The document provides a daily forex report and analysis from Epic Research dated May 10th, 2013. It includes analysis of currency pairs and indices, trading tips, and a calendar of upcoming economic data releases and events. The report indicates they remain short on the GBPUSD currency pair heading into the Bank of England's monetary policy announcement and rate decision.

1. DAILY I FOREX REPORT
10th
MAY 2013
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 US Dollar Adrift As S&P 500
Rally Continues To Power
Ahead
 AUD/USD Reverses After
Jobs Data, GBP/USD
Readies For BoE
 ECB Cuts its Euro-Zone
Growth Forecast,
Attributes Rate Cut to
Inflation
British Pound Short Trade Held into BOE
Rate Decision
The monetary policy announcement from the Bank of
England headlines the economic calendar in
European trading hours. Mervyn King and company
are forecast to the size of the asset-purchase program
unchanged at 375 billion. UK economic news-flow has
cautiously improved relative to economists’
expectations since April’s sit-down of the rate-setting
MPC committee. Furthermore the Bank extended its
Funding for Lending (FLS) scheme late last month,
limiting the scope for further action in the near term. A
status-quo result seems firmly entrenched in
investors’ baseline outlook however, meaning such an
outcome unlikely to yield a dramatic response from
the British Pound. With that in mind, we remain short
GBPUSD.
TRADING TIPS
 BUY EURUSD ABOVE
1.3155 tgs 1.3175/1.3195
sl 1.3125
 BUY USDJPY ABOVE 98.70
tgt 98.90/99.10 SL 98.40
 SELL GBPUSD BELOW
1.5560 Tgt 1.5540/1.5520
SL 1.5590
HEADLINES

3.  HOURLY EURUSD CHART

HOURLY EURUSD CHART
ANALYSIS
OPEN: 1.3144 EURUSD LOOKS UPWARD
HIGH: 1.3157 TREND: BULLISH
LOW: 1.3141 STRATEGY: BUY ON DIPS
CLOSE: 1.3153 MACD =>.0004(BULLISH SIGNAL)
RSI => 52(BULLISH SIGNAL)

4. HOURLY USDJPY CHART
ANALYSIS
OPEN: 98.69 USDJPY LOOKS UPWARDS
HIGH: 98.69 TREND: BULLISH
LOW: 98.66 STRATEGY: BUY ON DIPS
CLOSE: 98.68 MACD =>.01(BULLISH SIGNAL)
RSI => 45(BULLISH SIGNAL)
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5. HOURLY GBPUSD CHART
ANALYSIS
OPEN: 1.5567 GBPUSD LOOKS DOWNWARD
HIGH: 1.5568 TREND: BEARISH
LOW: 1.5564 STRATEGY: SELL ON RISE
CLOSE: 1.5568 MACD =>.0001(BEARISH SIGNAL)
RSI => 38(BEARISH SIGNAL)

6. HOURLY EURGBP CHART
ANALYSIS
OPEN: 00.8443 EURGBP LOOKS UPWARDS
HIGH: 00.8445 TREND: BULLISH
LOW: 00.8442 STRATEGY: BUY ON DIPS
CLOSE: 00.8443 MACD =>.0004(BULLISH SIGNAL)
RSI => 32(BULLISH SIGNAL)
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7. HOURLY USD INDEX CHART
ANALYSIS
OPEN: 81.8760 USDINDEX LOOKS UPWARDS
HIGH: 81.9590 TREND: BULLISH
LOW: 81.8610 STRATEGY: BUY ON DIPS
CLOSE: 81.9050 MACD =>.0643(BULLISH SIGNAL)
RSI => 42(BULLISH SIGNAL)
ECONOMIC CALLENDER

