Besides news regarding the debt crisis in Europe,
futures and Forex traders will be focusing on todayâ€™s Challenger jobs report
and the ADP private sector jobs report for direction. Traders expect the ADP
report to show a loss of 20,000 jobs. An amount greater than 20,000 should
support the Dollar as it will indicate a weaker economy.Later in the day, the Fed releases the Beige
Book of economic conditions.
equity markets are trading flat to lower ahead of the job data reports. In
addition, traders are reacting to the mixed news that is coming out of the Euro
Zone. This news seems to be changing by the hour which is helping to create
investor indecision and some light volatility. Yesterday U.S. stock
indices opened higher but failed to maintain the upside momentum throughout the
day and weakened into the close. Investors seem to be nervous about holding
risky positions which could lead to a profit-taking break today. Worse than
expected jobs data is expected to lead to an acceleration to the downside.
Treasury markets are trading a little better in anticipation
of the weak jobs data. News that the economy lost more jobs than expected could
trigger a strong rally. This would be an indication of what to expect following
the release of Fridayâ€™s U.S. Non-Farm jobs data.
April Gold and June Crude Oil are trading higher in
anticipation of a rally in the Euro and a drop in the Dollar. Last night gold
rallied through the 50% retracement level at $1136.75 which stopped the market
on Tuesday, but failed to attract strong buying which should have driven this
market to the .618 level at $1158.52. Gold traders may be ahead of the rest of
the markets in anticipating a weaker Dollar.
The March Euro is firming overnight after Greece
announced more budget cuts in an effort to sway the European Union into
approving its bailout package.The new
plan includes higher taxes and pay cuts for government officials. Greece
has been making an effort to shore up its fiscal deficit in order to convince
the EU and investors that it is committed to taming its budget crisis. At the
same time, there is talk that Greece
is prepared to go to the International Monetary Fund if the EU fails to come
through with sufficient aid.
Technically, the Euro confirmed Tuesdayâ€™s closing price
reversal bottom with a follow-through rally last night. The current rally is
getting close to the last main top at 1.3692. A trade through this level will
turn the main trend to up for the first time since December 7th, 2009.With a record amount of short positions
against the Euro, a change in trend and a resolution to the Greek budget crisis
could trigger the start of a massive short-covering rally back to 1.4000. Gains
could be limited if shorts donâ€™t budge and if the developing deficit crisis in Spain
flares up. Talk is circulating that hedge funds may face new regulations. If
this story proves to be true then look for the short-covering rally to begin
The March British Pound is gaining back some of its loss
from earlier in the week because of the firmer Euro and on speculation that
capital will stay in the U.K.
if Prudential PLCâ€™s takeover of AIA Group, Ltd. is delayed. The developing move
looks like short-covering rather than trend changing. The poor state of the U.K.
economy, its budget deficit and a dovish monetary policy should continue to
keep a lid on appreciation. Furthermore, concerns that the Labor Party may gain
a majority stake after the upcoming election should continue to keep downside
pressure on the British Pound.
The Dollar is trading slightly lower against the Yen
overnight as traders remain a little tentative that a resolution to the Greek
budget crisis will be reached soon. After failing to extend gains to a key .618
price level at 1.1356, downside pressure is helping to push the March Japanese
Yen toward the 50% support level at 1.1227. Selling pressure came in last night
after a break through the last top at 1.1295 failed to encourage more buying. A
closing price reversal top today or a break under the 50% level at 1.1227 will
be a sign that a short-term top has been reached.
The rally in the Euro is helping to support the March Swiss
Francs. Traders are buying this currency in anticipation of a deal between Greece and the
European Union. A stronger Euro reduces the need for the Swiss National Bank to
intervene to protect its economy. The charts indicate that upside pressure
could take this market up to .9526 over the near term.
The March Canadian Dollar is trading higher, but inside of
yesterdayâ€™s range. Upside pressure is coming from a pick-up in demand for
higher risk assets as investors feel more confident that Greece and the
European Union will reach a bailout agreement.Yesterday the Bank of Canada voted to leave interest rates unchanged but
left open the door for a rate hike after June if the economy continues to heat
up. Earlier in the week it was reported that Canadian GDP grew by 5.0% versus
pre-report guesses of 4.2%.
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.