User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday July 21, 2010 - 07:16:11 GMT
Forex Hound -

Share This Story:
| | Email

Aussie Dollar Rallies on Interest Rate Talk

The Australian Dollar rebounded on Tuesday following a three-day setback boosted by stronger U.S. equity markets and increased demand for currency-linked commodities. Speculation mounted that the central bank would raise interest rates before the end of the year following news that the Asian Development Bank increased its growth forecast for China. This encouraged investors to buy the Aussie in anticipation of improved economic conditions because of increased demand for Australian raw materials.


Technically, the AUD USD maintained its uptrend despite the short-term correction to .8632. The strong move on Tuesday puts the Aussie in a position to take out the swing top at .8870 and the .618 retracement level at .8883. A penetration of these two levels is likely to trigger an acceleration to the upside.


The strong rise in the Australian Dollar along with talk of another interest rate hike by the Reserve Bank of Australia triggered a strong rally in the New Zealand Dollar. With the Aussie’s likely to hike rates before the end of the year and the Bank of Canada setting its benchmark rate 25 basis points higher this morning, Kiwi investors gained confidence that the Reserve Bank of New Zealand would be next in line to adjust interest rates higher.


Technically, the NZD USD rebounded after testing the 50% level of the .6794 to .7303 range. The main trend is up, but the market may run into minor resistance at .7166 to .7198.


After trading in a tight range most of the morning, pressure from rising equity prices and commodities finally ignited a sell-off in the USD CAD. Early this morning, the Bank of Canada hiked its benchmark interest rate by 25 basis points. This increase was in line with expectations, but the dovish tone of the policymaker’s statement helped hold the Dollar/CAD inside a tight range most of the morning. Once U.S. equity markets rebounded from a weaker opening, traders aggressively bought the Canadian Dollar.


Technically, the USD CAD is still locked inside of two ranges. The broad range is .9929 to 1.0853 with a mid-point of 1.0391. The narrower range is 1.0853 to 1.0137 with a mid-point of 1.0495. Currently this pair is trading between the mid-points of each range.


A rumor of a possible intervention by the Bank of Japan helped underpin the USD JPY on Tuesday. A turnaround in the stock market pressured demand for lower yielding currencies, thereby adding to the bullishness of the Dollar/Yen. Although an intervention from the BoJ is possible, traders are taking a precautionary approach to the long side due to the fact that the strength in the Yen has been caused by a weakening U.S. economy and not excessive speculation. The BoJ is worried that the strengthening Yen will lead to decreased demand for Japanese exports. Investors are likely to remain short until the swing top at 89.15 is violated. A breakout above this point will turn the main trend to up, setting up a possible rally to 90.62.


The British Pound rebounded against the Euro after Hungary’s smaller-than-expected debt auction renewed sovereign debt concerns in the Euro Zone.


Early in the session the British Pound was under pressure due to concerns about the economic recovery triggered by a weaker-than-expected budget deficit and lower mortgage approvals.


Technically, the GBP USD survived a two-day break while keeping the main up trend in tact. Tuesday’s strong upside momentum indicates the market may have enough power to test the last swing top at 1.5471. A new main bottom at 1.5152 may also form, adding to the Pound’s growing series of higher bottoms.


The biggest concern facing the Pound at this time is whether the U.K. economy can strengthen enough to trigger a rate hike by the Bank of England. Traders are extremely worried that the economy will weaken further because of the newly approved austerity measures.  This would make the U.K.’s debt rating vulnerable to a downgrade by the ratings agencies.


The EUR USD traded lower, pressured by sovereign debt concerns in Europe following poor demand for Hungary’s debt. Profit-taking ahead of Friday’s release of the European bank stress tests results added to the weakness. Traders are nervous about what the report will reveal. Some feel the test wasn’t stringent enough; others feel that it will show several banks need to raise more capital.


After testing a Fibonacci retracement level at 1.2998 and trading all the way to 1.3028, the Euro posted a daily closing price reversal top on Tuesday. This is the second such reversal in two days signaling increasing selling pressure. A follow-through to the downside is needed to confirm the reversal. Watch for weakness to develop if the 50% level at 1.2783 fails to provide support.


Over the near-term, stronger demand for higher risk assets is likely to continue to underpin the commodity-linked currencies. Profit-taking is expected to continue to pressure the Euro as traders await Friday’s European bank stress test results.



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."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

John M. Bland, MBA
co-founding Partner,

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.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

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.

Request a TRIAL of Max's Forex Service.


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

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 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105