Thursday, May 07, 11:19 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: Understanding the simple rules of Money Management – Part I: The Risk-to-Reward ratio by Sunil Mangwani
- All the events of the day in our Economic Calendar
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Forex Blogs
Trade Setups: Forex Video − 07 May − '09 − Analysis by Phil Newton
Todays Forex Video showing the full range of cross rates that I look at again highlighting the direction bias and the conditions I'm looking for to enter into a position as well as a look at some of the current positions that I have open for the moment.
Trading for a Living: Markets in range, but we got 40 pips at the European opening by David Aranzabal
CEO's Weblog: NFA confirms FIFO delay to July 31st 2009 by Francesc Riverola
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Live Sessions Schedule
Tracking the forex market together / Part II
Expert: Dr.S.Sivaraman
Start: Thu, May 7, 13:00 GMT
Type of Session: Webinar
Live Look at Today's Markets
Expert: Derek Frey
Start: Thu, May 7, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Thu, May 7, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, May 7, 13:00 GMT | Tracking the forex market together / Part II | Dr.S.Sivaraman | WBN |  |
| Thu, May 7, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN | |
| Fri, May 8, 11:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 36th Edition | Wayne McDonell | WBN |  |
Current Session: Europe − U.S.
EUR/USD: Euro reaches 1.3345 intra day high ahead of ECB
Mizuho Corporate Bank − The Euro has appreciated on today's European trading session, ahead of the ECB monetary policy meeting. From 13250 low, the Euro has reached an intra−day high at 1.3345 to set back later to levels around 1.3320.
Resistance levels lie at 1.3345/55 area (Intra−day high) and above there, 1.3375 (May 6 high) and 1.3435 (May 5 high). On the downside, support levels lie at 1.3280 and 1.3250 intra−day low, below there, next support could be at 1.3210 (May 4 low).
GBP/USD
GBP/USD: Pound breaks above 1.5165; fresh 4−month high by FXstreet.com
The Pound is picking up strength ahead of the BoE monetary Policy decision, and its rally from intra−day low at 1.5070 has extended above 1.5165 may 5 high reaching levels close to 1.5200, a fresh 4−month high.
USD/JPY
USD/JPY: After a dull Asian session, the dollar picked up steam by Swiss e Trade AG
After a dull Asian session, the dollar picked up steam against the yen in this European morning, with current prices at 99.20 seemingly ready to attack the 100.00 resistance area again.
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
EMU ECB INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| May 7 | 11:45 | ECB Interest Rate Decision | 1.00% | 1.25% |
ECB preview: Announcing non−standard measures by Danske Bank A/S
We expect the ECB to cut the refinancing rate by 25bp to 1.0%. This is likely to be the end of this cutting cycle as the governing council seems reluctant to go below 1%.
Sunrise Market Commentary - ECB to decide on ‘non−standard' measures by KBC Bank
FX Daily Update - Buy the Rumor Sell the Fact for the Euro? by SpikeCharts
Top Market Movers Review
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 7 | 11:00 | BoE Interest Rate Decision | 0.5% | 0.5% | 0.5% |
Bank Of England Keep Interest Rates On Hold At 0.50% (Dow Jones)
The Bank of England's Monetary Policy Committee Thursday increased its bond−buying plan to GBP125 billion from GBP75 billion and kept its key interest rate at 0.5%, as it responded to the risk of serious economic decline.
[ Full Story ]- Read the Official Statement at BoE
- BoE leaves Bank Rate unchanged at 0.5%; GBP plunges (FXstreet.com)
- Forex: GBP/USD reacts down after BoE monetary policy decision, below 1.5100 (FXstreet.com)
- BoE leaves its interest rate steady at 0.5% (FXstreet.com)
Germany FACTORY ORDERS S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 7 | 10:00 | Factory Orders s.a. (MoM) | 3.3% | -1.0% | -3.5% |
| May 7 | 10:00 | Factory Orders n.s.a. (YoY) | -26.7% | -35.8% | -38.2% |
DATA SNAP: German Manufacturing Orders Jump In March (Dow Jones)
German manufacturing orders unexpectedly jumped in March, as both foreign and domestic orders recovered from February, raising hopes for an economic recovery, economics ministry data showed Thursday.
[ Full Story ]- Read the Factory Orders data at BMWi [text in German]
- UPDATE: German Manufacturing Orders Jump In March (Dow Jones)
- Germany Factory Orders rise 3.3% in Mar, −26.7% YoY (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 7 | 07:15 | CH | Consumer Price Index (MoM) (Apr) | 0.9% | 0.6% | -0.3% |
| 07:15 | CH | Consumer Price Index (YoY) (Apr) | -0.3% | -0.6% | -0.4% | |
| 10:00 | IS | CBI Interest Rate Decision | 13.0% | 15.5% | ||
| 10:00 | DE | Factory Orders n.s.a. (YoY) (Mar) | -26.7% | -35.8% | -38.2% | |
| 10:00 | DE | Factory Orders s.a. (MoM) (Mar) | 3.3% | -1.0% | -3.5% | |
| 11:00 | UK | BoE Interest Rate Decision | 0.5% | 0.5% | 0.5% | |
| 11:45 | EMU | ECB Interest Rate Decision | 1.00% | 1.25% | ||
| 12:30 | US | Continuing Jobless Claims (Apr 25) | 6350K | 6271K | ||
| 12:30 | EMU | ECB Trichet's Speech | ||||
| 12:30 | US | Initial Jobless Claims (May 2) | 635K | 631K | ||