Tuesday, May 19, 11:23 GMT
U.S. Trading Newsletter
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Forex Blogs
Trading for a living: Nice second leg in cable give us 150 pips in 2 hours at the European start by David Aranzabal
Today we got a second leg in Cable. Before the European opening we got the price dancing around the Asian resistance (1 week high) so we were in alert expecting a reversal. Finally price touched the Asian support, reversed and give us the breakout. The second leg was very nice technically speaking. Let's review.
Forex Trading Today: Risk Appetite Prevails with GBP/USD as Corrections Are Delayed by Tim Salem
CEO's Weblog: Retail Forex Industry - FXDD Fighting NFA Hedging Rule a Misleading Information. Apologies FXDD by Francesc Riverola
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Live Sessions Schedule
The Weather Report: Ichimoku Cloud Trading
Expert: Chris Capre
Start: Tue, May 19, 14:00 GMT
Type of Session: Webinar
Trading with Autochartist
Expert: Raghee Horner
Start: Tue, May 19, 15:00 GMT
Type of Session: Webinar
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| Tue, May 19, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Tue, May 19, 12:00 GMT | US Session Open | Ed Ponsi | WBN |  |
| Tue, May 19, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
| Tue, May 19, 14:00 GMT | The Weather Report: Ichimoku Cloud Trading | Chris Capre | WBN | |
Current Session: Europe − U.S.
EUR/USD: About to attack the longer−term resistance line around the 1.3700 zone
Swiss e Trade AG − Developing even more strength this European morning, the pair is about to attack the longer−term resistance line around the 1.3700 zone. Right now trading at 1.3630, we expect the buying mood to slow down first, correcting back to the 1.3580 level, before new upward momentum can be expected.
GBP/USD
Dollar and Yen Drop; Pound hits 2009 high by FXstreet.com
GBP/USD recovery from 1.5115 Monday's low has extended on Tuesday's European session to hit the highest level in the year so far at 1.5503.
USD/JPY
Gold, Oil and USD/JPY − USD/JPY bounced higher yesterday to 96.47 by Finotec Group Inc.
USD/JPY bounced higher yesterday to 96.47. However it is currently coming under a bit of selling pressure. Support is between 96.20and 95.90 and buyers should come out here and defend these levels.
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 HOUSING STARTS
| Date (GMT) | Event | Cons. | Previous | |
| May 19 | 12:30 | Building Permits (MoM) | 0.530M | 0.516M |
| May 19 | 12:30 | Housing Starts (YoY) | 520K | 510K |
US economic indicators - Housing starts & building permits (Apr): stabilizing at low levels by BHF−Bank
We forecast that April housing starts will have increased to at least 530k – still only slightly more than half the level of April 2008. However, it is encouraging that single−family starts have stabilized in the first three months of 2009. Building permits are also likely to have risen to about 530k in April, compared to 982k one year ago.
[ Full Story ]Top Market Movers Review
Germany ZEW SURVEY − ECONOMIC SENTIMENT
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 19 | 09:00 | ZEW Survey − Economic Sentiment | 31.1 | 20.0 | 13.0 |
DATA SNAP: German ZEW Econ Expectations Rise Sharply In May (Dow Jones)
Economic expectations in Germany improved sharply in May, indicating that the country's economic downturn is easing, a survey by the ZEW think−tank showed Tuesday.
[ Full Story ]- 3rd UPDATE: German ZEW Econ Expectations Rise Sharply In May (Dow Jones)
- 2nd UPDATE: German ZEW Econ Expectations Rise Sharply In May (Dow Jones)
- Forex: EUR/GBP tests 0.8825 after better than expected ZEW data (FXstreet.com)
EMU economic indicators - German ZEW economic sentiment (May): improvement by BHF−Bank
UK CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 19 | 08:30 | Consumer Price Index (YoY) | 2.3% | 2.4% | 2.9% |
| May 19 | 08:30 | Core Consumer Price Index (YoY) | 1.5% | 1.7% | 1.7% |
| May 19 | 08:30 | Consumer Price Index (MoM) | 0.2% | 0.4% | 0.2% |
UK CPI rises 0.2% in April; 2.3% on Year; Pound squeezes higher (FXstreet.com)
Consumer prices have increased 0.2% in the UK in April and 2.3% from the same month last year, according to data released by National Statistics; The Pound hits another year−high.
[ Full Story ]- Read the CPI data at UK Statistics
- UPDATE:UK Apr Inflation Slows To 2.3%; RPI Marks Record Drop (Dow Jones)
- Forex: GBP/USD: The Pound hits 1.5497; fresh 2009 high (FXstreet.com)
- UK Apr Retail Price Index rises 0.1% on the month and falls 1.2% on the year (FXstreet.com)
Inflation Observatory - Core inflation exceeded expectations by BBVA Bancomer
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 19 | 08:30 | UK | Consumer Price Index (MoM) (Apr) | 0.2% | 0.4% | 0.2% |
| 08:30 | UK | Consumer Price Index (YoY) (Apr) | 2.3% | 2.4% | 2.9% | |
| 08:30 | UK | Core Consumer Price Index (YoY) (Apr) | 1.5% | 1.7% | 1.7% | |
| 08:30 | UK | Retail Price Index (MoM) (Apr) | 0.1% | 0.2% | 0.0% | |
| 08:30 | UK | Retail Price Index (YoY) (Apr) | -1.2% | -1.2% | -0.4% | |
| 09:00 | DE | ZEW Survey − Economic Sentiment (May) | 31.1 | 20.0 | 13.0 | |
| 12:30 | US | Building Permits (MoM) (Apr) | 0.530M | 0.516M |
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| 12:30 | US | Housing Starts (YoY) (Apr) | 520K | 510K | ||
| 17:15 | US | Fed's Stern speech | ||||
| 21:00 | US | ABC/Washington Post Consumer Confidence (May 17) | -42 | |||