Stocks Finish Higher as Traders Anticipate Bullish Employment Numbers
Equity markets erased earlier losses after the release of
the U.S. Weekly Initial Claims Report to finish higher for the day. Trading was
light, but nonetheless, todayâ€™s strength is probably a good indication that
investors feel that Fridayâ€™s report will be better than preliminary estimates.
Treasury futures traded mixed but inside of their recent
ranges as investors were reluctant to position themselves in front of Fridayâ€™s
U.S. Non-Farm Payrolls Report.Trading was
been light and directionless most of the day. The current range for March
Treasury Bonds is 114â€™16 to 116â€™05.March Treasury Notes have fallen into a range between 114â€™28 to 116â€™08.
February Gold was under pressure throughout the trading
session because of the stronger Dollar. The current chart formation suggests a
possible pull-back to $1108.10 - $1100.34.Downside momentum will depend on how strong the Dollar gets.The main trend is still up, however, with
$1151.30 a key objective on the upside.Thursdayâ€™s weakness was most likely profit-taking ahead of Fridayâ€™s
March Crude Oil closed lower as traders dumped commodity
related contracts because of the rate hike in China and greater demand for safe-haven
assets.By raising interest rates, China hopes to
curtail excessive lending practices and cool off the economy.Traders trimmed their recent long positions
on expectations of a drop in demand for crude oil. Technically, this market is
vulnerable to the downside with potential targets at 78.80 and 77.56.
The U.S. Dollar held on to most of its gains as traders
await Fridayâ€™s U.S.
employment report. On Thursday, the Weekly U.S. Initial Claims report showed
that fewer workers filed for unemployment benefits last week.This news helped boost an already strong
Dollar. The ability to hold on to its gains into the close may be an indication
that investors are anticipating a friendly U.S. Non-Farm Payrolls Report tomorrow.
Volume has dropped off noticeably which is a strong indication that the ranges
for the day have been made.
The U.S. Dollar erased early overnight losses to move higher
shocked the Forex markets with a surprise hike in interest rates. Chinaâ€™s
move to curb excessive lending and curtail price increases drove traders into
lower yielding, safe haven currencies.Chinaâ€™s
central bank sold 3-month bills at a higher interest rate for the first time in
The March Euro traded lower throughout todayâ€™s session as
demand for higher risk assets dropped following the rate hike in China.At the close, the Euro was hovering near a
retracement zone at 1.4350 to 1.4319.
The top-heavy March British Pound continued to erode support
overnight. Further downside pressure was triggered after the Bank of England
announced that interest rates would remain at 0.50% while leaving its asset
purchase program in check.Overnight
selling pressure took out weak longs who were trying to establish support at a
retracement zone at 1.6036 to 1.5988. If selling pressure continues tomorrow,
the most obvious downside objective is the recent bottom at 1.5825.
Trumping the BoE meeting was the on-going heated debate over
the budget deficit.Prime Minister
Gordon Brown and Conservative opposition leader David Cameron are currently
engaged in a heated discussion on how to handle the growing budget
Bearish comments from the new Japanese Finance Minister
helped trigger a sharp break to the downside in the March Japanese Yen
overnight.In addition, the friendly
Weekly U.S. Initial Claims number drove this contract to a four-month low.Overnight NaotoKan
said he wanted to see a weaker Yen.This
announcement is leading traders to believe Japan may be more inclined to stem
any sharp rise in its currency.Kan feels that his job
will be to keep the Yen at an â€śappropriate levelâ€ť.This is necessary to sustain demand for
Technically, the March Japanese Yen should remain weak as
long as this market can remain under the downtrending Gann angle at 1.0693
tomorrow.Based on the main range of
.9876 to .1.1774, traders should look for a retracement to 1.0825 to .1.0601
over the near term.
The stronger Dollar is helped pressure the Swiss Franc.
Todayâ€™s closing price reversal suggests that a new lower top has been formed at
.9766Based on the short-term range of
.9522 to .9766, traders should look for a minimum retracement to .9640 -
.9612.Taking out this zone should
trigger an acceleration to the downside.
The March Canadian Dollar continued to weaken after a
slightly lower opening.Todayâ€™s closing
price reversal indicates that a short-term top has been reached which could
trigger a minimum 2 to 3 day break. The current chart formation indicates a possible
break to .9510 - .9461 over the near-term. Weaker gold and crude oil prices
will continue to pressure this market.
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.
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.