Weak Economy, Technical Reversal Could Trigger Stock Market Break
Overnight stock futures are showing slight gains. Selling in
Asia and a 4.2% drop in Google stock is likely
capping the market in the pre-market. News that Goldman Sachs reached a
$550,000 settlement with the SEC has had very little impact on the market.
Trading has also been light ahead of the release of earnings data from
Citigroup, General Electric and Bank of America.
September Treasuries are trading flat ahead of the opening.
Expectations are for T-Bond and T-Note yields to continue to drop amid concerns
about a weakening U.S.
economy and speculation the Fed is likely to keep interest rates at
historically low levels for a prolonged period of time.
The U.S. Dollar is gaining ground against most major
currencies with the exception of the Euro and the Japanese Yen. The September
Euro is still showing strength due to the upbeat news regarding the Spanish
debt auction. Gains could be limited if weakness prevails in the U.S. equity
markets and if traders begin to pare positions ahead of next weekâ€™s European
bank stress test data.The September
Japanese Yen is rising toward its highest level of 2010 as signs the U.S. economy is
losing momentum added to speculation the Fed will leave interest rates near
This morning the U.S. government is expected to
announce that household sentiment deteriorated and consumer inflation fell.
Both of these reports are expected to weigh on the Dollar and could trigger a
decline in the U.S.
equity markets once traders digest this morningâ€™s earnings news from Citigroup,
Bank of America and General.
stock futures markets posted daily closing price reversal tops on Thursday,
sending a signal that a correction may be looming. It is going to take a break
through Thursdayâ€™s lows however to confirm the formation which would then
trigger the possibility of a 2 to 3 day break or 50% correction of the last
Early in the trading session, good news from J.P. Morgan
equities for a short-time before the markets caved in due to pressure from the
On Wednesday the Fed released a less than stellar outlook
for the economy, but it was Thursdayâ€™s bearish inflation and manufacturing
reports which encouraged investors to take profits, driving stock prices lower.
Throughout this week, stock prices have been driven higher
by investor optimism and a bullish outlook for strong earnings. Investors for
the most part chose to ignore economic data, but the Fedâ€™s outlook yesterday
and todayâ€™s reports finally made them sit up and take notice. The bottom line
is, despite better than expected earnings during the second quarter, the
economy is losing steam. Traders could begin pricing in the prospects of a
double-dip recession, thereby pressuring equities.
September Treasury Bonds surged on Wednesday following the
release of the Fedâ€™s dismal outlook for the economy. This drop in yields was a
strong sign that interest rates were headed lower and that the Fed would keep
its benchmark interest rate low for a prolonged period of time.
On Thursday, this market continued to move higher as money
flowed out of equities and into the fixed income market. A new higher bottom
was formed at 125â€™07. Upside momentum indicates that the market could test the
year for the year at 128â€™19 over the near-term.
August Gold finished slightly lower but remained rangebound
as traders assess the current trading conditions. On one hand, the bulls want
to buy gold because of the weakening Dollar, but the bears want to sell gold
because of the possibility of a deflationary scenario developing in the U.S.
In addition, the soaring Euro may be prompting the unraveling of more Long
Gold/Short Dollar spread positions. Until market conditions are clarified, Iâ€™m
leaning to the short-side as the main trend is down and the market has yet to
correct to the major 50% level at $1158.30.
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 17 July 2018 AA 08:30 GB- Employment A 13:15 US- Industrial Production AA 14:00 US-Powell Testimony Wed 18 July 2018 AA 08:30 GB- CPI A 12:30 US- Housing Starts/Permits AA 14:00 US-Powell Testimony Thu 19 July 2018 AA 1:30 AU- Employment AA 08:30 GB- Retail Sales A 14:30 US- EIA Crude A 12:30 US- Weekly Jobless Fri 20 Jun 2018 A 12:30 CA- CPI/Retail Sales
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.