | US | Fed's Bernanke Speech | ||||
| May 12 | 01:30 | AU | Home Loans | 4.5% | 0.4% | |
| 01:30 | AU | Investment Lending (Mar) | -2.98% | |||