Stocks Set to Open Better as Goldman Tensions Ease
equity markets are called better as tensions have eased regarding Goldman
Sachsâ€™ legal problems. Stock traders are also a little more optimistic because
of the opening of some air routes in Europe. Technically,
all three indices are currently retracing a little more than 50% of the recent
decline. This is a key area as the markets are in positions to post secondary
lower tops. Currently the main trend is up with no sign of a let up until the
current rally fails and a major swing bottom on the daily chart is violated.
June Treasury Notes and Treasury Bonds are trading mixed.
Traders donâ€™t seem to know which direction to play. Worries about Greece and
Goldman Sachs are sending mixed signals so traders have nothing to revert to
other than the abundance of supply in the markets. Look for a choppy two-sided
June Gold is trading better because of the weaker Dollar.
Like stocks, this market may be making a retracement of its recent down swing.
The main trend is up, but it may take the formation of a secondary lower top to
trigger strong selling pressure.
Oversold conditions and a pick-up in demand for higher
yielding assets are helping to boost June Crude Oil. Renewed air activity in Europe is increasing demand for jet fuel which is also
supportive news. The current chart pattern suggests a rally back to 85.50 is
likely over the near-term.
Speculation that Greece may require additional
rescue aid to finance its economy could weigh on the Euro the rest of this
week. At this time, the June Euro is trading better; this could change
following the New York
opening. Additional factors that could hurt the Euroâ€™s performance are ongoing
travel disruptions in Europe because of the
volcanic eruption and the widening Greek government/German Bund spreads.
The spread of volcanic ash over Europe
could develop into a major economic problem for the Euro Zone economy if the
eruption turns into a long-term issue. This natural disaster could wreak havoc
on the economies in the Zone leading to delayed interest rate hikes and
expected fiscal tightening. While the rest of the world will be hiking interest
rates, the European Central Bank may be forced to wait until the economy shows
a sustained improvement.
Although it was reported that German investor confidence
improved more than forecast this month, the lingering Greece issues could trigger a shift
in investor sentiment especially if it is combined with a slowdown in the Euro
Zone recovery. Greek borrowing costs have more than doubled at the sale of
13-week bills. This prompted Bundesbank President Axel Weber to say that Greece
may need more assistance. At this time, investors seem to be looking for a
short-term fix to a long-term problem. Another call for financial aid from the
European Union could begin to erode confidence in the Euroâ€™s ability to
survive. All of this news indicates that traders should continue to look to
sell rallies while maintaining a bearish bias for the Euro.
A better-than-than expected surge in U.K. Consumer Prices
raised questions about the recent assessment by the Bank of England that a
deflationary trend was going to emerge because of the weak economy. The BoE
recently commented that the short-term rise in inflation over the past two
months amounted to an aberration and that deflation was the real threat.
The June British Pound rallied into a major .618 retracement
level following the news that British inflation rose in March to 3.4% from 3.0%
in February. This unexpected hike in consumer prices makes it unlikely that the
BoE will increase the amount of quantitative aid at its next meeting on May
6th. Gains could be limited today because of lingering concerns over the
possibility of a hung parliament after the May 6th election.
Higher crude oil and gold are helping to give the Canadian
Dollar a boost. In addition, traders expect Bank of Canada Governor Mark Carney to
signal that the central bank is poised to raise interest rates in the near
future. Although the BoC is expected to leave interest rates unchanged at 0.25%
at todayâ€™s meeting, it is expected to present a more hawkish policy statement.
Financial market traders are pricing in a rate hike on June 1 rather than the
previous guess of July 1. Traders cite the strong economy and the prospect of
further rate hikes as the main reasons why the June Canadian Dollar should
continue to appreciate.
The easing of tensions over the SEC/Goldman Sachs fraud
lawsuit is encouraging demand for higher yielding assets which is helping to
pressure the June Japanese Yen. Traders are also pressuring the Yen because of
increased optimism that the global economic recovery remains on track. Since
late last week, the Dollar appreciated against most majors as traders began to
factor in the possibility of a prolonged economic drawdown because of the
disruption from the volcano, the possibility of a revaluation of the Yuan and
the threat of tougher financial regulations.
central bank raised interest rates for the second consecutive month to 5.25%. It
also ordered banks to set aside more cash in reserves. India is seeking to slow the
highest inflation rate among the Group of 20 nations. This move by India brought attention to the Pacific Rim area
because it may mean than China
may be next in line to raise interest rates.
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.
Mon 19 Mar 2018 Tue 20 Mar 2018 AA 9:30 GB- CPI A 10:00 DE- ZEW Survey Wed 21 Mar 2018 AA 03:00 AU- Employment AA 9:30 GB- Employment A 12:30 US- Current Account AA 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude A A18:00 US- Fed Rate Decision A 21:00 NZ- RBNZ Rate Decision Thu 22 Mar 2018 AA All Day flash PMIs AA 9:30 GB- Retail Sales AA 12:00 GB- Bank Of England Decision A 13:30 US- Weekly Jobless Fri 23 Mar 2018 AA 12:30 CA- CPI/Retail Sales A 12:30 US- Durable Goods A 14:00 US- New Homes Sales
John M. Bland, MBA co-founding Partner, Global-View.com
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.