1. DAILY I FOREX REPORT
17th
MAY 2013
WWW.EPICRESEARCH.CO +91 7316642300

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 US Dollar Rally Unfazed by
a Japan GDP Beat
 Overnight Euro Libor at
0.024%, overnight Sterling
Libor at 0.483%, according
to BBA.
 Three Year Inflation Low
Fails to Move Euro
The Euro-zone inflation rate was confirmed at
a three year low in April, according to a final
estimate by Eurostat. The consumer price
index was reported at 1.2% higher than April
2012, unchanged from a previous estimate and
down from 1.7% inflation rate in March. Euro-
zone consumer prices fell 0.1% in March on a
monthly basis.
The Euro-zone trade balance was reported at a
record high 18.7 billion Euros in March
(seasonally adjusted), beating expectations for
11.5 billion Euros and up from a revised 12.7
billion Euros in February.
The Euro-zone inflation rate is well below the
ECB’s 2% inflation target, and therefore allows
the central bank to remain accommodative.
The ECB cut the interest rate by 25 basis
points to 0.50% in the May meeting. Therefore,
a lower than expected inflation rate may be
Euro negative.
TRADING TIPS
 SELL EURUSD BELOW
1.2870 TGT 1.2850/1.2830
SL 1.2900
 BUY USDJPY ABOVE 102.60
TGT 102.80/103.00 SL
102.30
 SELL GBPUSD BELOW
1.5230 TGT 1.5210/1.5190
SL 1.5260
HEADLINES

3.  HOURLY EURUSD CHARTHOURLY EURUSD CHART
ANALYSIS
OPEN: 1.2872 EURUSD LOOKS DOWNWARD
HIGH: 1.2878 TREND: BEARISH
LOW: 1.2872 STRATEGY: SELL ON RISE
CLOSE: 1.2873 MACD =>-.0010(BEARISHSIGNAL)
RSI => 41(BEARISH SIGNAL)

4. HOURLY USDJPY CHART
ANALYSIS
OPEN: 102.58 USDJPY LOOKS UPWARD
HIGH: 102.59 TREND: BULLISH
LOW: 102.53 STRATEGY: BUY ON DIP
CLOSE: 102.54 MACD =>.07(BULLISH SIGNAL)
RSI => 63(BULLISHSIGNAL)

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HOURLY GBPUSD CHART
ANALYSIS
OPEN: 1.5229 GBPUSD LOOKS DOWNWARD
HIGH: 1.5234 TREND: BEARISH
LOW: 1.5226 STRATEGY: SELL ON RISE
CLOSE: 1.5226 MACD =>-.0005(BEARISH SIGNAL)
RSI => 43.0383(BEARISH SIGNAL)

6. HOURLY EURGBP CHART
ANALYSIS
OPEN: 00.8452 EURGBP LOOKS UPWARD
HIGH: 00.8454 TREND: BULLISH
LOW: 00.8451 STRATEGY: BUY ON DIPS
CLOSE: 00.8453 MACD =>-.0004(BULLISH SIGNAL)
RSI => 48.5521(BULLISH SIGNAL)

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HOURLY USD INDEX CHART
ANALYSIS
OPEN: 83.9350 USDINDEX LOOKS UPWARD
HIGH: 83.9390 TREND: BULLISH
LOW: 83.9390 STRATEGY: BUY ON DIP
CLOSE: 83.8880 MACD =>-.0440(BULLISHSIGNAL)
RSI => 72.1996(BULLISH SIGNAL)

