Wednesday, Jul 15, 11:23 GMT
U.S. Trading Newsletter
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- WEBINAR VIDEOS: Introduction to Candlestick Patterns by Andrei Pehar
- All the events of the day in our Economic Calendar
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Forex Blogs
Trading for a living: Early risers won the price today by David Aranzabal
Usually we see big moves at the Frankfurt − London Window, but today the move started 15 min before (It happens some times…) so if you didn't catched the breakout, you may lose the move, as the price didn't retrace too much. The upside move stopped at 1 week resistances (as expected as the market has been in range for 1 week), so that was a good level for taking profits.
CEO'S Weblog: First semester of 2009: Historic growth for FXstreet.com by Francesc Riverola
The Trader's Edge: EUR/USD Briefs and NZD/USD Chart Analysis by Ross Yamashita
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Live Sessions Schedule
Main Fundamental theme in the Currency market
Expert: Terri Belkas
Start: Wed, Jul 15, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Economic and Technical View of the Currency Market
Expert: Rob Booker
Start: Wed, Jul 15, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Wed, Jul 15, 11:00 GMT | Using Fibonacci ratios to manage your trades efficiently | Sunil Mangwani | WBN |  |
| Wed, Jul 15, 13:00 GMT | Main Fundamental theme in the Currency market | Terri Belkas | WBN | |
| Wed, Jul 15, 14:00 GMT | Economic and Technical View of the Currency Market | Rob Booker | WBN |  |
| Wed, Jul 15, 16:00 GMT | Institutional Trading Strategies  | Andrei Pehar | WBN | |
Current Session: Europe − U.S.
More Signs of U.S. Economic Recovery Put a Lid on the Greenback
Swiss e Trade AG − Both Retail Sales and Producer Price reports yesterday in the U.S. signaled a continuous recovery out of recession. Because of the previous massive monetary and fiscal expansion, the market fears future inflationary dangers. That weighs on the dollar versus its trade partners, because it is the currency first expected to run into inflation. There is a feeling of such a thing in the Forex market right now, whether justified or not, so we defer from long positions in the dollar short term.
EUR/JPY
The EUR/JPY rose for a third day after touching a high at 130.96 by Varengold Bank
The JPY fell close to a one−week low against the EUR before a U.S. report today that may show industrial production shrank at a slower pace, added signs that worst of the recession maybe is over.
London Session
Market Session Recaps by Forex.com
A strong earnings report from Intel has allowed risk appetite to continue to improve this morning. Asian stocks benefitted from the news, the Nikkei lagging, and the stronger tone has been extended into European hours.
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 | |
| Jul 15 | 12:30 | Consumer Price Index Ex Food & Energy (MoM) | 0.1% | 0.1% |
| Jul 15 | 12:30 | Consumer Price Index (MoM) | 0.1% | 0.1% |
| Jul 15 | 12:30 | Consumer Price Index (YoY) | -1.6% | -1.3% |
| Jul 15 | 12:30 | Consumer Price Index Ex Food & Energy (YoY) | 1.7% | 1.8% |
US: Preview of June CPI by Easy Forex
US June Consumer Price Index (CPI) will be released on July 15th. The CPI is seen as the most important measure of inflation and measures the price level of goods and services purchased at the consumer level. CPI can be greatly influenced by movements in the volatile "food and energy component." Therefore it is important to look at the CPI excluding food and energy which is known as the "core rate" of inflation. The most closely watched components of the core rate are apparel, tobacco, airfares and new car sales. May CPI dropped 1.3%.
[ Full Story ]US INDUSTRIAL PRODUCTION
| Date (GMT) | Event | Cons. | Previous | |
| Jul 15 | 13:15 | Industrial Production (MoM) | -0.6% | -1.1% |
US economic indicators - Industrial production (May): automobile plant shutdowns lead to sharp drop by BHF−Bank
The 2.1% mom decline in aggregate hours worked in manufacturing also indicates that industrial production could have fallen by about 1.0% mom in May. The capacity utilisation rate is likely to have gone down to a new all−time low of about 68.5%, compared to the long−time average of a good 80%.
[ Full Story ]Top Market Movers Review
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 15 | 09:00 | Consumer Price Index (YoY) | -0.1% | -0.1% | 0.0% |
| Jul 15 | 09:00 | Consumer Price Index − Core (YoY) | 1.4% | 1.5% | 1.5% |
| Jul 15 | 09:00 | Consumer Price Index − Core (MoM) | -0.1% | - | - |
| Jul 15 | 09:00 | Consumer Price Index (MoM) | 0.2% | 0.2% | 0.1% |
Euro Zone CPI rises 0.2% MoM in Jun, falls 0.1% YoY (FXstreet.com)
[ Full Story ]- Read the CPI data at Eurostat
- Forex: EUR/USD resumes its advance after June EU CPI (FXstreet.com)
- East Europe June Inflation Rates Too High For Euro−Zone Entry (Dow Jones)
EMU economic indicators - Final HICP is likely to be confirmed at −0.1 % yoy by BHF−Bank
Friday Notes - EMU, CPI: Inflation turns negative by UniCredit Group
UK CLAIMANT COUNT RATE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jul 15 | 08:30 | ILO Unemployment Rate (3M) | 7.6% | 7.4% | 7.2% |
| Jul 15 | 08:30 | Jobless Claims Change | 23.8K | 41.2K | 30.8K |
| Jul 15 | 08:30 | Claimant Count Rate | 4.8% | 5.0% | 4.8% |
DATA SNAP: UK June Claimant Count Rise Slowest For 13 Mos (Dow Jones)
[ Full Story ]- UPDATE: UK June Claimant Count Rise Slowest For 13 Mos (Dow Jones)
- Forex: GBP/USD reacts down after UK bad Unemployment data (FXstreet.com)
- UK May ILO Unemployment Rate up to 7.6% vs 7.2% (FXstreet.com)
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jul 15 | 08:30 | UK | Average Earnings excluding Bonus (3Mo/Yr) (May) | 2.6% | 2.6% | 2.7% |
| 09:00 | EMU | Consumer Price Index − Core (MoM) (Jun) | -0.1% | |||
| 09:00 | EMU | Consumer Price Index − Core (YoY) (Jun) | 1.4% | 1.5% | 1.5% | |
| 09:00 | EMU | Consumer Price Index (MoM) (Jun) | 0.2% | 0.2% | 0.1% | |
| 09:00 | EMU | Consumer Price Index (YoY) (Jun) | -0.1% | -0.1% | 0.0% | |
| 11:00 | US | MBA Mortgage Applications (Jul 10) | 4.3% | 10.9% | ||
| 12:30 | US | Consumer Price Index (MoM) (Jun) | 0.1% | 0.1% | ||
| 12:30 | US | Consumer Price Index (YoY) (Jun) | -1.6% | -1.3% | ||
| 12:30 | US | Consumer Price Index Ex Food & Energy (MoM) (Jun) | 0.1% | 0.1% | ||
| 12:30 | US | Consumer Price Index Ex Food & Energy (YoY) (Jun) | 1.7% | 1.8% | ||