The U.S. Dollar closed sharply higher for the week, boosted
by a weaker Euro, news that China
was tightening its monetary policy and an increase in demand for lower yielding
assets. Late in the week, the Dollar flattened out after President Obama
proposed restrictions on financial institution trading. The early read is that
investors feel the proposal is Dollar negative and in the long-run may
discourage investors from buying U.S. assets.
The EUR USD was under pressure all week as concerns about Greeceâ€™s
budget deficit spiraled out of control as investors began to factor in the
possibility of a default. Matters werenâ€™t helped by the European Central Bank
and European Unionâ€™s refusal to offer any help, although a rumor late in the
week seemed to indicate that some sort of loan was going to be made available.
This matter is not expected to go away and may even escalate if similar
problems develop in Spain
The GBP USD started the week strong, but weakened late in
the week after a series of negative economic reports made investors realize
that the U.K. economy still has a long way to go to catch up to other major
nations. On Friday, it was reported that retail sales were better, but missed
The USD JPY had a volatile week before finishing sharply
lower. Early in the week, the Dollar rallied versus the Yen on better economic
news.Late in the week, however, the
Japanese Yen took off to the upside following a huge break in U.S. equities
and a shift in sentiment by investors to lower risk assets. President Obamaâ€™s
plan to curtail trading by financial institutions is likely to make lower
yielding assets more attractive to the benefit of the Yen. A rapid rise in the
Yen is likely to draw a stern comment from the Bank of Japan which favors a
The USD CHF finished the week higher, but short-term
overbought conditions could lead to a sell-off early next week. The combination
of overbought conditions and less demand for the Dollar helped to apply the selling
pressure. The Swiss Franc is especially sensitive to the Euro at this time.
Watch for a possible intervention by the Swiss National Bank if the Swiss Franc
appreciates too much versus the Euro.
The extreme sell-offs in gold, crude oil and equities helped
boost the USD CAD for the week.In
addition, the Bank of Canada voted to maintain its stimulus measures which put
additional pressure on the Canadian Dollar. The BoC also expressed its concerns
with the recent rapid rise in its currency, saying a high value would be
detrimental to the economic recovery.
Commodity currencies such as the AUD USD and NZD USD were
hit hard this week after it was reported that China asked banks to stop lending
money until the end of the year. This served as a sign that China was
preparing to implement a tighter monetary policy. Less demand from China is likely to slow down both the Australian
and New Zealand
Aussie traders adjusted prices downward in anticipation the
Reserve Bank of Australia
would leave interest rates unchanged at its next meeting on February 2nd. The
Kiwi fell when it was reported that the economy was weaker than expected. This
news lessened the chance for a rate hike sooner than the late 2010 target date.
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.
Tue 19 June 2018 A 12:30 US- House Permits/Starts Wed 20 June 2018 A 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude Thu 21 June 2018 AA 11:00 GB- Bank of England Decision A 12:30 US- Weekly Jobless Fri 22 June 2018 AFlash PMIs
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.