Wednesday, May 20, 11:27 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: 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
Forex Trading Today: Aussie, Loonie, and The Queen Accumulate as They Prepare for Data by Tim Salem
Greetings Again, Everyone! We bring back our two Commodity Currencies from our previous Update at 1:00 GMT… only to find them under Accumulative Consolidation as we await Data Points, as well as Price simply looking ahead to Deep or Shallow Retracements… or perhaps none at all!
Trading for a Living: Majors at a glance 20/05/2009 by David Aranzabal
FX Market Readings: EURO and GBP are expected to swing and rise more for mid week by Dr. S. Sivaraman
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Live Sessions Schedule
Main Fundamental theme in the Currency market
Expert: Terri Belkas
Start: Wed, May 20, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, May 20, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, May 20, 11:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN |  |
| Wed, May 20, 12:00 GMT | US Session Open  | Ed Ponsi | WBN |  |
| Wed, May 20, 13:00 GMT | Main Fundamental theme in the Currency market | Terri Belkas | WBN | |
| Wed, May 20, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe − U.S.
EUR / USD Back in the Old See−Saw
Swiss e Trade AG − Attacking again the 1.3650 / 1.3700 resistance zone, the pair recovered in early European trading hours, currently priced at 1.3645. We see that recovery move to ease in today's trading, failing to break the mentioned resistance zone. A move back to the 1.3550 support is eventually in the cards.
GBP/USD
GBP/USD: Pound eases from fresh 5−month high at 1.5537 by FXstreet.com
The Pound has reached a fresh 5−month high at 1.5537 and the pair has eased afterwards to levels right below 1.5500. The Pound has remained trading above 1.5450 after yesterday's rally from 1.5300.
USD/JPY
Daily Technical Strategist − USDJPY: 95.65 is holding the push lower for now by Charmer Charts.com
USD/JPY did find support between 96.20and 95.90 as expected yesterday but this level has given way today.
95.65 is holding the push lower for now but a break below sees sellers aim for 95.00 then 95.43 where once more buyers are lying in wait.
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 FOMC MINUTES
| Date (GMT) | Event | Cons. | Previous | |
| May 20 | 18:00 | FOMC Minutes | - | - |
US economic indicators - FOMC minutes (29 Apr): adjusted projections for 2009 to 2011 by BHF−Bank
The FOMC minutes of the meeting on 28/29 April will include adjusted projections for GDP growth, inflation and unemployment. Three months ago, the FOMC expected a central tendency for 2009 GDP growth (Q4/Q4) of –1.3% to 0.5%, but after two quarters of annualised negative growth rates of more than 6% qoq, the range could be revised to –2.0% to –0.5%.
[ Full Story ]Friday Notes - FOMC minutes (april): Zero interest rate policy by UniCredit Group
Top Market Movers Review
UK CBI INDUSTRIAL TRENDS SURVEY − ORDERS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 20 | 10:00 | CBI Industrial Trends Survey − Orders (MoM) | -56 | -50 | -57 |
DATA SNAP: UK CBI: May Indus Output Strongest For 8 Mos (Dow Jones)
U.K. industrial output declined for the 11th consecutive month in May, but posted its strongest performance since September in a sign the economic downturn is bottoming out, data from the Confederation of British Industry showed Wednesday.
[ Full Story ]- Read the Industrial Trends Survey data at CBI
- UK CBI Industrial Trends Survey up to −56 in May from −57 (FXstreet.com)
UK BANK OF ENGLAND MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| May 20 | 08:30 | Bank of England Minutes | - | - | - |
Forex: GBP/USD: Pound steady right below 1.5525 after BoE minutes (FXstreet.com)
The Pound remains steady at levels right below 5−month high at 1.5523 after the release of the minutes of the Bank of England's last monetary policy meeting. The Pound trades at 1.5510 at the time of writing.
[ Full Story ]- Read full Minutes at BoE
- Forex: GBP/USD: Pound hits a fresh 5−month high at 1.5533 (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| May 20 | 10:00 | UK | CBI Industrial Trends Survey − Orders (MoM) (May) | -56 | -50 | -57 |
| 11:00 | CA | Bank of Canada Consumer Price Index Core (MoM) (Apr) | 0.1% | 0.1% | 0.3% | |
| 11:00 | CA | Bank of Canada Consumer Price Index Core (YoY) (Apr) | 1.8% | 1.8% | 2.0% | |
| 11:00 | CA | Consumer Price Index (MoM) (Apr) | -0.1% | 0.2% | 0.2% | |
| 11:00 | CA | Consumer Price Index (YoY) (Apr) | 0.4% | 0.6% | 1.2% | |
| 11:00 | US | MBA Mortgage Applications (May 15) | 2.3% | -8.6% | ||
| 12:30 | CA | Leading Indicators (MoM) (Apr) | -1.0% | -1.3% | ||
| 13:30 | US | Treasury's Geithner Speech | ||||
| 14:30 | US | EIA Crude Oil Stocks change | -1.3M | -4.7M | ||
| 18:00 | US | FOMC Minutes | ||||