User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday March 4, 2010 - 00:43:21 GMT
Forex Hound -

Share This Story:
| | Email

Fed Beige Book Triggers Late Session Equity Market Break

U.S. stock indices finished lower with the exception of the March E-mini S&P after failing to hold on to earlier gains. The break late in the session coincided with the release of Fed’s Beige book. At first trader reaction to the report was non-committal as it offered no new bullish economic news. After a delayed response, a sell-off began as if traders were saying “no bullish news is bad news”.


Earlier in the session, U.S. equity markets surged to the upside following the release of a better than expected ADP jobs report and a much improved ISM Services Index. The ADP figure came out at the low end of the range which gave investors a reason to believe that Friday’s Non-Farm Payroll figure may also show an improvement in the U.S. jobs situation.


The reversal to the downside in the NASDAQ and Dow could have been triggered by overbought conditions or position evening ahead of Friday’s Non-Farm Payrolls Report. The current chart set up makes the market vulnerable for a correction to the downside, but not necessary a change in trend.


Treasury markets weakened after U.S. jobs data showed improvement from the previous month and the ISM Services Index rose more than expected. Traders saw this as a sign that the U.S. economy is improving which could mean the Fed hikes rates sooner than expected. Investors also may have pared positions ahead of Friday’s Non-Farm Payrolls Report. Technically, the charts indicate a move to 116’04 is likely over the near-term.


April Gold rallied through and held a key 50% level at $1136.75. The current chart formation suggests that holding this level could trigger a further rally to the .618 retracement price at $1158.50. The direction of the Dollar will dictate the next move in Gold. May Silver turned the main trend higher on the trade through $16.96. Regaining the technical level at $17.09 was a sign of strength with $17.66 the next upside target.


Technically, the crude oil charts indicates plenty of room to the upside. Fundamentally, the weaker Dollar is helping to boost demand for commodities, but the increase in weekly crude oil inventories may be limiting the upside momentum.


On Wednesday, the U.S. Dollar lost ground to every major currency except the New Zealand Dollar. Early selling pressure triggered a change in trend when this index took out the last main top at 80.14. In the process a new lower top was formed at 81.34. The charts are indicating a break to 77.86 is possible over the near-term.


The March Euro rose on Wednesday to its highest level since February 17th after traders covered short positions and aggressive investors went long following the announcement that Greece managed to make additional budget cuts while increasing taxes in an attempt to shore up its dismal budget and gain favors from the European Union.


Greece’s new fiscal responsibility plan drew positive comments from Luxembourg’s Jean-Claude Juncker who said “Greece’s ambitious program to correct its fiscal imbalances is now credibly on track.”


Technically, the Euro turned the main trend to up on the daily chart for the first time since December 7th when the currency crossed the last main top at 1.3692. The action by Greece and the possibility of new government regulation of hedge funds could trigger a massive short-covering rally over the short-run to 1.4009. This is possible if a sizeable amount of the 50,000+ open shorts decide to cover their positions at the same time. Often, news driven downtrends end with the majority of the traders running for cover through one exit.


The strengthening Euro triggered some light short-covering in the March British Pound. This current move is not expected to lead to a change in trend however. The British Pound remains the weakest currency because of the U.K.’s wide budget deficit, soft monetary policy and political uncertainty.  Traders pared short positions on the belief that Greece would finally receive some bailout money from Germany and France.


The March Japanese Yen closed higher after taking out the last main top at 1.1295. A follow-through to the upside will trigger a test of the.618 retracement level at 1.1356. This market was strong despite increasing demand for risky assets. I’m still confused about the move in the Japanese Yen. What I think is happening is the Yen isn’t getting stronger, the Dollar is getting weaker.


The March Swiss Franc closed higher as traders bought the currency on the idea that a rally in the Euro would diminish the need for the Swiss National Bank to flood the market with cash in an effort to protect its export sector. Upside momentum could take this market to .9526 over the short-run.


The March Canadian Dollar continued its uptrend on Wednesday, encouraged by speculation that the Bank of Canada may raise interest rates sometime after June. Trader sentiment shifted to the long side of this contract after the Canadian government released a better than expected Fourth Quarter GDP Report earlier in the week. Upside momentum is building which puts this market in a position to test the January top at .9780.


The market is also rapidly approaching an area which previously raised concerns at the Bank of Canada. The BoC was concerned that the rapid appreciation in the Canadian Dollar would have a detrimental effect on Canadian exports. Since the current move has been justified because of the robust economic growth, it will be interesting to see if the BoC attempts another verbal intervention or lets the currency seek its own level.



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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final 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