U.S. Dollar posted a strong gain after bearish economic reports this morning
The U.S. Dollar posted a strong gain after bearish economic
reports this morning triggered a massive sell-off in U.S. equity markets. Investors were
encouraged to dump higher yielding assets for the safe haven Greenback. Two
different reports indicated a drop in consumer spending and sentiment.U.S. Personal Income was flat but Personal
Spending indicated that consumers are still paying off debt and saving their
money.The drop in the Michigan Sentiment
showed that consumers are still uncertain about the economy mainly because of
fear of losing their jobs.
All of the currencies that moved higher on the bullish U.S.
Third Quarter GDP Report on Thursday gave back their gains. Some even exceeded yesterdayâ€™s lows as selling
momentum was strong all day.This
reaction the day after the GDP Report proves that investors have put this
report behind them and are now looking at the future of the economy.Todayâ€™s reaction shows that investors are
worried that without government and Fed stimulus, the road to recovery will be
Next week investors will have to deal with a Fed FOMC
meeting and the Non-Farm Payrolls Report.Investors expect the Fed to change the language of their statement to
indicate that a hike in interest rates may be coming sooner than expected.The Non-Farm Payrolls Report should show an
increase in jobs lost and an unemployment figure close to 10%.A worse than expected report will make
investors question whether the economic expansion during the 4th Quarter will
be able to meet the 3rd Quarter number.
The EUR USD finished the week lower after posting a new high
for the year on Monday.This closing
price reversal formation indicates the start of a 2 to 3 week break.The GBP USD finished the week on the downside
after showing strength earlier in the week.Traders are speculating that the Bank of England may increase or extend
its asset purchase program.Earlier in
the month it was reported that the U.K. economy had contracted.The stronger Dollar and weaker gold put
pressure on the Swiss Franc all week.The USD CHF has been strong since it was reported that the Swiss
inflation rate rose within target.
The USD JPY finished lower for the week as a shift in market
direction caused Japanese investors to repatriate funds.Late in the week it was announced that the
Bank of Japan will end its corporate bond buyback program.This sent a message to investors that the BoJ
is getting ready to end its stimulus program.The sell-off in the USD JPY changed the trend to down on the daily
chart.Downside momentum indicates that
this market may see a retest of 88.00 over the near-term.
Commodity currencies finished the week lower as demand for
higher yielding assets fell sharply when the Dollar rallied.The AUD USD changed the trend to down on the
daily chart while downside momentum is indicating further weakness should be
expected.A weaker than expected Aussie
inflation number took the wind out of the recent rally early in the week as it
sent a message that the Reserve Bank of Australia would not hike rates by 50 bp
as speculated.Traders who had been
bidding up this market in anticipation of an aggressive rate hike were forced
to pare back their positions.
The NZD USD at first weakened in sympathy with the Aussie
Dollar, but drew selling pressure of its own when the Reserve Bank of New Zealand
decided to leave interest rates unchanged.In addition, it said in its statement that interest rates are not likely
to rise until mid-20101.The drop in
commodity prices this week also contributed to the weakness as it indicated
that New Zealand
exports may be down during the 4th quarter.
Weaker equity and crude oil prices helped contribute to the
strong surge in the USD CAD.For weeks
the Bank of Canada had been talking the Canadian Dollar down.It feared that a strong Canadian Dollar would
be detrimental to the economic recovery.The combination of the â€śverbal interventionâ€ť and lower demand for higher
risk assets should continue to support the strong rally in the USD CAD next
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
Mon 19 Feb 2018
00:00 CN, US- Holiday Tue 20 Feb 2018
00:00 CN- Holiday A 10:00 US- ZEW Survey Wed 21 Feb 2018
00:00 CN- Holiday A All Day flash PMIs A 15:00 US- Existing Homes Sales A 15:30 US- EIA Crude AA 19:00 US- Fed Meeting Minutes Thu 22 Feb 2018 A 09:00 DE- IFO Survey A 09:30 GB- GDP AA 13:30 CA- Retail Sales A 13:30 US- Weekly Jobless Fri 23 Feb 2018 A 10:00 EZ- Final HICP AA 13:30 CA- CPI
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.