8. Date Time Currency Event Importance Actual Forecast Previous Notes
Sun
May 5
13:30
USD Fed's Pianalto
Gives Commencement
Speech in Ohio
Low
Mon
May 6
00:23
CNY Leading Index
(MAR)
Medium 99.38 99.98
00:30
AUD TD Securities
Inflation (YoY) (APR)
Medium 2.1% 2.1%
00:30
AUD TD Securities
Inflation (MoM) (APR)
Low 0.3% 0.2%
01:30
AUD Retail Sales Ex
Inflation(QoQ) (1Q)
Medium 2.2% 1.7% 0.1%
01:30
AUD Retail Sales s.a.
(MoM) (MAR)
Medium -0.4% 0.1% 1.3%
01:30
AUD ANZ Job
Advertisements (MoM)
(APR)
Low -1.3% -0.4%
01:45
CNY HSBC Services
PMI (APR)
Medium 51.1 54.3
07:45
EUR Italian Purchasing
Manager Index
Services (APR)
Low 47.0 45.9 45.5
07:50
EUR French
Purchasing Manager
Index Services (APR F)
Low 44.3 44.1 44.1
07:55
EUR German
Purchasing Manager
Index Services (APR F)
Medium 49.6 49.2 49.2
08:00
EUR Euro-Zone
Purchasing Manager
Index Composite (APR
F)
Medium 46.9 46.6 46.5
08:00
EUR Euro-Zone
Purchasing Manager
Index Services (APR F)
Medium 47.0 46.6 46.6
08:30
EUR Euro-Zone Sentix
Investor Confidence
(MAY)
Medium -15.6 -15.2 -17.3
09:00
EUR Euro-Zone Retail
Sales (YoY) (MAR)
Medium -2.4% -2.2% -1.7%
09:00
EUR Euro-Zone Retail
Sales (MoM) (MAR)
Low -0.1% -0.1% -0.2%
09:00
EUR German FinMin
Schaeuble Speaks on
European Integration
Low
12:30
CAD Building Permits
(MoM) (MAR)
Medium 1.0% 1.7%
14:00
CAD Ivey Purchasing
Managers Index s.a.
(APR)
Medium 58.0 61.6
22:45
NZD Average Hourly
Earnings (QoQ) (1Q)
Medium 1.0% -0.4%
22:45
NZD Labor Cost
Private Sector (QoQ)
(1Q)
Low 0.5% 0.6%

9. 22:45
NZD Private Wages ex
Overtime (QoQ) (1Q)
Low 0.5% 0.5%
23:01
GBP BRC Shop Price
Index (YoY) (APR)
Low 1.4%
23:01
GBP Lloyds
Employment
Confidence (APR)
Low -45
23:30
AUD AiG Performance
of Construction Index
(APR)
Medium 39
Tue
May 7
01:30
AUD House Price Index
(QoQ) (1Q)
Medium 1.8% 1.6%
01:30
AUD House Price Index
(YoY) (1Q)
Medium 4.0% 2.1%
01:30
AUD Trade Balance
(Australian dollar)
(MAR)
Medium 0M -178M
04:30
LIVE
AUD Reserve Bank of
Australia Rate Decision
(MAY 7)
High 3.00% 3.00%
05:45
CHF SECO Consumer
Confidence (APR)
Medium -2 -6
05:45
CHF Unemployment
Rate (APR)
Medium 3.1% 3.2%
05:45
CHF Unemployment
Rate s.a. (APR)
Medium 3.1% 3.1%
06:30
AUD Foreign Reserves
(Australian dollar)
(APR)
Low A$48.7B
07:00
CHF Foreign Currency
Reserves (APR)
Low 435.0B 438.3B
10:00
EUR German Factory
Orders n.s.a. (YoY)
(MAR)
Medium -2.9% 0.0%
10:00
EUR German Factory
Orders s.a. (MoM)
(MAR)
Low -0.5% 2.3%
14:00
USD IBD/TIPP
Economic Optimism
(MAY)
Low 47.3 46.2
14:00
USD JOLTs Job
Openings (MAR)
Low 3925
19:00
USD Consumer Credit
(MAR)
Medium $16.000B $18.139B
23:01
GBP BRC Sales Like-
For-Like (YoY) (APR)
Low 1.9% 1.9%
Wed
May 8
04:00
CNY Trade Balance
(USD) (APR)
Medium $15.50B -$0.88B
04:00
CNY Exports (YoY)
(APR)
Low 10.0% 10.0%
04:00
CNY Imports (YoY)
(APR)
Low 13.0% 14.1%

