Risk appetite fell on Friday, US data trumping continued decent company earnings. US equities began the decline during the European afternoon, and accelerated to -2.9% after a steep plunge in the US consumer sentiment survey to the lowest level in a year. Following the previous day's disappointments in the NY and Philadelphia manufacturing surveys, investors bailed. The VIX barometer of risk aversion rose slightly. Commodities also retreated, the CRB index 0.8% lower, as was oil, copper's 2.8% fall looking ominous. US 2yr treasury yields fell 2bp to 0.58%, a fresh record low, while 10yr yields fell 7bp to 2.92%, flattening the yield curve.
The US dollar index made a fresh 2-month low around 82 before the European afternoon saw a rebound on safe-haven buying. EUR did the reverse, peaking at 1.3008 around Europe, and falling to 1.2916. The yen outperformed all the majors, USD/JPY falling from around 87.30 to 86.27 and settling slightly higher. Carry and commodity currencies suffered most, the CAD falling from 1.04 to 1.0584 against the USD.
AUD fell from the Sydney close of 87.23 to 86.27 before recovering to 86.60. A general election data of 21 August was set after the close.
NZD suffered most, continuing the domestic session slump after a subdued inflation report, falling from 0.7200 to 0.7096. AUD/NZD rose to 1.2273, settling around 1.2220.
USCPI falls 0.1% in Jun. This reflected a 2.9% fall in energy prices and flat food prices, which offset the 0.2% core rate. Before rounding the core rate was 0.159%, so it was not such an upside surprise, despite higher auto and apparel prices and some renewed strength in the medical care component. The annual CPI slowed from 2.0% yr to 1.1% and the annual core rate was steady at 0.9% yr.
US May capital inflows in May. TIC data showed net long term flows of $35bn but total net flows of just $18bn, somewhat lower than we might have expected given that May supposedly saw safehaven flows into dollars as the European sovereign crisis intensified.
US consumer sentiment plunges 9.5 pts to 66.5 in the preliminary July report. This is a fall of a similar magnitude to declines in sentiment recorded after 9/11, Hurricane Katrina and the collapse of Lehman Bros. Expectations and current conditions shared the fall evenly. It adds to the weight of evidence pointing to deteriorating business and household confidence in mid 2010, consistent with our view that the US economy will record slower growth as the year progresses.
Japanese tertiary activity index declined by 0.9% in May; April's increase was revised up to 2.4%, previously 2.1%. This leaves the index 1.1% higher than a year ago. In May, the decline was relatively broad based with all but the IT and transport sectors declining in the month.
Euroland trade deficit EUR3bn in May. This was the first deficit since February last year, and reflected a 4.2% increase in imports (including a substantial oil component), which offset a 1.6% exports gain.
Canadian leading index up 1.0% in June, the fifth consecutive rise of 1% or more, pointing to still solid growth prospects heading into 2011.
AUD/USD and NZD/USD outlook next 24 hours: AUD looks weak, and should gravitate towards minor support around 0.8600. NZD's 2 cent plunge on Friday suggests it may pause around 0.7100 for a while before continuing to 0.7000.
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 12 Mar 2018 A 17:00 US- 3-Yr Auction Tue 13 Mar 2018 A 10:00 DE- ZEW Survey AA 12:30 US- CPI A 17:00 US- 10-Yr Auction Wed 14 Feb 2018 AA 12:30 US- Retail Sales A 12:30 US- PPI A 14:30 US- EIA Crude A 17:00 US- 30-Yr Auction Thu 15 Mar 2018 A 12:30 US- Weekly Jobless A 12:30 US- Philly Fed, Empire PMI A 12:15 US- Industrial Production Fri 16 Mar 2018 A 10:00 EZ- final HICP A 12:30 US- Housing Starts/Permits A 14:00 US- prelim Univ of Mich
John M. Bland, MBA co-founding Partner, Global-View.com
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.