User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday December 10, 2009 - 13:27:28 GMT
Forex Hound - www.forexhound.com

Share This Story:
| | Email

Rising Global Equity Markets Pressure Dollar Overnight

Stronger global equity markets are contributing to the weakness in the Dollar as traders are once again increasing demand for more risky assets after reassessing U.S. economic data and the odds of an interest rate increase by the Federal Reserve.

 

This morning, traders will get their first look at the U.S. employment situation following last week’s surprise drop in the unemployment rate.  This report has a chance to set the tone for the day.

 

Stronger demand for equities is driving up the December E-mini S&P this morning.  Traders seem to have shrugged aside debt concerns in Dubai, Greece and Spain while renewing their interest in higher yielding assets.  Yesterday’s closing price reversal bottom at 1085.00 will be confirmed on a move through 1097.00.  The chart pattern indicates that 1102.00 to 1106.00 are potential upside targets.

 

Renewed interest in higher yielding assets is helping to push March Treasury Bonds and Notes lower.  Traders could ask for higher yields during today’s 30-year Bond auction.  This would put additional pressure on these markets later in the trading session.  March Bonds are at a critical juncture. Currently this market is on the bearside of both a .618 level at 118’31 and an uptrending Gann angle at 118’28.  Look for pressure as long as this market remains under theses levels.

 

February Gold is trading better because of the weaker Dollar.  The key downside target remains $1107.40, but overnight action indicates this market may not reach this level, especially if the Dollar continues to weaken.  The first upside target today is $1147.50.  This downtrendng Gann angle is controlling the short-term direction of this market.

 

March Crude Oil has completed a .618 correction of the 67.46 to 83.60 range.  This could trigger a technical bounce to the upside.  A weaker Dollar and firmer equity prices could help fuel a short-covering rally.  Gains could be limited because of bearish supply and demand conditions.

 

The U.S. Dollar is trading mixed overnight.  The Greenback is losing ground against most majors while posting a modest gain versus the Japanese Yen. Although the overnight activity suggests a renewal of interest in higher yielding assets, traders are continuing to keep an eye on the developing global debt situation.

 

The December Swiss Franc is trading sideways-to-higher overnight following the Swiss National Bank monetary policy decision.  The SNB left its 3-month target rate unchanged while announcing plans to stop bond purchases.  It also added that it will continue to “act decisively” to counter strong gains in the Swiss Franc. At this time, the SNB feels that an interest rate hike is inappropriate because the recovery remains fragile and inflation forecasts uncertain. 

 

Technically, the December Swiss Franc posted a closing price reversal bottom.  Overnight action failed to confirm the bottom and the lower-low negated the pattern.  .9675 remains the next downside target.  Mounting upside pressure could drive this currency pair to .9898 to .9943 over the short-run.

 

Stronger equity markets and a bearish economic report are helping to pressure the Japanese Yen.  The drop in core machinery orders in October is fueling speculation that deflation will undermine the economic recovery.  Technically, the December Japanese Yen completed a 50% correction to 1.1403.  Finishing this retracement is helping to contribute to today’s weakness. 

 

Stronger demand for higher yielding assets and an increase in German wholesale prices are helping to support the December Euro.  Yesterday this market posted a daily closing price reversal bottom at 1.4667.  This chart pattern will be confirmed if the market crosses 1.4782.  A confirmation could drive this market to 1.4906 to 1.4962 over the short-run.  If downside pressure persists, then look for a test of 1.4624.

 

The December British Pound is trading higher as traders await the release of the Bank of England monetary policy statement.  Traders expect interest rates to remain unchanged along with the BoE’s quantitative easing plan.  News that the U.K. and France have banded together to tax banker bonuses may be helping to give the market a boost.  Technically oversold conditions are also contributing to the bounce to the upside.  Exposure to foreign debt and a monstrous budget deficit could help to limit gains.

 

At this time the British Pound is trying to establish support inside of a retracement zone at 1.6289 to 1.6150.  If a support base can be built in this zone, then look for a rally back to 1.6521 to 1.6604.

 

The December Canadian Dollar is up but remains rangebound between a pair of 50% levels at .9446 and .9505.  A stronger stock market and firm crude oil prices may be contributing to the overnight gains.

 

 

 

 

Forex Trading News

Forex Research

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 here.

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.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 15 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Thu 14 Dec
23:50 JP- Tankan Survey

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

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --23:50-- JP- Tankan Survey
John M. Bland, MBA
co-founding Partner, Global-View.com EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

Retail Forex Brokerage Changing!

Are you 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.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 
Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

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.

Forex News

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

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.

Forex Brokers

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 Trading

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.

FX Trading

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.

Forex Blog

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.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105