Forex Market Commentary and Analysis (12 May 2010)
The euro depreciated vis-√†-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2605
level and was capped around the $1.2740 level.Traders continue to express skepticism with the latest bailout plans for
eurozone countries, doubting that Greece, Ireland, Italy, Spain, and Portugal
will be able to dramatically reduced their bloated deficits and rein in fiscal
spending.Sovereign debt concerns continue
to weigh heavily over the common currency.European Central Bank President Trichet today ‚Äúruled out completely‚ÄĚ the
idea that a member country of the eurozone could be expelled from membership.
Trichet also defended the ECB‚Äôs decision this week to purchase eurozone
government bonds in the secondary market, reporting it is ‚Äúnot a situation of
quantitative easing. We are takking back all the liquidity that we‚Äôre
providing.‚ÄĚConcurrent with the eurozone
jitters, it was announced that Estonia will join the euro on 1 January
2011.Data released in the eurozone
today saw EMU-16 March industrial production climb 1.3% m/m and 6.9% y/y while
EMU-16 GDP growth registered 0.2% q/q and 0.5% y/y.The ECB will release its May monthly report
tomorrow.German data released today saw
Q1 GDP growth of 0.2% q/q and 1.7% y/y.Also,
French consumer prices were up 0.3% m/m and 1.7% y/y while Q1 gross domestic
product was up 0.1% q/q and 1.2% y/y.In U.S. news, St. Louis Fed President
Bullard said the economic recovery is ‚Äúfairly robust‚ÄĚ and said risks from
Europe are ‚Äúnot that high.‚ÄĚ The Senate today voted to keep regulatory oversight
of smaller banks with the Fed.Data
released in the U.S. today saw MBA mortgage applications up 3.9% while the
March trade balance printed at ‚ÄďUS$ 40.4 billion, wider than the revised ‚ÄďUS$
39.4 billion.Euro bids are cited
around the US$ 1.2585 level.
The yen depreciated vis-√†-vis the U.S. dollar today as the
greenback tested offers around the ¬•93.25 level and was supported around
the ¬•92.45 level. Some risk appetite
returned to the market after several days of intense volatility and traders
reduced exposure to the yen.Data
released in Japan overnight saw official reserve assets climb to US$ 1.046
trillion while the March leading and coincident indices rallied to 102.8 and
101.1, respectively.Many data will be
released in Japan overnight.Bank of
Japan Deputy Governor Yamaguchi this week said the central bank has ‚Äúno need to
alter the outlook in our semi-annual economic report‚ÄĚ following recent market
volatility.Finance minister Kan this
week reported equity and currency markets will ‚Äústart to stabilize.‚ÄĚMinutes from last month‚Äôs BoJ Policy Board
meeting were released yesterday and policymakers observed ‚Äúbalance sheet
adjustments in the banking sector and the fiscal deficit problem in some
European countries might further slow the pace of economic recovery‚ÄĚ in the
region.The Nikkei 225 stock index lost 0.16%
to close at ¬•10,394.03.U.S. dollar
offers are cited around the ¬•96.85 level.The euro moved higher vis-√†-vis
the yen as the single currency tested offers around the ¬•118.40 level and was supported
around the ¬•116.55 level.The British pound moved higher vis-√†-vis
the yen as sterling tested offers around the ¬•139.80 level while the Swiss franc moved higher vis-√†-vis
the yen and tested offers around the ¬•84.10 level. In Chinese news, the U.S. dollar depreciated vis-√†-vis the Chinese
yuan as the greenback closed at CNY 6.8272 in the over-the-counter market, down
from CNY 6.8293. People‚Äôs Bank of China
adviser Xin Bin this week said the central bank‚Äôs quarterly report released on
Mondat is a signal the central bank will permit the yuan to appreciate
vis-√†-vis the U.S. dollar.The central
bank yielded some clues regarding the possibility of ending its U.S. dollar
peg, reporting it will manage the yuan ‚Äúwith reference to a basket of
currencies‚ÄĚ ‚Äď language that was absent from the central bank‚Äôs previous
British pound depreciated sharply vis-√†-vis the U.S. dollar today as cable
tested bids around the US$ 1.4815 level and was capped around the $1.5045
level.New Prime Minister Cameron formed
a government with the Liberal Democrats and the new coalition government
promised to reduce the U.K.‚Äôs deficit.Bank of England Governor King applauded the new government‚Äôs decision to
reduce as much as ¬£6 billion in spending this year.BoE released its quarterly inflation report
today in which predicted inflation will remain above its 2% target through the
remainder of the year and about 1.4% in two years‚Äô time.Nonetheless, there are no indications BoE is
considering tightening policy at this time and the central bank added downside
U.K. growth rates have ‚Äúincreased somewhat.‚ÄĚBoE is expected to begin reversing its quantitative easing policies in
2011.Data released in the U.K. today
saw the April claimant count tick lower to 4.7% from 4.8% while jobless claims
were off 27,100.Average weekly earnings
accelerated sharply to 4.0% and the ILO unemployment rate remained steady at
8.0%.April Nationwide consumer
confidence will be released tonight.Cable
bids are cited around the US$ 1.4335 level.The euro appreciated vis-√†-vis
the British pound as the single currency tested offers around the ¬£0.8545 level
and was supported around the ¬£0.8445 level.
franc appreciated vis-√†-vis the U.S. dollar today as the greenback tested bids
around the CHF 1.1060 level and was capped around the CHF 1.1140 level. The Swiss government today called on UBS and
Credit Suisse to reduce risk-taking activities.Data released in Switzerland today saw April producer and import prices
up 0.6% m/m and 0.8% y/y.U.S. dollar
offers are cited around the CHF 1.1270 level.The euro moved lower
vis-√†-vis the Swiss franc as the single currency tested bids around the CHF 1.4015
level while the British pound depreciated
vis-√†-vis the Swiss franc and tested bids around the CHF 1.6415 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.
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.