Friday, May 01, 11:21 GMT
U.S. Trading Newsletter
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- Learning Center: New Contents has been released! Chapter 3 of Unit A - Understand the Mechanics. Read it now!
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Forex Blogs
Forex Trading Today: Yen and Dollar Weakness Continue with Shallow Corrective Behavior by Tim Salem
Greetings once again, Everyone! Our three Units of Cable, Dollar Yen, and Aussie Yen simply "Hold Their Ground", as any Retracements and Corrective Behavior we have seen since our last Post 8 hours ago have been "Shallow" to literally "Non−Existent" at this point.
Trading for a Living: Majors at a glance 1/05/2009 by David Aranzabal
Forexology: Trading within the waves of a Harmonic pattern by Sunil Mangwani
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Live Sessions Schedule
FX Market Pulse
Expert: Raghee Horner
Start: Fri, May 1, 13:00 GMT
Type of Session: Webinar
US Session Open
Expert: Ed Ponsi
Start: Fri, May 1, 13:30 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, May 1, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Fri, May 1, 13:00 GMT | FX Market Pulse | Raghee Horner | WBN | |
| Fri, May 1, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, May 4, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN |  |
Current Session: Europe − U.S.
EUR/USD: Euro breaks above 1.3300 and trades at intra−day high
FXstreet.com − The Euro is picking up strength and after bouncing at 1.3220 has broken above the upper side of the flat trading range, at 1.3300 reaching levels around 1.3320 at the moment of writing; 0.75% above its opening price.
On the upside, the Euro could find resistance at at 1.3300 and above there, 13325/30 and 1.3385 (Apr 30 high). On the downside, next support lies at 1.3210/20 and below there 1.3190 (Apr 30 low) and 1.3160/65.
GBP/USD
GBP/USD: Pound, above 1.4900 by FXstreet.com
The Pound has posted a 150 pip rally so far to reach an intra−day high at 1.4917, approaching yesterday's high at 1.4950.
USD/JPY
USD/JPY: Dollar rally, capped at 99.60 by FXstreet.com
Dollar rally from 98.50 intra−day low has reached a fresh two−week high at 99.60 to pull back to levels around 99.40 at the time of writing.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US ISM MANUFACTURING
| Date (GMT) | Event | Cons. | Previous | |
| May 1 | 14:00 | ISM Manufacturing | 38.0 | 36.3 |
US economic indicators - ISM manufacturing index (Apr): contracting more slowly again by BHF−Bank
Since January, the ISM manufacturing index has improved for three consecutive months, albeit remaining well within the contraction zone. Given that the Philadelphia Fed index and the New York Empire manufacturing index in particular have both risen to much less negative levels, we forecast that the ISM manufacturing index will have increased again to 38.0 in April – still far below the expansion threshold of 50.
[ Full Story ]Monitor - US: ISM preview for April by Danske Bank A/S
Top Market Movers Review
UK NET LENDING TO INDIVIDUALS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 1 | 08:30 | Consumer Credit | £0.1 | £0.1B | £0.1B |
| May 1 | 08:30 | Net Lending to Individuals | £0.8B | £1.6B | £1.4B |
2ND UPDATE:UK Consumer Lending Growth At Record Low In March (Dow Jones)
Total consumer lending growth sank to an all time low in March as the rise in mortgage lending almost halved from February, data from the Bank of England showed Friday.
[ Full Story ]- Read the Lending data at the BoE
- UPDATE: UK Consumer Lending Growth At Record Low In March (Dow Jones)
UK PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 1 | 08:30 | Purchasing Manager Index Manufacturing | 42.9 | 40.3 | 39.5 |
DATA SNAP: UK April Manufacturing PMI Stronger Than Expected (Dow Jones)
The U.K. manufacturing sector shrank for the thirteenth consecutive month in April, but the pace of the contraction moderated more than expected in a sign that the downturn in the sector may be bottoming out, data showed Friday.
[ Full Story ]- UPDATE: UK Apr Mfg PMI Up More Than Expected But Still Weak (Dow Jones)
- GBP/USD at intra−day high, approaches 1,4875 after UK data (FXstreet.com)
- UK Manufacturing PMI rises to 42.9 in Apr (FXstreet.com)
Friday Notes - Manufacturing activity has likely bottomed out by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 1 | 08:30 | UK | Consumer Credit (Mar) | £0.1 | £0.1B | £0.1B |
| 08:30 | UK | M4 Money Supply (MoM) (Mar) | 0.2% | 1.5% | ||
| 08:30 | UK | M4 Money Supply (YoY) (Mar) | 17.8% | 18.6% | ||
| 08:30 | UK | Mortgage Approvals (Mar) | 39K | 40K | 38K | |
| 08:30 | UK | Net Lending to Individuals (Mar) | £0.8B | £1.6B | £1.4B |
|
| 08:30 | UK | Purchasing Manager Index Manufacturing (Apr) | 42.9 | 40.3 | 39.5 |
|
| 14:00 | US | Factory Orders (Mar) | -0.7% | 1.8% | ||
| 14:00 | US | ISM Manufacturing (Apr) | 38.0 | 36.3 | ||
| 14:00 | US | Reuters/Michigan Consumer Sentiment Index (Apr) | 61.5 | 57.3 | ||
| May 3 | 22:45 | NZ | Labor Cost Index (QoQ) (1Q) | 0.6% | 0.7% | |