The U.S. Dollar finished the day session lower in lackluster
trading with very few highlights.Profit-taking overnight led to a lower opening, but news that S&P
lowered the credit rating of Spain
helped the Dollar limit losses. Later in the trading session, the Dollar
reversed course and began to lose ground once again as traders reassessed the
fundamentals and decided that the recent rally may have been overdone.
Global debt concerns are the main issue this week and should
continue to be until countries like Greece
and Dubai step
up and back their debt commitments. Earlier in the week, a flight-to-quality
rally in the Dollar was triggered by credit rating downgrades in Dubai and Greece.Traders will continue to monitor these
situations for further developments.The
biggest fear is the spread of credit problems.At this time, the concerns have been confided to small areas, but today
the S&P Corp. added Spain
to the watch list.
At the mid-session, the EUR USD erased all of its earlier
gains, but recovered by the close.The
intraday weakness was triggered when the S&P Corp. lowered the debt rating
for Spain.Yesterday, Fitch cut the credit rating of Greece.Traders are reacting as if a trend is
developing. The chart pattern suggests that the next downside target is 1.4625
although it is likely this will not take place until after a formidable
Demand for lower yielding currencies is helped to drive the
USD JPY lower. This news comes on the heels of an early morning report which
showed that the Japanese economy grew slower than expected.Traders had very little reaction to the lower
than expected GDP Report and instead chose to focus their interests on the
weakening demand for higher yielding currencies.
Downside pressure could continue in the GBP USD now that key
support at 1.6250 has been broken.The
charts indicate that a break to 1.6148 is possible.Earlier today, the U.K. government released
preliminary plans to shore up its finances.Traders rejected the plan and began another selling spree. Traders are
also keeping an eye on the debt situation in Dubai because some U.K. bank may face
exposure to the bad debt.
The USD CAD is down today but still trading inside a tight
range. Throughout the New York session, this currency pair
straddled a pair of 50% retracement levels at 1.0598 and 1.0537. Yesterday the
Bank of Canada announced that interest rates would remain at 0.25 percent until
at least June 2010 and that it was still concerned about the strength of the
currency and its possible negative affect on exports.
The USD CHF erased most of its earlier losses, but still
managed to close lower for the day. Profit-taking helped put in the original
top, but losses were limited as buying pressure grew throughout the day because
of concerns about growing debt issues in the Euro Zone.Credit ratings have been cut for Greece and Spain this week. These actions are
making Swiss Franc traders nervous because of the possible exposure to Euro
Zone and Swiss banks. By the end of the day, this pair was able to post a
reversal top which could lead to the start of a 2 to 3 day break if 1.0219 can
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 AUD USD is struggling to hold on to its early morning
gains, but by the end of the day was able to post a daily closing price
reversal bottom. Intraday aversion to risky assets helped the Aussie give back
some of its earlier gains, but by the close, this market was able to hold on to
those gains. Last night it was reported that the Australian economy is
beginning to show signs of weakness after three interest rate hikes.Higher borrowing costs contributed to drops
in consumer confidence, home loans and investment lending.There is a possibility that this market could
rally back to .9167 before selling pressure resumes.
A pick-up in demand for higher yielding assets helped
give the NZD USD a boost.Tomorrow
traders will be looking for the Reserve Bank of New Zealand to leave interest
rates at 2.5% until at least the Third Quarter 2010 when it makes its monetary
policy statement. Unemployment and a drop in exports continue t
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 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
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.