Stock Traders Ignoring Forex Markets; Risk Bet Seems to be on
stock indices are trading better this morning ahead of the U.S. session. Although they are off
their highs, there seems to be enough demand for higher risk despite the
strengthening Dollar and the falling Euro and British Pound. This could mean
that traders are confident that the EU and Greece
are close to reaching an agreement regarding the budget deficit crisis or it
may be a vote of confidence in the U.S. economy. Traders may turn
against risk if the Euro continues to weaken.
economic reports may have some say in the matter. Personal income is expected
to show no growth while consumer spending is predicted to show a modest gain.
The ISM Manufacturing Index has been up for 6 straight months, but his month is
called flat. The predicted range is 55 to 60. Finally, Construction Spending is
called lower. The drop in home sales should have a negative influence on
construction spending. Early guesses for Fridayâ€™s Non-Farm Payrolls Report is
for a loss of 50,000 jobs.
June Treasury futures are trading lower. Traders donâ€™t seem
to be too concerned about risk in the pre-market trade. Look for strong
economic reports to send the June Treasury Bonds and June Treasury Notes lower.
A plunge in the equity markets is also likely to support the Treasuries.
The stronger Dollar is pressuring both April Gold and June
Crude Oil. Look for this trend to continue if the Euro and British Pound
continue to drop sharply.
The U.S. Dollar is expected to open higher this morning
based on its strong overnight performance. Risk sentiment appears to be waning
following early session strength. Commodity and equity linked currencies have
reversed course after trading higher most of the overnight session.
The weakest currency is the British Pound. Overnight the
March British Pound began to accelerate to the downside after running stops
under 1.50.Traders tried to establish
support at a major .618 level at 1.4854 but this also failed, sending the
market to 1.4780. The new resistance is the 50% level at 1.5271.
Politics added to the negative sentiment hurting the British
Pound this morning. Recent polls are indicating that the U.K. may have its first minority
government since 1974. Investors believe that this could hurt the countryâ€™s
efforts to cut its deficit.Also driving
the Cable lower are reports that the EU is close to a resolution of the Greek
budget issue. This helped trigger the early break in the British Pound when the
Euro strengthened suddenly.
The Wall Street Journal reported over the week-end that Germany and France
have a plan to bailout Greece
with as much as 30 billion Euros ($41 billion). This came on the heels of a
late session report on Friday by Bloomberg News which cited an anonymous source
claiming that the German state-owned bank KfW Group may buy up to 25 billion
Euros in Greek bonds as a precaution against other support means drying
Both stories indicate that a solution to the Greek budget
deficit crisis is near. This is helping to keep the March Euro inside a tight
range of 1.3692 to 1.3443. A breakout over the high end of the range will turn
the main trend to up. Breaking through the lower end of the range will reaffirm
the downtrend and could lead to an acceleration to the downside.
The recent weakness in the Euro seems to be making the
European Union nervous. In a statement released overnight, EU Monetary Affairs
Commissioner Rehn urged Greece
to announce more measures to shore up its budget soon. He also added that the
EU was â€śsure we will overcomeâ€ť the Greek fiscal challenge.
equity markets are a sign that investors may be holding on to the slight chance
that risk sentiment will remain strong throughout the trading day. This may be
the reason why the March Japanese Yen is trading lower this morning.Should equity markets turn down then look for
the Japanese Yen to strengthen.
The weaker Euro is helping to pressure the March Swiss
Franc. Once again, traders are taking a defensive stance against the Swiss
Franc in anticipation of a possible intervention by the Swiss National Bank.
The trend turned up last week when the Swiss Franc broke through a swing top at
.9334. Although there was little follow-through to the upside, the trend will
remain up unless the last main bottom at .9193 is violated. This is unlikely
unless the Euro makes a new move low.
Weaker Gold and Crude Oil are helping to pressure the March
Canadian Dollar. Traders are also expecting the Bank of Canada to leave
interest rates unchanged at tomorrowâ€™s meeting. There was early chatter that
the improving economy may lead the BoC to drop a few hints that interest rates
would rise shortly after June. Like the U.S., the Canadian economy is
improving, but low employment continues to remain a key issue.
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.
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.