Dollar Weakens as Forex Traders Reassess Greece Situation
The U.S. Dollar is trading a little weaker against most
majors this morning after a sharp rally on Tuesday in response to the news that
the S&P Corp. slashed the credit ratings of Greece
Traders seem a little more optimistic this morning that a
viable solution could be reached regarding a bailout of Greece. The
European Union and the International Monetary Fund have been working hard to
hammer out an agreement that would provide Greece with enough funding to
prevent a collapse in the country‚Äôs financial system.
Traders are still looking for clarity regarding the
situation. They want to know the terms of any loans especially the length of
the funding. Many feel that any proposal will be too short-term and that the
current problems will resurface some time in the future. For the moment,
however, there seems to be a calm developing which could lead to a powerful
short-covering rally in the Euro as conditions are ripe for such a move.
The GBP USD is under pressure overnight. Traders continue to
react to the polls showing that there is no clear cut leader which could result
in a hung parliament following the May 6th election. Investors are nervous that
a hung parliament will curtail any serious attempts to shore up the budget of
The stronger Euro is helping to pressure the USD CHF.
Traders have pressuring the Swiss Franc in anticipation of further intervention
by the Swiss National Bank. In addition, the developing problems in the Euro
Zone may be putting pressure on the Swiss economy.
A rebound in global equity markets is triggering a strong
rally in the USD JPY. After retracing a little over 50% of the recent rally
from 91.59 to 94.35, this currency pair found support and is generating enough
momentum to perhaps trigger another breakout to the upside.
The USD CAD is weakening after an attempt to breakout over
the last swing top at 1.0215 failed. Stronger gold, crude oil and equities are
contributing to the weakness as investors are increasing demand for higher
Stronger demand for higher yielding assets is also driving
up the AUD USD and NZD USD. Technically, both currency pairs may have reached
oversold conditions overnight. Traders have been supporting the New Zealand
Dollar recently in anticipation the central bank will present a more hawkish
statement at its next meeting and perhaps hint that interest rates will rise
sooner than previously expected.
Today the U.S. Federal Reserve will issue its policy
statement. Expect the Fed to leave interest rates unchanged for a prolonged
period of time. Furthermore, expect the Fed to say that employment is still a
major concern and that inflation remains subdued.
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
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.