Wednesday, May 13, 11:13 GMT
U.S. Trading Newsletter
To Get Started
- NEW: Live Webinars during the Asian Trading Session: Markets Commentaries at 5 and 6 GMT. Check our schedule!
- 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
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Forex Blogs
Forex Trading Today: Yen Crosses Continue Accumulative Consolidation by Tim Salem
Our two Major Yen Cross Units, GBP/JPY and EUR/JPY, still remain in larger Consolidating Ranges since our previous Visit with them at 2:00 GMT. While we did find Bullish Hourly Sentiment… we also cannot Clip the larger Horizontal Ranges here, as Asian−Pacific Equities only give us slight Bullish Guidance in considering Correlative Behavior.
CEO's Weblog: FX Trader of the Year Live Contest - 1st Week Ranking. Donze leads 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
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Live Sessions Schedule
Profiting from Fear and Greed by trading against the crowd
Expert: David Rodríguez
Start: Wed, May 13, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, May 13, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, May 13, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Wed, May 13, 13:00 GMT | Profiting from Fear and Greed by trading against the crowd | David Rodríguez | WBN | |
| Wed, May 13, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Wed, May 13, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN | |
Current Session: Europe − U.S.
GBP/USD: Pound plunges to 1.5130 on BoE Inflation report
FXstreet.com − The Pound has plunged about 200 pips to 1.5140 intra−day low from levels around 1.5330 on the back of a downbeat BoE inflation report.
At the moment, the Pound seems to have found support at 1.5135; below there, next support levels lie at 1.5065/70 and 1.5020. Resistance levels lie at 1.5200, and above there, previous intra−day low at 1.5240 and day high at 1.5335/50
USD/JPY
Gold, Oil and USD/JPY − USD/JPY has continued the slide after breaking through 97.05 by Charmer Charts.com
USD/JPY has continued the slide after breaking through 97.05. 95.78 has held the initial attempt, and will have to see if buyers can hold onto this support.
EUR/USD
Daily Forex News − Forex − FT Article Prompts USD Selling by ACM − Advanced Currency Markets
Constructive under immediate resistance (Piercing line on daily chart) at 1.3669 (Yesterday's high), consolidation subsides as we head higher, we continue to aim for 1.3740 area
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 RETAIL SALES
| Date (GMT) | Event | Cons. | Previous | |
| May 13 | 12:30 | Retail Sales (MoM) | 0.0% | -1.2% |
| May 13 | 12:30 | Retail Sales ex Autos (MoM) | 0% | -1% |
US economic indicators - Retail sales (Apr): remaining flat due to unemployment and wealth losses by BHF−Bank
Retail sales declined by 1.2% mom in March – much worse than had been expected given the rebound in domestic car sales, but heavy discounts led to a decrease in the nominal sales figures.
[ Full Story ]Top Market Movers Review
EMU INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 13 | 09:00 | Industrial Production s.a. (MoM) | -2.0% | -1.0% | -2.5% |
| May 13 | 09:00 | Industrial Production w.d.a. (YoY) | -20.2% | -17.6% | -19.1% |
DATA SNAP: Euro−Zone Mar Indus Output Fresh Record YY Drop (Dow Jones)
Industrial production in the 16 countries that use the euro slumped to a fresh record low on the year in March, as output declined across all sectors and in the major euro−zone economies.
[ Full Story ]- UPDATE: Euro−Zone Indus Output Drop Confirms GDP Forecasts (Dow Jones)
- Eurozone Industrial production posts its largest drop on record in March; EUR/USD not affected (FXstreet.com)
- EU Mar Industrial Production falls a 2% MoM, −20.2% YoY (FXstreet.com)
EMU economic indicators - EMU industrial production (March): down by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 13 | 11:12 | JP | BoJ's Governor Shirakawa Speech | |||
| 09:00 | EMU | Industrial Production s.a. (MoM) (Mar) | -2.0% | -1.0% | -2.5% |
|
| 09:00 | EMU | Industrial Production w.d.a. (YoY) (Mar) | -20.2% | -17.6% | -19.1% |
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| 09:30 | UK | Bank of England Quarterly Inflation Report | ||||
| 09:30 | UK | BoE's Governor King Speech | ||||
| 11:00 | US | MBA Mortgage Applications (May 8) | -8.6% | 2.0% | ||
| 12:30 | US | Import Price Index (MoM) (Apr) | 0.4% | 0.5% | ||
| 12:30 | US | Import Price Index (YoY) (Apr) | -16.8% | -14.9% | ||
| 12:30 | CA | New Motor Vehicle Sales (MoM) (Mar) | 6.1% | -2.2% | ||
| 12:30 | US | Retail Sales (MoM) (Apr) | 0.0% | -1.2% |
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