Thursday, May 14, 07:54 GMT
EUROPEAN Trading Newsletter
To Get Started
- NEW: Live Webinars during the Asian Trading Session: Markets Commentaries at 5 and 6 GMT. Check our schedule!
- Learning Center: Chapter 4 of Unit A is now online: Trade the facts: consider price action. Read it now!
- Webinar Videos: The Weather Report: Ichimoku Cloud Trading by Chris Capre
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Our Old Friend, Risk Aversion, Returns For A Visit! by Tim Salem
Wednesday surely saw The Return ( or for many Currency Units IntraDay… A Continuation… ) of Risk Aversion, as Corrections hit the Global and U.S. Equity Desks and Indices, and simply continued Correlative behavior by "Bleeding Out" to most Majors and the Yen Crosses.
Chartology: Trade Anatomy on the 60 min. USD/JPY by Raghee Horner
CEO's Weblog: AvaFX reports $11.8m in revenues in Q1 2009, achieves amazing Net Profit (market making pays off) says Michael Greenberg by Francesc Riverola
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
Forex Basics Series: Chapter 3 − Trading with unconventional figures − Free Access Day
Expert: Valeria Bednarik
Start: Thu, May 14, 10:00 GMT
Type of Session: Webinar
Topics
− Practical trade: how to detect this figures
− Reliable chart formations to trade
US Pre−Market Open − Free Access Day
Expert: Ed Ponsi
Start: Thu, May 14, 12:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, May 14, 10:00 GMT | Forex Basics Series: Chapter 3 − Trading with unconventional figures − Free Access Day | Valeria Bednarik | WBN |  |
| Thu, May 14, 11:00 GMT | FX Instructor Live Trading Room − Free Access Day | Mark De La Paz | WBN |  |
| Thu, May 14, 12:00 GMT | US Pre−Market Open − Free Access Day | Ed Ponsi | WBN | |
| Thu, May 14, 12:30 GMT | Back to basics − Free Access Day | Adam Rosen | WBN | |
Current Session: Europe
Sterling ran out of steam on the topside at 1.5330
Charmer Charts.com − Sterling ran out of steam on the topside at 1.5330 and has come back now below the short term uptrend line. However you do have support at lower levels and whilst above 1.5040 there is scope for this to continue trading higher.
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EUR/USD
Forex Technical Analysis − EUR/USD: (1.3568) Pair has met 2nd target 1.3301 at 1.3717 by KBC Bank
Has met 2nd target off 1.3301 at 1.3717, with good correction now testing 1.3557 (see graph).
Support area at 1.3535/ 3526 (daily envelope bottom/ today's low?), with next levels at 1.3510 (break−up hourly), ahead of 1.3470
USD/JPY
Market Session Recaps − Yen registered a six week high at 95.13 by FOREX.com
Against the Yen, the Dollar hit a 95.74 high after the Yen was registering a six week high at 95.13. EUR/JPY hit a two week low of 128.86 before blasting to new session highs of 129.96.
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
US PRODUCER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| May 14 | 12:30 | Producer Price Index (YoY) | -3.9% | -3.5% |
| May 14 | 12:30 | Producer Price Index ex Food & Energy (YoY) | 3.4% | 3.8% |
| May 14 | 12:30 | Producer Price Index ex Food & Energy (MoM) | 0.1% | 0.0% |
| May 14 | 12:30 | Producer Price Index (MoM) | 0.1% | -1.2% |
US economic indicators - We expect the PPI to have gone up by a mere 0.1% mom in April by BHF−Bank
Producer prices (PPI) unexpectedly fell by 1.2% mom in March, particularly due to a sharp drop in energy prices, and food prices also continued to decline. In April , however, gasoline prices increased by about 7% mom, but this is likely to be wiped out by the seasonal adjustment, and the decline in food prices could at least have slowed further.
[ Full Story ]Top Market Movers Review
Switzerland PRODUCER AND IMPORT PRICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 14 | 07:15 | Producer and Import Prices (YoY) | -3.6% | -2.6% | -2.8% |
| May 14 | 07:15 | Producer and Import Prices (MoM) | -0.2% | 1.0% | -0.5% |
Swiss Producer and Import Prices down a 0.2% in Apr, −3.6% YoY (FXstreet.com)
[ Full Story ]- Read the Producer and Import Prices data at Swiss Statistics
- Forex: USD/CHF: Dollar, below 1.1120 resistance; picks up from 1.0975 low (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 13 | 14:00 | US | Business Inventories (Mar) | -1.0% | -1.2% | -1.4% |
| 16:00 | US | Fed's Lockhart speech | ||||
| May 14 | 07:15 | CH | Producer and Import Prices (MoM) (Apr) | -0.2% | 1.0% | -0.5% |
| 07:15 | CH | Producer and Import Prices (YoY) (Apr) | -3.6% | -2.6% | -2.8% | |
| 08:00 | EMU | ECB Monthly Report | ||||
| 12:30 | US | Continuing Jobless Claims (May 2) | 6400K | 6351K | ||
| 12:30 | US | Initial Jobless Claims (May 9) | 610K | 601K | ||
| 12:30 | US | Producer Price Index (MoM) (Apr) | 0.1% | -1.2% | ||
| 12:30 | US | Producer Price Index (YoY) (Apr) | -3.9% | -3.5% | ||
| 12:30 | US | Producer Price Index ex Food & Energy (MoM) (Apr) | 0.1% | 0.0% | ||