10. 04:00
GBP Halifax House
Price (3MoY) (APR)
Low 1.6% 1.1%
04:00
GBP Halifax Plc House
Prices s.a. (MoM)
(APR)
Low 0.2% 0.2%
04:00
GBP New Car
Registrations (YoY)
(APR)
Low 5.9%
07:15
CHF CPI - EU
Harmonised (YoY)
(APR)
Medium -0.3%
07:15
CHF Consumer Price
Index (YoY) (APR)
Medium -0.5% -0.6%
07:15
CHF CPI - EU
Harmonised (MoM)
(APR)
Low 0.5%
07:15
CHF Consumer Price
Index (MoM) (APR)
Low 0.1% 0.2%
10:00
EUR German Industrial
Production n.s.a. and
w.d.a. (YoY) (MAR)
Medium -3.8% -1.8%
10:00
EUR German Industrial
Production s.a. (MoM)
(MAR)
Low -0.1% 0.5%
11:00
USD MBA Mortgage
Applications (MAY 3)
Low 1.8%
12:15
CAD Housing Starts
(APR)
Medium 175.0K 184.0K
12:30
USD Fed's Stein
Speaks at Chicago Fed
Conference
Low
14:30
USD DOE Cushing OK
Crude Inventory (MAY
3)
Low -1382K
14:30
USD DOE U.S. Crude
Oil Inventories (MAY 3)
Low 6696K
14:30
USD DOE U.S.
Distillate Inventory
(MAY 3)
Low 474K
14:30
USD DOE U.S.
Gasoline Inventories
(MAY 3)
Low -1818K
22:45
NZD Unemployment
Rate (1Q)
High 6.8% 6.9%
22:45
NZD Employment
Change (QoQ) (1Q)
Medium 1.0% -1.0%
22:45
NZD Employment
Change (YoY) (1Q)
Medium -0.7% -1.4%
22:45
NZD Participation Rate
(QoQ) (1Q)
Low 67.9% 67.2%
23:50
JPY Official Reserve
Assets (APR)
Low $1254.4B
Thu
May 9
00:00
NZD QV House Prices
(YoY) (APR)
Low 6.5%

11. 01:30
LIVE
AUD Employment
Change (APR)
High 11.0K -36.1K
01:30
LIVE
AUD Unemployment
Rate (APR)
High 5.6% 5.6%
01:30
CNY Consumer Price
Index (YoY) (APR)
High 2.3% 2.1%
01:30
AUD Full Time
Employment Change
(APR)
Medium -7.4K
01:30
CNY Producer Price
Index (YoY) (APR)
Medium -2.3% -1.9%
01:30
AUD Part Time
Employment Change
(APR)
Low -28.7K
01:30
AUD Participation Rate
(APR)
Low 65.1% 65.1%
02:00
JPY Tokyo Avg Office
Vacancies (APR)
Low 8.56%
05:00
JPY Leading Index
(MAR P)
Medium 97.7 97.6
05:00
JPY Coincident Index
(MAR P)
Low 93.2 92.4
08:00
EUR ECB Publishes
Monthly Report
High
08:30
GBP Industrial
Production (YoY)
(MAR)
Medium -1.6% -2.2%
08:30
GBP Manufacturing
Production (YoY)
(MAR)
Medium -2.0% -1.4%
08:30
GBP Industrial
Production (MoM)
(MAR)
Low 0.2% 1.0%
08:30
GBP Manufacturing
Production (MoM)
(MAR)
Low 0.3% 0.8%
11:00
GBP BOE Asset
Purchase Target (MAY)
High 375B 375B
11:00
GBP Bank of England
Rate Decision (MAY 9)
High 0.50% 0.50%
12:00
USD Fed's Lacker
Speaks on Financial
Stability in New York
Low
12:30
CAD New Housing
Price Index (YoY)
(MAR)
Medium 2.1% 2.1%
12:30
USD Initial Jobless
Claims (MAY 4)
Medium 335K 324K
12:30
CAD New Housing
Price Index (MoM)
(MAR)
Low 0.1% 0.2%
12:30
USD Continuing Claims
(APR 27)
Low 3018K 3019K

