Global and U.S.
equity markets were trading better ahead of the New York opening. Investors bought stocks
last night after the G-20 nations pledged to maintain stimulus plans until
their economies fully recovered. The pumping of money into the economy has been
one of the main catalysts throughout this entire 15 month rally.
The September E-mini S&P 500 is resting on a .618
support level at 1072.50 this morning. Building a support base at this level
could trigger the start of a rally back to 1096.00. On Friday this index made a
daily closing price reversal bottom at 1062.75. A follow-through to the upside
will be further evidence of building strength.
Traders will be watching todayâ€™s personal income and
personal spending reports for direction, but the main market mover will be the
Case-Shiller housing report. Last week a pair of bad housing reports as well as
a dovish outlook for the economy by the Fed helped drive stocks lower.
September Treasury Bonds and Treasury Notes are sitting on
their lowest yields of the year. Last weekâ€™s dovish comments from the Federal
Open Market Committee encouraged traders to buy Treasury instruments because
the Fed is likely to keep interest rates low for a prolonged period of time.
economic data will encourage investors to take profits at current levels.
The U.S. Dollar traded mixed overnight as traders mulled
over the suggestions of this weekendâ€™s Group of 20 meeting. At the conclusion
of the meeting on Sunday, G-20 members reached an agreement on common goals for
deficit and debt reduction. After the Asian markets opened, traders made a move
toward risk but quickly turned sellers when it became clear that the G-20
decision would have little impact on todayâ€™s trade because of its neutral
Based on the overnight trading action, it looks as if
todayâ€™s markets will largely be determined by U.S. and European economic data.
Last weekâ€™s poor U.S. housing data pressured the
Dollar against the Euro and British Pound as traders looked toward these
currencies for a better return on investment. With the U.S. economy weakening and the Fed
taking a dovish stance on the economy, many traders felt the Fed would keep
interest rates low for a prolonged period of time.
and the U.K.
on the other hand have decided to adapt more austere financial measures to help
cut their deficits. This made their respective currencies more attractive. Or
did it? Some investors feel this week that the Dollar was actually being sold
because of the weakening economy rather than these currencies being bought.
The Commodity Trading Commissionâ€™s Commitment of Traderâ€™s
Report confirmed this conclusion as Net Shorts in the Euro rose to 70,974 on
June 22nd from 62,360 a week earlier.
The U.S. Dollar may gain today if the economic news
continues to surprise to the downside.At some point, safe haven flows will likely resume with the U.S. Dollar
and Yen rallying further if risk demand fades with the weakening global
Todayâ€™s Personal Income and Personal Spending reports will
give traders a clue as to how much consumers are earning and how much they are
spending. The Case-Shiller report will offer investors another look at the U.S.
Housing market. Should these reports come out weaker than expected then look
for traders to seek safety in the Greenback.
At the G-20 summit, world leaders pledged to maintain
stimulus plans until their economic recoveries are solidly in place. Based on
the decision to raise bank capital requirements, it is clear that they will
need to raise significant levels of capital. This could slow down the rate of
economic growth because it will mean capital will have to leave the economy.
Furthermore, the Dollar may gain on the thought that the
austere financial measures taken by Germany
and the U.K.
will actually slow down global economic growth. Some feel that because of the
weak U.S. economy, the Fed
will have to continue to maintain its stimulus while Germany
and the U.K.
will actually be cutting spending. If this becomes the case then it means that Germany and the U.K. will be counting on a weaker
Euro and British Pound to increase demand for exports while their economies use
the weaker currencies to pull out of their economic downturns. Some investors
believe that Germany and Great Britain
may be cutting their deficits too soon.
The key to the Forex markets today and most likely this week
will be U.S.
economic data. Everyday this week, key economic data will be released, ending
with the June Employment number on Friday.
After this weekâ€™s G-20 leaders decided to focus on deficit
and debt reduction, weak economic reports this week may make these countries
change their minds about enacting austere financial measures too soon if U.S.
economic reports indicate a more dovish economy. Countries are walking a fine
line right now as to whether to cut spending or maintain stimulus.
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 31 July 2018 AA JP- Bank of Japan A 06:00 DE- Retail Sales A 09:00 EZ- flash HICP/GDP AA 12:30 US- Core PCE Deflator A 14:00 US- CB Consumer Confidence Wed 1 Aug 2018 A Final Mfg PMIs AA 12:15 US- ADP Private Payrolls A 15:00 US- EIA Crude AA 18:00 US- Federal Reserve Decision Thu 2 Aug 2018 AA 11:00 GB- Bank of England Decision A 13:30 US- Weekly Jobless Fri 3 Aug 2018 A Final Services PMIs AA 12:30 US- Employment A 12:30 US/CA- Trade
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.