The Dollar opened lower this morning, driven to a 14-month
low by demand for higher risk assets.Traders were buying equities and commodities while selling the Dollar on
expectations of a strengthening global economy.Sentiment shifted however after the release of weaker than expected U.S. housing
and Producer Prices.Both reports caught
traders by surprise as many thought bullish earnings news from Apple, Inc.
would set a bullish tone for the day.Instead, traders opted to let these two bearish reports set the tone for
Traders fearing a weakening economy and the threat of
deflation halted their demand for higher yielding assets and began seeking the
shelter of the U.S. Dollar and Treasuries. The Dollar rose throughout the day as bottom
pickers entered fresh positions and overbought currencies gave back recent
The EUR USD opened higher as investors chose to ignore
concerns voiced by Trichet and other Euro Zone Financial Ministers regarding
the rapid rise in the Euro and its possible detrimental effects on Euro Zone
exports.Traders drove the Euro higher
until the buying stopped slightly below the psychological 1.50 barrier.Todayâ€™s action suggests that a combination of
verbal intervention and high prices may lead to a break in this market to a
more reasonable level.
The GBP USD closed lower today because of the turnaround in
the U.S. Dollar.Sentiment has been
driving this market higher since last weekâ€™s rumor that the Bank of England
would put an end to its asset buyback program.This week started with rumors the BoE was actually considering expanding
the program.So far this week trading
can be described as sideways.The BoE is
going to release its minutes later this week along with Third Quarter UK
GDP.Both reports are expected to be
market movers.Traders reading the
minutes will be interested to see how the BoE members feel about expanding or
ending the stimulus program.
The USD JPY started lower on Tuesday after Japanese Finance
Minister Fujii said he would not intervene to stop the rise in the Yen until it
was triggered by volatility rather than economic data.The strong rally overnight in the equity
markets was also a contributing factor to the early strength.Once the bearish U.S. housing and PPI Reports were
released, however, equities broke and demand for lower yielding assets helped
push up the USD JPY.
The Bank of Canada voted today to leave interest rates
unchanged along with its plan to begin raising rates sometime during the second
quarter of 2010.This wasnâ€™t the big
news however.The subsequent statement
by the BoC contained language which suggested the possibility of an intervention.Data showed that the recent rally in the
Canadian Dollar had erased much of the gain the economy recently posted.This is raising concerns among central bank
members that the economy will not be able to recover if the currency continues
to strengthen.Traders read this statement
as verbal intervention and covered short USD CAD positions, triggering a strong
The minutes of the Reserve Bank of Australia
monetary policy committee suggested that members were concerned that a rate
hike might be pre-mature.In addition,
the language suggested that current economic conditions do not dictate a 50
basis point hike in November.The AUD
USD weakened on the news as traders had overbought this market in anticipation
of an aggressive rate hike next month.
The NZD USD followed the Aussie lower as technical indicators
show that this market may be overbought.Some traders feel that aggressive bets on a rate hike in November may
have been a case of over-speculation since the Reserve Bank of New Zealand is
offering no sign of changes in its plan to hike rates later next year.
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
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from previous years can be found on the left sidebar under "FX Archives."
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Mon 26 Feb 2018 A 15:00 US- New Homes Sales Tue 27 Feb 2018 A 08:55 DE- Jobless B 13:30 US- Durable Goods A 15:00 US- CB Consumer Confidence A 15:00 US- Pending Homes Sales AA 15:00 US- Powell House Testimony Wed 28 Feb 2018 A 10:00 EZ- flash HICP AA 13:30 US- GDP A 15:30 US- EIA Crude Thu 1 Mar 2018 A All Day final Mfg PMIs A 13:30 US- Weekly Jobless AA 13:30 US- Core PCE Deflator AA 15:00 US- Powell Senate Testimony A 15:30 US- EIA Crude Fri 2 Mar 2018 AA 15:00 US- final 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.
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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.
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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.
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