Technical Factors; Reduced Risk Aversion Pressure U.S. Dollar
Overbought market conditions and reduced demand for
safe-haven assets helped to weaken the U.S. Dollar overnight.Technically, both the Relative Strength Index
and the Stochastic Oscillator have placed the Dollar into overbought territory.
Reduced concerns about sovereign debt issues in Greece,
Spain and Portugal have
helped increase demand for higher risk assets. The combination of these two
factors could pressure the Dollar today.
The Dollar reached a three-month high this week, driven by a
flight to safety rally spurred by a downgrade in Greeceâ€™s debt and position
adjustments because of changes in Fed policy regarding the possibility of a
shift toward a tighter monetary policy.There have also been signs the Dollar is beginning to react positively
to good economic news.
The EUR USD is trading slightly better.Oversold conditions may have stopped the
decline, but the news that business confidence rose to a 17-month high in
December is most likely the catalyst behind the overnight strength.
Increased risk appetite is contributing to the strength in
the GBP USD.Overnight, the Bank of
England Financial Stability Report said the U.K. financial system is
â€śsignificantly more stableâ€ť.It did add,
however, that the â€śprobability of default by U.K. real estate companies has
increased significantlyâ€ť.The British
Pound could see volatile trading over the next couple of months as the Bank of
England begins to phase out of its quantitative easing program. The possibility
households will continue to face weakening labor conditions as well as
tightening credit conditions could fuel further weakness.Finally, the threat of a cut in the U.K. debt
rating from AAA remains a concern among long-term investors.
Last night the Bank of Japan left its benchmark interest
rate at 0.10%.In addition, it hinted
that its biggest concern remains deflation.Overall there were no surprises in the policy statement.Reduced demand for safe haven investments is
giving the USD JPY a boost this morning.
Stronger crude oil, equities and gold are helping the
Canadian Dollar recover some of this weekâ€™s losses.Although USD CAD traders showed a firm
commitment to the upside yesterday, no significant trend changes took place and
the market has fallen back inside of its 60 day range.
Overbought conditions are pressuring the USD CHF.Yesterdayâ€™s spike to the upside may have been
too much to handle.Traders sold the
Swiss Franc yesterday on concerns the sovereign debt issues in Europe would adversely affect the Swiss Banking
system.Now that debt concerns have
eased, traders are using this lull in the market to take profits after
The AUD USD is bouncing back after two days of selling
pressure.Traders have been pressuring
the Aussie this week because of the strong possibility the U.S. will begin
raising interest rates.This event will
trim the spread between Australian and U.S.
rates since the Reserve Bank of Australia
is likely to take a pause in its quest to raise rates, making the Aussie a less
attractive investment.This currency
pair could drop further if demand for higher yielding assets continues to
A similar situation is facing the NZD USD.A reduction in demand for higher yielding
assets is pressuring the Kiwi, but losses have been limited because of hawkish
comments from the Reserve Bank of New Zealand earlier this month.
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
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.