User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday April 16, 2010 - 16:20:32 GMT
Forex Hound - www.forexhound.com

Share This Story:
| | Email

Stocks Reacting More to Earnings than Economy

U.S. equity markets are expected to open lower following a sell-off in Google stock after the company reported better than expected earnings last night. This morning the markets are expected to be driven by earnings reports from General Electric (GE) and Bank of America (BAC). 

 

This week, for the most part, traders have ignored the U.S. economic reports and have instead chosen to focus on the slew of earnings reports. The exception to this was Wednesday’s testimony by Fed Chairman Bernanke who green lit the market by reiterating that interest rates will remain low for a prolonged period. The long-term trend is expected to remain up until the Fed begins to hike interest rates. Until then Wall Street will take advantage of the bucket loads of almost free money swirling around the equity markets.

 

Traders should watch for a potential break late in the session today when Kansas City Fed President Hoenig speaks. His comments broke the market last week when he mentioned hiking interest rates and the potential for a stock asset bubble.

 

June Treasury Bonds and Treasury Notes are called higher this morning based on a strong overnight trade. Talk of low interest rates earlier in the week and a favorable auction last week has lent strong support to these contracts this week. T-Bond traders should watch for a breakout over the last swing top at 116’22. This move will turn the short-term trend up with the strong possibility of an acceleration to 116’29 to 117’06. Hoenig’s mention of a rate hike in his speech this afternoon could trigger a sell-off.

 

June Gold is trading slightly lower because of the stronger Dollar, but the sell-off isn’t that bad as bullish traders may be buying the metal as a hedge against a collapse of the Euro. Traders have been showing interest in gold by buying hard assets as a hedge against paper money. The inability to break through $1159.60 could trigger a liquidation break late in the session if an uptrending Gann angle at $1150.10 fails to hold.

 

The weaker Euro and stronger Dollar is pressuring June Crude Oil overnight. Currently the chart formation has the appearance of a secondary lower top. The bullish inventory report from earlier in the week is helping to limit the break to the downside.  Traders should watch the Dollar and the Euro today for direction.

 

There are two economic reports today that may move the Dollar. U.S. Housing Starts are expected to show a modest increase to 0.605M following a drop to 0.575M in February. Traders are speculating that weather improvements and the new spring building season may have lead to the increase in the number of new units. The fundamentals remain weak however, based on the supply of new and existing homes available. Foreclosures are also a major problem.  A lower than expected number should weaken the Dollar as it would indicate lower interest rates.

 

U.S. Consumer Sentiment is expected to show a rise in March. This month’s report is expected to come in at 75.0 versus a February figure of 73.6. The improving jobs picture apparently had a major influence on consumers. Earlier this week it was reported that consumers spoke with their pocketbooks after retail sales rose more than expected. This report is not likely to have that big of an effect on the Dollar unless it is way of line with expectations.

 

Late in the trading session, Kansas City Federal Reserve Bank President Thomas Hoenig speaks. In his 12:30 pm EDT speech, Hoenig is expected to discuss the reasoning behind his demand that the Fed begin raising interest rates. At the last two FOMC policy meetings, Hoenig was the lone dissenter. Hoenig is also expected to warn about potential asset bubbles because of the Fed stance to keep interest rates low for an “extended period”. His speech may catch traders off guard late in the trading session. Talk of higher interest rates may spook the equity markets while driving traders into the U.S. Dollar.

 

The June Euro is trading lower ahead of the New York session. Last night’s low at 1.3513 almost filled the gap left Sunday night at 1.3498. The daily chart indicates that the break may not stop there with 1.3486 to 1.3438 the next potential downside target. With the main trend up on the daily chart, don’t be surprised by a technical bounce following a test of this retracement zone.

 

Fundamentally, the Euro remains weak and faces a credibility crisis because of the lingering sovereign debt problems in Greece. Although a financial aid package was supposedly agreed upon on April 11th, traders are beginning to realize that this may have been a short-term fix rather than a long-term solution. With fiscal problems still lingering, the International Monetary fund has agreed to meet with Greece on Monday to discuss its current financial issues.

 

The spread between the Greek Bond and the German Bund continues to be the best indicator that problems exist. Investors have driven up the premium to buy Greek Bonds to over 400 basis points, or its highest level since the rescue plan was announced. The consensus among traders is that the proposed $61 billion aid package may not be enough to help Greece. Furthermore, traders are now looking for the Euro Zone’s sovereign debt issues to begin spreading to Portugal. Without a viable plan to fight the spread of additional fiscal problems, look for hedge funds to continue to press the Euro lower as well as sell rallies.

 

The June British Pound is trading weaker overnight following an election debate in the U.K. which once again raised concerns about the possibility of a hung parliament. Doubts are being raised by traders as to whether major parties involved in the election have viable plans to contain the country’s growing budget deficit. Many traders are also losing confidence in this current rally as they suspect that long traders will begin liquidating their positions as the May 6th election date draws near.

 

Technically, this market weakened overnight when an uptrending Gann angle from the 1.4797 bottom at 1.5337 was violated. This move indicates impending weakness with a strong possibility of a break to at least 1.5160 on April 20th.

 

 

Forex Trading News

Forex Research

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 here.

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.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

Retail Forex Brokerage Changing!

Are you 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.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 
Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

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.

Forex News

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

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.

Forex Brokers

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 Trading

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.

FX Trading

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.

Forex Blog

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.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105