User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday March 30, 2005 - 22:36:53 GMT
DailyFX.com - www.dailyfx.com

Share This Story:
| | Email

Forex: Dollar Treads Cautiously Ahead Of Heavy Data

DailyFX Fundamentals 03-30-05

By Kathy Lien, Chief Strategist of www.dailyfx.com

· Dollar Treads Cautiously Ahead Of Heavy Data
· Pound Unchanged Despite Weaker Retail Sales Data
· Yen Remains Under Pressure With Sharp Fall In Japanese Industrial Production

EURUSD

The dollar held onto its gains despite a weaker US GDP release ahead of what will be two days of heavy US, European and Japanese economic data. Jobs are on center stage as France and Germany present the latest reports on the health of their labor market. There are hopes for improvements in France, but German unemployment remains exceptionally high. The daily newspaper Berliner Zeitung reported that a non-seasonally adjusted 41,000 would be added on the month, while Reuters quoted a seasonally adjusted figure of 92,000, citing unidentified sources with knowledge of Federal Labor Agency data. These recent press leaks followed a claim by Die Welt newspaper a few days earlier that 20,000 job seekers would be added in March, pushing the total figure near a postwar unadjusted figure of 5.22 million. Though the sources disagree on the specific increase, there is little doubt that the legions of unemployed will swell for yet another month because of unusually cold weather and the continued impact of the Hartz labor market reform. Of course, the faltering economy’s weak activity growth is also to blame, as the latest business surveys have suggested, perhaps more than any other cause. An actual seasonally adjusted figure of 100K could push the unemployment rate past the 12.0% threshold, which would spell disaster for the euro.

USDCHF

Trading remained very cautious in the majors going into tomorrow’s personal consumption expenditures deflator and Friday’s non-farm payrolls reports. Although fourth quarter GDP in the US remained unrevised, the GDP price deflator was notched higher by 0.2%, from 2.1% to 2.3%. This confirms the Fed’s fear that inflationary pressures are rising and as a result, we could see a similar rise in the PCE report, which also happens to be the Greenspan’s favorite measure of inflation. The disappointing GDP release was a primary result of slower inventory growth. As for non-farm payrolls, estimates run the gamut from 165k to 300k according to the latest Bloomberg survey. Tomorrow’s Chicago PMI report and Help wanted Index should shed more light on the health of the labor market. So far, we know that the employment component of the Philly Fed Survey deteriorated in the month of March while the same data for the Empire State manufacturing survey actually reflected improving conditions. According to the Conference Board’s Consumer Confidence survey, more people found “jobs hard to get” during the month of March. Yet jobless claims remain low and supports continual strong job growth. As such, the dollar will be particularly sensitive to tomorrow’s labor market data as a precursor to Friday’s more important NFP report.

GBPUSD

The British pound was little changed against its two major counterparts today, losing a few pips to the dollar and gaining a few against the euro, despite a poor retail sales report. Though expectations were for a modest sales growth, the CBI’s retailers’ survey showed that retail sales had worsened in March, partially because of severe weather conditions at the beginning of the month. The CBI sales index dropped to a 6-month low, making this the worst performance since November 1992 in seasonally adjusted terms. While two Monetary Policy Committee Members had voted for a rate increase at the last meeting, weak consumer spending translates into a lesser chance for BOE rate hikes in the foreseeable future. This is especially true this time around given that recent inflation figures have come out lower than forecasted. The rate on the December Libor interest-rate futures contract has dropped to 5.06%, down from 5.21% at the beginning of the month, confirming the lesser likelihood of imminent hawkish monetary policy moves. No UK economic data is expected before Friday’s Mortgage Approvals and Consumer Confidence data, both of which should be little changed from last month.

USDJPY

Despite some intra-day volatility, the Japanese Yen closed relatively unchanged following yesterday’s decline. Japanese preliminary industrial production figures for February revealed that further disappointment in Japan’s economy. Industrial production fell at a seasonally adjusted, month-over-month rate of 2.1%, the worst decline in a year. The median forecast of 33 analysts suggested a fall of 1.1%. Additionally, the average lending rate in February decreased to 1.324% from 1.551%, again suggesting hesitant investors, wary consumers, and a worsening economy. Labor earnings information was also released today, showing stagnant earnings growth. The markets await tomorrow’s final fiscal year figures. Reports on March 31st, the last day of Japan’s fiscal year, include the Tankan manufacturing and industrial reports, which could register at worse-than-expected values given today’s industrial production figures. A weaker Tankan report could spur further gains in USDJPY.

 

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 20 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales


Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: High Fri-- 12:30 GMT CA- Retail Sales and CPI. Top economic indicators.


  • POTENTIAL PRICE RISK: HIGH Fri-- 14:00 GMT US- Existing Homes Sales. Top Housing statistic.



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