Friday, May 08, 11:22 GMT
U.S. Trading Newsletter
To Get Started
- Learning Center: Chapter 4 of Unit A is now online: Trade the facts: consider price action. 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
The Advisor Blog: Canada employment situation better than expected by Valeria Bednarik
Employment situation continues improving around the world. After this week surprise rise in Australian employment data, Canada report show unemployment rate remains at 8%, as previous month but less than expected, and net jobs rose 35.9K against an expected lost.
CEO's Weblog: Ashraf Laidi 5th Confirmed Speaker of the International Traders Conference (ITC 2009) by Francesc Riverola
Trading for a Living: Majors at a glance 8/05/2009 by David Aranzabal
Find other fellow traders to share your comments and market view in the FOREX FORUM
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Live Sessions Schedule
SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 36th Edition
Expert: Wayne McDonell
Start: Fri, May 8, 11:30 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Fri, May 8, 11:30 GMT | SPECIAL EVENT: Trade Non−Farm Payrolls LIVE − 36th Edition | Wayne McDonell | WBN | |
| Mon, May 11, 09:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN |  |
| Mon, May 11, 12:30 GMT | Trading Forex Volatility  | James Chen | WBN |  |
| Mon, May 11, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe − U.S.
EURUSD: Volatility continues to see the pair oscillate in a 1.3214 – 1.3439 range
ACM − Advanced Currency Markets − Volatility continues to see the pair oscillate in a 1.3214 – 1.3439 range. Head and shoulders started in May see's a neckline at 1.3251 which we tested this morning, a retest of this level would see the pair head lower and aim for bottom of the range for support. 50% retracement on resumption of the bull move on April 28th stands at 1.3200, a break of this level would see the pair head for 1.2964.
GBP/USD
Daily Trading Forecast − Cable is still following its sideways trend in this European morning by Swiss e Trade AG
Cable is still following its sideways trend in this European morning, currently trading at 1.5030 in a recovery attempt towards the upper limit of the current trading band at 1.5100. We see that limit being tested today, but not broken.
USD/JPY
Forex Daily Analysis − The pair has been range−trading for a while now by ForexYard
Cable is still following its sideways trend in this European morning, currently trading at 1.5030 in a recovery attempt towards the upper limit of the current trading band at 1.5100. We see that limit being tested today, but not broken.
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 NONFARM PAYROLLS
| Date (GMT) | Event | Cons. | Previous | |
| May 8 | 12:30 | Nonfarm Payrolls | -620K | -663K |
| May 8 | 12:30 | Unemployment Rate | 8.9% | 8.5% |
US: Non−farm payrolls preview by RANsquawk
Since the ADP number on Wednesday this week (−491k vs. −645k exp), following on from the employment constituent of the Non−manufacturing ISM report on Tuesday (37.0 vs. 32.3 prev) the Bloomberg consensus for today's NFP looks out of date.
[ Full Story ]- Forex: EUR/USD: Euro, between 1.3400 and 1.3445 ahead of Non Farm Payrolls (FXstreet.com)
- European markets advance driven by banks; Euro and Pound in range pre−NFP (FXstreet.com)
Spot Forex Trades - Dollar Basket Trend Lines ahead of NFP by ForexSurvivor
US: Preview of April unemployment and NFP by Easy Forex
Top Market Movers Review
Germany INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 8 | 10:00 | Industrial Production s.a. (MoM) | 0.0% | -1.3% | -2.9% |
| May 8 | 10:00 | Industrial Production s.a. w.d.a. (YoY) | -20.4% | -20.9% | -20.6% |
DATA SNAP: German Industrial Output Flat In March (Dow Jones)
German industrial production was flat in March after February's slump, raising hopes that the yearlong downturn in industry may have come to a halt, data from the Economics Ministry showed Friday.
[ Full Story ]- UPDATE: German Indus Output Flat In March; Raises Hopes (Dow Jones)
- German Econ Min: Some Indications Slump Has Reached Bottom (Dow Jones)
- Germany Mar Industrial Production unchanged on month, −20.4% on year (FXstreet.com)
EMU economic indicators - Output in the German producing sector (March): down by BHF−Bank
UK PRODUCER PRICE INDEX − INPUT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 8 | 08:30 | Producer Price Index − Output (MoM) n.s.a | 0.6% | 0.2% | 0.1% |
| May 8 | 08:30 | Producer Price Index − Output (YoY) n.s.a | 1.2% | 0.7% | 2.0% |
| May 8 | 08:30 | Producer Price Index − Input (MoM) s.a | -1.0% | 0.8% | 1.3% |
| May 8 | 08:30 | Producer Price Index − Input (YoY) n.s.a | -5.0% | -3.5% | -0.4% |
DATA SNAP: UK April PPI At Multiyear Low As Fuel Price Drops (Dow Jones)
U.K. factory gate prices rose at their slowest pace in five years in April, while input prices dropped at the fastest rate in almost seven years, as fuel costs slumped, official data released Friday showed.
[ Full Story ]- Read the PPI data at UK Statistics
- UK Apr Output PPI increases 0.6%, +1.2% YoY (FXstreet.com)
- UK Apr Input PPI falls a 1%, −5% YoY (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 8 | 08:30 | UK | Producer Price Index − Input (YoY) n.s.a (Apr) | -5.0% | -3.5% | -0.4% |
| 08:30 | UK | Producer Price Index − Output (MoM) n.s.a (Apr) | 0.6% | 0.2% | 0.1% | |
| 10:00 | DE | Industrial Production s.a. (MoM) (Mar) | 0.0% | -1.3% | -2.9% | |
| 10:00 | DE | Industrial Production s.a. w.d.a. (YoY) (Mar) | -20.4% | -20.9% | -20.6% | |
| 11:00 | CA | Net Change in Employment (Apr) | 35.9K | -50.0K | -61.3 | |
| 11:00 | CA | Unemployment Rate (Apr) | 8.0% | 8.3% | 8.0% | |
| 12:15 | CA | Housing Starts s.a (YoY) (Apr) | 140.0K | 146.5K |
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| 12:30 | US | Average Hourly Earnings (MoM) (Apr) | 0.2% | 0.2% | ||
| 12:30 | US | Average Hourly Earnings (YoY) (Apr) | 3.3% | 3.4% | ||
| 12:30 | US | Average Weekly Hours (Apr) | 33.2 | 33.2 | ||