User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 18, 2010 - 15:43:47 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (18 May 2010)

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2445 level and was supported around the $1.2315 level. The common currency gained marginal ground after eurozone finance ministers reported the Greek debt crisis will not engender excessive tightening policies.  European Union Economic and Monetary Affairs Commissioner Rehn reported the European Union will “take a look” at the deficit reduction plans of all 27 European Union governments before June.  Greece confirmed receipt of a €14.5 billion loan tranche from the European Union.  European Central Bank Weber warned against a return to “business as normal” in the economic recovery process.  Three-month U.S. dollar Libor reached 0.46469% today, up from Monday’s level of 0.46%, while the euro Libor rate fell to 0.63%.  Data released in the eurozone today saw EMU-16 April consumer price inflation up 0.5% m/m and 1.5% y/y at the headline level and 0.8% y/y at the core level.  The May ZEW economic sentiment index fell to 37.6 from the prior reading of 46.0 while the EMU-16 March trade balance printed at €4.5 billion.  The German May ZEW economic sentiment index fell to 45.8 while the current situation sub-index came in at -21.6.  Also, French Q1 non-farm payrolls were off 0.1% q/q with wages up 0.7% q/q.  In U.S. news, data released today saw the April headline producer price index off 0.1% m/m and up 5.5% y/y with the ex-food and energy rate up 0.2% m/m and 1.0% y/y.  Also, April housing starts were up 5.8% m/m to an annualized 672,000 units and April building permits were off 11.5% m/m to an annualized 606,000 units.  Traders are trying to reconcile how the European debt crisis may decelerate the removal of monetary accommodation by the Fed.  Euro bids are cited around the US$ 1.2140 level.

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥92.95 level and was supported around the ¥92.30 level.  Bank of Japan overnight resumed the provision of U.S. dollars to lenders as dollar borrowing costs continue to escalate globally on account of European sovereign debt woes.  BoJ is offering unlimited U.S. dollar loans for 84 days from 20 May to 12 August at a fixed interest rate of 1.24% against eligible collateral as part of this program.  The central bank’s previous U.S. dollar lending operations commenced in September 2008 following the collapse of U.S. banking giant Lehman Brothers.  Bids for the loans totaled US$ 210 million, a relatively low number that represented good news. BoJ’s Policy Board convenes on 20-21 May and some dealers expect it will provide information regarding its lending program this week designed to stimulate certain sectors of the economy including technology.  Data released in Japan overnight saw the March tertiary industry index decline 3.0% m/m, down from the revised prior reading of -0.3%.  Also, April consumer confidence improved to 42.1 while April machine tool orders were up 200.9% y/y.  Additionally, April Nationwide department sales were off 3.7% y/y and Tokyo-area department store sales were off 4.9% y/y.  The Nikkei 225 stock index gained 0.07% to close at ¥10,242.64.  U.S. dollar offers are cited around the ¥96.85 level.  The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥115.45 level and was supported around the ¥113.75 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥134.80 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥82.35 level. In Chinese news, the U.S. dollar depreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8274 in the over-the-counter market, down from CNY 6.8277.  People’s Bank of China adviser Xia Bin reported “diversification is a long-term trend” and added the euro’s problems will not deter China from diversifying its sizable foreign currency reserves.  PBoC official Li De reported the central bank “will be very prudent” over interest rate adjustments.  Yuan forwards gained ground following a report from eurozone finance ministers that Greece’s debt crisis will not precipitate “excessive” tightening policies. 

£

The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.4405 level and was capped around the $1.4520 level.  Cable spun lower during the North American session as traders continued to sell sterling on concerns the new coalition government will be unable to materially reduce the U.K.’s bloated budget deficit and national debt.  Data released in the U.K. today saw April headline consumer price inflation was up 0.6% m/m and 3.7% y/y while the core CPI index was up 3.1% y/y.  Both the headline and core year-over-year rates remain at significantly elevated levels and Bank of England Governor George cited elevated oil prices, a weaker pound, and restoration of the VAT sales tax rate at 17.5% as “factors that are masking the downward pressure on inflation from the substantial margin of spare capacity in the economy.”  The 3.7% print was the highest since November 2008.  The BoE Monetary Policy Committee expects CPI inflation will fall back to target within a year.  New Chancellor of the Exchequer Osborne reconfirmed the new government’s “absolute commitment to maintaining price stability” and to reducing spending by £6 billion in 2010-2011.   Cable bids are cited around the US$ 1.4110 level.  The euro appreciated vis-à-vis the British pound as the single currency tested offers around the £0.8605 level and was supported around the £0.8540 level.

CHF

The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1265 level and was capped around the CHF 1.1380 level.  Swiss National Bank President Hildebrand late yesterday reported the central bank is “ready to act” against the current strengthening of the franc, noting it is jeopardizing the economic recovery and Swiss price stability.  Hildebrand warned that Europe’s “dramatic” situation is “very difficult” and might worsen, pledging action in a “decisive manner.”  U.S. dollar bids are cited around the US$ 1.1110 level.  The euro gained ground vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.4045 level while the British pound lost ground vis-à-vis the Swiss franc and tested bids around the CHF 1.6295 level.

 

Forex Trading News

Forex Research

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 here.

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.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
John M. Bland, MBA
co-founding Partner, Global-View.com EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

Retail Forex Brokerage Changing!

Are you 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.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 
Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

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.

Forex News

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

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.

Forex Brokers

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 Trading

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.

FX Trading

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.

Forex Blog

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.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105