U.S. Stock Traders Remain Cautious Ahead of Economic Reports
Despite a pick-up in demand for higher risk assets and
higher Asian equity markets, U.S.
stock indices are predicting a flat to lower opening. Traders seem to be taking
a cautious approach before the release of this morningâ€™s U.S. GDP, Chicago PMI,
consumer confidence and existing home sales reports.
Treasury markets are trading higher this morning. Investors
appear to be anticipating U.S.
economic reports to come out lower than expected. This will keep the pressure
on the Fed to keep interest rates down.
The weaker Dollar is helping to support both April Gold and
April Crude Oil. A stronger Dollar is likely to keep downside pressure
commodity markets. Any flare-up in Greece should send traders into
Concerns about sovereign debt issues in Greece eased overnight helping to
increase demand for higher risk assets. In addition, good economic news from Japan and higher stock markets in Asia helped increase optimism over the global economic
With tensions easing regarding the sovereign debt problems
in some of the European Union nations, Forex trader focus will be on U.S.
Out of the box first this morning will be the final U.S.
Fourth Quarter GDP Report. The consensus range is 5.4% to 6.0%. The preliminary
estimate at 5.7% is todayâ€™s target. With demand for higher risk assets higher
this morning, a better than expected GDP number may pressure the Dollar. Some
feel however that a better number will send the Dollar higher because the
improving economy will indicate the Fed may have to raise interest rates sooner
The Chicago Purchasing Managerâ€™s Index due out at 8:45 CT is
projected to be in a range of 55.8 to 64.3 with the consensus at 60.Traders want to see continued strength in
this index as it indicates an improving economy. Like the GDP figure, it
difficult to project at this time how the Dollar will react. It will either go
up because of the improving economy or down because of increased appetite for
of Michigan Consumer Sentiment
figure is expected to come in at 73.7, inside the range of 73.0 to 75.0.
Investors will be watching the expectations component of this index for clues
as to how consumers feel about the economy. High unemployment and worries over
jobs may have a negative influence on this monthâ€™s index.
Finally, Existing Home Sales should come in at 5.5 million.
A weaker than expected number should help to drive investors into the U.S.
The March Euro is up overnight but trading inside Thursdayâ€™s
range. In fact, Wednesdayâ€™s range of 1.3692 to 1.3497 has held this market in
check for two days. This formation indicates impending volatility. Watch for a
break-out on either side of the market. Traders are likely to chase the market
once it commits to a direction. Overnight, Euro Zone consumer inflation was 1%
as predicted.On Thursday, the Euro
firmed after reports of a Greek bond issuance next week surfaced. Traders feel
that strong support for this bond issuance will indicate the European Union is
close to a solution for Greeceâ€™s
deficit problems. The rally took place despite reports that the S&P Corp.
was poised to cut Greeceâ€™s
Despite a rise in Fourth Quarter GDP, the March British
Pound is trading lower overnight. This is an indication of just how weak the U.K.
economy is. Traders still feel economic problems, political woes and the
possibility of more quantitative easing by the Bank of England may be too much
to overcome in the short run.
Greater demand for higher risk assets is helping to pressure
the Japanese Yen while boosting the Canadian Dollar, Australian Dollar and New
Reported improvements in Japanese retail sales and
industrial production helped boost stock prices in Asia
which in turn led to the pick up in demand for higher yielding assets.
Finally, the improving Euro is helping to ease the
possibility of an intervention by the Swiss National Bank. This is fueling the
strength in the USD CHF.
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production
POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision
John M. Bland, MBA co-founding Partner, Global-View.com
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.
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.