The U.S. Dollar is trading lower overnight. This is
triggering an increase in demand for higher risk assets such as equities, gold
and crude oil
The GBP USD is the biggest gainer overnight. The initial
move was fueled by a report showing that U.K. Jobless Claims unexpectedly fell
in February. The strong surge to the upside was triggered by the news that the
BoE members voted 9 -0 to leave its quantitative easing program unchanged.
Following this news, a strong up move ensued, driving this market through a
pair of 50% levels at 1.5271 and 1.5297. The next upside target is 1.5419.
The EUR USD is trading better on increased demand for higher
yielding assets as well as improving conditions in Greece. Traders still feel Greece will receive a bailout from Germany and France. Donâ€™t forget about the huge
amount of shorts in this market. A short-covering surge could occur at any time
if short begin to panic because of the current rally.The charts indicate that 1.4009 is the next
likely upside target.
Overnight the Bank of Japan voted to leave interest rates
unchanged. In addition, it doubled its loan program designed to combat
deflation. The USD JPY is trading higher this morning. The charts indicate that
a break through .9077 is likely to trigger an acceleration to the upside. The
increased demand for higher yielding assets is likely to pressure the Japanese
Yen as traders continue to use this currency as the funding currency of choice.
The USD CHF is trading lower. The higher the Euro moves, the
less likely the Swiss Franc will intervene. This is helping to support the
Swiss Franc. The first downside target on the charts was reached last night at
1.0513. There may be a technical bounce at this level, but if downside momentum
persists, then look for a further decline to .1.0423 over the near-term.
Stronger demand for higher risk assets such as equities,
gold and crude oil are helping to pressure the USD CAD. The trend in this
market is decisively lower and likely to continue until this contract reaches
Increased demand for higher yielding currencies is driving
the AUD USD and NZD USD up. With the U.S.
holding interest rates low and the central banks in Australia
and New Zealand
considering rate hikes, the interest rate differential has shifted back in
favor of the Aussie and Kiwi.
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."
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Mon 18 Dec
10:00 EZ- final HICP Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes Mon 25 Dec
00:00 Christmas Holidays
Potential Trading Opportunities
POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
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