The Euro finished lower on reports that a few Euro Region
finance ministers are rejecting the idea of a bailout for Greece. Over the weekend ahead of
the start of todayâ€™s two-day meeting in Brussels,
German Finance Minister Schaeuble and French Finance Minister Lagarde
downplayed the possibility of a bailout package. This news was contrary to
reports last week which speculated on a $41 billion bailout proposal from
German and France.
The failure to obtain financial aid could be a blow to the
Greek economy as it tries to implement austere budget cutting measures.
Pressure could continue on this currency from the hedge funds who still believe
in the demise of the Euro. Additional concerns about the credit ratings of Spain, Portugal,
Ireland and Italy
are also weighing on the EUR USD.
Technically, the Euro daily trend is still up, but Mondayâ€™s
action indicates a correction to 1.3609 may be necessary before new buyers
The British Pound traded sharply lower as traders speculated
that the U.K.
will be unable to service its debt, thereby increasing the odds of a credit
downgrade by Moodyâ€™s. The CFTC also reported in its Commitment of Traderâ€™s
Report that the number of net short traders is at 67,549 as of March 2nd.
Political uncertainty which could lead to a â€śhung parliamentâ€ť also contributed
to Mondayâ€™s weakness. Selling pressure looks as if it will continue to build
throughout the week.
The USD JPY finished flat after a two-sided trading session.
An increase in demand for lower yielding assets led by the drop in U.S.
equity markets helped send investors into the safety of the Japanese Yen at the
mid-session. Earlier in the session, the USD JPY was trading higher on concerns
that the Japanese government may begin implementing a plan to ease the rise in
The decline in the Euro helped to halt the recent slide in
the USD CHF. The Swiss Franc fell on increased speculation the Swiss National
Bank would intervene again to weaken its currency against the falling Euro.
Technically, this market posted a daily closing price reversal bottom which
could trigger a short-term rally to 1.0691.
The USD CAD finished flat after a two-sided trade. Plunging
crude oil and a break in Gold after earlier strength helped to weaken the
Canadian Dollar into the mid-session, but sellers took over late in the session
to erase the small gain. Downside momentum is strong enough to take this market
to parity. The absence of a â€śverbal interventionâ€ť by the Bank of Canada is an indication
that it is going to allow the Loonie to work higher. Falling crude oil could
limit gains in the Canadian Dollar.
The AUD USD traded lower most of the session after
confirming Fridayâ€™s closing price reversal top. Lower demand for higher risk
assets was driving this market down. The strong comeback in the U.S.
equity markets late in the session helped the Aussie erase most of its loss.
The daily chart indicates that a move to .8997 is likely if traders decide to
begin dumping risk more aggressively.
Lower demand for risk and concerns about the New Zealand
economy put downside pressure on the NZD USD most of the session, but this
market was able to recover a good portion of the loss into the close. The sharp
break in U.S.
equity markets on Monday early in the session set off the early weakness, but
the late session recovery in the equity markets triggered short-covering into
the close. Risk sentiment is the key driver of this market at this time.
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.