The U.S. Dollar finished lower against a basket of
currencies for the fifth straight day in sluggish trading. Contributing to the
weakness were reports that U.S. Jobless Claims rose last week by the largest
amount in five weeks and U.S. Retail Sales were down.
Both reports show that employment is still a major issue
affecting the economy as well as consumer spending.Traders pressed the Dollar most of the day
and wouldnâ€™t allow it to get away by too much on the upside. Todayâ€™s economic
data suggests the Fed will keep interest rates lower for a prolonged period of
time which is once again driving up demand for higher yielding assets.
The European Central Bank left interest rates at 1% as
expected. The EUR USD weakened a bit after ECB President Trichet failed to
spark interest in the upside following his assessment of economic
conditionsin the Euro Zone region. The
trading range was tight most of the day following the report. The chart
indicates 1.4680 is still a possible upside target.
The AUD USD finished the day higher, but failed to move much
to the upside following a strong surge overnight. Fresh buying and
short-covering drove the Aussie higher following the release of a robust
Australian jobs report early in the trading session. The Australian jobless
rate eased in December while the economy added close to three times as many
jobs as initially forecast.
The size of the rise in the number of jobs has increased the
chances that the Reserve Bank of Australia will raise interest rates
at its next meeting on February 2nd. Some economists are forecasting a 5.50%
rate by December 2010.Gains may have
been limited by traders who believe a tighter monetary policy in Australia and an end to Chinaâ€™s stimulus
measures will dampen Australian exports.
The bullish action in the Australian Dollar spread to the
NZD USD.The Kiwi traded sharply higher
overnight but remained rangebound most of the New York session.
The weak U.S.
economic data helped turnaround the USD JPY after a higher opening.The failure to reach a 50% level at 92.24 was
the first sign of weakness.The second
sign would have been a trade through the low for the week at 90.72, but this
price held as support.A trade through
this level tomorrow will put the market in a position to weaken further with
89.30 the next downside target.
The USD CHF tried to breakout to the upside through a 50%
price at 1.0212 before failing to attract aggressive buyers.Downside momentum pushed it back inside a
retracement zone with 1.0143 the next potential downside target.Weak U.S. economic data made the Swiss
Franc more attractive. Losses were most likely limited because of the threat of
intervention by the Swiss National Bank.
The USD CAD worked to a new low for the week. Greater demand
for gold, copper and natural gas helped to support the Canadian Dollar. Look
for this currency to remain strong as long as there is demand for raw
materials. Short position traders have to be careful down in this area because
of possible action by the Bank of Canada to weaken the Canadian Dollar. 1.0205
was the low in October at the time the BoC issued a stern warning regarding the
price of the currency.
The GBP USD traded higher after erasing earlier losses. The
strong close has this market in a position to test a 50% price at 1.6355.Upside momentum could take this market to the
next level at 1.6478. 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 memberâ€™s call for higher interest rates later in the year.
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.
Mon 10 Sep 2018 AA 08:30 GB- GDP, Trade, Output Tue 11 Sep 2018 AA 08:30 GB- Employment Decision A 09:00 DE- ZEW Survey Wed 12 Sep 2018 A 12:30 US- PPI A 14:30 US- EIA Crude A 18:00 US- Beige Book Thu 13 Sep 2018 A 1:30 AU- Employment AA 11:00 GB- Bank of England Decision AA 11:45 EZ- European Central Bank Decision A 12:30 US- Weekly Jobless AA 12:30 US- CPI Fri 14 Sep 2018 A 08:30 GB- GDP AA 12:30 US- Retail Sales A 13:15 US- Industrial Production AA 14:00 US- prelim University of Michigan
John M. Bland, MBA co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
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.