Optimism over Greece Bailout; Fed Commentary Boost Equities
Global stock markets are trading better which is leading to
a call for a higher opening in the U.S. this morning. Traders are
putting risk back on the table as tensions have eased in Greece due to
the working out of a potential bailout plan. In addition, the Fed remained
dovish in its FOMC policy statement which gave traders the green light to buy
equities. The overnight rally in the June E-mini S&P 500 has put the market
in a position to test a key 50% level at 1196.75.
equity markets rallied to a new high for the session on Wednesday after the Fed
left interest rates unchanged at historically low levels and remained soft in
its statement regarding the future of interest rate hikes.
Earlier in the session the stock indices bent a little bit
but did not break after the Euro broke sharply following an S&P Corp.
downgrade of Spainâ€™s
debt. Although investors seem to be a little more cautious about holding long
positions at current levels, they donâ€™t seem as worried about the worsening
situation in the Europe as they did on
Tuesday. This could be because they feel a solution is close due to the
on-going dialogue between Greece
and the EU/IMF.
Technically, the June E-mini S&P 500 main trend turned
down on the daily chart when the market broke through the last main bottom at
1179.75. The lack of follow-through after breaking this price indicates that
there were more buyers looking to enter than sellers looking to pressure the
short-side. The key will be what traders do when 1196.75 to 1201.50 is tested.
If the market is topping then sellers will step in and form a secondary lower
top. If the market is going higher then it should easily blow through this
June Treasury Bonds are trading mixed after finishing lower
on Wednesday after tensions eased in Greece. Traders took profits early
in the session when it became apparent that the EU/IMF was close to inking a
3-year deal with Greece
to help with its debt crisis. The closer Greece and the EU/IMF come to
working out an agreement, the more likely the T-Bonds are expected to break.
The charts indicate that a break to 116â€™16 is likely over the near-term.
Overnight, June Gold is trading lower. Traders are paring
positions initiated earlier in the week despite the weaker Dollar as the
prospect for a collapse in the Euro diminishes. Investors were buying gold on
speculation of the demise of the Euro. Buyers were clearly taking hedge
protection against paper money in case the European debt problems begin to
spread to the U.K. and Japan.A weaker Dollar is likely to underpin gold,
however, if a bailout deal is approved between Greece and the EU, traders may
begin lifting long hedge positions, putting downside pressure on precious
The weaker Dollar and stronger Euro is helping to boost June
Crude Oil overnight. Technically, Wednesdayâ€™s daily closing price reversal bottom
was confirmed. This could fuel the start of a 2 to 3 day rally. The minimum
upside objective of 83.46 to 83.97 has already been exceeded, setting up a
further rally to 84.44 to 85.18.
The U.S. Dollar is getting hammered overnight as trader
appetite for risk drives up higher yielding currencies. The combination of a
possible deal between Greece
and the EU along with low U.S.
interest rates is the catalyst behind the current rally.
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 10 Sep 2018 AA 08:30 GB- GDP, Trade, Output Tue 11 Sep 2018 AA 08:30 GB- Employment Decision A 09:00 DE- ZEW Survey Wed 12 Sep 2018 A 12:30 US- PPI A 14:30 US- EIA Crude A 18:00 US- Beige Book Thu 13 Sep 2018 A 1:30 AU- Employment AA 11:00 GB- Bank of England Decision AA 11:45 EZ- European Central Bank Decision A 12:30 US- Weekly Jobless AA 12:30 US- CPI Fri 14 Sep 2018 A 08:30 GB- GDP AA 12:30 US- Retail Sales A 13:15 US- Industrial Production AA 14:00 US- prelim University of Michigan
John M. Bland, MBA co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
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.