Friday, May 18, 11:58 GMT
U.S. Trading Newsletter
To Get Started
- Looking for the Trader of the Year 2007: Take part in the 1st FXstreet.com Trading Contest
- Monthly Webinar: Join Raghee Horner through her Four Step Trading approach
- The Signals Tracker: track down the performance of a particular signal provider
- Check out all our Delivery Options
- Visit the rest of our newsletters and subscribe now!
Send us your feedback. Post your comments about the new newsletters' format in the Forum.
Live Sessions Schedule
Trading with Tim Billups
Expert: Tim Billups
Start: Fri, May 18, 16:00 GMT
Sponsored by: 
Type of Session: Webinar
24 hour Outlook
Expert: John Putman
Start: Fri, May 18, 17:00 GMT
Sponsored by:
Type of Session: Webinar
| Sponsored By: | ||||
| Fri, May 18, 16:00 GMT | Trading with Tim Billups  | Tim Billups | WBN | |
| Fri, May 18, 17:00 GMT | 24 hour Outlook | John Putman | WBN | |
| Mon, May 21, 10:00 GMT | What moves currencies? - Previewing the Week Ahead | Tony Juste | WBN | |
| Mon, May 21, 11:00 GMT | Weekly Webinar: 1st on Forex - The Week Ahead | Jerry Furst | WBN |  |
| Mon, May 21, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN |  |
Current Session: Europe - U.S.
GBP/USD
Daily Forex Currency Outlook - GBPUSD by ZeeTrade
GBPUSD seemed to have settled into a nice downward trend but we might see rise in GBPUSD today, partially due to profit taking. Currently a resistance level can be seen around 1.9800 level where the Short term and Medium term Moving averages are also crossing each other and in case GBPUSD is able to break above 1.9800 level, then 1.9878 will come into focus.
- Looking for the Trader of the Year 2007: Take part in the 1st FXstreet.com Trading Contest
- GBP/USD watch (II) by Tony Juste
- The Signals Tracker: track down the performance of a particular signals provider
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
- Be up to date with the Latest Forex News
Other Topics for this Session:
Forex Trading Strategies - US Claims sends dollar bid by Saxo Bank
Daily Forex Technical Report - Will Retail Sales in UK & Canada Stir up a Quiet Market? by ActionForex.com
GBP/USD watch - Retail Sales Market Reaction by FXstreet.com
Majors at a Glance
- EUR/USD
- Moves up above 1.3480 after bounced at first support level 1.3465
05/18/2007 11:22 GMT - GBP/USD
- Moves up above 1.9700 after bounced at second support level 1.9696
05/18/2007 11:23 GMT - USD/CHF
- Back around opening price level at 1.2269 , above pivot level at 1.2248
05/18/2007 11:24 GMT - USD/JPY
- Trades around first support level at 120.85 after bounced at yesterday low 120.67
05/18/2007 11:24 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : CMS Forex, Danske Bank A/S, Finotec Group Inc., FXstreet.com, Global Forex Trading Ltd. , Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR JPY, Hourly
USD JPY, Hourly
Top Market Movers Preview
Canada RETAIL SALES
| Date (GMT) | Event | Cons. | Previous | |
| May 18 | 12:30 | Retail Sales (MoM) | 0.7% | 0.1% |
| May 18 | 12:30 | Retail Sales ex Autos (MoM) | 1% | 1% |
Daily Forex Technical Report - Will Retail Sales in UK & Canada Stir up a Quiet Market? by ActionForex.com
With a solid retail sales report today, further downside in USD/CAD should be seen and bring retest of 30 year low at 1.0930. Retail sales in Canada is expected to rise 0.8% mom in Mar.
[ Full Story ]Top Market Movers Review
China PBOC INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 18 | 10:30 | PBoC Interest Rate Decision | 6.57% | - | 6.39% |
China central bank widens yuan trading band to 0.5 pct from 0.3 pct - UPDATE (AFX News)
China's central bank said it will widen the daily trading band of the yuan currency to 0.5 pct from 0.3 pct, effective May 21. It said in a statement on its website that the wider trading band allowed around its central parity rate does not mean there will be a sharp appreciation of the currency, adding that it will maintain yuan stability.
[ Full Story ]- Read the Public Announcement of the People's Bank of China
- Forex - Japanese yen rises as China hikes interest rates (AFX News)
- China PBOC Raises Banks' Reserve Requirement Ratio 50 BPs (Dow Jones)
- China To Widen USD/CNY Daily Trading Band To Up/Down 0.5% (Dow Jones)
UK RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 18 | 08:30 | Retail Sales (MoM) | -0.1% | 0.6% | 0.5% |
| May 18 | 08:30 | Retail Sales (YoY) | 4.2% | 4.7% | 5.0% |
European Market Update - UK Retail Sales Decline by More Than Expected in April by Trade The News
Retail sales declined my more than expected for the month of April in the UK to –0.1% m/m, and 4.2% y/y, however there were upward revisions to March’s figures.
[ Full Story ]- Read the Robust retail sales growth continues at National Statistics
- Forex - Pound drops sharply as UK retail sales unexpectedly fall (AFX News)
- UK April Retail Sales Table Of Data (Dow Jones)
- DATA SNAP: UK Apr Retail Sales -0.1% On Mo; +4.2% On Yr -2- (Dow Jones)
EMU G8 MEETING OF FINANCE MINISTERS COMMENCES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 18 | 05:00 | G8 Meeting of Finance Ministers Commences | - | - | - |
G8 MEETING Germany hails Wolfowitz's 'right decision' (AFX News)
German finance minister Peer Steinbrueck said the World Bank's president Paul Wolfowitz had taken the right decision in resigning over the pay and promotion package he arranged for his girlfriend and former fellow bank employee, Shaha Riza. Steinbrueck said the scandal surrounding Wolfowitz had dragged on for too long and had damaged the reputation of the poverty-fighting institution.
[ Full Story ]Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 18 | 06:00 | DE | Producer Price Index (YoY) | 1.6% | 2.5% | |
| 08:30 | UK | Retail Sales (MoM) (Apr) | -0.1% | 0.6% | 0.5% |
|
| 08:30 | UK | Retail Sales (YoY) (Apr) | 4.2% | 4.7% | 5.0% |
|
| 10:30 | CN | PBoC Interest Rate Decision | 6.57% | 6.39% | ||
| 12:30 | CA | Retail Sales (MoM) (Mar) | 0.7% | 0.1% | ||
| 12:30 | CA | Retail Sales ex Autos (MoM) (Mar) | 1% | 1% | ||
| 14:00 | US | Reuters/Michigan Consumer Sentiment Index (May)  | 86.8 | 87.1 | ||
| May 23 | 14:30 | US | EIA Crude Oil Stocks (May 18) | 1.1M | ||
| May 24 | 12:30 | US | Durable Goods Orders (Apr) | 3.4% | ||
| 12:30 | US | Initial Jobless Claims (May 19) | 293K | |||