Monday, May 04, 11:28 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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- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Do EUR/USD and USD/CHF Look To Non−Correlate in the Immediate−Term? by Tim Salem
We begin the Week with the "continued" Onslaught of various Global Data Points moving forward today… as we also prepare for the Financial Institution Stress Tests Results as well. Of Note will be the PMI out of Germany and Switzerland, as well as the early Australia Housing Data beginning at 1:30 GMT… and then the U.S. Construction Spending and Pending Home Sales.
FX Path: Forex Levels to Watch (Week of May 4-8, 2009) by James Chen
FxBootcamp: Currency Correlations by Wayne McDonell
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Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, May 4, 14:00 GMT
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Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, May 4, 16:00 GMT
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Type of Session: Webinar
| Sponsored by | ||||
| Mon, May 4, 12:00 GMT | Trading the JPY crosses  | Adam Rosen | WBN |  |
| Mon, May 4, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, May 4, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN | |
| Mon, May 4, 16:00 GMT | Weekly Webinar: 1st on Forex − The Week Ahead | Jerry Furst | WBN | |
Current Session: Europe − U.S.
GBP/USD: Cable interrupted its now six−day−old uptrend
Swiss e Trade AG − Cable interrupted its now six−day−old uptrend against the dollar in early European trading, correcting downwards to 1.4870 right now. We project further down movements to come in today's hours, to a support level of 1.4780 from where a bid tone can emerge again, but not above 1.4920
EUR/USD
EurUsd: Positive risk sentiment continues to drive the pair higher by ACM − Advanced Currency Markets
Positive risk sentiment continues to drive the pair higher. However failure to close above channel resistance at 1.3340/60 points to a correct toward 1.3020 trend support.
USD/JPY
Daily Analysis − Yen Falls as Fear Eases by Finotec Group Inc.
The Yen traded around the levels of 99.45 against the dollar and 132.05 vs. the Euro at 09:00 (GMT). The sign of revived appetite for risk was noticed as carry trade on the AUD/JPY carried the pair to six month high.
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 CONSTRUCTION SPENDING
| Date (GMT) | Event | Cons. | Previous | |
| May 4 | 14:00 | Construction Spending (MoM) | -1.4% | -0.9% |
Friday Notes - Construction spending by UniCredit Group
Housing is falling sharply, but state and local government infrastructure projects are still positive, though slowing. The main uncertainty is non−residential construction, which we assume was down only slightly in March.
[ Full Story ]Top Market Movers Review
EMU PURCHASING MANAGER INDEX MANUFACTURING
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 4 | 08:00 | Purchasing Manager Index Manufacturing | 36.8 | 36.7 | 36.7 |
DATA SNAP: Euro−Zone Manufacturing Contraction Slows In Apr (Dow Jones)
The euro zone's manufacturing sector continued to contract in April, but at the slowest pace since October last year.
[ Full Story ]- Read the official data at Markit Economics
- UPDATE: Euro−Zone Manufacturing Contraction Slows In April (Dow Jones)
- EU May Purchasing Manager Index Manufacturing edges up to 36.8 in Apr (FXstreet.com)
Germany RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 4 | 06:00 | Retail Sales (MoM) | -1.0% | 0.2% | -0.2% |
| May 4 | 06:00 | Retail Sales (YoY) | -1.5% | -0.4% | -5.3% |
UPDATE: German March Retail Sales Down 1% From February (Dow Jones)
German retail sales fell more than expected in March in light of a sharp economic downturn and rising unemployment, data from the Federal Statistics office showed Monday.
[ Full Story ]- 2nd UPDATE: German March Retail Sales Down 1% From February (Dow Jones)
- DATA SNAP: German March Retail Sales Down 1% From February (Dow Jones)
- Germany Retail Sales decrease 1% in Mar; 1.5% down on year (FXstreet.com)
Friday Notes - Germany Retail Sales: Scrapping premium supports consumption by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 4 | 06:00 | DE | Retail Sales (MoM) (Mar) | -1.0% | 0.2% | -0.2% |
| 06:00 | DE | Retail Sales (YoY) (Mar) | -1.5% | -0.4% | -5.3% | |
| 07:30 | CH | SVME − Purchasing Managers' Index (Apr) | 34.7 | 34.1 | 32.6 | |
| 07:55 | DE | Purchasing Manager Index Manufacturing (Apr) | 35.4 | 35.0 | 35.0 | |
| 08:00 | EMU | Purchasing Manager Index Manufacturing (May) | 36.8 | 36.7 | 36.7 | |
| 08:30 | EMU | Sentix Investor Confidence (Mar) | -34.3 | -27.8 | -35.3 | |
| 14:00 | US | Construction Spending (MoM) (Mar) | -1.4% | -0.9% | ||
| 14:00 | US | Pending Home Sales (MoM) (Mar) | 0.1% | 2.1% | ||
| May 5 | 01:30 | AU | Building Permits (MoM) (Mar) | 2.8% | 7.8% | |
| 01:30 | AU | Building Permits (YoY) (Mar) | -18.9% | -25.5% | ||