8. Date Time Currency Event Importance Actual Forecast Previous
Sun
May 12
22:14
NZD REINZ House
Sales (YoY) (APR)
Medium 25.2% 10.9%
22:14
NZD REINZ Housing
Price Index (APR)
Low 3661.5 3631.4
22:14
NZD REINZ Housing
Price Index (MoM)
(APR)
Low 0.8% 2.4%
22:45
NZD Food Prices
(MoM) (APR)
Low 0.2% -1.3%
23:50
JPY Japan Money
Stock M2+CD (YoY)
(APR)
Low 3.3 3.1% 3.1%
23:50
JPY Japan Money
Stock M3 (YoY) (APR)
Low 2.6% 2.5% 2.5%
Mon
May 13
01:30
AUD Home Loans
(MAR)
Medium 5.2% 4.0% 2.1%
01:30
AUD NAB Business
Confidence (APR)
Medium -2 2
01:30
AUD Investment
Lending (MAR)
Low 2.1% 1.9%
01:30
AUD NAB Business
Conditions (APR)
Low -6 -7
01:30
AUD RBA Credit Card
Balances (MAR)
Low A$49.7B A$50.0B
01:30
AUD RBA Credit Card
Purchases (MAR)
Low A$20.2B A$20.2B
01:30
AUD Value of Loans
(MoM) (MAR)
Low 5.8% 1.2%
05:30
CNY Fixed Assets Inv
Excl. Rural YTD (YoY)
(APR)
Medium 20.6% 21.0% 20.9%
05:30
CNY Industrial
Production YTD (YoY)
(APR)
Medium 9.4% 9.5% 9.5%
05:30
CNY Industrial
Production (YoY)
(APR)
Medium 9.3% 9.4% 8.9%
05:30
CNY Retail Sales YTD
(YoY) (APR)
Medium 12.5% 12.6% 12.4%
05:30
CNY Retail Sales (YoY)
(APR)
Medium 12.8% 12.8% 12.6%
07:15
CHF Retail Sales
(Real) (YoY) (MAR)
Medium -0.9% 2.4%
12:30
USD Advance Retail
Sales (APR)
High -0.3% -0.4%
ECONOMIC CALLENDER

9. 12:30
USD Retail Sales Less
Autos (APR)
Medium -0.2% -0.4%
12:30
USD Retail Sales
"Control Group" (APR)
Low 0.3% -0.2%
12:30
USD Retail Sales Ex
Auto & Gas (APR)
Low 0.3% -0.1%
13:00
EUR Euro Zone
Finance Ministers Meet
in Brussels
High
14:00
USD Business
Inventories (MAR)
Medium 0.3% 0.1%
22:45
NZD Retail Sales Ex
Inflation (QoQ) (1Q)
Medium 0.8% 2.1%
23:01
GBP RICS House Price
Balance (APR)
Medium 2% -1%
23:50
JPY Domestic
Corporate Goods Price
Index (MoM) (APR)
Low 0.1% 0.1%
23:50
JPY Domestic
Corporate Goods Price
Index (YoY) (APR)
Low -0.2% -0.5%
23:50
JPY Loans & Discounts
Corp (YoY) (MAR)
Low 1.4%
Tue
May 14
CNY Actual FDI (YoY)
(APR)
Medium 6.2% 5.7%
03:00
NZD Non Resident
Bond Holdings (APR)
Low 68.3%
06:00
EUR German
Consumer Price Index -
EU Harmonised (YoY)
(APR F)
High 1.1% 1.1%
06:00
EUR German
Consumer Price Index
(YoY) (APR F)
High 1.2% 1.2%
06:00
EUR German
Consumer Price Index -
EU Harmonised (MoM)
(APR F)
Medium -0.5% -0.5%
06:00
EUR German
Consumer Price Index
(MoM) (APR F)
Medium -0.5% -0.5%
06:00
JPY Machine Tool
Orders (YoY) (APR P)
Medium -21.5%
06:00
EUR German
Wholesale Price Index
(MoM) (APR)
Low -0.2%
06:00
EUR German
Wholesale Price Index
(YoY) (APR)
Low 0.3%
06:00
USD Fed's Plosser
Speaks on Monetary
Policy in Stockholm
Low
08:30
EUR Italian General
Government Debt
(MAR)
Medium 2017.6B

