The improvement in risk appetite seen
late in yesterdayâ€™s session extended to offshore trade, to the great benefit of
yen crosses but no clear movement in the USD. The Dow rose more than
500pts in afternoon trade, recovering from jitters after US consumer confidence
collapsed to a record low.
NZD/USD rallied as far as 0.5574 in London as risk appetite improved, then chopped around
from about 0.5480 to 0.5570 before surging above 0.56 as US equities finished
strong. AUD/USD scarcely took a backward step, as its recent excessive
punishment left it room to outperform, extending the local break through 0.6100
to above 0.6325 in NY as US equities consolidated their rally. NZD/AUD
slipped from 0.9050 to below 0.8800 in the New York afternoon.
EUR/USD was notably range-bound, 1.2455â€“1.2588 in London, mostly gyrating around 1.2500. After its spike
to a 96.13 in the London morning, USD/JPY steadied for a while in
the high 94s before US equities gave the green light for a strong rally to over
97.00. Nikkei News claimed the BoJ is preparing to cut its benchmark rate 25bp
to 0.25% on Friday.
US consumer confidence collapses from 61.4 to 38.0
in Oct. The Conference Board
index plunged to its lowest level since the survey was first conducted in 1967.
In large part the plunge was driven by deteriorating job market sentiment,
which is now weaker than at any time during the recession earlier this decade,
suggesting that upcoming jobs reports will show a sharply weaker labour market
picture. Consumersâ€™ assessment of the business environment and outlook, and
income expectations, also deteriorated sharply. It seems that the economic
armageddon that Fed chair Bernanke, Treasury Secretary Paulson and others have
been warning about, coupled with plunging stock markets, has made consumers
especially fearful about both the current situation and what lies ahead.
US Richmond Fed survey falls from â€“18 to â€“26 in Oct. The only surprise in the survey, whose
manufacturing component fell to its lowest since 1993, was that the services
and retail responses were not as weak as in September.
US S&P/CS house prices down 16.6% yr. The 1% fall in August was the steepest monthly
decline since April. It is likely that the banking freeze that took hold in
late September will be reflected in even steeper price declines in this series
in coming months.
UK CBI retail survey â€“27 in Oct. Retailers reported another very weak sales
month, though not as soft as earlier in Q3. Even so, readings at these levels
imply a much weaker retailing picture than that reported in the official
monthly retail sales report, which has lost some credibility of late.
German consumer confidence edged up from 1.8 to 1.9 in â€śNovemberâ€ť
according to the GfK survey (which was actually conducted in the first week of
October, so it will have missed the latest panic on financial markets and
increased talk of recession).
German inflation: the CPI annual rate in North Rhine-Westphalia
fell from 2.6% yr to 2.3% yr in October. That is an early clue that Euroland
inflation will dip further when the flash estimate is published for October on
The world economy is
slowing rapidly and New Zealand is exposed on three fronts - tighter credit,
weaker demand and lower commodity prices. A softer currency will be needed for
an extended period to soften the blow. The USD remains in favour through this
crisis, more by default than by merit.
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
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.
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
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
John M. Bland, MBA co-founding Partner, Global-View.com
Max McKegg’s Daily Forex Trading Forecasts
FX Trader, Max McKegg, forecasts all the Major currencies and the
Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders
in more than 30 different countries. If you are looking for a quality Forex TRADING Service, see details below.
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.
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.
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 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.
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 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.
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.
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.