The EUR USD finally poked through the psychological 1.5000
barrier after several attempts failed earlier in the week.Traders took the â€śtoe in the waterâ€ť approach
as this priced was reached because of the fear of a major seller up above.Traders have been reluctant to buy the Euro
at current levels because they fear a verbal intervention by the European
Central Bank.Earlier in the week, the
ECB expressed concerns about the rise in the Euro and its possible detrimental
effects on Euro Zone exports.The price
level is not the problem with this currency; it is excessive volatility that
ECB officials are worried about.
The GBP USD opened higher and accelerated to the upside as
demand for higher yielding assets rose.The initial move in the British Pound was triggered by positive news
from the minutes of the Bank of Englandâ€™s last meeting.The minutes showed that the BoE members were
unanimous in their decision to keep the asset buyback program at current levels.Many traders see this as a sign the program
is working and that additional stimulus may not be necessary.
The USD JPY was positive today.No real news came out to affect this currency
pair.This pair has been in a range for
a few weeks.Conflicting comments
recently from Japanese Finance Minister Fujii have traders a little confused at
this time.Fujii doesnâ€™t mind a higher
Yen as long it is based on sound fundamentals.His main concern is excessive speculation and volatility.
Higher crude oil and equity prices early in the trading
session helped boost the Canadian Dollar.Some of the move was attributed to short-term oversold conditions
following yesterdayâ€™s hard break.The
USD CAD turned the main trend up on the daily chart yesterday.The bottom was put in last week when Canadian
Prime Minister Harper expressed concerns about the rapid rise in the Canadian
Dollar.Yesterday the Bank of Canada
said the rally in the Canadian Dollar offset recent economic gains.The primary issue in this market is
valuation.An overpriced currency is
expected to hurt the economy.These
verbal interventions should serve as a warning to USD CAD bears that the
government is prepared to take action.
Demand for higher yielding currencies helped boost the AUD USD
for most of the day on Wednesday.Higher
equity markets in the U.S.
encouraged traders to once again trade the long side of the Aussie after a two
day setback.Selling pressure has been
on the Australian Dollar since the release of the minutes from the last Reserve
Bank of Australia
meeting showed no evidence of a possible 50 basis point rate hike in
November.Traders had bid up the AUD USD
in anticipation of this hike.The weak
close in the stock market could lead to follow-through selling pressure tonight
and tomorrow.This could encourage
profit-taking in the Aussie.
Positive comments from a key Reserve Bank of New Zealand
official gave the NZD USD a boost today. The RBNZ said that the price of the
New Zealand Dollar will have no effect on whether the central bank raises
rates.This served as a sign that the
RBNZ is perhaps considering raising interest rates sooner than expected.Like the Aussie, this currency is going to
take direction from the U.S.
equity markets.If U.S. markets weaken, then look for
a drop in demand for higher yielding assets and the start of a break in the
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
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market news, weekly forex research and monthly forex news features can be found
Forex News Real-time forex market news reports and features providing
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Mon 18 Dec
10:00 EZ- final HICP Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes Mon 25 Dec
00:00 Christmas Holidays
Potential Trading Opportunities
POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
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
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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.
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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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