User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday January 14, 2010 - 13:27:58 GMT
Forex Hound - www.forexhound.com

Share This Story:
| | Email

Equity Markets Flatten Out Ahead of U.S. Retail Sales Report

Equity markets are flat as traders await this morning’s U.S. Retail Sales Report.  Based on previously released new motor vehicles sales and December Chain-Store Sales, traders should expect a healthy report.  Look for retail sales to grow by 0.4% and retail sales less autos to increase by 0.2%. Today’s jobless claims report should show an increase of 3K with a range of 400K to 450K.  

 

A bullish report is likely to trigger an upside breakout over this week’s highs.  The March E-mini S&P 500 is currently in a position to take out its recent minor top at 1148.00.  A weaker report may trigger a set-back to 1129.00, but investors are likely to step in to buy this break.

 

March Treasury Bonds sold off sharply yesterday as traders dumped safe assets in favor of higher risk assets.  A bullish Retail Sales Report is likely to pressure T-Bonds today as traders will once again begin to factor in the possibility of a Fed rate hike.  A weak report should be supportive if investors sell off higher risk assets.  116’05 should act as a pivot price today.

 

The weaker Dollar is helping to support February Gold.  Traders also appear to have shaken off the negative news from China from earlier in the week.  On Tuesday, China made a decision to raise reserve requirements. Traders believe this will lead to a drop in demand for commodities, causing gold to lose its appeal as a hedge against inflation.  Technically, a new short-term range has been created at $1163.00 to $1118.50. This range creates a retracement zone at $1140.70 to $1146.00 which is the next upside target.

 

March Crude Oil is trading a little better overnight following a late session short-covering rally on Wednesday.  Yesterday, the market found support at a major 50% price at 78.99.  Breaking this level will trigger a further decline to 77.70.  Oversold conditions could trigger a retracement rally to 81.63. A surprise gain in U.S. distillates and crude stocks were the catalysts behind yesterday’s weakness. 

 

The March Euro is trading flat as Forex traders await this month’s European Central Bank policy decision. Investors are looking for the ECB to leave interest rates at the historically low 1% level.  At the same time, the market will be looking for comments on the debt problems in Greece, Portugal and Spain.  Expect the language of the report to be dovish in tone. 

 

After the release of the ECB policy statement, central bank President Trichet is expected to comment on the European Union debt issues, the European banking system and the sluggishness of credit in the Euro Zone region.  Trichet’s comments are likely to be market moving especially if he comes down hard on the countries experiencing debt problems.

 

Technically, the Euro is trading in a range. The main trend is down, but this market still has the potential to rally to 1.4680, to complete a major 50% retracement.  On the downside, 1.4386 remains a short-term target.

 

Demand for riskier assets is helping to give the pressure the March Japanese Yen.  With risk sentiment back on, the Yen has room to fall. Traders are shifting once again to a risk demand environment because the stock market continues to remain strong and the prospects for a rate hike by the Fed diminished.

 

Overnight reports, which led to the drop in the Japanese Yen, highlight the country’s reliance on exports. Last night’s reports showed that producer prices fell for the 12th straight month and machine orders unexpectedly dropped. These reports indicate that the government is likely to take more action to combat deflation in an attempt to revive economic growth.  Look for the Japanese government to implement more monetary easing and fiscal policies to fight deflation.  This means that it would be in the country’s best interest to promote a softer Yen at this time.

 

The fear of an intervention by the Swiss National Bank and less demand for lower risk assets are the conflicting stories keeping the March Swiss Franc inside of a tight trading range. For the third straight day, the currency is ping-ponging inside a 50% price at .9806 and a .618 price at .9873. Technical factors are building which suggest that traders are likely to “go the way of the move”.  This means a break-out to the upside is likely to trigger a rally to .9910 and an acceleration to the downside could drive this market to .9645. 

 

The March Canadian Dollar is trading flat overnight.  Greater demand for gold, copper and natural gas, three commodities which provide almost half of Canada’s export revenue are helping to support the Canadian Dollar. Look for this currency to remain strong as long as there is demand for raw materials. 

 

The inability of the Canadian Dollar to rally further is a direct result of the comments from Canadian Prime Minister Harper who earlier in the week said he was concerned about the rise in the Canadian Dollar and its negative effects on the economy.  Traders seem reluctant to challenge the PM at this time out of fear of possible intervention by the Bank of Canada. 

 

The March British Pound is trading flat to lower ahead of the New York opening.  The British Pound turned the main trend to up on the daily chart earlier in the week when it crossed a main top at 1.6240.  This move was primarily driven by a Bank of England member’s call for higher interest rates later in the year.  Furthermore, traders are beginning to believe that the need for further stimulus has dissipated.  The first upside objective is a 50% level at 1.6355, followed by 1.6478.  A weaker market today could trigger a short-term retracement to 1.6104. 

 

 

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