The USD CAD is trading better ahead of this morningâ€™s Bank
of Canada announcement at 8:00am CT.The
BoC is expected to leave interest rates at 0.25 percent. It should also
reiterate its stance to leave rates historically low until at least July
2010.This statement will be the key to
the marketâ€™s movement today.If they
move up the date then the Canadian Dollar should rally. Following last weekâ€™s
robust increase in the number of jobs created last month, the BoC is no longer
concerned about stagnation in the economy, but it is still worried about the
negative effect a high priced currency will have on exports.The BoC monetary committee is going to have
to be careful in how they word the statement because they donâ€™t want to appear
to bullish on the economy.
The EUR USD is trading lower this morning following a weaker
than expected German Industrial Production Report.This report is taking out some of the steam
in the market following comments from Bernanke which suggested the Fed was not
yet ready to begin raising interest rates.The German report which showed industrial output fell 1.8% in October
was a surprise but remember European Central Bank President Trichet has been
warning that the economic recovery will be bumpy and rough.
Technically overbought conditions are once again helping the
USD JPY give back gains following a huge surge to the upside last Friday
following the release of the better than expected U.S. unemployment rate. The
Dollar is paring gains versus the Yen following comments yesterday by Fed
Chairman Bernanke who reiterated the Fedâ€™s stance that interest rates would
continue to remain low for a â€śprolonged period of timeâ€ť. A sharp drop in equities could provide support
for the U.S. Dollar versus the Yen if traders decide to unwind carry trade
A report showing that U.K. house prices rose for the firth
consecutive month was not enough to ignite buying interest in the GBP USD
overnight, sending the market lower ahead of the New York opening.Industrial Production was unchanged in
October, reminding investors that the economy was still in a weakened
state.Manufacturing output was also
flat.Traders are now concerned that the
economy will not show a strong improvement in GDP during the 4th quarter.
Further complicating the possibility of a recovery is the threat by the U.K. government
to raise taxes and trim spending.
The USD CHF is trading higher overnight. The breakout over
the last swing top at 1.0222 turned the main trend up, but the market rejected
this area late yesterday after buying dried up. Swiss France traders are also
being influenced by the movement in the gold market.A recovery in gold could limit gains in the
USD CHF. On December 10th the Swiss National Bank is expected to leave its
benchmark interest rate unchanged and offer clarity as to its future monetary
policy plans.Most traders expect the
SNB to discuss its concerns about deflation and the possibility of another
round of intervention if the Swiss Franc appreciates too much against the Euro.
The recent spike in the AUD USD took its toll on exports as
the current account deficit widened on a drop in exports.It is estimated that the strong Aussie shaved
as much as 1.8% off the overall economic growth.Signs of weakness in this currency continue
to prevail despite last weekâ€™s rate hike by the Reserve Bank of Australia.Comments from RBA Governor Stevens regarding
the curtailing of future interest rate hikes is the biggest factor weighing on
the Aussie.Coupled with the possibility
of a rate hike by the Fed sooner than expected, should limit gains.A drop in demand for higher yielding assets
could send this market sharply lower over the near-term.
The trend is down in the NZD USD.Pressure should continue on this currency
pair until there is an increase in demand for higher yielding assets.Tomorrow the Reserve Bank of New Zealand
meets to discuss monetary policy.Expect
it to leave interest rates unchanged at 2.5% until at least the Third Quarter
2010. Unemployment and a drop in exports should help to curtail gains in the
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 26 Feb 2018 A 15:00 US- New Homes Sales Tue 27 Feb 2018 A 08:55 DE- Jobless B 13:30 US- Durable Goods A 15:00 US- CB Consumer Confidence A 15:00 US- Pending Homes Sales AA 15:00 US- Powell House Testimony Wed 28 Feb 2018 A 10:00 EZ- flash HICP AA 13:30 US- GDP A 15:30 US- EIA Crude Thu 1 Mar 2018 A All Day final Mfg PMIs A 13:30 US- Weekly Jobless AA 13:30 US- Core PCE Deflator AA 15:00 US- Powell Senate Testimony A 15:30 US- EIA Crude Fri 2 Mar 2018 AA 15:00 US- final Univ of Mich
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.