User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday December 19, 2008 - 11:00:07 GMT
Global Forex Trading - www.gftforex.com

Share This Story:
| | Email

Forex Research - Euro Unwinds Rally As Volatility Massive, Liquidity Scarce

Euro Unwinds Rally As Volatility Massive, Liquidity Scarce Last Updated 12/19/2008 5:17:47 AM EST (GMT +5)

Top Stories

  • BOJ cuts to 10bp
  • Toyota may report first loss ever
  • BOJ may step up buying of JGBs
  • Lagarde - EUR vol hard oin exporters
  • Equities off mildly
  • Oil drops to $35/bbl handle
  • Gold below $850/oz as euro falls

Overnight Eco

  • JPY All Industries Activity -0.5% better than-0.8% forecast
  • GBP GfK Consumer Confidence -33 vs. -39 forecast
  • NZD Credit Card Spending -0.7%
  • JPY BoJ Rate Decision 10bp
  • EUR German PPI -1.5% vs. -1.0% called
  • GBP Revised Business Investment ______

Event Risk on Tap

  • CAD CPI market looks at -0.7%

Price Action

  • USD/JPY runs into offers at upper 8900's as equities wobble on the close
  • AUD/USD fares better than most holding 6850 for now
  • GBP/USD holds around 1.5500 as EUR/GBP loses steam
  • EUR/USD hammered accross the board as cross selling amplifies losses to 14040

As we approach the holidays the currency market has taken on all the characteristics of Florida weather – just wait a minute and it changes. After completing a spectacular parabolic  rise  yesterday, the unit reversed course and produced an almost as impressive a fall in today’s early European trade. The pair went into a nose dive dropping more than 200 points in 20 minutes as it hit a low of 1.4040 before bouncing above 1.4100.

The sharp unwind was exacerbated by the euro selling on the crosses, especially EUR/GBP which only yesterday reached the stratospheric highs of 9550 before dropping to 9350 in today’s session. The remarkable volatility has no doubt been amplified  by lack of liquidity in holiday thin markets, but the primary impetus behind today’s downside move was most likely caused by yesterday’s ECB’s announcement to cut its deposit rates in effect discouraging market players with leaving money at the central bank in their  desperate hunt for yield.

Some analysts have calculated that the sudden rise in the euro this week was equivalent to a 175bp worth of tightening, prompting EZ fiscal officials to raise concern over the volatility in the pair. However, today’s descent should ease some of those worries, assuming the EUR/USD does not stage yet another vertical rally by end of day. Given the fact that the strength in the  unit was driven strictly by yield considerations, yesterday’s ECB move may have broken the will of euro longs, and it appears that for now much of the steam has gone out of the rally.

Nevertheless, the currency markets remain the most treacherous capital markets in the world for the time being with unprecedented volatility the rule rather than the exception.  With no data of consequence in North American session to drive trade, volatility is likely to continue into Friday’s close. With euro bears having pushed the pair into the 1.4000 figure a stop run on the 1.4000 barrier now appears to be the next logical move.

FX Upcoming

Currency GMT EST Release Expected Prior
CAD 12:00 7:00 CAD CPI -0.7% -1.0%

About The Author

Schlossberg has more than 20 years experience financial trading on Wall Street. His daily currency research appears in numerous newspapers worldwide and Schlossberg serves as a regular contributor to CNBC's Squawk Box and Bloomberg radio and television. Read more >>

DISCLAIMER: This forum and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. This forum and its information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision based upon this forum or any information contained within. In addition, any projections or views of the market provided by the author may not prove to be accurate. Global Forex Trading and Boris Schlossberg will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained in this column. Global Forex Trading and Boris Schlossberg do not render investment, legal, accounting, tax or other professional advice. If such advice is sought, or other expert assistance is required, the services of a competent professional should be sought.

 

 

Open an Account Get a Free Practice Account Download DealBook® 360
RESOURCES TO HELP YOU TRADE
NEW! COMMENTARY & ANALYSIS
KATHY LIEN
BORIS SCHLOSSBERG
GLOSSARY OF FOREX TERMS
INTRODUCTORY GUIDE TO FOREX
GUIDE TO WORLD CURRENCIES
DEVELOPED COUNTRIES
EMERGING COUNTRIES
LATEST HEADLINES
FOREX ECONOMIC CALENDAR
GFT RSS NEWS FEEDS
MARKET PULSE NEWSLETTER
FOREX FORUM
CHART STUDIO® FORUM
GFT FOREX BLOG >>
SEARCH GFTFOREX.COM
REQUEST MORE INFORMATION
TERMS AND CONDITIONS
PRIVACY POLICY
IMPORTANT RISK DISCLOSURE

 

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 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



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