User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday January 12, 2010 - 14:00:04 GMT
Forex Hound -

Share This Story:
| | Email

Stocks Weaken on Alcoa Report; China Monetary Policy

Global stock markets weakened overnight after Alcoa released mixed results following yesterday’s close.  In addition, news that China may begin raising interest rates is pressuring demand for higher yielding assets. Commodity related stocks may feel pressure today because of an expected drop in demand for raw materials. Bank stocks may also drag the markets lower because of a proposed fee by the Obama administration on banks that received federal aid during the credit crisis.  The charts indicate the March E-mini S&P 500 is set-up for a near-term break to 1129.00 over the near-term.


March Treasury Bonds are expected to see buyers today following a pick-up in demand for safer assets.  The current chart formation is potentially bullish because of the support base that has been built. Watch for a sharp acceleration to the upside following a breakout over the last main top at 116’05.


February Gold is faltering overnight following a rally to $1151.30. This move completes a 50% retracement of the $1227.50 to $1075.20 range created from December 3rd to December 22nd.  The stronger Dollar and news that China may begin removing stimulus from the economy is helping to curtail demand for higher risk assets.


Yesterday’s closing price reversal to in March Crude Oil was confirmed overnight.  The current chart formation suggests that this market is set-up for a break to 78.99 over the near-term.  News that temperatures on the East Coast are expected to moderate is causing speculators to take profits in heating oil after a huge run-up.  In addition, traders are speculating that demand from China is likely to drop if its central bank begins hiking interest rates and removing government stimulus.


The U.S. Dollar posted a strong gain overnight against most major currencies as demand for safer assets rose amid speculation that Chinese borrowing costs were set to rise.


A couple of overnight news stories gave the Dollar a boost, both related to China.  The first news story that supported a stronger Dollar was the report that China allowed its first bond yield hike in 20 weeks.  This move by the Chinese central bank served as notice to market participants that bank officials are willing to execute a pre-emptive strategy to prevent the economy from overheating.  This strategy would also include the withdrawal of stimulus measures.


A story by Reuters reporting that China Investment Corp. executive Peng Junming said the U.S. Dollar was likely to appreciate from current levels also provided a boost to the Greenback.  He also reportedly said that both China and the U.S. were on track to raise interest rates in the second half of the year.


Reuters quoted Junming as saying, “I think the Dollar is at its bottom now.  There will be very limited space for the Dollar to drop further.”


The news service also reported his view on the Japanese Yen.  “The Yen is what, I think, has the worst outlook. The Yen will continue to drop, unlike the Dollar, which will not serve for long as a source of funding carry trades.”


Weaker global equity markets also helped buoy the Dollar overnight. This could mean that the inverse relationship between stocks and the Dollar may be re-emerging after taking a brief rest during December. 


There is only one major U.S. economic report today.  Economists are predicting that the November U.S. Trade deficit widened during November.  The data used in this report took place when the Dollar was falling rapidly so it shouldn’t have that great of an impact on today’s trade since the data is stale. Nonetheless, traders should watch for a reaction only if the report is extremely out of line with pre-report guesses.  Economists are predicting that the trade deficit widened to $34.6 billion from $32.9 billion in October.  The fact that imports rose faster than exports is directly attributable to strong demand for foreign goods.


The news from China helped weaken demand for higher yielding assets and consequently the March Euro which had been poised to move higher in the wake of the soft U.S. jobs outlook from Friday.  Risk appetite could take a hit today, setting up a possible decline over the short-run back to 1.4386.  A turnaround in demand for higher risk assets will put the Euro back on pace to complete a 50% retracement back to 1.4680.


The March British Pound is expected to opening slightly better after falling overnight following a report which showed Britain’s property market unexpectedly lost momentum in December.  The overnight resurgence in the counter-trend rally has helped re-establish support at 1.6036. The main trend is down and will turn up following a rally through the last main top at 1.6240.


Demand for lower-yielding assets is helping to support the March Japanese Yen.  The overnight buying spree has helped create a new main bottom at 1.0679.  Based on the monthly range of 1.1774 to 1.0679, the chart indicates plenty of room to the upside with 1.1273 a potential upside target. 


Mixed Japanese economic data hit the market overnight.  It was reported that the current-account surplus grew more than expected in November.  A second report showed that bank lending dropped for the first time in four years.  This was a sign that deflation may be having its effect on loan demands.


Falling demand for higher yielding assets is helping to pressure the March Swiss Franc.  In addition, traders are still concerned that the recent rapid rise in the Swiss Franc versus the Euro may bring an intervention by the Swiss National Bank to the market. At this time the Swiss Franc is ping-ponging inside of a retracement zone at .9806 to .9873. 


The March Canadian Dollar is falling overnight in a follow-through break following yesterday’s closing price reversal top.  The chart formation suggests that a 50% retracement of the recent rally to .9510 is likely over the near-term.  The main trend is up, but investors have been taking profits since late yesterday following comments from Canadian Prime Minister Harper.  He issued a statement expressing his concerns about the rapid rise in the Canadian Dollar and its possible negative effect on the economy.  His comments served as a verbal intervention.  Weaker crude oil and gold could help pressure the Canadian Dollar also today.



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.

Upgrade Your Trading experience. Try the Amazing Trader

Trading Ideas for 16 February 2018

Upgrade Your Trading. Try The Amazing Trader

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

Fri 16 Feb 2018
00:00 CN- Holiday
AA 09:30 GB- Retail Sales
A 13:30 US- Housing Starts/Permits
A 15:00 US- University of Michigan

John M. Bland, MBA
co-founding Partner,
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.



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