Monday, May 25, 07:41 GMT
EUROPEAN Trading Newsletter
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Forex Blogs
Forexhedge: EUR/USD Trend by Ron Schelling
The EUR/USD is holding it's uptrend since Monday May 5th. at 1.3435 (green bars). The strong uptrend forced the percentage to hedge quickly to +100%
FX Market Readings: EURO and GBP are expected to swing and slide for a day by Dr.S. Sivaraman
Forexology: London Workshop 21st- 22nd June 2009. Patience & Discipline by Sunil Mangwani
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Live Sessions Schedule
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, May 25, 14:00 GMT
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Type of Session: Webinar
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, May 25, 16:00 GMT
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Type of Session: Webinar
| Sponsored by | ||||
| Mon, May 25, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, May 25, 12:30 GMT | What is the best currency pair to trade? | Adam Rosen | WBN | |
| Mon, May 25, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, May 25, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
Current Session: Europe
US Dollar, Japanese Yen Fall Amidst Low−Volume Trading − The Japanese yen and the US dollar were the weakest of the major currencies on Friday, though they fell especially hard against the Canadian dollar and New Zealand dollar. For the Japanese yen crosses, there were some notable moves as GBP/JPY finally broke above 150 (though the 200 SMA looms nearby at 152.02) and USD/JPY recovered from key support at 94.00/30.
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EUR/USD
Sunrise Market Commentary − Dollar weakness by KBC Bank
The US dollar is the main victim of the last few days. The greenback was already on the defensive early last week and traded slightly below key support levels, but the real break occurred in the second halve of the week.
USD/JPY
Morning Report − USD/JPY recap by Westpac Institutional Bank
The Bank of Japan kept rates unchanged at 0.10%. The statement confirmed that they will be accepting foreign sovereign bonds as collateral for their market operations.
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 IFO − BUSINESS CLIMATE
| Date (GMT) | Event | Cons. | Previous | |
| May 25 | 08:00 | IFO − Business Climate | 84.8 | 83.7 |
| May 25 | 08:00 | IFO − Expectations | 85.4 | 83.9 |
EMU economic indicators - German ifo business climate (May): unchanged by BHF−Bank
The ifo business climate for Germany might have only stabilised in May, after its unexpected surge in April. However, the German ZEW economic sentiment and the US ISM manufacturing index have improved recently. German yield spreads have widened somewhat, as short−term interest rates have continued declining and long−term rates have gone up.
[ Full Story ]Top Market Movers Review
Canada RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 22 | 12:30 | Retail Sales ex Autos (MoM) | -0.2% | -0.1% | 0.6% |
| May 22 | 12:30 | Retail Sales (MoM) | 0.3% | 0.5% | 0.2% |
Canada retail sales, up 0.3% in Mar, USD/CAD dips further (FXstreet.com)
Retail sales have increased for third consecutive month in Canada, 0.3% up in March, although, excluding cars, sales of all other products have edged down 0.2%, according to data released by Statistics Canada.
[ Full Story ]- Retail trade, March 2009 at Statistics Canada
- Canada Retail Sales increase 0.3% in Mar; ex autos, 0.2% down (FXstreet.com)
Currency Trading Majors Pairs - USD vs CAD − Daily Chart by Master The Markets
Currency Trading News - Canadian Dollar Tests Elliott Guideline Resistance (USDCAD Support) by DailyFX
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 25 | 00:00 | US | Markets Closed for Bank Holiday | |||
| 00:00 | UK | Spring Bank Holiday | ||||
| 02:00 | JP | BoJ's Governor Shirakawa Speech | ||||
| 07:41 | JP | Bank of Japan Monthly Economic Survey (May 19) | ||||
| 08:00 | DE | IFO − Business Climate (May) | 84.8 | 83.7 | ||
| 08:00 | DE | IFO − Expectations (May) | 85.4 | 83.9 | ||
| 22:45 | NZ | Trade Balance (Apr) | 251M | 324M | ||
| 23:50 | JP | Corporate Service Price (YoY) (Apr) | -2.3% | -2.1% | ||
| May 26 | 03:00 | NZ | RBNZ Inflation Expectations q/q (2Q) | 2.3 | ||
| 06:00 | DE | Gross Domestic Product n.s.a (YoY) (1Q) | -6.7% | -1.7% | ||
Educational Resources
A channel is a figure of high reliability, formed by two parallel trend lines at its borders. There are different kinds of channels, but they mostly work the same way. Check Valeria Bednarik's Technical Basic Lesson !
Advanced Indicator Manual - Price Channels by Doug Schaff
Q&A Transcripts - Trading with Bands and Channels by Robert Firestone
Q&A Transcripts - Trading with Channels by Valeria Bednarik