User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday December 13, 2007 - 17:22:41 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (13 December 2007)

The euro depreciated sharply vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4575 level and was capped around the $1.4735 level.  Stops were reached below the $1.4605 level, representing the 23.6% retracement of the move from $1.4015 to $1.4965. Technically, today’s intraday low was right around the 76.4% retracement of the move from $1.4525 to $1.4750.   Many data were released in the U.S. today. First, November retail sales surged 1.2% m/m with the ex-autos and gasoline component up 1.1%, exceeding expectations. These data are consistent with anecdotal evidence of a relatively robust U.S. holiday shopping season.  Second, November headline producer prices escalated to a 34-year high at 3.2% with core inflation up 0.4%.  On Tuesday, the Fed announced that inflation pressures seem to be declining thus today’s report is likely to be problematic for policymakers, especially if wholesale prices pressures impact real price pressures. Third, weekly initial jobless claims fell 7,000 to 333,000 while continuing jobless claims rose 38,000 to 2.64 million.  Fourth, October business inventories were up 0.1% with sales growth at 0.7%.  November CPI data will be released in the U.S. tomorrow.  In eurozone news, EMU-13 labour costs were up 2.5% q/q, evidence of wage growth restraint despite strong labour markets.  European Central Bank member Quaden indicated the ECB is “seriously concerned and permanently alert” on the inflation front. Euro bids are cited around the US$ 1.4490 level.

¥/ CNY

The yen depreciated appreciated slightly vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥111.40 level and was capped around the ¥112.45 level.  Technically, today’s intraday high was just below the 61.8% retracement of the move from ¥115.90 to ¥107.20.  Traders await the release of tonight’s quarterly Bank of Japan tankan survey with deteriorations in business sentiment and capital spending plans expected.  Data released in Japan overnight saw Tokyo-area condominium sales off 43.6% in November.  The Nikkei 225 stock index lost 2.48% to close at ¥15,536.52.  Dollar bids are cited around the ¥110.70 level.  The euro came off vis-à-vis the yen as the single currency tested bids around the ¥163.65 level and was capped around the ¥165.10 level. The British pound and Swiss franc depreciated vis-à-vis the yen as the crosses tested bids around the ¥227.45 and ¥98.10 levels, respectively.  The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 7.3692 in the over-the-counter market, down from CNY 7.3721 and its lowest closing low since the yuan’s July 2005 revaluation.  Data released in China overnight saw industrial value-added output up 18.5% y/y between January and November while actual foreign direct investment was up 13.66% y/y during the same period.  It was also reported that November property prices were up 10.5% y/y in 70 major cities.  There has not been much progress at U.S.-Chinese talks in China regarding yuan liberalization this week.



The British pound weakened vis-à-vis the U.S. dollar today as cable tested offers around the US$ 2.0340 level and was capped around the $2.0480 level.  Technically, today’s intraday low was right around the 23.6% retracement of the move from $2.0830 to $2.0180.    Data released in the U.K. today saw industrial output fall to a 23-month low in December at +3. Also, the RICS November house price balance fell to -40.6%, the fourth consecutive monthly decline.  Additionally, U.K. construction orders were off 5% in the three months to October.   Cable bids are cited around the US$ 2.0175 level.  The euro fell vis-à-vis the British pound as the single currency tested bids around the ₤0.7155 level and was capped around the ₤0.7210 level.

CHF

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1450 level and was supported around the CHF 1.1295 level.  The pair escalated to its strongest level since 6 November after Swiss National Bank decided to keep interest rates unchanged for the first time in two years with the three-month Libor rate unchanged at 2.75%. SNB President Roth reported “the outlook for inflation has improved if we disregard the temporary rise that will occur over the next few months as a result of the rise in oil prices.” SNB sees inflation around 1.7% in 2008 and 1.5% in 2009.  Roth also indicated a “substantial slowdown” in economic activity would “necessitate a change of direction for us.” Dollar offers are cited around the CHF 1.1495 level.  The euro and British pound moved higher vis-à-vis the Swiss franc as the crosses tested offers around the CHF 1.6715 and CHF 2.3335 levels, respectively.

 

Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.


  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

John M. Bland, MBA
co-founding Partner, Global-View.com EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 
Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog

Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105