The U.S. Dollar tried to mount a rally throughout the day,
but failed at the close and ended up mixed for the day against most major
The EUR USD finished lower but off its lows.A late session stock market rally helped to
boost demand for higher risk assets which buoyed the Euro.Tomorrow the European Central Bank meets to
discuss monetary policy.Expectations
are for the ECB to leave interest rates unchanged at 1.0% and call for the
continuation of its stimulus packages.ECB President Trichet wants to see a solid recovery in the global
economy before ending any of its stimulus plans.
Look for the Bank of England to leave its benchmark interest
rate unchanged at 0.50%.Weakening
fundamentals continue to keep the pressure on the BoE to maintain its low
interest rate policy.Traders also
expect the BoE to leave its asset-buyback program unchanged.
In August the BoE voted to increase the amount of funding
available to purchase government debt.At
the time, there was some disagreement among members but a weak economy changed
the vote to unanimous in September.BoE
Governor King is also on record calling for a weaker Pound to help improve the
economy.All of this should be
reiterated in tomorrowâ€™s policy statement.
The USD JPY had a volatile trading day.After opening weaker, traders became
concerned that the Bank of Japan would implement some kind of an intervention
to push down the value of the Yen.This
triggered a rally in the USD JPY. By the end of the day, however, buyers took
over to drive the Yen higher.Demand for
higher yielding assets is likely to take the USD JPY through its recent bottom
at 88.23.The BoJ will allow this to
take place if economic reasons weaken the Dollar and the move is orderly.
The USD CAD remains rangebound as traders cannot make up
their minds as to which direction to take this market.Higher equity markets are driving up demand
for higher yielding assets, but weak energy markets are limiting gains.The inability of the U.S. economy to
mount a robust recovery is also keeping pressure on the Canadian Dollar because
the two economies are so closely related.Furthermore, even if the Canadian Dollar did strengthen, investors
arenâ€™t sure how far it could advance without causing damage to the Canadian
export market and causing concerns with the Bank of Canada.
The NZD USD and AUD USD took a breather after strong rallies
earlier in the week.Expectations are
for these two markets to continue to rise as long as the Australian central
bank can back up its recent interest rate hike with sound economic evidence of
a recovery.Traders are also expecting
to see improvements in the New
Zealand economy to support its recent
rise.Aussie traders are already talking
about another rate hike by December.The
Reserve Bank of New Zealand
is on record stating that it will keep interest rates low until early
2010.This could change if there is
evidence the New Zealand
economy is heating up.
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.
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.