A couple of
boosts to sentiment from the northern hemisphere last night helped equity
markets rally back through key levels. The US Government agreed to bail out Citigroup
last night, providing USD27 billion of capital and guaranteeing $306 billion of
their assets. US equity markets, desperate for good tidings, rose to see the
Dow above its key 8000 level; it is currently at 8290, a 3% gain. In the UK, a stimulus
package included a 2.5% cut to VAT (a similar tax to NZâ€™s GST), to which the UK and European
equity markets responded by rallying around 10%. Negative news, such as a 3.1%
fall in US existing home sales and the lowest German business climate reading since
1993, failed to dampen the short-term sentiment.
The NZD followed the
leads of the US and UK, and broke out of its 0.5300 to 0.5350 range last night,
quickly moving to a high of 0.5477. It is currently around 0.5440. News on the
local front remains negative in tone, with the rural sector expecting lower
earnings from dairy and meat this season. Todayâ€™s RBNZ inflation expectation survey
will be watched for any sign of disinflation, although we expect the number to
remain at last quarterâ€™s level of 3.0.
The AUD outpaced NZDâ€™s
move, moving from 0.6255 to 0.6507 in Europe, and is
currently sitting at 0.6485. The 0.65 level should provide some short-term resistance.
The AUD/NZD cross rate benefited from this out-performance, moving from
yesterdayâ€™s 1.1775 to a recent high, slightly above 1.19.
reduction in global risk aversion helped EUR rally in
non-stop fashion throughout the European session, from around 1.26 to 1.29. The
poor German IFO reading, though, may see a lack of follow through in this
currency, given there is now more pressure on the ECB to cut rates
aggressively. The UK stimulus
GBP from around
1.49 to above 1.5150, before retreating slightly to around 1.51.
currently acts as a risk aversion indicator, moved in converse fashion, with the
USD/JPY rate moving from around 95.50 to just under 97.
existing home sales fell 3.1% in October, following a downwardly-revised 4.7%
gain in September. Monthly sales have held to a remarkably narrow range over the
last year, as prices have borne the brunt of the correction â€“ the median sale
price is down 11.3% on a year ago, and down more than 30% in some boom cities.
There is increasing evidence that existing home sales are cannibalising new
home sales (to be published on Wednesday night).
industrial orders fell 3.9% in September, following a 1.5% drop in August.
Orders for transport equipment declined 3.8%, reflecting the weakness in the
German Ifo survey fell heavily again in November, reaching a
16-year low of 85.8. The expectations component dropped to 77.6 from 81.4,
despite ECB rate cuts and official efforts to prop up the banking system since
the previous survey. The survey showed an erosion in confidence across the
board, with the retail sector the most pessimistic.
Pre-Budget Report detailed a fiscal stimulus package worth Â£25bn over
the next two years, equivalent to 1.1% of GDP. The Bank of England cited the potential
for a significant amount of stimulus from this report as a reason for cutting the
policy rate by â€˜onlyâ€™ 150bps earlier this month. UK Chancellor
Darling said that he expects the UK economy to
shrink by 0.75-1.25% next year.
new-found optimism in major equity markets may or may not be sustained beyond a
few days. Regardless, NZDâ€™s 54 cent level is a key one, and last nightâ€™s price
action must be respected. For today, 54 cents is the floor, with a ceiling at
55.5 cents. Equity markets will continue to lead currencies, and the Dow must
remain above 8000 over the next few days to provide any confidence the NZD has
found a medium-term bottom.
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."
Actionable trading levels delivered to YOUR charts in real-time.
Mon 19 Mar 2018 Tue 20 Mar 2018 AA 9:30 GB- CPI A 10:00 DE- ZEW Survey Wed 21 Mar 2018 AA 03:00 AU- Employment AA 9:30 GB- Employment A 12:30 US- Current Account AA 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude A A18:00 US- Fed Rate Decision A 21:00 NZ- RBNZ Rate Decision Thu 22 Mar 2018 AA All Day flash PMIs AA 9:30 GB- Retail Sales AA 12:00 GB- Bank Of England Decision A 13:30 US- Weekly Jobless Fri 23 Mar 2018 AA 12:30 CA- CPI/Retail Sales A 12:30 US- Durable Goods A 14:00 US- New Homes Sales
John M. Bland, MBA co-founding Partner, Global-View.com
Veteran 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.
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.