U.S. Dollar Mostly Weaker Ahead of Retail Sales Report
The U.S. Dollar is trading lower against most major
currencies ahead of this morningâ€™s retail sales report.Economists are calling for an increase of
0.6% in retail sales for the month of November. The University of Michigan
Consumer Confidence report is expected to rise to
68.8 from 67.4.
Market participants want to see stability in the labor
market and an increase in consumer spending.In my opinion, a bullish retail number today is likely to support the
Dollar because it will increase speculation that the Fed will hike interest
rates sooner than expected.
Some traders feel that a bullish retail number will be
bearish for the Dollar because it will add to increased appetite for risky
assets.If this is the case then
appetite for risky assets will be the primary catalyst behind a weaker Dollar
This clash between those who believe the Fed is closer to
raising rates and investors who feel it is still a long way off, may trigger a
stalemate in the Forex markets until the Fed clarifies the situation at its
next meeting on December 16th.
The EUR USD is posting a modest gain overnight. After
experience stress earlier in the week because of downgrades of Greece, Spain
traders have reassessed debt conditions and decided that the price drop may
have been excessive.
The GBP USD is trading slightly better.Today the U.K. is expected to report that the
Producer Price Index rose by 2.9%.Yesterday the Bank of England decided to leave interest rates unchanged
while leaving its quantitative easing program intact.Like the Euro, losses earlier in the week may
have been overdone, leading to oversold technical conditions.
Increased demand for higher yielding assets is pressuring
the lower yielding Japanese Yen.This
week the Yen was hit with slew of bearish events leading to the recovery in the
USD JPY the past two days. Last night it was reported that Japanese Consumer
Confidence dropped more than expected for the first time this year.Earlier in the week, the Third Quarter GDP
number disappointed investors along with the approval of a new 7.2 trillion yen
The USD CHF is trading lower.Yesterdayâ€™s closing price reversal top is a
bearish indicator but the pair has to confirm the top first.Look for an acceleration to the downside if
1.0237 is broken.Yesterday the Swiss
National Bank agreed to leave interest rates unchanged while announcing plans
to end its bond purchasing program.The
SNB feels that the economy is still too fragile to begin hiking interest
rates.They also added that they will
not be shy about intervening if the Swiss Franc appreciates too much.
Overnight, the USD CAD is feeling downside pressure in a
continuation of the weakness which began on Wednesday. Yesterdayâ€™s better than
expected Canadian trade balance report was the catalyst behind the strong surge
in the Canadian Dollar.Higher precious
metal prices helped the trade balance achieve a surplus.
The Aussie Dollar is trading sideways to better following
yesterdayâ€™s strong rally.Thursdayâ€™s
move was driven by better than expected employment numbers and a sharp rise in
the New Zealand Dollar.Increased
appetite for risk from Asia also contributed
to the rise.Since todayâ€™s U.S. Retail
Sales Report will be the driving force in the stock market, this number is also
likely to influence the AUD USD.The
news, that Chinaâ€™s
industrial production increased by 19.2% in November, while exports fell at a
slower pace than estimated, provided some support to this market
The NZD USD is trading inside of yesterdayâ€™s range in a
lackluster trade.The strong surge the
past two days has put this market in a short-term overbought position.The first leg up from bottom is usually
short-covering.This means that another
factor will have to be the catalyst to drive this market higher.This catalyst will be increased appetite for
higher yielding currencies.If this
demand doesnâ€™t materialize, then look for a pullback to at least .7180.
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."
Actionable trading levels delivered to YOUR charts in real-time.
Tue 17 July 2018 AA 08:30 GB- Employment A 13:15 US- Industrial Production AA 14:00 US-Powell Testimony Wed 18 July 2018 AA 08:30 GB- CPI A 12:30 US- Housing Starts/Permits AA 14:00 US-Powell Testimony Thu 19 July 2018 AA 1:30 AU- Employment AA 08:30 GB- Retail Sales A 14:30 US- EIA Crude A 12:30 US- Weekly Jobless Fri 20 Jun 2018 A 12:30 CA- CPI/Retail Sales
John M. Bland, MBA co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
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.