User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday December 17, 2009 - 23:57:43 GMT
Forex Hound - www.forexhound.com

Share This Story:
| | Email

Stocks fall as Traders Seek Safe-Haven Investments

U.S. stock markets traded hard to downside on Thursday fueled by fears of a financial crisis in the Euro Zone.  Stocks began their sell-off last night following a downgrade of Greece’s debt by the S&P credit rating service.  The markets accelerated to the downside shortly after the U.S. opening partly on a higher then expected initial claims figure.

 

Traders for the most part sought refuge in safe haven investments such as the U.S. Dollar and Treasury instruments.  Although no significant damage was done to the charts, the tone of the market seems to be shifting to more down beat, which could be an indication of further weakness to follow.

 

March Treasury Bonds surged to the upside as they were the recipient of funds being pulled from the equity markets.  Traders fearing an end of the year meltdown in equities increased demand for a safe haven investment.  Yesterday the Fed’s statement signaled an end to cheap money, causing yields to rise, but investors ignored this news today. 

 

The overnight downgrade of Greek debt should linger in the market for a few more days as investors try to figure out which other Euro Zone nations will suffer the same fate.  At this time the debt crisis is being contained within a few countries but can easily move to the Euro Zone and in turn jump to the U.S. financial system.  Investors have learned from past mistakes and are reacting to the smell of smoke rather than waiting for the fire.

 

The stronger Dollar sent February Gold sharply lower.  Gold took out a major 50% retracement price before stopping near uptrending Gann angle support at $1098.00.  Downside momentum indicates that the Fib retracement level at $1079.00 is the next downside target. With inflation almost non-existent according to the Fed and the Dollar at a 3-month high, there doesn’t seem to be much in the news that could turn this market around.

 

March Crude Oil reversed earlier strength and finished lower for the day.  The failure to hold a key 50% level at 75.53 triggered some of the selling today.  Most of the break, however, was attributed to weaker stocks and a stronger Dollar. Crude oil was able to find support near a .618 retracement level at 73.63.  Short-covering triggered a mild rally and the market closed inside of the retracement zone at 73.63 to 75.53.

 

The U.S. Dollar reached a three-month high today.  The strong surge to the upside was fueled by the S&P’s downgrade of Greece’s credit rating.  This strong rally started last night but gained strength throughout the day on the possibility of more downgrades of Euro Zone sovereign debt. Investors treated the Dollar as a safe-haven investment on the fear that the spread of bad debt throughout the region could trigger serious banking issues, curtailing the current economic recovery.

 

The March Euro took out a major 9-month uptrending Gann angle as well as a minor .618 level overnight and accelerated to the downside.  Both fundamental and technical factors contributed to today’s weakness. Look for the downside momentum to continue unless the European Central Bank steps up to defuse the growing debt crisis by freeing up liquidity.

 

The March British Pound sold off today because of a disappointing retail sales report.  This news overwhelmed Wednesday’s better than expected jobless claims data.  Technically, the British Pound failed to hold retracement zone support and is now trading on the weak side of a 3-month 50% price at 1.6292.  The chart indicates this market is vulnerable to a further decline to 1.5941.

 

Falling gold prices and the weakening stock market pressured the Canadian Dollar throughout the New York trading session. Technically, the March Canadian Dollar broke out to the downside on the move through .9363.  The next downside target is a swing bottom at .9094 on the weekly chart.

 

Demand for higher yields, an improving economy and the reversal of the carry trade helped trigger a sharp break in the March Japanese Yen.  It is possible that a sharp sell-off in the equity markets tomorrow could lead traders to the safety of the lower yielding Yen. This would trigger a rebound in the currency.

 

Demand for the U.S. Dollar and debt problems in the Euro Zone helped to pressure the March Swiss Franc.  Traders are factoring in the possibility that Swiss banks face exposure to debt issues in Greece, Portugal and Spain. Unless something is done to defuse the growing fear that a debt crisis is developing, the Swiss Franc could deteriorate further. In addition, a collapse in the gold market could put additional pressure on this market.

 

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 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



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