Investors Using U.S. Dollar for Funding Riskier Assets
The U.S. Dollar finished lower against most major currencies
on Friday as investors continued the trend of funding riskier assets with the
lower yielding Dollar.The Dollar also
took a hit following the release of a better than expected University of Michigan
Confidence Survey.News that Chinaâ€™s industrial output rose
12.3% was also a catalyst contributing to the Dollarâ€™s weakness.
The EUR USD finished slightly lower on Friday but up close
to 2% for the week.Todayâ€™s sell-off was
technically based as this currency pair hit a key retracement level at 1.4622,
encouraging long traders to take profits. Appetite for higher yielding assets
was the primary reason behind the strong surge in the Euro this week.
The GBP USD continued its strong up move today as this
market is basically playing â€ścatch upâ€ť following last monthâ€™s huge
sell-off.Yesterdayâ€™s news that the Bank
of England would leave bank deposit rates unchanged helped fuel todayâ€™s
rally.Despite the current rally, the
Pound should continue to lag the rest of the major currencies until the U.K. economy
turns a corner or the BoE reduces government stimulus.
The USD JPY finished the week on a multi-month low as
traders continued to use the Dollar as a funding currency rather than the
traditional Yen.The current downtrend
could accelerate to the downside now that the important 91.00 support area has
been breached.Unless there is a
dramatic turnaround to the downside in global equity markets, continue to
expect pressure on the USD JPY.
Stronger demand for higher yielding assets helped support
the Canadian Dollar today but gains were limited by the weakness in crude
oil.Selling pressure has been on the
USD CAD for several days but this currency pair has not accelerated to the
downside.Traders are concerned that the
Bank of Canada may take action to quell the Canadian Dollarâ€™s rapid rise
because of its negative effect on the economy.
The AUD USD finished the week at its high for the year, but
closed lower for the day. Increased appetite for risk helped boost the Aussie
but gains were limited by the news this week that retail sales were down as
well as exports.Both of these events
encouraged traders to lighten up positions since the Reserve Bank of Australia was
not likely to raise rates until December.Traders had been buying the Aussie in anticipation of a rate hike in
The NZD USD finished higher for the day and the week buoyed
by stronger appetite for risky assets and perceptions that the New Zealand
economy was poised for a recovery.Earlier in the week, the Reserve Bank of New Zealand left interest rates
unchanged and hinted that additional rate cuts were possible.This threat apparently did not rattle
investors who continued to push prices higher.
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."
Actionable trading levels delivered to YOUR charts in real-time.
Mon 12 Mar 2018 A 17:00 US- 3-Yr Auction Tue 13 Mar 2018 A 10:00 DE- ZEW Survey AA 12:30 US- CPI A 17:00 US- 10-Yr Auction Wed 14 Feb 2018 AA 12:30 US- Retail Sales A 12:30 US- PPI A 14:30 US- EIA Crude A 17:00 US- 30-Yr Auction Thu 15 Mar 2018 A 12:30 US- Weekly Jobless A 12:30 US- Philly Fed, Empire PMI A 12:15 US- Industrial Production Fri 16 Mar 2018 A 10:00 EZ- final HICP A 12:30 US- Housing Starts/Permits A 14:00 US- prelim Univ of Mich
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.