The U.S. Dollar is trading lower overnight against most
major currencies except the Japanese Yen as optimism over Greek debt woes
triggered renewed interest in higher yielding assets. The markets are also making
adjustments on speculation that China
is readying to announce a revaluation of the Yuan.
The Euro is trading higher in a continuation of the move
which began on Thursday following optimistic comments regarding Greece from
European Central Bank President Jean Claude Trichet. The ECB President
dismissed speculation that Greece
would default on its debt.
The comments from Trichet have been quite supportive for the
Euro which is helping to trigger this morningâ€™s bounce.Despite the rally, traders should remain
cautious because the problems which triggered speculation in the first place
would default on its debt still exist. Some short traders are covering their
positions on speculation that the International Monetary Fund will step in at any
time to bailout Greece.
Look for a huge short-covering rally if the IMF steps in to
provide much needed relief for Greece.
Traders should also watch the latest CFTC Commitment of Traders Report to see
if the 70,000+ shorts lightened up their positions substantially.
Overnight it was reported that German exports rose in
February after falling the previous month. This news helped underpin the Euro
as it fueled optimism that the pace of the recovery in Europeâ€™s
largest economy may actually be improving at a faster pace that previously
On Thursday, U.S. Treasury Secretary Geithner met with
Chinese officials in a diplomatic gesture to convince them to allow the Yuan to
increase in value against the Dollar. After Geithner left, China gave no indication toward
revaluating its currency, but most analysts believe that sometime over the
short-run it will allow the Yuan to appreciate against the Dollar.
allows the Yuan to appreciate then look for the Japanese Yen to benefit while
the Australian and New Zealand Dollars will most likely suffer.
inflation data is helping to propel the GBP USD overnight. The U.K.â€™s March
Producer Price Index accelerated 0.9% versus 0.3%. The annual rate rose 5%
versus a guess of 4.3%. This report coupled with the unexpected rise in final
Q4 GDP is another sign that the economy is improving.
The USD CHF is trading lower because of the improvement in
the Euro. The strong rise in the Euro is diminishing the chances of an
intervention by the Swiss National Bank.
The USD JPY is trading higher because of increased demand
for riskier assets. U.S.
equity markets are higher overnight which is encouraging Japanese investors to
sell the Yen in an effort to take advantage of the better returns in the U.S. equity markets.
Signs of a global economic recovery are being read as a plus for risk
sentiment.Losses in the Yen may be
limited because of comments from the Japanese government saying the likelihood
of a double-dip recession has been diminished.
Higher gold and crude oil prices are helping to pressure the
USD CAD. Demand for the Canadian Dollar is strong because of the prospects of a
hike in interest rates by the Bank of Canada ahead of the U.S. Fed. Today, the
Canadian Dollar will get its direction from the Canadian Employment Report.
Look for the addition of 25,000 jobs and an 8.2% unemployment rate.
Stronger demand for higher yielding assets is driving up the
AUD USD and NZD USD. Earlier this week, the Reserve Bank of Australia
raised its benchmark interest rate to 4.25 percent. This was the 5th month out
of 6 that the RBA hiked rates.The
spread between Two-Year Australian debt over Two-Year U.S. Treasuries rose to
398 basis points earlier this week. This was its highest level since July 2008.
The interest rate differential between Australia
and the U.S.
is driving investors into the higher yielding Aussie.
Improvements in the spread between the New Zealand debt and comparable
U.S. Debt, is driving investors into the Kiwi. Speculation that the Reserve
Bank of New Zealand
will raise its benchmark rate sometime after June is also providing some
support. Traders seem to have shrugged off the recent International Monetary
Fund Report calling the NZD USD overpriced. Support is also coming from a
government report which said the New Zealand budget cash deficit was
narrower than its forecast.
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.
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
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.