10. 09:00
EUR German ZEW
Survey (Economic
Sentiment) (MAY)
High 40 36.3
09:00
EUR Euro-Zone
Industrial Production
w.d.a. (YoY) (MAR)
Medium -2.1% -3.1%
09:00
EUR Euro-Zone ZEW
Survey (Economic
Sentiment) (MAY)
Medium 24.9
09:00
EUR German ZEW
Survey (Current
Situation) (MAY)
Medium 9.8 9.2
09:00
EUR Euro-Zone
Industrial Production
s.a. (MoM) (MAR)
Low 0.5% 0.4%
11:30
USD NFIB Small
Business Optimism
(APR)
Low 89.8 89.5
12:30
USD Import Price Index
(MoM) (APR)
Low -0.5% -0.5%
12:30
USD Import Price Index
(YoY) (APR)
Low -2.7%
13:00
CAD Teranet/National
Bank HPI (MoM) (APR)
Low 0.4%
13:00
CAD Teranet/National
Bank HPI (YoY) (APR)
Low 2.6%
13:00
CAD Teranet/National
Bank HP Index (APR)
Low 153.31
15:00
USD New York Fed
Releases Quarterly
Household Debt Report
Medium
23:50
JPY Tertiary Industry
Index (MoM) (MAR)
Medium -0.7% 1.1%
Wed
May 15
01:30
AUD New Motor
Vehicle Sales (MoM)
(APR)
Low -0.6%
01:30
AUD New Motor
Vehicle Sales (YoY)
(APR)
Low 4.5%
01:30
AUD Wage Cost Index
(QoQ) (1Q)
Low 0.8% 0.8%
01:30
AUD Wage Cost Index
(YoY) (1Q)
Low 3.3% 3.4%
05:00
JPY Consumer
Confidence (APR)
Medium 45.5 44.8
05:30
EUR French Gross
Domestic Product
(YoY) (1Q P)
Medium -0.4% -0.3%
05:30
EUR French Gross
Domestic Product
(QoQ) (1Q P)
Low -0.1% -0.3%
06:00
EUR German Gross
Domestic Product
n.s.a. (YoY) (1Q P)
High 0.2% 0.1%

11. 06:00
EUR German Gross
Domestic Product
w.d.a. (YoY) (1Q P)
High 0.2% 0.4%
06:00
EUR German Gross
Domestic Product s.a.
(QoQ) (1Q P)
Medium 0.3% -0.6%
07:15
CHF Producer & Import
Prices (MoM) (APR)
Low -0.2% 0.0%
07:15
CHF Producer & Import
Prices (YoY) (APR)
Low -0.3% -0.3%
08:00
EUR Italian Gross
Domestic Product s.a.
and w.d.a. (YoY) (1Q
P)
Medium -2.3% -2.8%
08:00
EUR Italian Gross
Domestic Product s.a.
and w.d.a. (QoQ) (1Q
P)
Low -0.4% -0.9%
08:30
GBP Jobless Claims
Change (APR)
High -3.0K -7.0K
08:30
GBP Average Weekly
Earnings (3M/YoY)
(MAR)
Medium 0.7% 0.8%
08:30
GBP Claimant Count
Rate (APR)
Medium 4.6% 4.6%
08:30
GBP Employment
Change (3M/3M)
(MAR)
Medium -20K -2K
08:30
GBP ILO
Unemployment Rate
(3M) (MAR)
Medium 7.9% 7.9%
08:30
GBP Weekly Earnings
exBonus (3M/YoY)
(MAR)
Low 0.8% 1.0%
09:00
EUR Euro-Zone Gross
Domestic Product s.a.
(YoY) (1Q A)
High -0.9% -0.9%
09:00
CHF ZEW Survey
(Expectations) (MAY)
Medium 20
09:00
EUR Euro-Zone Gross
Domestic Product s.a.
(QoQ) (1Q A)
Medium -0.1% -0.6%
09:30
GBP Bank of England
Inflation Report
High
11:00
USD MBA Mortgage
Applications (MAY 10)
Low 7.0%
12:30
USD Producer Price
Index Ex Food &
Energy (YoY) (APR)
Medium 1.7% 1.7%
12:30
USD Producer Price
Index (YoY) (APR)
Medium 0.8% 1.1%
12:30
CAD Manufacturing
Shipments (MoM)
(MAR)
Low 0.5% 2.6%
12:30
USD Empire
Manufacturing (MAY)
Low 4 3.05

