The Australian Dollar is firming up this morning after a
report showed that the economy added a greater-than-expected 33,700 jobs in
April. This is good news for the Aussie because it shows that the economy is
growing despite six interest rate increases. The pre-report estimate was for an
increase of 22,500 jobs. Prior to last nightâ€™s jobs data report many traders
felt that the Reserve Bank of Australiaâ€™s
series of interest rate cuts were slowing down the economy. The new jobs number
may be an indication that the economy may be able to handle another hike.
Technically, the Aussie appears to be building a supportive
bottom which could trigger a further rally into a retracement zone at .9047 to
The NZD USD is trading higher overnight, partially because
of the strength in the Australian Dollar and because of the increase in the
countryâ€™s business main index from 56.7 to 58.9. Technically, this currency
remains rangebound between .7325 to .7007. This makes .7166 to .7203 a key
Selling pressure continues to drive the EUR USD lower. The
short-term euphoria triggered earlier in the week by the announcement of a
fresh bailout package from the European Union appears to have worn off.
Investors feel that the new money being pumped into the economy is merely new
debt being piled on top of old debt. In addition, the market seems to like the
idea of financial austerity measures rather than new debt. Earlier in the week,
the Euro rallied after Spain
announced it was going to begin cutting costs.
Technically, the main trend is down on the daily chart. This
market remains in the strong hands of the hedge funds and large traders who
continue to push it lower. There is so much money on the short-side of the market
that even a $1 trillion bailout plan could not scare them out of their
positions. There may be a technical bounce on the first test of the low at
1.2518, but this is likely to attract more selling pressure.
The GBP USD is trading inside of a short-term retracement
zone at 1.4763 to 1.4695, but downside momentum is building which could drive
this market even lower. Earlier in the week, the British Pound rallied
following the announcement of the formation of a new government. Reality set in
rather quickly shortly after this event as investors began to realize that
austere financial measures will be necessary to cut the budget deficit and
reduce the sovereign debt. On Wednesday the Bank of England announced that
economic growth will be slow over the next two years. This news is also
pressuring the British Pound.
The weaker Euro is helping to boost the USD CHF. The current
chart formation suggests that new low in the Euro will lead to a breakout to
the upside through the recent top at 1.1246. A new main bottom has been formed
at 1.0923. A trade through this price will turn the main trend down.
Weakening equity markets and the fear that the problems in
the Euro Zone will slow down economic growth is helping to pressure the USD
JPY. Traders seem to be shedding higher risk assets this morning driving
investors into the safety of the lower yielding Japanese Yen.
The USD CAD was under pressure most of the night, but
traders have been paring losses now that equity markets are beginning to show
signs of weakness. A break through the recent bottom in crude oil is also
contributing to this morningâ€™s turnaround. June Crude Oil is in a position to
break sharply which could trigger a strong short-covering rally in the
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 26 Feb 2018 A 15:00 US- New Homes Sales Tue 27 Feb 2018 A 08:55 DE- Jobless B 13:30 US- Durable Goods A 15:00 US- CB Consumer Confidence A 15:00 US- Pending Homes Sales AA 15:00 US- Powell House Testimony Wed 28 Feb 2018 A 10:00 EZ- flash HICP AA 13:30 US- GDP A 15:30 US- EIA Crude Thu 1 Mar 2018 A All Day final Mfg PMIs A 13:30 US- Weekly Jobless AA 13:30 US- Core PCE Deflator AA 15:00 US- Powell Senate Testimony A 15:30 US- EIA Crude Fri 2 Mar 2018 AA 15:00 US- final Univ of Mich
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.