Forex Market Commentary and Analysis (16 June 2010)
The euro depreciated vis-√†-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2255
level and was capped around the $1.2350 level.The common currency moved off of intraday lows during the North American
session as U.S. equities reversed course and most of their intraday losses
evaporated.European Central Bank member
Quaden said the eurozone is unlikely to encounter a double-dip recession while
Bank of Israel Governor Fischer suggested some countries may not remain in the
eurozone.The Spanish government denied
rumours that Spain requires assistance with external finance.ECB member Gonzalez-Paramo called for a
revival of the securitization market in the eurozone and ECB member Ordonez
said bank restructuring will be complete before summer.The ECB again failed to get any bids in a
seven-day U.S. dollar term auction, the third consecutive time this has
happened, and this underscores the comparative attractiveness of swap
deals.The European Union today called
on countries to reduce their deficits, adding a ‚Äúcold shower‚ÄĚ consolidation
plan may be required in some instances.ECB
member Noyer called for more exchange rate flexibility and Germany‚Äôs Bundesbank
reported banks‚Äô capital requirements are likely to increase significantly.Data released in the eurozone today saw May
EMU-16 consumer price inflation increase 0.1% m/m and 1.6% y/y at the headline
level and 0.8% y/y at the core level.The ECB will publish its June monthly report tomorrow.In
U.S. news, data released today saw MBA mortgage applications climb 17.7%
while May housing starts were off 10.0% to an annualized 593,000 units and
building permits were off 5.9% m/m to an annualized 574,000 units.Also, May headline producer price inflation
was off 0.3% m/m and 5.3% y/y and the ex-food-and-energy component was up 0.2%
m/m and 1.3% y/y.Additonally, May
industrial production was up 1.2% with capacity utilization stronger at
74.7%.May consumer price inflation data
will be released tomorrow.There is
speculation that Fed officials may reduce their forecasts for U.S. economic
growth on account of European economic woes when policymakers convene next
week.In April, Fed officials estimated
the economy would expand between 3.2% and 3.7% in 2010.Euro offers are cited around the US$
The yen appreciated vis-√†-vis the U.S. dollar today as the
greenback tested bids around the ¬•91.10 level and was capped around
the ¬•91.80 level. Bank of Japan kept its
economic assessment unchanged overnight after improving its assessment in May
following better capital spending and foreign trade.The central bank reported Japan‚Äôs economy is
evidencing a ‚Äúmoderate economy‚ÄĚ and said the ‚Äúdegree of severity has eased
somewhat‚ÄĚ in employment and income conditions.The yen‚Äôs gains today were largely precipitated by renewed concerns over
Europe‚Äôs sovereign debt struggles. Yesterday, BoJ unveiled details regarding a ¬•3
trillion lending program to stimulate the economy and counter deflation.Data released in Japan overnight saw the
April tertiary industry index improve to +2.1% from the revised prior reading
of -2.7% while May machine tool orders were up 192.5% y/y.The Nikkei 225 stock index climbed 1.81% to
close at ¬•179.26.The euro moved lower vis-√†-vis the yen as the single currency
tested offers around the ¬•111.70 level and was capped around the ¬•113.30 level.The
British pound moved lower vis-√†-vis the yen as sterling tested bids around
the ¬•134.50 level while the Swiss franc moved
higher vis-√†-vis the yen and tested offers around the ¬•81.30 level. In Chinese news, the U.S. dollar appreciated
vis-√†-vis the Chinese yuan as the greenback closed at CNY 6.8334 in the
over-the-counter market, up from CNY 6.8333. It is being reported that China‚Äôs holdings of
U.S. assets may now be at or near all-time highs.
British pound depreciated vis-√†-vis the U.S. dollar today as cable tested
bids around the US$ 1.4745 level and was capped around the US$ 1.4830 level.New U.K. Chancellor of the Exchequer Osborne
announced Bank of England will obtain new powers to prevent financial crisis
and reduce credit risk.Osborne‚Äôs first ‚ÄúMansion
House‚ÄĚ speech is scheduled for tonight and more information about the U.K.
economy may be forthcoming.Osborne is
expected to give the BoE more responsibility for macro prudential
supervision.Former BoE Chief Economist
Vickers will lead a new panel to review the U.K. banking sector.Data released in the U.K. today saw the May
claimant count rate decline to 4.6% as the jobless claims were off 30,900.The April ILO unemployment rate ticked lower
to 7.9%.The euro came off vis-√†-vis the British pound as the single
currency tested bids around the ¬£0.8285 level and was capped around the ¬£0.8335
franc appreciated vis-√†-vis the U.S. dollar today as the greenback tested
bids around the CHF 1.1275 level and was capped around the CHF 1.1340 level.Swiss national bank will released its
interest rate decision tomorrow and is expected to keep its three-month Swiss
franc Libor target rate at 0.25%.Data
released today saw the June ZEW survey decline sharply to 17.5 from 40.5 and
data to be released tomorrow include Q1 industrial production.U.S. dollar offers are cited around the CHF
1.1470 level.The euro came off vis-√†-vis the Swiss franc as the single currency
tested bids around the CHF 1.3870 level while the British pound moved lower vis-√†-vis the Swiss franc and tested
bids around the CHF 1.6685 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.
Tue 19 June 2018 A 12:30 US- House Permits/Starts Wed 20 June 2018 A 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude Thu 21 June 2018 AA 11:00 GB- Bank of England Decision A 12:30 US- Weekly Jobless Fri 22 June 2018 AFlash PMIs
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.