EUR/USD
EURUSD initially tried to rally during the course of the session on Monday, but turned right back around to form a shooting star. That being the case, the market looks as if we’re going to try to grind lower. However, there is quite a bit of support below and noise of course, so having said that it’s likely that the sellers will get involved, but the noise will make trading this market quite difficult. On the other hand, a break above the top of the shooting star for the session on Monday would be very bullish.
GBP/USD
GBPUSD initially tried to rally during the course of the session on Monday, and then turn right back around for most of the day and formed a shooting star. Ultimately, breakdown below the bottom of the shooting star could send this market lower, but there is quite a bit of noise just below. If we break the top the candle though, we could go back towards the 1.47 area again. If we do break down, expect quite a bit of choppiness all the way down to the 1.41 level below.
Forex Report
Data Update for 10th May 2016
Date
|
Time
|
Currency
|
Impact
|
Particular
|
Forecast
|
Previous
|
Tue May 10
|
4:31am
|
GBP
|
BRC Retail Sales Monitor y/y
|
-0.70%
| ||
7:00am
|
CNY
|
Medium
|
CPI y/y
|
2.30%
|
2.30%
| |
CNY
|
Medium
|
PPI y/y
|
-3.80%
|
-4.30%
| ||
9:15am
|
JPY
|
10-y Bond Auction
|
-0.07|3.9
| |||
11:15am
|
CHF
|
Unemployment Rate
|
3.50%
|
3.50%
| ||
11:30am
|
EUR
|
German Industrial Production m/m
|
-0.20%
|
-0.50%
| ||
EUR
|
German Trade Balance
|
20.4B
|
19.8B
| |||
12:15pm
|
EUR
|
French Gov Budget Balance
|
-25.6B
| |||
EUR
|
French Industrial Production m/m
|
0.60%
|
-1.00%
| |||
12:45pm
|
USD
|
Medium
|
FOMC Member Dudley Speaks
| |||
1:30pm
|
EUR
|
Italian Industrial Production m/m
|
0.30%
|
-0.60%
| ||
2:00pm
|
GBP
|
Medium
|
Goods Trade Balance
|
-11.2B
|
-12.0B
| |
3:30pm
|
USD
|
NFIB Small Business Index
|
93.2
|
92.6
| ||
7:30pm
|
USD
|
Medium
|
JOLTS Job Openings
|
5.55M
|
5.45M
| |
USD
|
Wholesale Inventories m/m
|
0.20%
|
-0.50%
|