12. 12:30
USD Producer Price
Index Ex Food &
Energy (MoM) (APR)
Low 0.1% 0.2%
12:30
USD Producer Price
Index (MoM) (APR)
Low -0.6% -0.6%
13:00
CAD Existing Home
Sales (MoM) (APR)
Medium 2.40%
13:00
USD Net Long-term
TIC Flows (MAR)
Medium -$17.8B
13:00
USD Total Net TIC
Flows (MAR)
Low $53.6B
13:15
USD Industrial
Production (APR)
Medium -0.1% 0.4%
13:15
USD Manufacturing
(SIC) Production (APR)
Medium 0.0% -0.1%
13:15
USD Capacity
Utilization (APR)
Low 78.3% 78.5%
14:00
USD NAHB Housing
Market Index (MAY)
Low 43 42
14:30
USD DOE Cushing OK
Crude Inventory (MAY
10)
Low -652K
14:30
USD DOE U.S. Crude
Oil Inventories (MAY
10)
Low 230K
14:30
USD DOE U.S.
Distillate Inventory
(MAY 10)
Low 1812K
14:30
USD DOE U.S.
Gasoline Inventories
(MAY 10)
Low -910K
22:30
NZD Business NZ
Performance of
Manufacturing Index
(APR)
Medium 53.4
23:50
JPY Gross Domestic
Product Annualized
(1Q P)
High 2.7% 0.2%
23:50
JPY Gross Domestic
Product (QoQ) (1Q P)
High 0.7% 0.0%
23:50
JPY Nominal Gross
Domestic Product
(QoQ) (1Q P)
High 0.5% -0.3%
23:50
JPY Foreign Buying
Japan Bonds (Yen)
(MAY 10)
Low ¥267.0B
23:50
JPY Foreign Buying
Japan Stocks (Yen)
(MAY 10)
Low -¥26.2B
23:50
JPY Gross Domestic
Product Deflator (YoY)
(1Q P)
Low -0.9% -0.7%
23:50
JPY Japan Buying
Foreign Bonds (Yen)
(MAY 10)
Low ¥309.9B

13. 23:50
JPY Japan Buying
Foreign Stocks (Yen)
(MAY 10)
Low ¥28.0B
Thu
May 16
01:30
AUD RBA FX
Transactions "Other"
(APR)
Low 71M
01:30
AUD RBA Foreign
Exchange Transaction
(Australian dollar)
(APR)
Low 577M
03:30
AUD RBA FX
Transactions
"Government" (APR)
Low
04:00
JPY Tokyo
Condominium Sales
(YoY) (APR)
Low 48.4%
04:30
JPY Industrial
Production (YoY) (MAR
F)
Medium -7.3%
04:30
JPY Capacity
Utilization (MoM) (MAR
F)
Low 0.7%
04:30
JPY Industrial
Production (MoM)
(MAR F)
Low 0.2%
07:45
USD Fed's Plosser
Speaks on Monetary
Policy in Milan
Low
09:00
EUR Euro-Zone
Consumer Price Index -
Core (YoY) (APR F)
High 1.0% 1.0%
09:00
EUR Euro-Zone
Consumer Price Index
(YoY) (APR F)
High 1.2% 1.2%
09:00
EUR Euro-Zone
Consumer Price Index
(MoM) (APR)
Medium -0.1% 1.2%
09:00
EUR Euro-Zone Trade
Balance (euros) (MAR)
Low 10.4B
09:00
EUR Euro-Zone Trade
Balance s.a. (euros)
(MAR)
Low 12.0B 12.0B
11:45
USD Fed's Rosengren
Speaks in Milan
Low
12:30
USD Consumer Price
Index Ex Food &
Energy (YoY) (APR)
High 1.8% 1.9%
12:30
USD Consumer Price
Index (YoY) (APR)
High 1.3% 1.5%
12:30
USD Building Permits
(MoM) (APR)
Medium 3.6% -3.9%
12:30
USD Consumer Price
Index Ex Food &
Energy (MoM) (APR)
Medium 0.2% 0.1%
12:30
USD Consumer Price
Index (MoM) (APR)
Medium -0.3% -0.2%

