Traders will be focusing on the U.S. ADP Report this
morning.The report is expected to show
that the pace of jobs loss in the U.S. is slowing, bringing the
economy closer to sustaining its current recovery. The early estimate is for a job loss of
150,000 versus a loss of 203,000 in October.A stronger than expected report will lead to an increase in risk
appetite which should pressure the Dollar and help to rally stock indices.Later this afternoon, traders will react to
the Fedâ€™s Beige Book.
An increase in demand for higher risk assets should send the
stock indices higher.Chart watchers
should note that the December E-mini S&P 500 is still holding the November
top at 1112.25.A break-out over this level
should send the index soaring to a possible test of major 50% resistance at
1122.00.A break back under 1102.25 will
be the first sign of weakness.A close
under 1089.50 will be bearish.
The rise in higher yielding assets pressured the Treasury markets
yesterday with the March Treasury Bonds taking the hardest hit. Yields for both
March Treasury Bonds and March Treasury Notes rose as these two instruments are
being forced to compete with the higher yields investors are getting in the
equity markets.The chart indicated that
March Bonds would break to at least 121â€™06.This area was tested overnight.Over the short-run, 120â€™24 is a possible target by December 7th.
For a second consecutive day, the Japanese Yen is under
pressure after a Bank of Japan official expressed his concern about the rise in
the currency.Despite official denials,
the BoJ seems ready to intervene if the Yen continues to appreciate too
much.The Bank of Japan and the Japanese
government want to avoid currency volatility.They both feel that that economic growth cannot be sustained if the Yen
is fluctuating too much.
This morning, the basket of currencies is trading steady to
better.Last weekâ€™s low at 74.27 is
still holding.A break through this
level is likely to trigger a further decline to the April 2008 bottom at
The December Euro is trading flat.Traders are being a little hesitant about
getting aggressively long at $1.51 ahead of the ADP Report.Support is coming from the news that the Dubai credit crisis is
stabilizing and remains a local rather than global issue.
The December British Pound overtook a key retracement level
at 1.6646 last night.This price is now
support along with 1.6575.A failure to
hold these levels will be a sign that a secondary top is forming
The December Swiss Franc is trading in a tight and narrow
range overnight with a slight bias to the downside.The Swiss Franc is trading at close to par
with the Dollar on the news that the country emerged from its recession
The Dollar is trading a little better versus the Canadian
Dollar overnight on light volume ahead of todayâ€™s U.S. employment report.Yesterday, the Canadian Dollar rose on the
news that Russia
was adding the currency to its Forex reserves.
February Gold continues to soar to the upside.Perceptions that the Dollar will weaken, and
renewed central bank buying is helping to boost this metal.News that gold producers have lifted hedges
is providing additional support.
March Crude oil is trading under pressure following the
American Petroleum Institute Report showing that inventories rose 2.9 million
barrels rather than drop by the estimated 1.3 million barrels.Higher equity markets and a weaker Dollar
could trigger a rally today, but traders will take most of their cues from
todayâ€™s EIA oil inventory report.
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.
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.
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