to be down only 0.4%. Russia's central bank said it would switch some US treasuries into IMF SDR-denominated bonds,
hurting the USD and treasuries early in the evening. The 10 year treasury
auction saw good foreign appetite, albeit at a price commensurate with supply,
and yields rose 8bp to 3.94% (earlier touching 4.00%). The higher US yields
appeared to support the USD later in the session. The Fed's Beige Book,
reporting economic conditions remaining weak with stability noted in some
districts, had negligible market impact. Oil gained 1.7% on falling US
inventories, in turn driven by falling oil imports reported yesterday.
EUR managed modest further gains during early London to 1.4145, appearing to shrug off an FT story
on German banks, but spent the rest of the session declining to 1.3915 on the
broad-based USD rally. Fitch warned of rising risk of devaluation in Latvia, and Sweden's FSA said its banks could weather Baltic
credit risk. GBP peaked at 1.6475 around London, boosted by consensus-beating IP data, and drifted to 1.6240
thereafter. USD gained against the yen, from 97.50 to 98.45.
AUD continued higher until London, reaching 0.8135, followed by a fall to 0.7970.
NZD peaked at 0.6365, but by the NY afternoon had
fallen to 0.6235. AUD/NZD ranged sideways between 1.2750 and 1.2820,
threatening a topside break.
US trade deficit widens to $29.2bn in April. The US trade deficit widened for the second month
running, as exports fell more sharply than imports. Those declines were despite
rises in both import (mainly oil) prices and export prices, so the underlying
volumes picture was soft on both sides of the ledger, indicating ongoing
weakness both in US and trading partner demand.
Japan's April machinery orders fell 5.4%. That follows a 1.2% decline in March. There
are three key trends in the data. One, non-manufacturing demand is in a major
downtrend that will weigh on aggregate investment for a significant period.
Two, the advanced nature of inventory adjustment in manufacturing is showing up
in some consolidation in orders. Three, public sector orders spiked in April,
consistent with the government's commitment to front load its capital works
program into the first half of the fiscal year.
European industrial data for April,
with French factory output continuing to slide, down 1.4%, but the Italians
managing a modest bounce of 1.1% after very steep declines in Q1.
UK industrial production posted its first monthly
gain in April since Feb 2008.
The 0.3% rise was close to Westpac's 0.2% forecast but significantly stronger
than the consensus forecast for a modest decline in output. Excluding utilities
and mining, manufacturing posted back to back gains in March and April, further
evidence that the collapse in industrial activity might be bottoming out.
Still, IP remains very weak, the annual pace of decline being -12.3% yr. Also,
the trade deficit widened again in April to GBP7.0bn as a 0.6% rise in exports
was swamped by a 2.6% imports gain.
trade position fell back into modest deficit, at -C$0.2bn, with exports slumping 5.1% in April but imports also
down, by 1.2%. Also, Canada's house price index continued to fall at an
on-trend 0.6% pace in April.
Today's RBNZ meeting
will have a large bearing on NZD's intraday direction - a pause being bullish,
a cut being bearish - but little impact beyond. We prefer the downside scenario
today, with a test of 0.6155, but as has been the case for most of this year,
the big moves will occur in London and NY tonight, driven by global matters. We retain our longer-term
negative NZD bias, and require a break above 0.6600 to abandon that view.
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.
Tue 17 July 2018 AA 08:30 GB- Employment A 13:15 US- Industrial Production AA 14:00 US-Powell Testimony Wed 18 July 2018 AA 08:30 GB- CPI A 12:30 US- Housing Starts/Permits AA 14:00 US-Powell Testimony Thu 19 July 2018 AA 1:30 AU- Employment AA 08:30 GB- Retail Sales A 14:30 US- EIA Crude A 12:30 US- Weekly Jobless Fri 20 Jun 2018 A 12:30 CA- CPI/Retail Sales
John M. Bland, MBA co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
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.