User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday January 29, 2010 - 23:54:02 GMT
Forex Hound -

Share This Story:
| | Email

Stocks Ignore Bullish Economic Data; Turn Focus on Risk

U.S. stock indices had enough information in today’s bullish GDP report to mount a strong rally, but concerns about the debt crisis in Greece and a poor outlook for technology stocks led to a late session sell-off.


If the situation in the Euro Zone continues to escalate and capture the bulk of the headlines, then look for investors to turn more risk averse.  This will underpin the Dollar but pressure stock indices and gold.


The robust GDP report should have pressured the March Treasury Bonds, but traders didn’t bite on the move, choosing instead to take safe positions. This market closed above a key 50% level at 118’24, putting it in a strong position to rally further to the .618 retracement level at 119’24. A flight to quality rally is likely to get triggered if concerns about Greece’s ability to cover its debt escalate.


Bonds rallied overnight but found resistance at a major 50% price at 118’24.  This level is still holding as resistance. Bearish traders want to see this price hold in order to attract more sellers who could eventually drive this market to the down side objective at 116’06. 


April Gold closed inside last month’s range but lower for the month. This pattern suggests impending volatility and an expanded range with a bias to the downside. The stronger Dollar, low inflation and the expected drop in demand from China is likely to trigger a sharp break to the downside.


The short-term pattern suggests that March Crude Oil contract is trying to establish support near the December bottom at 72.53. Longer-term charts indicate a break to 65.38 is possible. Bullish oil traders got a better than expected GDP figure on Friday, but couldn’t hold on to early gains. This report indicates the economy is expanding, but not enough to trigger an increase in demand.


The U.S. Dollar closed out the month of January sharply higher as aggressive buyers helped the Greenback surge to the upside following Friday morning’s better than expected U.S. GDP report. The report which blew out forecasts encouraged traders to buy with both hands as investor sentiment turned more optimistic toward a strong U.S. economic recovery.


Earlier in the week, the Dollar was bolstered by a more upbeat statement by the Federal Reserve. Although the FOMC left interest rates unchanged, it did change its outlook on the economy from “weak growth” to “moderate growth”.  The markets responded by driving up the Dollar in anticipation of higher interest rates and a much better outlook for the economy going forward.


Most of the time this week, the Dollar showed strength as investors became more optimistic about the U.S. economy, but demand for safety because of concerns over sovereign debt issues in Greece and Portugal also contributed greatly to the rally.  These problems are likely to linger over into next week and until a viable solution is reached.


The March Euro finished the month sharply lower and in a position to test 50% of last year’s July to November rally.  The main range is 1.2329 to 1.5144 with retracement levels at 1.3800 to 1.3483. The combination of an improving U.S. economy and concerns over sovereign debt issues in Greece and Portugal pressured the Euro. Look for this down trend to continue until this market becomes oversold or until Greece and the European Union reach a solution on how to shore up the Greek budget.


The March British Pound closed slightly lower for the month. The lack of growth continues to plague the U.K. economy.  On Friday, the Pound finished sharply lower following a robust U.S. GDP Report. The long-term chart indicates that this market may be vulnerable to a correction back to 1.5271. Watch for an acceleration to the down side to begin following a break down under 1.5706.


The March Japanese Yen finished the week slightly lower, but gained ground for the month. Renewed strength in the U.S. economy helped the Dollar rise sharply over the Yen on Friday. For the month, this currency traded between two 50% levels at 1.0815 to 1.1217.  A breakout over either one of these prices in February is likely to trigger a big move.  At times, the Yen showed weakness because of improvements in the U.S. economy.  Other times, the Yen strengthened when investor sentiment shifted toward safety. Something is going to have to give soon.  Either investors are going to sell the Yen hard as the economic outlook for the U.S. improves, or the Yen will rally sharply higher if traders turn more risk averse.


The March Swiss Franc turned the main trend to down on the weekly chart, following a breakdown under .9522.  In addition, this market posted its second consecutive lower month and now appears to be on pace for a break to .9152.  Not only was the strengthening Dollar softening the market, but the weakening Euro versus the Swiss Franc also helped to trigger concerns that the Swiss National Bank was getting ready to intervene.  One of the main concerns for the SNB is its appreciation versus the Euro.  In this case, the sovereign debt issues in Greece and Portugal have helped weaken the Euro enough to make the Swiss France look strong.


The monthly March Canadian Dollar chart formed a closing price reversal top which indicates the possible start of a huge break to the downside. This type of pattern usually suggests the formation of a major top.  In addition, following the formation of this pattern the market breaks 50% of the last rally over a 2 to 3 month period.  This projects a possible move to .8765 by April.  The stronger U.S. economy coupled with weaker crude oil and gold prices is not very supportive for the Canadian Dollar.  In January, the Bank of Canada reiterated its stance against a stronger currency and vowed to take whatever action it deemed necessary to prevent a strong currency from derailing the economic recovery.


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."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

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

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 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.

Contact us

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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

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