User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday June 23, 2010 - 14:34:32 GMT
Forex Hound - www.forexhound.com

Share This Story:
| | Email

Demand for Higher Risk Currencies Underpin Equities

The U.S. Dollar is trading weaker against most majors this morning ahead of this afternoon’s Fed announcement. Volume is expected to be light, but traders should expect increased volatility because of thin trading conditions.

 

The big mover overnight is the September British Pound. After an early sell-off on Tuesday morning, the Sterling righted itself following the U.K. budget announcement. Going into the meeting there appeared to be uncertainty. Following the announcement, investors seemed optimistic about the new government’s ability to instill austere financial measures to solidify the economy.

 

Fundamentally the Sterling received a boost overnight after minutes from the Bank of England’s latest interest rate policy meeting showed one member wanted to raise rates.

 

Technically the British Pound survived a test of a 50% level at 1.4686. This morning’s strong rally has created enough upside momentum to challenge a .618 level at 1.4947. A breakout over this level is likely to trigger an acceleration to the upside.

 

This morning the September Euro is trading slightly better in limited action. On Tuesday, the September Euro was under pressure most of the day following Monday’s technical closing price reversal top and renewed European banking concerns following the downgrading of BNP Paribas earlier in the week.

 

Traders took profits on long positions and shorts reapplied pressure following a 10 day rally which saw the single-currency rally from 1.1876 to 1.2467. Investors are concerned that the Fitch downgrading of BNP Paribas may only be the tip of the iceberg as several other banks may be inline to accept a similar downgrade.

 

Technically the Euro confirmed Monday’s closing price reversal top and is well on its way to reaching its first objective at 1.2171, followed by 1.2102. This will be a critical test for the Euro. Bullish traders will try to build a secondary higher bottom in this retracement zone. If the recent rally was truly only short-covering then this area will be meaningless as renewed short-selling will dominate the trade.

 

Stocks are expected to open flat to better. Traders are taking a cautious approach to the markets this morning ahead of this afternoon’s Fed announcement. Under pinning the market is stronger demand for risky currencies.

 

U.S. equity markets broke sharply on Tuesday after disappointing housing data encouraged profit-taking after the recent strong run-up and investors expressed worry about the strength of the economic recovery. The weakness in the equity markets was broad-based as all sectors including industrial, energy and consumer were hit with selling pressure. Strength in regional manufacturing may have helped limit losses.

 

The stock market was under pressure overnight Tuesday following a technical reversal top on Monday and renewed concerns about the European banking industry. Investors were also leaning on the market on speculation that China’s central bank was going to intervene to slow down the pace of the Yuan’s rise. This further aggravated investors who believed that China’s decision to allow the Yuan to rise against the Dollar was going to mean bigger profits for U.S. exporters and manufacturers.

 

Investors tried to hold the equity markets in check early in the trading session but bids were pulled and selling pressure increased when the U.S. announced that sales of previously owned homes in the U.S. slipped 2.2% in May to a 5.66 million annual rate. Because the decline came following two months of increases, traders were surprised by the news. Many blamed the end of the government’s tax incentive program for first time buyers for the loss.

 

Continuing to weigh on trader’s minds was the debt banking situation in Europe. Following Monday’s downgrade by the Fitch credit rating service of BNP Paribas, traders remained nervous throughout the day. Investors are now questioning whether other European banks will face similar crises.

 

Technically the September E-mini S&P 500 confirmed Monday’s closing price reversal top. This chart pattern suggests a 2 to 3 day break to at least 1083.25 to 1072.50. Traders should watch for a minimum correction in the September E-mini NASDAQ to 1854.75 to 1834.50. The September E-mini Dow chart suggests a break to 10073 to 9964 is likely over the near-term.

 

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 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.


  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

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