Friday, May 15, 11:22 GMT
U.S. Trading Newsletter
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- Learning Center: Chapter 4 of Unit A is now online: Trade the facts: consider price action. Read it now!
- Webinar Videos: Economic and Technical View of the Currency Market by Rob Booker
- All the events of the day in our Economic Calendar
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Forex Blogs
Trading for a living: Textbook topping pattern in Cable this morning! by David Aranzabal
Today we have got a Textbook topping pattern in Cable. Before the Frankfurt opening we could foresee the pattern, but after the London opening it was confirmed twice. Nice opportunity for profiting. Let's see the chart: (Cable 60m chart )
FX Market Readings: Narrow range swings for week end by Dr.S. Sivaraman
Forex Trading Today: The Loonie and Pound Yen See Corrective Weakness by Tim Salem
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Live Sessions Schedule
US Pre−Market Open
Expert: Ed Ponsi
Start: Fri, May 15, 12:00 GMT
Type of Session: Webinar
Fibonacci Friday
Expert: Andrei Pehar
Start: Fri, May 15, 15:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Fri, May 15, 11:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN |  |
| Fri, May 15, 12:00 GMT | US Pre−Market Open  | Ed Ponsi | WBN |  |
| Fri, May 15, 13:00 GMT | FX Market Pulse | Raghee Horner | WBN | |
| Fri, May 15, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe − U.S.
Dollar Still in Oversold Condition − Concentrate on the Technical Facts
Swiss e Trade AG − Still in its now three−day−old sideways trading channel, the pair currently is trading downwards in early European hours and is priced right now at 1.3560. The intraday support level at 1.3550 will soon be met and most probably broken on the downside later today, leading to lower levels around 1.3500.
GBP/USD
GBP/USD: Pound dips further, new low at 1.5133 by FXstreet.com
Rejection from 1.5245 on early European session has extended to a fresh intra−day low at 1.5133,. The Pound trades, at the moment at 1.5150, 0.44% below its opening level.
USD/JPY
USD/JPY: Dollar drops further; below 7−week low at 95.15 by FXstreet.com
The Dollar continues its decline from 99.60 high and the pair reaches levels below 95.00, fresh 7−week low, after hitting 94.80 low shortly after Euro Zone GDP and CPI data was released.
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 CONSUMER PRICE INDEX
| Date (GMT) | Event | Cons. | Previous | |
| May 15 | 12:30 | Consumer Price Index (MoM) | 0.0% | -0.1% |
| May 15 | 12:30 | Consumer Price Index Ex Food & Energy (MoM) | 0.1% | 0.2% |
| May 15 | 12:30 | Consumer Price Index (YoY) | -0.6% | -0.4% |
| May 15 | 12:30 | Consumer Price Index Ex Food & Energy (YoY) | 1.8% | 1.8% |
US economic indicators - Inflation data (Apr): ongoing negative rates yoy by BHF−Bank
Consumer prices are likely to have gone up only modestly because of slow demand. Moreover the downward trend in food prices may have accelerated at the consumer level. We expect consumer prices to have remained flat in April, reducing the annual rate to –0.6%. Core CPI could also have risen by a mere 0.1% mom, lowering the annual rate to 1.7%.
[ Full Story ]Top Market Movers Review
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 15 | 09:00 | Consumer Price Index (YoY) | 0.6% | 0.6% | 0.6% |
| May 15 | 09:00 | Consumer Price Index (MoM) | 0.4% | 0.4% | 0.4% |
| May 15 | 09:00 | Consumer Price Index − Core (YoY) | 1.8% | 1.6% | 1.5% |
DATA SNAP: Euro−Zone Inflation At Record Low, Core Picks Up (Dow Jones)
The annual rate of inflation in the 16 countries that use the euro remained at a record low in April, although some core prices strengthened.
[ Full Story ]- EU Apr CPI MoM rises a 0.4%, +0.6% YoY (FXstreet.com)
- Forex: EUR/USD: Euro, below 1.3565 weakens ahead of Eurozone CPI and GDP (FXstreet.com)
EMU GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 15 | 09:00 | Gross Domestic Product s.a. (QoQ) | -2.5% | -2.1% | -1.6% |
| May 15 | 09:00 | Gross Domestic Product s.a. (YoY) | -4.6% | -4.1% | -1.5% |
Eurozone GDP post largest fall on record in 1Q; Euro and Pound pick up (FXstreet.com)
Eurozone's economy has registered the largest quarterly drop since records began in 1995; Gross Domestic Product posted a 2.5% drop on the quarter and a 4.6% year on year decline.
[ Full Story ]- EU 1Q QoQ GDP down 2.5%, −4.6% YoY (FXstreet.com)
- Forex: EUR/USD: Euro, below 1.3565 weakens ahead of Eurozone CPI and GDP (FXstreet.com)
EMU economic indicators - EMU GDP (Q1 2009): down by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 15 | 09:00 | EMU | Consumer Price Index − Core (YoY) (Apr) | 1.8% | 1.6% | 1.5% |
| 09:00 | EMU | Consumer Price Index (MoM) (Apr) | 0.4% | 0.4% | 0.4% | |
| 09:00 | EMU | Consumer Price Index (YoY) (Apr) | 0.6% | 0.6% | 0.6% | |
| 09:00 | EMU | Gross Domestic Product s.a. (QoQ) (1Q) | -2.5% | -2.1% | -1.6% | |
| 09:00 | EMU | Gross Domestic Product s.a. (YoY) (1Q) | -4.6% | -4.1% | -1.5% | |
| 09:00 | TR | TCMB Interest Rate Decision | 9.25% | 9.75% | ||
| 12:30 | US | Consumer Price Index (MoM) (Apr) | 0.0% | -0.1% | ||
| 12:30 | US | Consumer Price Index (YoY) (Apr) | -0.6% | -0.4% | ||
| 12:30 | US | Consumer Price Index Ex Food & Energy (MoM) (Apr) | 0.1% | 0.2% | ||
| 12:30 | US | Consumer Price Index Ex Food & Energy (YoY) (Apr) | 1.8% | 1.8% | ||