- US equity indices opened to the downside this morning thanks to lingering caution from Thursday's worse-than-expected non-farm payroll data. Traders bid up equities ahead of the 10amEST June ISM non-manufacturing data, but indices have dropped to session lows despite the ISM beating expectations. Note that the ISM prices paid sub index popped above 50 for the first time since last fall. The front-month NYMEX crude contract continues to make one-month lows, now down $2.50 to trade above $64. There has been little significant equity news to speak of, although it's worth noting that the FTC cleared Net App to acquire Data Domain (for $30/shr in cash and stock), while EMC upped its offer for the firm to $33.50 in cash from its prior offer of $30.
- Treasury prices have seen some selling at the long end of the curve pushing those yields higher. The long bond is back above 4.35% while the benchmark is holding 3.5%. The curve has steepened with the benchmark spread gaining traction above 255 basis points. The Fed is undertaking another coupon purchase while the Treasury is auctioning off $8B in TIPS later this afternoon.
- In currencies, the risk aversion stemming from the payroll data continued to roil FX trading, to the benefit of overall USD and JPY sentiment. During the New York session the EU's Barroso said he was unsure when the recovery might begin and warned Europe's growth potential would not be the same post crisis. Rising doubt on the global growth front has brought the fiscal health of countries and whole regions back into question. The Indian finance minister noted that its goal sustainable 9% GDP growth over the medium term would require continuing efforts to provide fiscal stimulus.
- EUR/USD is hovering around the 1.39 handle during the NY while the USD/JPY tested below the 95 handle for one-month lows. EUR/JPY cross was off 200 pips below the 132 level. Energy and metal commodities remained heavy with the strong dollar against the European pairs. GBP/USD tested below the 1.62 level ahead of the NY morning before retracing back towards 1.62. Sterling's soft tone also buckled as the growing potential for more quantitative easing (QE) from the BoE continues to unsettle traders. The "shadow MPC" called on the BoE to maintain the base rate at 0.5% and called for an extension of its quantitative easing (QE) beyond the Â£150B it currently has permission to undertake. CAD and AUD were off their worst levels from the European morning. USD/CAD is around 1.1630 while AUD/USD is straddling the 0.79 level.
- With the G8 summit in Italy set to begin later this week, the USD remains vulnerable to comments from various G20 members on its reserve currency status. The Indian Foreign Secretary commented that he was open to idea of replacing USD as global reserve currency. This comment echoed India Gov't Advisor Tendulkar stated last Friday that he would not be surprised if Rupee basket was revised to reduce role of USD. For the moment the risk aversion theme is outweighing the bulk of the reserve currency rhetoric. French President Sarkozy stated that a joint position on oil prices from the UK & France would be published within the next few days and commented that oil prices must target a reasonable price range.
Legal disclaimer and risk disclosure
All information provided by Trade The News (a product of Trade The News, Inc. "referred to as TTN hereafter") is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Although information is taken from sources deemed reliable, no guarantees or assurances can be made to the accuracy of any information provided. 1. Information can be inaccurate and/or incomplete 2. Information can be mistakenly re-released or be delayed, 3. Information may be incorrect, misread, misinterpreted or misunderstood 4. Human error is a business risk you are willing to assume 5. Technology can crash or be interrupted without notice 6. Trading decisions are the responsibility of traders, not those providing additional information. Trade The News is not liable (financial and/or non-financial) for any losses that may arise from any information provided by TTN. Trading securities involves a high degree of risk, and financial losses can and do occur on a regular basis and are part of the risk of trading and investing.
Forex Trading News
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.
Mon 19 Feb 2018
00:00 CN, US- Holiday Tue 20 Feb 2018
00:00 CN- Holiday A 10:00 US- ZEW Survey Wed 21 Feb 2018
00:00 CN- Holiday A All Day flash PMIs A 15:00 US- Existing Homes Sales A 15:30 US- EIA Crude AA 19:00 US- Fed Meeting Minutes Thu 22 Feb 2018 A 09:00 DE- IFO Survey A 09:30 GB- GDP AA 13:30 CA- Retail Sales A 13:30 US- Weekly Jobless Fri 23 Feb 2018 A 10:00 EZ- Final HICP AA 13:30 CA- CPI
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.