User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday December 15, 2009 - 13:15:46 GMT
Forex Hound -

Share This Story:
| | Email

U.S. Dollar Turns Weekly Trend Up

The U.S. Dollar Index erased all of yesterday’s loss overnight and turned the main trend to up when it crossed a previous main top at 76.82.  Traders are increasing bets this morning that the Fed will raise its key interest rate by at least a quarter-percentage point from near zero by June.


Traders are basing their projections on the recent series of good economic reports, namely the unemployment rate and retail sales.  Expectations are for the Fed to revise the language in its statement to represent a more hawkish outlook while revealing signs of an earlier exit from low rates than previously estimated.  Aggressive traders are already giving the Dollar a boost based on this projection.


The key to sustaining the rally in the Dollar will be Fed Chairman Bernanke.  The question investors are asking is “will he validate an early exit scenario?”  Lately he has been downplaying the need for higher interest rates because of his concerns about the sustainability of the economic recovery.  He doesn’t want to raise rates too early or too late.


Traders will be watching the Fed’s statement tomorrow for a hint of a rate hike.  Market participants will be disappointed if the Fed maintains its current dovish stance.  In its November statement, Fed officials pledged to keep rates near zero for “an extended period”.  They also specified that the current loose monetary policy will stay unchanged as long as inflation expectations are stable and unemployment fails to decline.  Since this statement, the unemployment rate has declined from 10.2% to 10.0%.  The drop in the unemployment rate should be enough for the Fed to lighten up the tone in its December statement. 


Today’s producer prices report is expected to show an advance.  This news should be supportive for the Greenback as it would force Dollar traders to readjust short positions to readjust their positions and fuel more speculation that the Fed is getting ready to begin a tight monetary policy campaign. Other reports which may trigger the same response from traders include industrial production and the NAHB Housing Report. 


The EUR USD took a hard hit overnight following the release of the German ZEW Economic Expectation Index report.  The Euro fell to a two-month low versus the Dollar when the ZEW report showed a decline from 51.1 in November to 50.4.  Going into this report, Euro investors were cautious about the economy because of credit downgrade concerns in Greece, Spain and Portugal.  Adding further to the weakness is a report that Austria nationalized a bank last night and may be facing a banking crisis. 


Technically, the EUR USD is headed toward a major uptrending Gann angle from the March low at 1.2456.  This angle comes in at 1.4496 today.  In addition, a minor .618 retracement level is at 1.4465.  Breaking under these two levels will be bearish for the long-run, but oversold short-term indicators could trigger a technical bounce or short-covering rally.

Despite the weaker Euro and signs the Fed is getting ready to hike interest rates, the GBP USD remains inside of a retracement zone at 1.6292 to 1.6154.  Overnight news that November CPI increased to 1.9% was largely ignored by traders since the pre-report guess was for an increase of 1.8%.  This currency is not likely to move until it breaks out of its short-term trading range.


The increased outlook for a rate hike by the Fed is helping to boost the USD JPY. Traders are becoming more confident that the Fed will hike rates sooner than expected while the Bank of Japan is expected to keep interest rates unchanged at 0.10% on December 17th.  The increase in the spread between the two interest rates is triggering a reversal in the carry-trade. Investors are buying Dollars to payback loans while simultaneously borrowing Yen.


Yesterday’s news that that Abu Dhabi bailed out Dubai made traders rethink their position about using the Yen as a safe refuge.  Technically, the USD JPY held a test of a 50% level at 88.58.  The current formation rally indicates that 89.46 is the next upside target.  Taking out this level signals a further rally to 90.13. 


Weaker Gold and the stronger Dollar are helping to trigger an overnight rally in the USD CHF.  This market is now at its highest level since October.   Look for the old top at 1.0337 to become new support.


Weaker gold and crude oil should put pressure on the Canadian economy which is likely to lead to a strong rally in the USD CAD.  This currency pair currently remains rangebound with 1.0691 the upside objective and 1.0459 the downside support.


The AUD USD is feeling downside pressure overnight as traders lowered to 66 percent from 80 percent the possibility of a Reserve Bank of Australia rate increase at its next meeting on February 2nd.  The RBA minutes from its last meeting released last night, showed that arguments for a third rate increase are “finely balanced”.  This change in member attitude had the effect of “materially shifting the stance of policy to a less accommodative setting.”  In other words, its time to take a pause in rate hikes. Technically, the Aussie rejected 50% resistance at .9167.


The NZD USD is trading lower overnight.  This market hasn’t been able to attract any buyers since the spike to the upside last week after the release of the hawkish statement by the Reserve Bank of New Zealand.  It’s beginning to look like the two day rally was enough for investors to adjust their dovish positions.  The chart indicates that .7180 to .7148 is a potential downside target. 









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."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

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 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.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

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.

Request a TRIAL of Max's Forex Service.


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

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 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

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