Wednesday, Jun 10, 11:14 GMT
U.S. Trading Newsletter
To Get Started
- Learning Center: Chapter 1 of Unit B: Technical Analysis is out. Check it out!
- 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: AUD/USD and GBP/USD Show Continuing Appreciation Despite Extreme Levels by Tim Salem
Greetings again, Everyone! While overall The Fiber and The Cable are in Daily Consolidation in general… The IntraDay Perspective really illustrates the extreme "Out−Of −Favor" Sentiment of The Dollar. This is perhaps, seen most clearly on the Aussie Dollar.
Trading for a Living: French IP Sinks Putting Recovery Thesis In Doubt by David Aranzabal
CEO's Weblog: CFTC Charges SNC Investments Inc., CEO Peter Son, and CFO Jin K. Chung in an $85 Million Forex Ponzi Scam by Francesc Riverola
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Live Sessions Schedule
Profiting from Fear and Greed by trading against the crowd
Expert: David Rodríguez
Start: Wed, Jun 10, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, Jun 10, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jun 10, 13:00 GMT | Profiting from Fear and Greed by trading against the crowd | David Rodríguez | WBN | |
| Wed, Jun 10, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
| Wed, Jun 10, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN | |
| Wed, Jun 10, 17:00 GMT | Live Look at Today's Markets | Derek Frey | WBN |  |
Current Session: Europe − U.S.
GBP/USD: If buyers brak 1.6360, short term objective willl be 1.6435
Charmer Charts.com − Cable reversed direction yesterday with the break above 1.6040. Buyers then went for blood as they chased sellers away until reaching 1.6360. Now the sideways move since this high has eased short term overbought indicators leaving buyers free to try and break 1.6360 this morning. If buyers achieve this they will march on, wiping the sellers to one side and lead this higher with 1.6435 the short term objective.
EUR/USD
Daily Trading Forecast − USD Back in the Trading Range by Swiss e Trade AG
Still on its recovery path, the pair is currently trading at 1.4097 in early European hours. We see a test of the resistance levels around 1.4200 today, from where a setback could follow, down to 1.4090 again.
USD/JPY
Forex: USD/JPY: Dollar testing 98.00 resistance level by FXstreet.com
The Dollar is gathering momentum against the Yen as the pair has risen almost 100 pips from 97.10 intra−day level to test 98.00 resistance at the moment of writing
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 TRADE BALANCE
| Date (GMT) | Event | Cons. | Previous | |
| Jun 10 | 12:30 | Trade Balance | -$28.80B | -$27.58B |
US economic indicators - Trade deficit (Apr): widening due to higher petroleum prices by BHF−Bank
The nominal trade deficit rose slightly by $1.5bn to $27.6bn in March, and it could have increased further in April, to about $29bn, particularly due to higher energy−related import prices. Thus exports are likely to have fallen much more sharply again than imports. However, the real trade deficit could have remained more or less stable.
[ Full Story ]New Zealand RBNZ INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Jun 10 | 21:00 | RBNZ Interest Rate Decision | 2.25% | 2.50% |
Asia Market Update - RBNZ's Bollard Looks to Talk Down NZD Ahead of Meeting by TradeTheNews.com
Having missed a meeting in May, RBNZ is the next central bank on tap for interest rate decision on June 10th.
[ Full Story ]Top Market Movers Review
UK INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jun 10 | 08:30 | Manufacturing Production (MoM) | 0.2% | -0.1% | 0.2% |
| Jun 10 | 08:30 | Industrial Production (MoM) | 0.3% | -0.1% | -0.3% |
| Jun 10 | 08:30 | Industrial Production (YoY) | -12.3% | -12.4% | -12.7% |
| Jun 10 | 08:30 | Manufacturing Production (YoY) | -12.7% | -12.6% | -13.1% |
DATA SNAP: UK Manufacturing, Industrial Output Rise In April (Dow Jones)
[ Full Story ]- Read the Industrial Production data at UK Statistics
- 2nd UPDATE: UK Indus Output Posts First Rise In 14 Months (Dow Jones)
- UPDATE: UK Industrial Output Posts First Rise In 14 Months (Dow Jones)
- Forex: GBP/USD: Pound weakens to 1.6400 after UK data (FXstreet.com)
Friday Notes - UK Industrial Production: Q2 to start on a less weaker note by UniCredit Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jun 10 | 08:30 | UK | Industrial Production (MoM) (Apr) | 0.3% | -0.1% | -0.3% |
| 08:30 | UK | Industrial Production (YoY) (Apr) | -12.3% | -12.4% | -12.7% |
|
| 08:30 | UK | Manufacturing Production (MoM) (Apr) | 0.2% | -0.1% | 0.2% |
|
| 08:30 | UK | Manufacturing Production (YoY) (Apr) | -12.7% | -12.6% | -13.1% |
|
| 08:30 | UK | Total Trade Balance (Apr) | £-3.0B | -£2.4B | -£2.5B | |
| 11:00 | US | MBA Mortgage Applications (Jun 5) | -7.2% | -16.2% | ||
| 12:30 | CA | International Merchandise Trade (Apr) | $0.80B | $1.11B | ||
| 12:30 | CA | New Housing Price Index (MoM) (Apr) | -0.3 | -0.5 | ||
| 12:30 | CA | New Housing Price Index (YoY) (Apr) | -2.4% | |||
| 12:30 | US | Trade Balance (Apr) | -$28.80B | -$27.58B | ||