14. 12:30
USD Housing Starts
(MoM) (APR)
Medium -5.4% 7.0%
12:30
USD Initial Jobless
Claims (MAY 11)
Medium 330K 323K
12:30
CAD International
Securities Transactions
(Canadian dollar)
(MAR)
Low -6.31B
12:30
USD Building Permits
(APR)
Low 940K 902K
12:30
USD Consumer Price
Index Core Index s.a.
(APR)
Low 232.758
12:30
USD Consumer Price
Index n.s.a. (APR)
Low 232.7 232.773
12:30
USD Continuing Claims
(MAY 4)
Low 3003K 3005K
12:30
USD Housing Starts
(APR)
Low 980K 1036K
13:00
USD Fed's Fisher
Speaks at NABE
Industry Conference in
Houston
Low
14:00
USD Philadelphia Fed.
(MAY)
Medium 2.3 1.3
14:30
USD EIA Natural Gas
Storage Change (MAY
10)
Low 88
19:05
USD Fed's Williams
Speaks on Monetary
Policy in Oregon
Low
22:00
NZD ANZ Job
Advertisements (MoM)
(APR)
Low 0.7%
22:45
NZD Producer Prices-
Inputs (QoQ) (1Q)
Low 0.2% -0.3%
22:45
NZD Producer Prices-
Outputs (QoQ) (1Q)
Low 0.0% -0.1%
23:50
JPY Machine Orders
(YoY) (MAR)
Medium -4.9% -11.3%
23:50
JPY Housing Loans
(YoY) (1Q)
Low 3.1%
23:50
JPY Machine Orders
(MoM) (MAR)
Low 3.3% 7.5%
Fri
May 17
USD Revisions:
Housing Starts
Low
01:00
NZD ANZ Consumer
Confidence Index
(MAY)
Low 119.2
01:00
NZD ANZ Consumer
Confidence (MoM)
(MAY)
Low 3.8%

15. 01:30
CNY China April
Property Prices
Medium
02:00
CNY Conference Board
China April Leading
Economic Index
Low
06:00
EUR EU 25 New Car
Registrations (APR)
Low -10.2%
09:00
EUR Euro-Zone
Construction Output
s.a. (MoM) (MAR)
Low -0.8%
09:00
EUR Euro-Zone
Construction Output
w.d.a. (YoY) (MAR)
Low 0.8%
12:30
CAD Bank Canada
Consumer Price Index
Core (YoY) (APR)
High 1.2% 1.4%
12:30
CAD Consumer Price
Index (YoY) (APR)
High 0.9% 1.0%
12:30
CAD Bank Canada
Consumer Price Index
Core (MoM) (APR)
Medium 0.2% 0.2%
12:30
CAD Consumer Price
Index (MoM) (APR)
Medium 0.2% 0.2%
12:30
CAD Consumer Price
Index (APR)
Low 122.9
12:30
CAD Consumer Price
Index s.a. (MoM) (APR)
Low 0.1%
12:30
CAD Core CPI s.a.
(MoM) (APR)
Low 0.2%
12:30
CAD Wholesale Sales
(MoM) (MAR)
Low 0.4% 0.0%
13:55
USD U. of Michigan
Confidence (MAY P)
Medium 77.6 76.4
14:00
USD Leading Indicators
(APR)
Medium 0.2% -0.1%
14:00
USD Revisions to
Factory Orders Report
Low
17:45
USD Fed's
Kocherlakota,
Riksbank's Ingves
Speak in Chicago
Low
Sat
May 18
15:00
USD Fed's Bernanke
Delivers
Commencement
Speech at Bard College
Low

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