German President Resignation Weakens Global Equities
Global equity markets are trading lower following the
surprise resignation of German President Horst Kohler. Although the markets are
trading lower, so far the reaction has been normal with no sign of a panic
sell-off at this time. Traders seem to be taking some time to digest the news
while studying its potential impact on the markets today.
Early this morning the June E-mini S&P 500 is testing
the 50% level of the 1036.75 to 1106.75 range at 1071.75. A trade through this
level sets up a test of the .618 level at 1063.50. A failure to hold the
retracement zone will indicate that at test of the recent bottom at 1036.75 is
The short-term range in the June E-mini NASDAQ is 1754.25 to
1874.25. This range creates a downside target today at 1814.25 to 1800.00. The
June E-mini Dow is testing its retracement level at 10017 to 9956.
Uncertainty is creating fear this morning and investors are
adjusting to this condition by paring long positions in the equity markets. A
lot of todayâ€™s downside action in the stock indices will depend upon the price
action in the Euro. At this time the Euro is testing last monthâ€™s low at 1.2140
indicating that more downside pressure is likely. A move through this bottom will
stock indices lower.
Stock investors are fighting a challenge between U.S. economic
news and global events. This week the U.S. is set to announce its recent
jobs data report. Fridayâ€™s release of U.S. Non-Farm Payrolls may have to take a
backseat to the developments in the Euro Zone overnight along with military
turmoil involving Israel and
the start of a conflict between North and South Korea.
September Treasury Bonds are up slightly overnight in
reaction to the weakness in U.S.
equities. Once again investors are driving down yields while seeking safety in
U.S. Treasury instruments. A panic in the stock indices is likely to drive the
September T-Bonds into a retracement zone at 124â€™03 to 124â€™18.
August Gold is trading higher after overcoming a retracement
zone at $1209.70 to $1219.50. With the main trend up, this zone is now expected
to become support. Traders are currently waiting to see how the impact of the
German Presidentâ€™s resignation affects the Euro. Another hard sell-off in the
Euro, will likely lead to more talk of the breakup of the single-currency which
will help increase upside pressure on gold. Traders have had a tendency to buy
gold as a hedge against the risk of holding paper assets.
The falling Euro and equity markets are helping to weaken
September Crude Oil. Traders are taking risk off the table this morning which
is helping to put a halt to the start of the retracement rally which began last
week. Based on the range of 92.18 to 69.62, traders had been looking for a
retracement to 80.88. The new short-term range of 69.62 to 77.66 indicates that
a minimum break to 73.64 to 72.69 is likely.
The event in German over the holiday week-end is triggering
a knee-jerk reaction in the financial markets this morning. So far the action
indicates that traders are taking a â€śwait and seeâ€ť attitude toward the
resignation of German President Kohler. The market leading the weakness
overnight is the Euro. This is what traders will be watching for direction in
the equity markets. So far the Euro has been holding at last weekâ€™s low,
however, heavy hedge fund selling through this level is likely to trigger an
even harder break in the equities markets than we saw last night.
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.