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- Name: curioso
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Journal
Thursday,May 15 2008, 03:32:03 PM Daily Economic Calender
ACM / Economic calendar and daily foreign exchange news & analysis
From: news@ac-markets.com
To: cyrusvadani@msn.com
By Jean-Claude Braha - ACM Advanced Currency Markets, Geneva, Switzerland
Today's Economic Calendar: TIME (GMT) EVENT VALUE NAME CONS.
06:45 FR:CPI
08:00 IT:CPI
08:30 GB:ILO Unemployment Rate
08:30 GB:Claimant Unemployment Rate
08:30 GB:Average Earnings
09:00 EMU:Industrial Production
11:00 US:MBA Purchase Applications
12:30 US:Consumer Price Index
14:30 US:EIA Petroleum Status Report
Full week Economic Calendar
Dollar rallied on better-than-expected US Retail Sales
News and Events:The Dollar rallied broadly on Tuesday after a report on April Retail Sales beat forecasts and supported views that the Federal Reserve will probably stop cutting interest rates next month. Retail Sales, ex-autos, increased 0.5%, more than double the increase that economists had forecast. That followed a 0.4% pickup in March, suggesting that the US consumer remained resilient despite the housing market rout.
The market was little moved by Fed Chairman Ben Bernanke's comments that the central bank's liquidity measures had helped relieve strain in financial markets, but that the recovery process remained incomplete.
Euro was under pressure by a rights issue from Credit Agricole after it reported write-downs related to the US sub-prime mortgage sector. This indicated the euro zone is not immune to the problems in the United States and analysts are convinced that growing signs of a slowdown in economic activity in the Euro area will force the European Central Bank to cut interest rates at some point this year. Read Today's Key Issues and The Risk Today
Resistance and Support:EURUSD GBPUSD USDJPY USDCHF
1.6200 T 2.0447 S 111.92 K 1.1191 K
1.6000 K 2.0100 P 110.10 T 1.0625 T
1.5528 M 1.9800 S 105.70 M 1.0582 M
1.5420 1.9410 105.05 1.0565
1.5285 M 1.9391 M 103.39 M 1.0390 M
1.5000 K 1.9337 S 100.00 P 1.0200 S
1.4500 P 1.9105 K 95.74 K 0.9637 K
S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot
Quick access to our 5 previous newsletters:
Dollar rose on Monday on Oil price dip and unexpected strong...
Dollar fell after BoE and ECB left rates unchanged
Dollar rose with better-than-expected data ahead of Bank of...
ECB focus on inflation as Oil surge to fresh record high $...
Dollar fell as oil prices hit record high and worries for more...