Wednesday, May 06, 11:22 GMT
U.S. Trading Newsletter
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- Learning Center: New Contents have been released! Chapter 3 of Unit A - Understand the Mechanics. Read it now!
- Webinar Videos: Trading with the ATR & Bollinger Bands by Adam Rosen
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: Accumulation and Consolidation Begin Across the Four Siblings by Tim Salem
Greetings Again, Everyone at the "Bewitching Hour" of Midnight! The "Four Siblings", our Fiber, Cable, Yen, and Swissy Friends have been taking a little "Rest" the last few hours as Accumulation moves into Perspective with some IntraDay Ranges and clear Channels within Static Activity.
FxBootcamp: FOREX VIDEO REVIEW: London Session April 29, 2009 by Christian Stephens
CEO's weblog: EUR/USD: The Euro will decline to 1.20 at the end of 2009, says National Bank Financial by Francesc Riverola
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Live Sessions Schedule
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, May 6, 14:00 GMT
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Wed, May 6, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Wed, May 6, 13:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN |  |
| Wed, May 6, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
| Wed, May 6, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Thu, May 7, 09:00 GMT | Tracking the forex market together / Part I  | Dr.S.Sivaraman | WBN | |
Current Session: Europe − U.S.
EUR/USD: Again the pair is on recovery path this European morning
Swiss e Trade AG − Again the pair is on recovery path this European morning, having met lows around 1.3250 in late Asian trading, and is currently priced at 1.3325. We expect this up movement to continue in today's trading, meeting resistance eventually at levels around 1.3420.
GBP/USD
GBP/USD: Cable can push higher towards 1.5373 by ACM − Advanced Currency Markets
GbpUsd Sustained trading above 1.4920 implies that cable can push higher towards 1.5373 jan 8th high. However, choppy trading, momuntum & wave pattern suggests a pullback to 1.4820/30.
USD/JPY
Gold, Oil and USD/JPY − This morning Yen moved lower to 97.95 by Charmer Charts.com
Sellers will be ready at 98.60 and buyers always hopeful of dodging through the wave of sellers to break the 98.60 region thus giving upward momentum to 99.15/20 once more.
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 ADP EMPLOYMENT CHANGE
| Date (GMT) | Event | Cons. | Previous | |
| May 6 | 12:15 | ADP Employment Change | -644K | -742K |
US economic indicators - ADP private employment probably unchanged by BHF−Bank
The ADP report showed a decrease in private employment by 700k on average in the previous three months, and we expect ADP private employment to have gone down by a similar magnitude in April, given that jobless claims remained around 650k in the relevant midmonth week.
[ Full Story ]Top Market Movers Review
EMU RETAIL SALES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 6 | 09:00 | Retail Sales (YoY) | -4.2% | -2.6% | -4.0% |
| May 6 | 09:00 | Retail Sales (MoM) | -0.6% | 0.1% | -0.3% |
DATA SNAP:Euro−Zone Mar Retail Sales Post Record Annual Drop (Dow Jones)
Euro−zone retail sales posted a record drop in annual terms in March, fueled by the sharpest ever year−on−year slump in sales of food, drink, and tobacco, official data showed Wednesday.
[ Full Story ]- Read the Retail Sales data at Eurostat
- EU Mar Retail Sales down a 0.6%, −4.2% YoY (FXstreet.com)
UK HALIFAX HOUSE PRICES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 6 | 08:00 | Halifax House Prices (YoY) | -17.7% | - | -17.5% |
| May 6 | 08:00 | Halifax House Prices (MoM) | -1.7% | -1.0% | -1.9% |
DATA SNAP: UK Halifax Apr House Prices −1.7% MM, −17.7% YY (Dow Jones)
U.K. house prices fell in April both on the month earlier and year−earlier period, lender Lloyds Banking Group said Wednesday.
[ Full Story ]- Read the HPI data at Halifax
- UPDATE: UK Halifax Apr House Prices −1.7% MM, −17.7% YY (Dow Jones)
- UK Apr Halifax House Prices down 1.7%, −17.7% YoY (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 6 | 08:00 | UK | Halifax House Prices (MoM) | -1.7% | -1.0% | -1.9% |
| 08:00 | UK | Halifax House Prices (YoY) (Apr) | -17.7% | -17.5% | ||
| 08:00 | EMU | Purchasing Manager Index Services (Apr) | 43.8 | 43.1 | 43.1 | |
| 08:30 | UK | Purchasing Manager Index Services (Apr) | 48.7 | 46.3 | 45.5 | |
| 09:00 | EMU | Retail Sales (MoM) (Mar) | -0.6% | 0.1% | -0.3% |
|
| 09:00 | EMU | Retail Sales (YoY) (Mar) | -4.2% | -2.6% | -4.0% | |
| 12:15 | US | ADP Employment Change (Apr) | -644K | -742K | ||
| 12:30 | CA | Building Permits (MoM) (Mar) | 2.6% | -15.9% | ||
| 14:00 | CA | Ivey Purchasing Managers Index (Apr) | 40.5 | 43.2 | ||
| 14:30 | US | EIA Crude Oil Stocks change | 2.6M | 4.1M | ||