Thursday, May 22, 11:10 GMT
U.S. Trading Newsletter
To Get Started
- Webinar Videos: Longer-term Support and Resistance Trading: Setups and Rules by Rob Booker
- Oil Up - Dollar Down - Aussie Takes the Stairs by Jerry Furst
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Live Sessions Schedule
MONTHLY WEBINAR: Intro to the 4x−Market A−Z − Part 1
Expert: Adam Rosen
Start: Thu, May 22, 13:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, May 22, 13:00 GMT | MONTHLY WEBINAR: Intro to the 4x−Market A−Z − Part 1 | Adam Rosen | WBN |  |
| Thu, May 22, 15:00 GMT | MONTHLY WEBINAR: Intro to the 4x−Market A−Z − Part 2: Practical Application  | Adam Rosen | WBN | |
| Fri, May 23, 10:00 GMT | Advanced APF Methods To Determine The Price Momentum | Sunil Mangwani | WBN |  |
| Fri, May 23, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
Current Session: Europe − U.S.
EUR/USD
Daily Technical Strategist − EURUSD: Resumes Its Recovery Off The 1.5283 Level by FXTechstrategy
EURUSD: Having declined back below its minor resistance at the 1.5593 level, its May 06'08 high on Monday, EUR decisively broke through that level Tuesday and followed through on Wednesday to close above the 1.5710 level, its April 18'08 low. Maintaining above the latter remains suggestive of further upside incursions targeting the 1.5895/I 5912 area, its Mar 31'08 high/April 10'08 high initially and then its YTD high at 1.6018.The daily momentum indicators continue to support this view
- Trading Range Bound and Trending Market Conditions Adam Rosen, CEO and Co−Founder 4xLounge
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Banks' Analysis
Forex Trading Strategies − Is AUD strength misplaced? by Saxo Bank
Currency Performance
Action Bias Summary Table − Action Bias Summary Table by ActionForex.com
Majors at a Glance
- EUR/USD
- Trades around opening price level 1.5792 , above pivot level 1.5739
05/22/2008 10:00 GMT - GBP/USD
- Trades above pivot level 1.9691
05/22/2008 10:01 GMT - USD/CHF
- Trades below pivot level 1.0296
05/22/2008 10:01 GMT - USD/JPY
- Trades below pivot level 103.23
05/22/2008 10:01 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 CONTINUING JOBLESS CLAIMS
| Date (GMT) | Event | Cons. | Previous | |
| May 22 | 12:30 | Continuing Jobless Claims | - | 3060K |
| May 22 | 12:30 | Initial Jobless Claims | 370K | 371K |
HIGHLIGHTS Outlook of US economic indicators to be released in the coming week (Thomson Financial News)
As usual on Thursday, the Labor Department will release weekly jobless claims numbers. In the week ending May 17, the number of individuals filing first time claims for unemployment are expected to have decreased to 370,000 from 371,000 in the previous week.
[ Full Story ]- Ahead of the Bell: Unemployment Benefits (Thomson Financial News)
Top Market Movers Review
UK CBI INDUSTRIAL TRENDS SURVEY − ORDERS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 22 | 10:00 | CBI Industrial Trends Survey − Orders (MoM) | -10 | -12 | -13 |
UK manufacturing orders ebb in May but price intentions soar − CBI UPDATE (Thomson Financial News)
Manufacturers are continuing to seek higher prices for their goods, with price intentions at their highest level in more than a decade even as order books dwindle, a leading business lobby said.
[ Full Story ]- Read the Industrial Trends Survey data at CBI
- UK manufacturing orders ebb in May but price intentions soar − CBI (Thomson Financial News)
- UK CBI: Industrial new orders remain weak in May; prices rise sharply (FXstreet.com)
- United Kingdom CBI Industrial Trends Survey − Orders (MoM) improves to −10% in May from −13% in Apr (FXstreet.com)
EMU INDUSTRIAL NEW ORDERS S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 22 | 09:00 | Industrial New Orders s.a. (MoM) | -1.0% | -0.5% | 0.2% |
| May 22 | 09:00 | Industrial New Orders (YoY) | -2.5% | 4.8% | 9.9% |
DATA SNAP: Euro−Zone New Industrial Orders Slump In March (Dow Jones)
New industrial orders in the euro zone posted their biggest year−on−year decline for more than 4 1/2 years in March following a marked drop in orders for textile and textile products, figures released by European statistics agency Eurostat showed Thursday.
[ Full Story ]- Read the report: Industrial new orders down by 1.0% in euro area at Eurostat
- Euro Zone industrial orders plunge more than expected in March (FXstreet.com)
- EU Industrial New Orders s.a. decline 1% in Mar; 2.5% down on the year (FXstreet.com)
EMU economic indicators - German ZEW economic sentiment is likely to have remained unchanged in May by BHF−Bank
UK RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 22 | 08:30 | Retail Sales (MoM) | -0.2% | -0.5% | -0.2% |
| May 22 | 08:30 | Retail Sales (YoY) | 4.2% | 4.2% | 4.7% |
UK retail sales weaken further in April despite Grand Theft Auto boost (Thomson Financial News)
High street sales continued to ebb in April even though gaming stores saw a major jump from the launch of Wii Fit and Grand Theft Auto 4. The office for National Statistics said retail sales fell 0.2 percent in April from March for the second consecutive month.
[ Full Story ]- Read the Retail Sales data at National Statistics
- Forex − Pound gets another boost from UK data (Thomson Financial News)
- UPDATE: UK April Retail Sales Fall Less Than Expected (Dow Jones)
- UK retail sales weaken further in April despite Grand Theft Auto boost UPDATE (Thomson Financial News)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 22 | 08:30 | UK | Retail Sales (MoM) (Apr) | -0.2% | -0.5% | -0.2% |
| 08:30 | UK | Total Business Investment (YoY) (1Q)  | 3.7% | 5.5% | 5.3% | |
| 08:30 | UK | Total Business Investment (QoQ) (1Q) | -1.4% | 0.3% | 1.8% | |
| 09:00 | EMU | Industrial New Orders (YoY) (Mar) | -2.5% | 4.8% | 9.9% | |
| 09:00 | EMU | Industrial New Orders s.a. (MoM) (Mar) | -1.0% | -0.5% | 0.2% |
|
| 10:00 | UK | CBI Industrial Trends Survey − Orders (MoM) (May) | -10 | -12 | -13 | |
| 12:30 | US | Continuing Jobless Claims (May 10) | 3060K | |||
| 12:30 | US | Initial Jobless Claims (May 17) | 370K | 371K | ||
| 12:30 | CA | Retail Sales (MoM) (Apr) | 0.4% | -0.7% | ||
| 12:30 | CA | Retail Sales ex Autos (MoM) (Mar) | 0.4% | -0.3% | ||