equity markets experienced high levels of volatility this week. At times it
looked like the Bears were ready to crush them, only to be met by the â€śNever
say dieâ€ť Bulls.The continuing strength
in the Dollar keeps putting pressure on stocks as traders reverse the carry
trade.The pressure has not been enough
to trigger the slew of stop loss orders that seem to be well-placed below the
current trading zone. A bearish pattern will become clearer if these markets
can form a secondary lower top.The
markets are likely to turn sharply lower once a key main bottom is taken out on
the weekly chart.At this time, there
are no indications that this market is ready to turn down yet.There are indications of a short-term top,
but nothing that indicates a change in trend to down is imminent.
The primary driver for this weekâ€™s weak trade in the equity
markets has been aversion to risky assets due to credit concerns in the Euro
Zone.Traders should monitor new
develops to see if this crisis is spreading to our shores.
Treasury futures traded mixed this week before closing
higher. The Fed announcement on Wednesday regarding its plan to begin removing
stimulus measures put in a bottom as it became a â€śsell the rumor, buy the factâ€ť
situation.Oversold conditions may
trigger a short-covering rally next week, but the long-term charts still
indicate lower markets to follow.
The U.S. Dollar finished at a 15-week high buoyed by debt
concerns in Greece
and the Fedâ€™s release of more detailed plans to remove excess liquidity from
the financial system.
The U.S. Dollar opened the week lower after Abu Dhabi ponied up $10
billion to shore up the debt of Dubai World.This break was short-lived, however, because speculators bought on the
break in anticipation of more hawkish comments from the Federal Reserve. The
Dollar remained steady after the Federal Reserve released its monetary policy
statement on Wednesday, but soared on Thursday following an S&P downgrade
debt.Friday, the Dollar traded mixed as
traders alternated between demand for risk and risk aversion.
Earlier this week, the Fed offered commentary on the
economy, saying that deterioration in the labor market was â€śabatingâ€ť.This statement was a reaction to the decline
in the unemployment rate earlier in the month from 10.2% to 10.0%.The Fed did reiterate, however, that it will
keep its benchmark interest rate at a historically low level for â€śan extended
Bernanke and his friends also said â€śHousehold spending
appears to be expanding at a moderate rate, though it remains constrained by a
weak labor market, modest income growth, lower housing wealth and tight
credit.â€ťThis statement can be
interpreted to mean the Fed still wants to see people getting jobs, consumers
spending and banks lending money.
The March Euro finished the week sharply lower.Economic reports were largely ignored this
week as traders chose to focus on the developing debt concerns in Greece, Spain
and Portugal.These problems will not go away until
addressed by the European Central Bank.Some traders feel that the other shoe is about to fall if Moodyâ€™s rating
services decides to downgrade any of these three countries.No one is certain if there are other
countries facing similar debt problems.This crisis may spread to Ireland or Western European
nations. The Fed announcement is old news.Traders should pay close attention to the debt issues.Look for the situation to fester for some
time and maybe even turn explosive.This
could mean serious downside pressure for the Euro.
Despite efforts to hold the March British Pound steady,
sellers finally took control to drive the Cable lower for the week.Debt issues in Europe are raising concerns
banks may face exposure to bad debt.In
addition, the U.K.
has debt ratings issues of its own to worry about.The story that the U.K. debt rating may fall below AAA
is still out there and helping to limit upside movement. Until the budget gets
fixed, look to be a seller on rallies.
The weakness in the equity markets is triggered another
round of carry trade reversals this week which is helped pressure the Japanese
Yen. On Friday 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.Look for pressure on the Yen to continue if
equity markets continue to weaken.The
unraveling of the carry trade could have significant consequences for the
U.S. Dollar tried to break out to the upside against the
Canadian Dollar, but a geopolitical event on Friday forced traders to think
otherwise.Improvements in the U.S.
economy seem to be spilling over to the Canadian side of the border. This means
the March Canadian Dollar will become more sensitive to news which affects
their exports - gold and crude oil.If
the Iranian takeover of an Iraqi oil field develops into something, oil prices
could shoot up, taking the Canadian dollar with it.
The March Swiss Franc was down big this week. Traders not
only reacted to the possible hike in U.S.
interest rates but also to the growing debt issues in Europe.
Traders sold the Swiss Franc earlier in the week on concerns the sovereign debt
issues in Europe would adversely affect the
Swiss Banking system.Higher gold prices
could save the Swiss Franc from a hard fall.
February Gold finished the week marginally lower.Gold traders seem to be ignoring the stronger
Dollar while shifting their focus to the developing situation in the Middle East.Gold
traders appear to be hedging the possibility that the situation between Iran and Iraq will develop into something
major over the week-end. After holding yesterdayâ€™s low and regaining a key 50%
price at $1107.40, gold was able to mount a small rally to $1118.00. The chart
indicates that there is room to the upside with $1139.50 a possible target.
A geopolitical event could help March Crude Oil rally next
week.Itâ€™s been reported that Iranian
troops took over an Iraqi oilfield.This
news triggered a short-covering rally overnight but New York traders didnâ€™t chase the market
higher.This situation should be
monitored over the week-end because it will set the tone in oil markets next
week.If nothing develops then look for
the stronger Dollar and bearish supply/demand conditions to continue to
pressure crude oil.
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 19 Feb 2018
00:00 CN, US- Holiday Tue 20 Feb 2018
00:00 CN- Holiday A 10:00 US- ZEW Survey Wed 21 Feb 2018
00:00 CN- Holiday A All Day flash PMIs A 15:00 US- Existing Homes Sales A 15:30 US- EIA Crude AA 19:00 US- Fed Meeting Minutes Thu 22 Feb 2018 A 09:00 DE- IFO Survey A 09:30 GB- GDP AA 13:30 CA- Retail Sales A 13:30 US- Weekly Jobless Fri 23 Feb 2018 A 10:00 EZ- Final HICP AA 13:30 CA- CPI
John M. Bland, MBA co-founding Partner, Global-View.com
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.