Monday, May 11, 11:21 GMT
U.S. Trading Newsletter
To Get Started
- NEW: Live Webinars during the Asian Trading Session at 5 GMT. Register now!
- Learning Center: Chapter 4 of Unit A is now online: Trade the facts: consider price action. Read it now!
- Webinar Videos: The Weather Report: Ichimoku Cloud Trading by Chris Capre
- All the events of the day in our Economic Calendar
Note that our messages might be blocked by anti-spam filters so please add newsletter@fxstreet.com or our domain (fxstreet.com) to your address book.
Forex Blogs
Trading for a living: Topping formation during the weekend give us 100 pips in cable by David Aranzabal
Today we got a nice trade in Cable, we were almost stopped out but finally we got our 100 pips at the European Opening. This video plays HD (High Definition) . Remember to press the Full Screen button to view the video in HD (High Definition).
CEO's Weblog: Electronic forex trading thrives during crisis - Greenwich Associates by Francesc Riverola
The Advisor Blog: Majors’s sentiment for today by Valeria Bednarik
Find other fellow traders to share your comments and market view in the FOREX FORUM
Sponsored by 
Live Sessions Schedule
Derek Frey's Outlook
Expert: Derek Frey
Start: Mon, May 11, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Weekly Webinar: 1st on Forex − The Week Ahead
Expert: Jerry Furst
Start: Mon, May 11, 16:00 GMT
Sponsored by: 
Type of Session: Webinar
| Sponsored by | ||||
| Mon, May 11, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Mon, May 11, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Mon, May 11, 14:00 GMT | Derek Frey's Outlook | Derek Frey | WBN | |
| Mon, May 11, 15:00 GMT | Advanced Methods for Finding Dominant Trends in Forex Markets | Mark Whistler | WBN | |
Current Session: Europe − U.S.
GBP/USD
May 11, 11:07 GMTUpward Correction for USD Overdue
Swiss e Trade AG − Cable already corrected downwards by almost 150 pips in early European trading from highs around 1.5250 to now 1.5110. We expect a pause in this selling mood with some recovery moves coming in soon, but not above 1.5160. Further weakness is in the cards today then, testing the 1.5060 level.
USD/JPY
USD/JPY: The dollar fell to two−weeks low at 97.60 by FXstreet.com
Decline from 99.60 resistance level on Friday has extended on Monday's European session as the Dollar has dropped about 100 pips to hit a fresh two weeks low at 97.60.
EUR/USD
London Session − NZD/USD: Kiwi reached a fresh 7−month high at 0.6130 by FOREX.com
At the close of last week EUR/USD surged to close above its 200 day moving average (1.3464) for the first time since last August. The bullish technical picture supported EUR/USD through Asian hours but buying interest has subsequently petered out.
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
UK INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Cons. | Previous | |
| May 12 | 08:30 | Manufacturing Production (YoY) | - | -13.8% |
| May 12 | 08:30 | Manufacturing Production (MoM) | -0.8% | -0.9% |
| May 12 | 08:30 | Industrial Production (YoY) | - | -12.5% |
| May 12 | 08:30 | Industrial Production (MoM) | -0.7% | -1.0% |
Friday Notes - UK, industrial production: Close to the bottom by UniCredit Group
Surveys of factory activity were mixed for March, with the CBI still in free fall and the PMI marking a noticeable rebound. We expect industrial production to continue to contract unabated in March: total and manufacturing production should have been down 1.0% m−o−m.
[ Full Story ]Top Market Movers Review
US WHOLESALE INVENTORIES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 8 | 14:00 | Wholesale Inventories | -1.6% | -1.0% | -1.7% |
DATA SNAP: US Wholesale Inventories Fall Again In March (Dow Jones)
U.S. wholesale inventories fell for a seventh straight month in March as sales returned to negative territory after posting a small gain in February, a government report released Friday showed.
[ Full Story ]- Read the Wholesale Inventories data at Census Bureau
- US Mar Wholesale Inventories improve down 1.6% (FXstreet.com)
US economic indicators - Wholesale inventories are likely to have dropped by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 11 | 01:30 | AU | National Australia Bank's Business Conditions (Apr) | -10 | -17 | |
| 01:30 | AU | National Australia Bank's Business Confidence | -14 | -13 | ||
| 12:30 | CA | New Housing Price Index (MoM) (Mar) | -0.5 | -0.7 | ||
| 12:30 | CA | New Housing Price Index (YoY) (Mar) | -1.8% | |||
| 22:45 | NZ | Food Price Index (MoM) (Apr) | 0.5% | |||
| 23:01 | UK | BRC Retail Sales Monitor − All (YoY) | -1.2% | |||
| 23:01 | UK | RICS House Price Balance | -70.0% | -73.1% | ||
| 23:30 | US | Fed's Bernanke Speech | ||||
| May 12 | 01:30 | AU | Home Loans | 4.5% | 0.4% | |
| 01:30 | AU | Investment Lending (Mar) | -2.98% | |||