Friday, May 16, 11:37 GMT
U.S. Trading Newsletter
To Get Started
- Webinar Videos: Advanced APF Methods To Determine The Price Momentum by Sunil Mangwani
- Be aware of USD/CAD movements
- FX Services: Day trading resources
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Live Sessions Schedule
Dan Blystone's Daily Briefing
Expert: Dan Blystone
Start: Fri, May 16, 12:30 GMT
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, May 16, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, May 16, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Fri, May 16, 12:30 GMT | Dan Blystone's Daily Briefing | Dan Blystone | WBN |  |
| Fri, May 16, 13:00 GMT | Constructing the ideal currency trade | Adam Rosen | WBN | |
| Fri, May 16, 14:00 GMT | Banging around the Bands | Chris Capre | WBN | |
Current Session: Europe − U.S.
GBP/USD
Daily Recommended Trades − The pair is in a corrective uptrend from the 95.75 short−term bottom by Deltastock
Downtrend from the 2.0397 local top is still intact and has reached a low at 1.9374. Technical indicators are falling on the 4 h. chart and the trading is situated below the 50− and 200−day SMA, currently projected at 1.9819 and 2.0044.
- Dan Blystone's Daily Briefing at 12:30 GMT/08:30 EDT
- Using CCI and Stochastics For Long and Short Term Forex Trading by Sam Seiden, Stocks and Commodities Instructor
- 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 − Dollar Stalled Within Tight Ranges by Swiss e Trade AG
Currency Performance
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
Majors at a Glance
- EUR/USD
- Trades around pivot level 1.5471
05/16/2008 10:04 GMT - GBP/USD
- Trades around opening price level 1.9474 , above pivot level 1.9457
05/16/2008 10:04 GMT - USD/CHF
- Trades around pivot level 1.0549
05/16/2008 10:04 GMT - USD/JPY
- Moves down below opening price level 104.73 , below pivot level 104.82
05/16/2008 10:04 GMT
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US HOUSING STARTS
| Date (GMT) | Event | Cons. | Previous | |
| May 16 | 12:30 | Building Permits (MoM) | 910K | 928K |
| May 16 | 12:30 | Housing Starts (YoY) | 935.000K | 0.947M |
US economic indicators - Housing starts and building permits are expected to have fallen further in April by BHF−Bank
Housing starts plummeted by 11.9% in March, and we expect another, albeit modest, decline from 0.947m to 0.94m in April, given the rising number of homes for sale due to foreclosures.
[ Full Story ]- Ahead of the Bell: Housing Starts (Thomson Financial News)
Top Market Movers Review
EMU TRADE BALANCE S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 16 | 09:00 | Trade Balance n.s.a. | -€2.3B | €0.9B | €0.8B |
| May 16 | 09:00 | Trade Balance s.a. | -€2.4B | - | €1.6B |
DATA SNAP: Euro−Zone Trade Balance Plunges Back To Deficit (Dow Jones)
The euro zone's foreign trade balance swung back into deficit in March, signaling that the euro's strength may be weighing on exports and boosting imports, data from the European Union's Eurostat statistics agency showed Friday.
[ Full Story ]- Read the report: Euro area external trade deficit 2.3 bn euro at Eurostat
- Euro Zone Trade Balance falls into deficit in March (FXstreet.com)
- Euro zone March trade deficit 2.3 bln euros vs 0.8 bln euro surplus in Feb (Thomson Financial News)
- EU Mar Trade Balance seas. adj. posts a 2.4B deficit after revised 1.6B surplus in Feb (FXstreet.com)
EMU economic indicators - German GDP is expected to have soared in Q1 by BHF−Bank
Switzerland ADJUSTED REAL RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 16 | 07:15 | Adjusted Real Retail Sales (YoY) | 9.7% | 3.0% | 3.3% |
Swiss retail sales grow considerably in March (FXstreet.com)
Retail sales have increased above expectations in March from the same month last year, in adjusted terms, with food drinks and tobacco posting the highest increment, according to the Swiss statistics office.
[ Full Story ]- Read the Retail Sales data at Swiss Statistics [text in German]
- Swiss March retail sales down 2.5 percent year−on−year (Thomson Financial News)
- Switzerland Mar Adjusted Real Retail Sales rise 9.7% on the year (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 16 | 05:00 | JP | Consumer Confidence Households (Apr) | 35.2 | 36.7 | |
| 06:00 | JP | Machine Tool Orders (YoY) (Apr) | 0.4 | 0.3 | ||
| 07:15 | CH | Adjusted Real Retail Sales (YoY) (Mar) | 9.7% | 3.0% | 3.3% | |
| 08:30 | EMU | ECB Trichet's Speech | ||||
| 09:00 | EMU | Trade Balance n.s.a. (Mar) | €-2.3B | €0.9B | €0.8B | |
| 09:00 | EMU | Trade Balance s.a. (Mar) | €-2.4B | €1.6B |
||
| 12:30 | US | Building Permits (MoM) (Apr) | 910K | 928K | ||
| 12:30 | US | Housing Starts (YoY) (Apr) | 935.000K | 0.947M | ||
| 12:30 | CA | New Motor Vehicle Sales (MoM) (Mar) | 0.1% | -3.2% | ||
| 14:00 | US | Reuters/Michigan Consumer Sentiment Index (May)  | 62.5 | 62.6 | ||