User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday April 23, 2010 - 15:06:47 GMT
Forex Hound - www.forexhound.com

Share This Story:
| | Email

Stocks Rally after Greece asks for Relief

U.S. equity markets are called higher this morning. After selling off early in the trading session, global stock markets turned positive after Greece announced that it was going to activate the loan mechanism proposed by the EU/IMF. This triggered renewed demand for risk as it temporarily took a major investor concern off the table. Trading conditions could be volatile today as details of the bailout plan are released throughout the day.

 

Yesterday President Obama’s speech on government regulation was not as harsh as trader’s expected. This helped turn the market around late in the session after an early profit-taking setback. The Greek developments overnight have calmed the markets somewhat meaning earnings and economic news may carry more weight today.

 

Durable Goods gets reported today. Traders want to see if this report reflects renewed consumer spending. At 9am CDT, New Home Sales will be reported. On Thursday, existing home sales helped contribute to the rally. Today traders want to see if a trend is developing in the housing market.

 

Yesterday’s closing price reversal top in the June Treasury Bonds was confirmed overnight. The easing of tensions in Greece helped traders take risk off the table. Downside pressure could take this market to 116’15 over the near-term. It’s all about risk today. If trader sense risk developing then look for T-Bonds to rally. If traders shun risk then look for further downside pressure.

 

June Gold traders are taking a “wait and see” attitude this morning. Traders are trying to digest exactly what is going on between the EU and Greece. If traders sense the Euro is on the brink of collapse then speculators will buy gold. Gold may also stabilize if the Dollar weakens substantially. June gold is actually trading as if it expects the Dollar to strengthen throughout the day as new shorts get placed on the Euro.

 

June Crude Oil is steady overnight. Traders know the rally in the Euro is short-covering. Like the gold traders, they are assessing the EU/Greek situation. Technically, the chart pattern indicates impending volatility. A rally through 84.64 will trigger a sharp break to the upside. A break through 82.05 is likely to fuel a collapse.

 

The week long surge in borrowing costs finally forced Greece to formally ask to tap the 45 billion Euro ($60 billion) rescue package provided by the European Union and the International Monetary Fund.

 

The unprecedented move by Greece threatens both the Euro’s stability and the structure of the European Union. Traders are now asking if Greece gets the money then what about Spain, Portugal and Ireland.  Many feel that these three countries are next in line for a rescue as debt problems spread across Europe. Based on current developments, the very existence of the Euro is now being questioned.

 

When the Euro was created a little over 11 years ago, the founding fathers gave the European Central Bank the power to control interest rates and fiscal responsibility to the individual countries. The current crisis has threatened the cohesion of the European Union as many member countries have turned their back on the sovereign debt problems of struggling member nations. These “solvent” nations are going to have to be convinced that the Euro is worth saving by ponying up the funds necessary to save the economies of the struggling members or risk debt default and the collapse of the Euro.

 

With the cost to service its debt sky-rocketing everyday, Greek Prime Minister George Papandreou had no choice but to ask for the money. After reaching unsustainable levels that were destroying the efforts by the Greek government to cut its budget deficit, Greece had to cave in and make the request for bailout funding. As of last night, the cost to finance 5-year Greek credit default swaps soared to 623 basis points before settling at 590 bp after the rumors of the activation of the rescue plan began to circulate.

 

Although the Euro rallied in a short-covering rally as news broke of the bailout, investors still have to be pessimistic about the viability of the Euro. The main concern at this time is the inability of the European Union to come up with concrete rules regarding the terms of the bailout loans. Prior to the bailout proposal put together in haste earlier in the month, the EU had no such plan. In looking-back, it looks as if that plan was not designed to strengthen the Euro, but to stem the pace of its decline.

 

Now that Plan A has failed, the prospects for Plan B do not look that much better as EU members appear to be making up this plan as they go along. The trick is going to be trying to convince the solvent EU members that Greece is worth saving. Furthermore, the EU member are most likely going to have to consider putting together a plan which also provides aid for Spain, Portugal and Ireland or any other nation that will need aid. The second part of the equation may be considering booting all of these struggling nations out of the club since it has already been proven that despite austere measures to shore up the budget, the capital markets are really controlling the show.

 

Traders and investors want clarity at this point. They want to have a fully understandable mechanism plan in place as soon as possible to prevent the collapse of the Euro. If history gives us any clues, however, the EU will drag its feet and fail to live up to its responsibility as a partner. Germany especially will be the biggest hurdle for Greece and the other sovereign nations to overcome. Not only are the Germans against any kind of bailout plan, but the Greek citizens feel that a bailout will make them appear weak to the global community. This means that eventually the next bailout plan will fall squarely in the hands of the International Monetary Fund.

 

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 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

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

Forex Trading Outlook


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
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

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