The US ISM services survey for September posted a positive surprise for markets, helping equities rebound from four days of selling. A major investment bank's buy recommendation on banking stocks added to the sentiment, and as we write the S&P500 is up 1.2% after a strong open, the banks index up 3.8%. Commodities oil (+1.2%) and copper (+1.8%) moved in line with risk sentiment. US 10yr notes were unchanged since the Wellington close; after some minor buying early NY on speculation of strong auction demand this week, notwithstanding China's holiday, they were then sold on the broader move in risk from 3.18% to 3.22%.
The US dollar is slightly lower than at Wellington's close, having risen to 76.99 and fallen back to 76.63, still within the recent range. EUR rallied to 1.4670 after the US data, but couldn't break that resistance level. GBP underperformed, congesting around 1.5940 all evening. The yen benefited from the negative dollar sentiment, rallying from 90 to 89.40.
AUD took a while to respond to the move in equities and commodities, range bound between 0.8720 and 0.8760, but broke higher after NY to 0.8789, where it currently resides.
NZD similarly lagged the move in risk, remaining between 0.7180 and 0.7230 until the recent break higher to 0.7304, close to the 2009 high of 0.7312. AUD/NZD reached 1.2168 early London, but it was one-way traffic downwards after that, and it currently probes 1.2030. Speculation around today's RBA outcome has added volatility here.
US ISM non-manufacturing rises from 48.9 to 50.9 in Sep. Accelerating business activity and orders, and a slower pace of inventory unwind (and a slightly slower pace of job shedding) were the main factors driving the first above 50 reading for this index since August last year.
Euroland retail sales fall 0.2% in August, their fourth consecutive month without a gain, though not as weak as soft French and German data had suggested might be the case.
Euroland Sentix investor sentiment rises from â€“14.6 to â€“12.6 in Oct, consistent with the recent upswing in European equities. Also, the Sep PMI services was revised up from 50.6 to 50.9, its highest since April 2008.
UK PMI services up from 54.1 to 55.3 in Sep. That is the highest since September 2007, and contrasts with softer readings for both the construction and factory PMIs in September.
AUD/USD and NZD/USD outlook today: Both currencies should be well supported today, given the global risk backdrop from last night, and local data. The AU trade balance is expected to be AUD supportive, but the wild card will be the RBA's rate announcement, half the market thinking they'll hike 25bp. NZâ€™s important Q3 business opinion survey should be bullish. Buy on dips to 0.8750 and 0.7250.
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.