stocks finished higher despite a shift in sentiment toward less risky assets.
For most of the day, the indices traded inside of a tight range on low volume.
Traders kept a lid on gains and a floor on losses ahead of Fridayâ€™s U.S.
Non-Farm Payrolls Report.
Demand for lower yielding assets helped give June Treasury
Bonds a boost on Thursday. Trading was light and volume was low ahead of
jobs report. The Charts indicate the potential for a rally to118â€™17 if support
can be established at 117â€™23.
The stronger Dollar helped pressure both April Gold and June
Crude Gold failed to hold support at $1137.70 and broke.The next downside target is pegged at
June Crude Oil finished lower but volume was thin. The
supply and demand fundamentals support a weaker market, but speculators
continue to believe that stronger Euro will drive up demand for energy assets.
A break under 80.15 could lead to an acceleration to the downside.
The U.S. Dollar was up sharply against all major currencies
as investors flocked to safer assets following a poor housing report and
concerns about Greeceâ€™s
ability to shore up its budget deficit.More the most part, it was a quiet trade on Thursday as many big Forex
players stood on the sidelines ahead ofFridayâ€™s U.S. Non-Farm Payrolls Report.
The March Euro was stable this morning after reports
surfaced that investor demand was strong for the newly issued Greek 10-Year
Bonds.This had the potential to be a
major vote of confidence for Greece,
but the euphoria was short-lived.The
Euro began to fall apart after the European Central Bank left interest rates
unchanged and ECB President Trichet said that growth in the Euro Zone would be
Traders fear that a slow down in the Euro Zone will hamper
the ECBâ€™s ability to raise interest rates. This will lead to deflation as most
countries will be forced to cut spending. In addition, the Euro may lose the
interest rate differential battle if other countries such as Canada and the United States begin to withdraw
stimulus and hike their benchmark interest rates.This was most likely the primary reason
behind Thursdayâ€™s selling pressure.
On Thursday, the Bank of England left interest rates
unchanged along with its quantitative easing program. Some investors felt going
into the report that the BoE would either expand or extend its asset buyback
program. Nonetheless, the March British Pound sold-off mostly due to the
weakness in the Euro. Other bearish factors pressuring the British Pound are
the weak U.K.
economy, political uncertainty and the wide budget deficit.
The March Japanese Yen finished lower despite increased
demand for lower yielding assets. Technical factors may have contributed the
most to Thursdayâ€™s loss after strong selling came in following a test of a
major Fibonacci retracement level at 1.1356.In addition, the failure to accelerate to the upside after breaking a
previous swing top at 1.1295 may have scared weaker longs out of the market.
The strong close helped form a reversal top which could trigger a further
decline to 1.1099 over the near term.
The March Swiss Franc finished sharply lower due to the
weakness in the Euro. Traders once again feel that an intervention by the Swiss
National Bank is imminent as it tries to protect its valuable export market.
Weaker gold, crude oil prices and oversold conditions
helped pressure the March Canadian Dollar after almost a week long rally. Weak
longs pared positions over the fear that the Bank of Canada may â€śverbally
intervene at current levels. The BoC has in the past talked down the Canadian
Dollar after a rapid rise over concerns that a strong currency would damage
demand for Canadian exports.
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.