Daily GVI Forex Forex View- Capital Flows in Command
The Daily Forex View
Capital Flows in Command
10:00 GMT- Apr 14 (global-view.com) The EUR is trading stronger against the USD and especially vs. the JPY today on what appears to be short-covering and perhaps a major order or two. We had heard from sources yesterday that a couple of central banks had been bidding for EURUSD yesterday during N.Y. trading hours. For the moment Greece is off the table, but odds are it has not completely faded as a market factor. Analysts are saying that it is inevitable that the government will be forced to tap the EU source of funds or partially default within a year. This would be bad news for the EUR. The Singapore dollar revalued earlier today on the back of robust economic growth.
Some feel that strong Chinese GDP (due tomorrow) will intensify the pressure on Beijing to revalue the yuan in due course. Comments by President Obama yesterday seemed to indicate that Chinese Premier Hu had rebuked pressure from the U.S. to upwardly adjust its currency.
The EURUSD is now up on the day and the EURGBP is steady. The GBPUSD is up. The focus of trade today appears to be on position adjustments and perhaps reserve diversifications out of the USD..
In the U.K., the general election is May 6. The vote has markets waiting each day for new headlines. A new poll released late Tuesday showed the slim lead of the Conservatives growing. This goes on for another weeks. Although most polls favor the Tories, opinion poll results have been mixed.
We still maintain a cautiously bearish bias for the EURUSD and GBPUSD. The EURGBP is a toss-up.
The EURCHF is firmer. Some have been noting that the SNB has changed tactics and that it has has been in the markets supporting the EUR vs. the CHF much of the time. The recent relentless weakness of the EUR vs. the CHF has been a bad omen for the EUR.
The USDJPY pair is higher, and the EURJPY cross is up even more. The Hatoyama government continues to pressure the Bank of Japan to stimulate growth and favors an easier exchange rate. A group of junior Japanese ruling party lawmakers (DPJ) called on the government Tuesday to push USDJPY to 120 to combat deflation. Some traders focus intently on the Japanese vs. U.S. 2-yr note spread (only the U.S. 2-yr moves much).
Chatter that there is a lot of yen waiting in the wings ready to be sold persists. We remain bullish USDJPY, but EURJPY is a tough call. Some say that an expected CNY revaluation would give the JPY a lift, but we would be surprised if the exchange rate is raised by more than a token amount.
The risk trade is back on. The commodity currencies (CAD, AUD and NZD) are higher. Recent comments by Canadian FinMin Flaherty suggest little concern about the strength of the currency. A strong currency eases the pressure from the central bank to tighten policy too early. Oil and gold are higher. We continue to favor the AUD and CAD from a fundamental perspective.
Far East equities closed higher. European bourses are up. U.S. equities are firmer. In U.S. Treasuries, many are watching the psychological 4.00% level in the 10-yr note. The U.S. 10-yr was last 3.84%, +2 bps. Bonds are a counter to risk trades because risk investments must somehow be financed. When the cost of money moves up (higher interest rates), the return and allure of risk trades falls.
UPCOMING DATA HIGHLIGHTS: In North America, Weekly Mortgage Statistics early will be followed by Retail Sales figures and the latest CPI report. The day will also see Business Inventories and Weekly Crude data. Later, the Fedï¿½s Beige Book will be released.
See ECONOMIC CALENDAR for a complete list of future forex market events and consensus data estimates. Go to the forex forum for up-to-date market developments and technical trading ideas.
John M. Bland is an author, and co-founder and partner of Global-View.com in 1996. Before that, he was a Vice-President and senior dealer in the fx inter-bank and futures trading arm of the Continental Grain Company in NYC. Previous to that, he was an early member of the Chemical Bank (NYC) corporate advisory service. He also worked in international liability management. John has an MBA from the Hass School at the University of California at Berkeley and a bachelors degree in International Economics from Berkeley.
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.
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.