Tuesday, May 06, 11:15 GMT

U.S. Trading Newsletter

To Get Started

Webinar Videos: Momentum and SMA 20: Alexander Elder Technique explained by Valeria Bednarik
Tradable Rates: Bid and Ask real−time prices
New Features in our Real−Time Economic Calendar

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Live Sessions Schedule

The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, May 6, 14:00 GMT

Type of Session: Webinar

Trading with Autochartist
Expert: Raghee Horner
Start: Tue, May 6, 15:00 GMT

Type of Session: Webinar

Sponsored by
Tue, May 6, 11:00 GMT	FX Instructor Live Trading Room	Mark De La Paz	WBN
Tue, May 6, 14:00 GMT	The Weather Report: Ichimoku Cloud Trading	Chris Capre	WBN
Tue, May 6, 15:00 GMT	Trading with Autochartist	Raghee Horner	WBN
Tue, May 6, 16:00 GMT	Day Trading Series − Chapter VI: Tips and Tricks for Successful Day Trading	Markus Heitkoetter	WBN

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Current Session: Europe − U.S.

EUR/USD

Daily Forex News − Dollar fell as oil prices hit record high and worries for more corporate fallout from credit crunch by ACM − Advanced Currency Markets

Euro has been weaker for the last two weeks and recently broke 1.5528 former support. Medium term trading range is still set between 1.5400 – 1.5800. Psychological 1.5000 key level marks strong support before 1.4500 pivot point. Pivot point hold 1.6000 resistance ahead of key resistance 1.6200 market target. Initial resistance hold 1.5528 former support.

[ Full Story ]

Stocks for currency traders by John Jagerson, Founder at Profiting With Forex
Check out how pairs moved: Live Currency Rates & Charts
Follow up the most relevant Economic Data in the new Real Time Economic Calendar

Currency Performance

Action Bias Summary Table − Action Bias Summary Table by ActionForex.com

FX Analysts' Comments

Technically Speaking − Dollar − Gold by Jerry Furst, Director Investors Education Network

Majors at a Glance

EUR/USD: Trades above opening price level 1.5495 , above pivot level 1.5477
05/06/2008 10:18 GMT
GBP/USD: Moves down below pivot level 1.9719
05/06/2008 10:18 GMT
USD/CHF: Trades below opening price level 1.0533 , below pivot level 1.0546
05/06/2008 10:18 GMT
USD/JPY: Trades around opening price level 104.86 , below pivot level 105.08
05/06/2008 10:18 GMT

Analyst Sentiment Index (ASI)

Analysts Sentiment Index - EUR/USD

**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank

[ View ASI page ] [ View EUR/USD page ]

Charting the Market Movers

EUR USD, Hourly

GBP USD, Hourly

Top Market Movers Preview

Canada BUILDING PERMITS

Date (GMT)		Event	Cons.	Previous
May 6	12:30	Building Permits (MoM)	1.2%	-1.0%

Daily Forex Technical Report − Focus in CAD and European Crosses, RBA on Hold by ActionForex.com

Building permits is expected to rebound by rising 1.4% in Mar. Though, USD/CAD is still bounded in wide range consolidation and today's data is not likely to trigger any break out yet.

[ Full Story ]

Top Market Movers Review

EMU PRODUCER PRICE INDEX

Date (GMT)		Event	Actual	Cons.	Previous
May 6	09:00	Producer Price Index (YoY)	5.7%	5.6%	5.3%
May 6	09:00	Producer Price Index (MoM)	0.7%	0.7%	0.7%

DATA SNAP: Euro−Zone Mar PPI Highest Annual Rise Since 2006 (Dow Jones)

Euro−zone producer prices continued to rise strongly in March, with the annual increase registering its highest level since August 2006, data from the European Union's statistics agency Eurostat showed Tuesday.

[ Full Story ]

Read the report: Industrial producer prices up by 0.7% in euro area at Eurostat
Euro Zone PPI accelerates in March on energy prices (FXstreet.com)
Euro zone March PPI up 0.7 pct vs Feb, up 5.7 pct year on year (Thomson Financial News)
EU Producer Price Index rises 0.7% in Mar; 5.7% up year on year (FXstreet.com)

The Trading Week - The Trading Week: May 4 − May 9 by AllThingsForex

UK PURCHASING MANAGER INDEX SERVICES

Date (GMT)		Event	Actual	Cons.	Previous
May 6	08:30	Purchasing Manager Index Services	50.4	51.7	52.1

UK April Services PMI 50.4 Vs 52.1 In March − Sources (Dow Jones)

The U.K.'s dominant services sector slowed sharply in April, increasing the likelihood that the Bank of England will cut its key interest rate again later this week.

[ Full Story ]

CIPS homepage
EURONOMICS: UK Apr Services Weak, Germany Buoys Eurozone (Dow Jones)
UPDATE: UK Services Sector Slows Sharply In April (Dow Jones)
Gilts boosted by sharp fall in UK services April PMI (Thomson Financial News)

Friday Notes - UK services PMI to stabilize by HVB Group

EMU PURCHASING MANAGER INDEX SERVICES

Date (GMT)		Event	Actual	Cons.	Previous
May 6	08:00	Purchasing Manager Index Services	54.9	54.6	51.8
May 6	08:00	Purchasing Manager Index Services	52.0	51.8	51.6

Euro zone April services PMI 52.0 vs initial estimate of 51.8 − sources (Thomson Financial News)

The euro zone's services sector grew by more than initially thought in April, sources said of a closely−watched survey.

[ Full Story ]

NTC Economics homepage
Euro zone April services PMI 52.0 vs initial estimate of 51.8 − sources UPDATE (Thomson Financial News)
Euro Zone services PMI increased above expectations in April (FXstreet.com)
EU Purchasing Manager Index Services up to 52 in Apr vs 51.6 in Mar (FXstreet.com)

Economic Events

Date (GMT)		Country	Event	Actual	Cons.	Previous
May 6	07:30	EMU	ECB Trichet's Speech
	08:00	DE	Purchasing Manager Index Services (Apr)	54.9	54.6	51.8
	08:00	EMU	Purchasing Manager Index Services (Apr)	52.0	51.8	51.6
	08:30	UK	Purchasing Manager Index Services (Apr)	50.4	51.7	52.1
	09:00	EMU	Producer Price Index (MoM) (Mar)	0.7%	0.7%	0.7%
	09:00	EMU	Producer Price Index (YoY) (Mar)	5.7%	5.6%	5.3%
	12:30	CA	Building Permits (MoM) (Mar)		1.2%	-1.0%
	14:00	CA	Ivey Purchasing Managers Index (Apr)		55	59
	21:00	US	ABC Consumer Confidence (May 4)			-41
	23:01	UK	Nationwide Consumer Confidence (Apr)		74	77

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