At the mid-session, the EUR USD is posting
a large gain.Yesterdayâ€™s supportive
comments from European Central Bank President Trichet were not enough to stop
the Dollarâ€™s slide.Matters werenâ€™t
helped after Luxembourg
premier Jean-Claude Juncker said that the Euroâ€™s rally hasnâ€™t hurt the Euro
Zone recovery.This comment gave traders
the green light to drive the currency higher.
The GBP USD is trading lower at the
mid-session.This is either being
triggered by a negative reaction to the Bank of England minutes or overbought
technical conditions.The major news
from the BoE minutes was the fact that the vote was split regarding the
expansion of the central bankâ€™s quantitative easing program.The initial reaction to the split vote was
positive as it suggested the bank would not expand further.The market, however, broke after a
follow-through rally failed.
The U.S. reported an unexpected dip in
Housing Starts.This bad news has kept
downside pressure on the equity markets all morning.A sharp break in the stock markets could
trigger a huge reversal in the Dollar as it will cause traders to flee higher
yielding assets and currencies.
The AUD USD and NZD USD have attracted
selling pressure because of the weaker equity markets.Watch for these markets to break hard if
equity markets sell-off late in the session.The Aussie is still seeing weakness after the Reserve Bank of Australia
minutes suggested that a rate hike over the short-term is not likely.
Higher gold and crude oil are supporting
the Canadian Dollar.Canadaâ€™s
consumer price index rose last month but this report was inline with
expectations.The Bank of Canada is not
too concerned about inflation, but rather the value of the currency.Despite the rally today, traders still seem
tentative about pushing this currency higher.The fear is the BoC will implement a strategy that will push down the
value of the Canadian Dollar.
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Mon 19 Mar 2018 Tue 20 Mar 2018 AA 9:30 GB- CPI A 10:00 DE- ZEW Survey Wed 21 Mar 2018 AA 03:00 AU- Employment AA 9:30 GB- Employment A 12:30 US- Current Account AA 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude A A18:00 US- Fed Rate Decision A 21:00 NZ- RBNZ Rate Decision Thu 22 Mar 2018 AA All Day flash PMIs AA 9:30 GB- Retail Sales AA 12:00 GB- Bank Of England Decision A 13:30 US- Weekly Jobless Fri 23 Mar 2018 AA 12:30 CA- CPI/Retail Sales A 12:30 US- Durable Goods A 14:00 US- New Homes Sales
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 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.
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