12. 14:00
GBP NIESR Gross
Domestic Product
Estimate (APR)
High 0.10%
14:00
USD Wholesale
Inventories (MAR)
Medium 0.4% -0.3%
14:00
USD Wholesale Sales
(MoM) (MAR)
Low 0.1% 1.7%
14:30
USD EIA Natural Gas
Storage Change (MAY
3)
Low 43
17:15
USD Fed's Plosser
Speaks on Monetary
Policy in New York
Low
22:45
NZD NZ Card
Spending - Retail
(MoM) (APR)
Medium 0.5% -0.5%
22:45
NZD NZ Card
Spending (MoM) (APR)
Medium -1.2%
23:50
JPY Bank Lending incl
Trusts (YoY) (APR)
Medium
23:50
JPY Trade Balance -
BOP Basis (Yen)
(MAR)
Medium -¥274.0B -¥677.0B
23:50
JPY Adjusted Current
Account Total (Yen)
(MAR)
Low ¥480.4B -¥0.1B
23:50
JPY Bank Lending
Banks ex-Trust (APR)
Low 1.9%
23:50
JPY Current Account
Balance (YoY) (MAR)
Low -5.7% -47.0%
23:50
JPY Current Account
Total (Yen) (MAR)
Low ¥1216.3B ¥637.4B
23:50
JPY Foreign Buying
Japan Bonds (Yen)
(MAY 3)
Low
23:50
JPY Foreign Buying
Japan Stocks (Yen)
(MAY 3)
Low
23:50
JPY Japan Buying
Foreign Bonds (Yen)
(MAY 3)
Low
23:50
JPY Japan Buying
Foreign Stocks (Yen)
(MAY 3)
Low
Fri
May 10
GBP G7 Finance
Ministers, Central Bank
Chiefs, Meet in UK
High
04:00
CNY New Yuan Loans
(APR)
High 767.5B 1060.0B
04:00
CNY Aggregate
Financing (APR)
Low 1480.0B 2544.3B
04:00
CNY Money Supply -
M0 (YoY) (APR)
Low 12.0% 12.4%
04:00
CNY Money Supply -
M1 (YoY) (APR)
Low 11.3% 11.9%

13. 04:00
CNY Money Supply -
M2 (YoY) (APR)
Low 15.5% 15.7%
04:30
JPY Bankruptcies
(YoY) (APR)
Medium -20.0%
05:00
JPY Eco Watchers
Survey: Outlook (APR)
Medium 57.5
05:00
JPY Eco Watchers
Survey: Current (APR)
Low 57.3
06:00
EUR German Trade
Balance (euros) (MAR)
Medium 17.5B 16.8B
06:00
EUR German Current
Account (euros) (MAR)
Low 19.5B 16.0B
06:00
EUR German Exports
s.a. (MoM) (MAR)
Low 0.5% -1.5%
06:00
EUR German Imports
s.a. (MoM) (MAR)
Low 1.5% -3.9%
08:30
GBP Construction
Output (YoY) (MAR)
Medium -6.6% -7.0%
08:30
GBP Visible Trade
Balance (Pounds)
(MAR)
Medium -£9000 -£9416
08:30
GBP Construction
Output (MoM) (MAR)
Low 15.0% 5.5%
08:30
GBP Total Trade
Balance (Pounds)
(MAR)
Low -£3100 -£3642
08:30
GBP Trade Balance
Non EU (Pounds)
(MAR)
Low -£4000 -£4276
12:25
USD Fed's Evans
Speaks at Chicago Fed
Conference
Low
12:30
LIVE
CAD Net Change in
Employment (APR)
High 15.0K -54.5K
12:30
LIVE
CAD Unemployment
Rate (APR)
High 7.20% 7.20%
12:30
Full Time Employment
Change (APR)
Medium -54.0K
12:30
Part Time Employment
Change (APR)
Low -0.4K
12:30
Participation Rate
(APR)
Low 66.7 66.6
13:30
Fed's Bernanke Speaks
at Chicago Fed
Conference
Medium
18:00
USD Monthly Budget
Statement (APR)
Medium $106.0B
18:00
Fed's George Speaks
on the Economy in
Wyoming
Low

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