The euro depreciated sharply vis-√†-vis the U.S. dollar
today as the single currency tested bids
around the US$ 1.3035 level and was capped around the $1.3215 level. The common currency tumbled again on renewed
Greek and European woes.A ‚ā¨110 billion
bailout package for Greece including a sizable contribution from Germany was
announced over the weekend and some traders are speculating the package may not
be large enough to meet all of Greece‚Äôs needs over the next three years.The Greek bailout puts the spotlight on other
highly-indebted eurozone countries.At
the end of 2009, Greece had a total debt equivalent to US$ 236 billion with US$
45 billion owed to Germany, US$ 75 billion owed to France, and US$ 15 billion
owed to the U.K.At the end of 2009,
Italy‚Äôs total debt was US$ 1.4 trillion, including US$ 511 billion owed to
France, US$ 190 billion owed to Germany, and US$ 77 billion owed to the
U.K.At the end of 2009, Spain had US$
1.1 trillion in debt including US$ 238 billion owed to Germany, US$ 220 billion
owed to France, and US 114 billion owed to the U.K.At the end of 2009, Ireland had a total debt
of US$ 867 billion including US$ 184 billion owed to Germany, US$ 188 billion
owed to the U.K., and US$ 60 billion owed to France.At the end of 2009, Portugal‚Äôs total debt totaled
US$ 286 billion with US$ 86 billion owed to Spain, US$ 47 billion owed to
Germany, US$ 45 billion owed to France, and US$ 24 billion owed to the
U.K.Collectively, these data evidence a
massive amount of money owed to Germany, a country that will likely continue to
play the lead role in regional bailouts.Furthermore, last week‚Äôs credit downgrades to Spain and Portugal might
render it less likely those countries will be able to fulfill all of their debt
obligations.Data released in the
eurozone today saw EMU-16 producer price inflation up 0.6% m/m and 0.9%
y/y.Also, German March retail sales were
off 2.4% m/m and up 2.7% y/y.Chartists
are eyeing reported stops below the US$ 1.2990 and US$ 1.2900 levels with some
bears talking about a downside target around the US$ 1.2740 level.There is talk that the European Central Bank
may need to enact stronger plans to deal with the eurozone‚Äôs problems with some
whispers about a quantitative easing policy that could see the ECB purchase
bonds in the secondary market.In U.S. news, data released today saw
March factory orders climb 1.3%, unchanged from the upwardly revised 1.3% print.
Also, March pending home sales were up
5.3% m/m and 23.5% y/y.Data to be
released on Friday include April non-farm payrolls and unemployment data.Estimates indicate non-farm payrolls may have
increased 189,000 last month with the unemployment rate hanging steady around
9.7%.Former Federal Reserve Chairman
Volcker reported U.S. unemployment will be ‚Äútoo high for too long.‚ÄĚEuro bids are cited around the US$ 1.2990
The yen appreciated vis-√†-vis the U.S. dollar today as the
greenback tested bids around the ¬•94.40 level and was capped around
the ¬•94.95 level. Japanese financial
markets remained closed overnight on account of the Golden Week holiday and
will be closed through the middle of the week. Last week, Bank of Japan kept monetary policy
unchanged overnight and reported it will help lenders provide credit, possibly
using methods from 1998-1999 when lenders gave cash to lenders to address the
credit squeeze.The headline overnight
unsecured call rate target was maintained at 0.1%. BoJ Governor Shirakawa
directed the central bank to stimulate lending ‚Äúwith a view to strengthening
the foundations for economic growth.‚ÄĚ He added ‚ÄúThe government is also trying
to map out an economic growth strategy, and the Bank of Japan hopes to give a
boost to such efforts with new policy measures.‚ÄĚ Last week‚Äôs data released in
Japan evidence an improving economy that is mired in a deflationary spiral and
the central bank‚Äôs enhanced rhetoric last week reflects that dichotomy. The new forecast for inflation suggests
deflation will end during the next fiscal year with CPI at +0.1%.April monetary base data will be released on
6 May.The Nikkei 225 stock index climbed
1.21% on Friday to close at ¬•11,057.40.U.S.
dollar offers are cited around the ¬•96.85 level.The
euro moved lower vis-√†-vis the yen as the single currency tested bids around
the ¬•123.60 level and was capped around the ¬•125.45 level.The
British pound moved lower vis-√†-vis the yen as sterling tested bids around
the ¬•143.10 level while the Swiss franc moved
lower vis-√†-vis the yen and tested bids around the ¬•86.30 level. In Chinese news, the U.S. dollar appreciated
vis-√†-vis the Chinese yuan as the greenback closed at CNY 6.8268 in the
over-the-counter market, up from CNY 6.8253. Data released in China overnight saw the April
HSBC manufacturing PMI index decline to 55.4 from the prior reading of 57.0.The reported pullback in Chinese
manufacturing data suggests import-dependent industrialized countries may have
seen a deceleration in economic growth last month.Chinese banks are increasing their reserves
after People‚Äôs Bank of China raised its bank reserves ratio for the third time
this year this weekend and Chinese equities declined to a seven-month low
today.There is market chatter that
China may lift its reserve ratio as high as 18% in a bid to manage economic
growth.People‚Äôs Bank of China is
expected to revalue its yuan currency at any time.Data to be released in China tonight include
April PMI manufacturing.
British pound depreciated vis-√†-vis the U.S. dollar today as cable tested bids
around the US$ 1.5125 level and was capped around the $1.5265 level. Political pundits are now forecasting the
Tories may have edged ahead and may be closer to winning an outright victory at
this Thursday‚Äôs General Election.Sterling could get a boost if the Tories win because the party has long
been perceived as pro-sterling.Many
data were released in the U.K. today.First, March net consumer credit printed at ¬£300 million, down from the
revised ¬£600 million prior reading. Second, March net lending secured on
dwellings fell sharply to ¬£300 million from an upwardly revised ¬£1.8
billion.Third, March mortgage approvals
climbed to 48,900 from a downwardly revised 46,900.Fourth, the M4 money supply indicator grew
0.2% m/m and 3.6% y/y.Fifth, April PMI
manufacturing printed at 58.0 improved to 58.0 from a revised 57.3.Cable bids are cited around the US$ 1.5030
level.The euro depreciated vis-√†-vis the British pound as the single
currency tested bids around the ¬£0.8630 level and was capped around the ¬£0.8670
franc depreciated vis-√†-vis the U.S. dollar today as the greenback tested offers
around the CHF 1.0945 level and was supported around the CHF 1.0840 level. Data released this weekend confirmed the Swiss
National Bank has spent more than CHF 40 billion to buy euro this year with CHF
30.2 billion in franc sales in the first quarter alone.Data Swiss National Bank President Hildebrand
last week said the SNB will continue to counter any ‚Äúexcessive‚ÄĚ gains of the
franc, noting there would be a ‚Äúnegative impact‚ÄĚ if the franc appreciates
‚Äúsharply due to its role as a safe haven currency.‚ÄĚHildebrand noted the SNB ‚Äúwill not allow such
a development to turn into a new deflation hazard‚ÄĚ and is ‚Äúacting decisively to
prevent an excessive appreciation.‚ÄĚHildebrand
also called on European leaders to conclude negotiations over Greece‚Äôs aid
package ‚Äúrapidly.‚ÄĚ April consumer price inflation data will be released on
Thursday.U.S. dollar offers are cited
around the CHF 1.0930 level.The euro moved lower vis-√†-vis the
Swiss franc as the single currency tested bids around the CHF 1.4320 level
while the British pound appreciated
vis-√†-vis the Swiss franc and tested offers around the CHF 1.6595 level.
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.
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.