Bad Housing Starts Report Limits Upside Movement in U.S. Equity Markets
Despite the weakness in the Dollar today, U.S. Equity
markets could not get on track for a rally because of a bad housing starts
report. This morningâ€™s decline in U.S. Housing Starts capped gains throughout
the day although the markets were able to eke out a slightly better close.
Traders are beginning to question stock valuations given the current weak state
of the economy.
Treasury futures traded lower throughout the session despite
the weak housing starts report. Today the U.S. also reported that the Core CPI
rose.This report was most likely the
cause of the break as it served as a reminder that inflation was still out
there. Technically, today's closing price reversal indicates overbought
conditions and could trigger the start of a 2 to 3 day break.
This weaker than expected housing starts report kept
downside pressure on the equity markets throughout the trading session.The choppy trade in the U.S. Equity markets
created see-saw movement in the currencies throughout the day. Traders didn't
know whether to buy the dips in the Dollar in anticipation of a drop in equity
markets or to sell more Dollars.
The December Euro posted a sizable gain.Tuesday's supportive comments from European
Central Bank President Trichet were not enough to stop the Dollarâ€™s slide
today. 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. If upside momentum continues at the current pace, we
could see a test of 1.5063 tomorrow.
The December British Pound traded lower on Wednesday. This
was triggered by a negative reaction to the Bank of England minutes and
overbought technical conditions. Traders reacted to thenews from the BoE minutes that the vote was
split regarding the recent 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. Traders looked for
the safety throughout the New York session while they sorted out the data from
the minutes report.
December Gold made a new high for the year but settled
slightly better.Today's early rally was
triggered by the weaker Dollar and today's inflation data.Gains were limited because the Dollar ended
up strengthening throughout the day. Although no reversal top was formed, the
close near the low suggests the selling may be greater than the buying at
January Crude Oil finished better on speculation and the
lower Dollar.Todayâ€™s oil inventory
report suggested that consumer demand is still falling.If the Fedâ€™s assessment of the economy is
right, then demand should continue to drop because of the fragile economy and
high unemployment. All this market needs is a stronger Dollar to send it lower.
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.
Mon 10 Sep 2018 AA 08:30 GB- GDP, Trade, Output Tue 11 Sep 2018 AA 08:30 GB- Employment Decision A 09:00 DE- ZEW Survey Wed 12 Sep 2018 A 12:30 US- PPI A 14:30 US- EIA Crude A 18:00 US- Beige Book Thu 13 Sep 2018 A 1:30 AU- Employment AA 11:00 GB- Bank of England Decision AA 11:45 EZ- European Central Bank Decision A 12:30 US- Weekly Jobless AA 12:30 US- CPI Fri 14 Sep 2018 A 08:30 GB- GDP AA 12:30 US- Retail Sales A 13:15 US- Industrial Production AA 14:00 US- prelim University of Michigan
John M. Bland, MBA co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
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.