equity markets are expected to open higher as investors are putting risk
trading back on the table. Upside momentum is building which could trigger a
further acceleration to the upside.The
next target for the December E-mini S&P 500 is 1112.25.A breakout through this level sets up a
further rally to a major 50% price at 1122.00.The inability to reach the minimum upside target could lead to renewed
selling pressure.A failure to hold the
psychological level of 1100.00 will be the first sign of weakness.Watch for strong volatility today and
possible expanded ranges.
Talks continued in Dubai
to shore up its debt woes.Traders are
continuing to chip away at last weekâ€™s losses in the foreign currency and
equity markets as they grow more confident that this issue is a local problem
rather than worldwide.Officials are
defining the talks with creditors as â€śconstructiveâ€ť.As this situation improves, investors are
stepping up demand for higher yielding currencies and assets.
Treasury markets are trading lower as investors are shunning
the lower yields being offered by March Treasury Bonds and March Treasury
Notes.An acceleration to the upside in
the equity markets is likely to push yields higher and fixed income instruments
The U.S. Dollar continued to weaken overnight against most
major currencies after China
announced that its manufacturing sector rose to a seasonally adjusted 55.7 last
month.This growth rate was the fastest
pace in five years or since the index began being tracked.
The December Euro is up again overnight and in a position to
challenge yesterdayâ€™s high at 1.5084.Upside momentum is building which can trigger a further rally to the
high for the year at 1.5144.Later this
week, the European Central Bank is set to meet.Traders expect interest rates to remain unchanged, but ECB members will
make announcements regarding the gradual ending to government stimulus plans.
The December British Pound has erased yesterdayâ€™s weakness
and is now trading higher.On Monday,
this currency pair fell after U.K.
consumer confidence unexpectedly fell.This morning the British Pound is trading at 1.6573 which is a 50%
retracement of the 1.6876 to 1.6270 range.Further upside action could take this market to 1.6645.This retracement rally is very important to
the structure of this market.A failure
to rally above this potential resistance zone could set up a secondary lower
The Dollar is trading sharply higher versus the Yen after
the Bank of Japan took action to weaken its currency.While not actively intervening to weaken the
Yen, the BoJ provided additional liquidity to the economy by saying it will
provide three-month loans to commercial banks at an interest rate of 0.10
percent.This action by the BoJ is
expected to help stimulate growth and prevent deflation.Some analysts feel, however, that the size of
the stimulus package is not enough to turn the economy around.Traders are nonetheless selling Yen to
lighten up exposure.
Higher equity and commodity markets are helping to boost the
Canadian Dollar.As demand for higher
yielding assets increases, look for more weakness in the U.S. Dollar versus the
Canadian Dollar. This morningâ€™s trading action has put this currency in a
position to turn the main trend up on the daily chart on a move through
.9570.An acceleration to the upside
could start following a breakout over the November top at .9599.
February Gold surged to a new all-time high overnight.The weaker Dollar is providing all of the
support this morning.The follow-through
to the upside has been limited so far so watch to see if this market turns
lower intra-day.A higher-high,
lower-close will be a strong sign that a top is being formed.A break in the Dollar Index through 74.27
should lead to an acceleration to the upside.
March Crude Oil is mounting a strong rally this
morning.Greater demand for higher
yielding assets is helping to boost prices along with higher equity markets in
Europe and Asia.Speculators are once again driving this
market higher.The trend remains down
until the last main top at 82.30 is violated, but regaining a key retracement
price at 80.27 has put a bullish tone in this market.A break back under 79.24 will be a sign of
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."
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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
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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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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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