Monday, May 12, 11:25 GMT
U.S. Trading Newsletter
To Get Started
- Webinar Videos: Day Trading Series - Chapter VI: Tips and Tricks for Successful Day Trading by Markus Heitkoetter
- Dan Blystone's daily review − Webinar at 12:30 GMT
- FOREX Video − News Trade Alert by Wayne McDonell
- Enjoy the New Streaming FX Charts by NetDania/FXCM
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Live Sessions Schedule
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, May 12, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, May 12, 16:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, May 12, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN |  |
| Mon, May 12, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, May 12, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets  | Steve Primo | WBN | |
| Mon, May 12, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN | |
Current Session: Europe − U.S.
EUR/USD
Currency Technical Report Currency Technical Analysis by FXGreece
Last week euro fell to new lows in the area of 1.5285 and the last two days of the week, it retraced to 1.5500 area.
Trend remains bearish, even if we have some first indications of a reverse. Euro's last top before the downward move that lead euro to 1.5285, should be breached and it is at 1.5590−5600 area.
Resistance at 1.5490−00 that was reached on Friday was between our first targets, but support in the area of 1.5340−60 in any retracement attempt, would give the confirmation.
- 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
- New Open Webinar: Dan Blystone's Daily Briefing
Other Topics for this Session:
Daily Technical Outlook by Global Market Research, Inc. (GMR)
Currency Performance
Currency Performance Report − Asia Session Performance by FXstreet.com
Majors at a Glance
- EUR/USD
- Moves down towards second support level 1.5357
05/12/2008 10:14 GMT - GBP/USD
- Moves down below first support level 1.9463
05/12/2008 10:14 GMT - USD/CHF
- Moves up above first resistant level 1.0487
05/12/2008 10:14 GMT - USD/JPY
- Moves up above pivot level 103.18
05/12/2008 10:14 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
US MONTHLY BUDGET STATEMENT
| Date (GMT) | Event | Cons. | Previous | |
| May 12 | 18:00 | Monthly Budget Statement | - | -48.1B |
HIGHLIGHTS Outlook of US economic indicators to be released in the coming week (Thomson Financial News)
The week will begin with the release of the US budget, which for April is expected to be in surplus of 160.0 bln usd, down from 177.7 bln usd in March. "Despite a weakening economy we expect the impact of earlier filing by taxpayers expecting a refund and a still healthy economy in 2007 should be enough to allow the Treasury to post a budget surplus of at least 150 bln usd in April," said economists from Lehman Brothers.
[ Full Story ]Top Market Movers Review
UK TOTAL TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 12 | 08:30 | Total Trade Balance | -4.0B | -4.4 | -4.3B |
| May 12 | 08:30 | Goods Trade Balance | -£7.4B | -£7.5 | -£7.6B |
DATA SNAP: UK March Goods Trade Deficit Narrows To GBP7.4B (Dow Jones)
The U.K.'s global goods deficit narrowed to a seven−month low of GBP7.4 billion in March from a revised GBP7.6 billion in February, the Office for National Statistics said Monday.
[ Full Story ]- Read the Trade Balance data at National Statistics
- UPDATE: UK Mar Global Goods Trade Deficit Smallest In 7 Mos (Dow Jones)
- Forex − Pound jumps after record−high producer prices (Thomson Financial News)
- UK trade deficit narrows in March (FXstreet.com)
Hedging Range Trades - Pound Price Action Inching Lower, Hedge Offers Entry by FXCM
UK PRODUCER PRICE INDEX − INPUT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 12 | 08:30 | Producer Price Index − Input (YoY) n.s.a | 23.3% | 21.4% | 20.1% |
| May 12 | 08:30 | Producer Price Index − Output (MoM) n.s.a | 1.4% | 0.6% | 1.1% |
| May 12 | 08:30 | Producer Price Index − Output (YoY) n.s.a | 7.5% | 6.4% | 6.5% |
| May 12 | 08:30 | Producer Price Index − Input (MoM) s.a | 2.4% | 1.8% | 1.7% |
UK April producer prices soar to record highs (Thomson Financial News)
UK producer prices jumped in April to hit a series of record highs, underlining the threat of inflationary pressures in the pipeline, official figures showed today.
[ Full Story ]- Read the Producer Prices data at National Statistics
- 2nd UPDATE: UK Apr Output PPI Gain Highest On Record;+7.5%YY (Dow Jones)
- Forex − Pound jumps after record−high producer prices (Thomson Financial News)
- UK Apr PPI − Output rises to 1.4%; 7.5% YoY (FXstreet.com)
Daily Forex Technical Report − Sterling Mixed ahead of PPI by ActionForex.com
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 12 | 00:00 | DE | Whit Monday Market Holiday | |||
| 08:30 | UK | Goods Trade Balance (Mar) | £-7.4B | -£7.5 | -£7.6B |
|
| 08:30 | UK | Producer Price Index − Input (YoY) n.s.a (Apr) | 23.3% | 21.4% | 20.1% |
|
| 08:30 | UK | Producer Price Index − Output (MoM) n.s.a (Apr) | 1.4% | 0.6% | 1.1% |
|
| 08:30 | UK | Producer Price Index − Output (YoY) n.s.a (Apr) | 7.5% | 6.4% | 6.5% |
|
| 08:30 | UK | Total Trade Balance (Mar) | -4.0B | -4.4 | -4.3B |
|
| 12:30 | CA | New Housing Price Index (YoY) (Mar) | 6.2% | |||
| 18:00 | US | Monthly Budget Statement (Apr) | -48.1B | |||
| 22:45 | NZ | Food Price Index (MoM) (Apr) | 0.7% | |||
| 23:01 | UK | BRC Retail Sales Monitor − All (YoY) (Apr) | -1.6% | |||