Thursday, May 08, 11:34 GMT
U.S. Trading Newsletter
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How to Get Started Trading Forex
Expert: Steve Primo
Start: Thu, May 8, 15:00 GMT
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, May 8, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, May 8, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, May 8, 13:00 GMT | Advanced Fibonacci Applications | Adam Rosen | WBN |  |
| Thu, May 8, 14:00 GMT | Index Investing for Forex Traders | John Jagerson | WBN | |
| Thu, May 8, 15:00 GMT | How to Get Started Trading Forex | Steve Primo | WBN | |
Current Session: Europe − U.S.
GBP/USD
Daily Forex News − Dollar rose with better−than−expected data ahead of Bank of England and ECB rate decisions today by ACM − Advanced Currency Markets
GbpUsd Cable is trading below 1.9800 consolidation level and broke yesterday 1.9600 range support. Further pressure may open the way down to 1.9337 January low and 1.9105 (50% retracement of 1.7049 – 2.1162 advance). Renewed advance over 1.9800 may reopen the way toward 2.0000 psychological level. Actual trading range is 1.9500 – 1.9800.
- Raghee Horner's Four Step Trading: Forex by Raghee Horner, co−Founder and Lead Trader Raghee.com
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Other Topics for this Session:
Daily Trading Forecast − Signs of Short−Term USD Strength Seen by Swiss e Trade AG
Daily Technical Strategist − EURUSD: EUR Remains Vulnerable, Attacks On The 1.5360/41 Zone Remains In Force by FXTechstrategy
Majors at a Glance
- EUR/USD
- Trades around first support level 1.5325
05/08/2008 10:16 GMT - GBP/USD
- Trades around opening price level 1.9535 , below pivot level 1.9592
05/08/2008 10:16 GMT - USD/CHF
- Trades above pivot level 1.0550
05/08/2008 10:16 GMT - USD/JPY
- Moves down below second support level 104.03
05/08/2008 10:16 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
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| May 8 | 11:45 | ECB Interest Rate Decision | 4% | 4% |
Central Banks: ECB and BoE - Preview of May 8 meetings by FXstreet.com
The ECB is facing quite a similar scenario, with Inflation growing at a 3.3% yearly rate, the Bank can not raise interest rates easily with the Euro running at the highest levels ever, harming thereby European exports and weakening business as well as consumer confidences further in the Euro Area.
- Metals − Gold eases as dollar extends gains ahead of ECB rates meeting UPDATE (Thomson Financial News)
- Forex − Euro, pound steady ahead of key interest rate decisions (Thomson Financial News)
Daily Forex News - Dollar rose with better−than−expected data ahead of Bank of England and ECB rate decisions today by ACM − Advanced Currency Markets
Daily Forex Technical Report − Volatility Builds Up Ahead of ECB & BoE by ActionForex.com
Top Market Movers Review
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 8 | 11:00 | BoE Interest Rate Decision | 5% | 5% | 5% |
The Bank of England maintains rates unchanged at 5.00% (FXstreet.com)
The Bank of England has decided to leave its Bank Rate at 5.00% after their monthly Policy Meeting. The Bank has not given any further explanation and has pointed out to the publication of the Inflation Report due on Wednesday 14 May.
[ Full Story ]- Read the official statement at BoE
- Forex − Pound briefly strengthens after BoE keeps interest rates on hold (Thomson Financial News)
- BoE decision to hold rates unsurprising due to inflation concerns − CBI (Thomson Financial News)
- BoE missed opportunity to underpin economic confidence − BCC (Thomson Financial News)
Daily Forex News - Dollar rose with better−than−expected data ahead of Bank of England and ECB rate decisions today by ACM − Advanced Currency Markets
Central Banks: ECB and BoE - Preview of May 8 meetings by FXstreet.com
Daily Forex Commentary - Rate Announcements… by Jyske Bank
Germany INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 8 | 10:00 | Industrial Production s.a. w.d.a. (YoY) | 4.7% | 5.0% | 5.7% |
| May 8 | 10:00 | Industrial Production s.a. (MoM) | -0.5% | -0.5% | 0.2% |
DATA SNAP: German March Indus Production −0.5% On Month (Dow Jones)
German industrial production fell 0.5% on the month in March on a seasonally adjusted basis, matching economists' expectations, data from the Federal Economics Ministry showed Thursday.
[ Full Story ]- Read the Industrial Production data at BMWi
- German March industrial output down 0.5 pct vs Feb; consensus down 0.4 pct (Thomson Financial News)
- German industrial production declines 0.5% in March (FXstreet.com)
- Germany: Industrial Production s.a. drops 0.5% in Mar; 4.7% up on the year (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 8 | 05:45 | CH | Unemployment Rate (Apr) | 2.6% | 2.5% | 2.6% |
| 05:45 | CH | Unemployment Rate s.a. (Apr) | 2.6% | 2.5% | 2.5% | |
| 06:00 | DE | Trade Balance (Mar) | 16.7B | 17.0B | 16.9B | |
| 10:00 | DE | Industrial Production s.a. (MoM) (Mar) | -0.5% | -0.5% | 0.2% |
|
| 10:00 | DE | Industrial Production s.a. w.d.a. (YoY) (Mar) | 4.7% | 5.0% | 5.7% |
|
| 11:00 | UK | BoE Interest Rate Decision (Apr) | 5% | 5% | 5% | |
| 11:45 | EMU | ECB Interest Rate Decision | 4% | 4% | ||
| 12:30 | US | Continuing Jobless Claims (Apr 26) | 3019K | |||
| 12:30 | EMU | ECB Trichet's Speech | ||||
| 12:30 | CA | Housing Starts s.a (YoY) (Apr) | 225.0K | 254.7K | ||