User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday February 1, 2010 - 23:53:53 GMT
Forex Hound - www.forexhound.com

Share This Story:
| | Email

Equity Markets Finish Higher on Friendly U.S. Economic Data

U.S. equity markets rallied late in the session to close above key retracement points as traders set aside their recent worries and returned from the sidelines. The markets opened firm then surged to the upside following a better than expected U.S. manufacturing report. Good news from the consumer side also helped to support the rally.

 

The March E-mini S&P 500 found support at a .618 retracement price at 1069.50 early Monday morning, but it is the close over the 50% price at 1084.50 which should trigger further upside movement. The charts indicate a rally to 1107.00 is likely over the near-term.

 

Greater demand for risk is helped to pressure Treasury futures. Fear had been driving investors into the safety of the March Treasury Bonds and March Treasury Notes. Better than expected U.S. economic reports also contributed to the weakness. These reports are signs that the U.S. economy is improving moves the Fed closer to hiking interest rates which is bearish for Treasury prices. The bigger picture still indicates that March Bonds are finding resistance inside a major retracement zone at 118’24 to 119’24. A close under 118’24 will indicate weakness that could trigger the start of a break back to 116’06.

 

The weaker Dollar helped to support April Gold. Short-traders continue to respect the December main bottom at $1076.50. Oversold conditions have made this market ripe for a short-covering rally.  This is likely to happen if the Dollar weakens further. Look for the rally to find resistance at $1120.50 to $1131.40.

 

The upbeat U.S. manufacturing report helped drive March Crude Oil higher on Monday. Demand for higher risk also helped support the market. Oversold conditions encouraged shorts to lighten up their positions as this market approached the December bottom at 72.53. A weaker Dollar is also likely to help rally crude oil. The bigger picture still suggests weakness, however, because of low demand and high supply.

 

The U.S. Dollar lost ground against most of its counter-parts as better than expected U.S. economic data sent money into higher risk assets while paring the safety premium built into the Dollar last week.

 

The Dollar was under pressure from the get-go this morning following a round of position squaring overnight in the European and Asian markets. Many traders were lightening up on overbought positions in the Dollar in anticipation of a choppy two-sided trade ahead of this Friday’s U.S. Non-Farm Payrolls Report.

 

This morning the Dollar got a little boost following the release of two better than expected economic reports, but was unable to build on the small gains. The reports showed a rise in consumer spending in December and an increase in U.S. manufacturing data last month. Although the Dollar was down today, there will be a point in the near future where the Greenback begins to benefit from the improving U.S. economy.

 

The March Euro traded better throughout the U.S. session after firm overnight trading. Relaxed concerns about the fiscal crisis in Greece triggered today’s short-covering rally. Investors expect to hear more upbeat news on Wednesday when the European Union releases its official opinion on Greece’s efforts to shore up its budget. Upside momentum could take this market back to the last main bottom at 1.4029. Key support remains 1.3800. This price represents a major 50% retracement level.

 

Concerns over a poor economy, growing fiscal deficit and the upcoming U.K. election helped to pressure the March British Pound. Traders also remain pessimistic about how the economy will respond following the ending of the Bank of England’s quantitative easing program. Today’s trade indicates that bearish traders respected the late December main bottom at 1.5832.

 

The March Japanese Yen traded lower following reports which showed improvement in the U.S. economy. Traders took the risk premium off the table and returned to looking at the improving economic data as the main reason to own the U.S. Dollar versus the Japanese Yen. The chart indicates that upside momentum could trigger a rally back to 1.0950 over the near-term.

 

The March Swiss Franc finished higher. Better than expected U.S. economic reports helped trigger an intra-day sell-off, but this didn’t amount to much. Monday’s trading action shows that conditions have calmed after last Friday’s surge to the upside. The weaker Euro versus the Swiss Franc late last week may have triggered an intervention by the Swiss National Bank. Traders should continue to monitor the situation in Greece to see if it triggers another sharp break in the Euro. Look for renewed upside pressure on the U.S. Dollar if the Euro continues to strengthen. Based on current conditions, the Swiss Franc may rally back to .9645 before finding resistance.

 

Firmer equities, gold, and crude oil helped the March Canadian Dollar form a closing price reversal bottom. The Canadian Dollar weakened last night, but sellers stopped short near the December bottom at .9303. Demand for higher risk and overbought conditions on Monday helped trigger today’s short-covering rally. The chart indicates this market is likely to retrace its recent break with .9553 the next likely target.

 

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 15 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Thu 14 Dec
23:50 JP- Tankan Survey

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --23:50-- JP- Tankan Survey
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