User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday July 30, 2010 - 01:11:25 GMT
Forex Hound -

Share This Story:
| | Email

Stock Markets Tumble after Fed’s Fisher Reiterates Economic Weakness

U.S. equity markets tumbled shortly after the opening after Dallas Fed President Fisher reiterated that the economy was weak. In an early morning speech Fisher said that growth from the first quarter on is “likely to fall below 3 percent for a prolonged period.” This comment didn’t sit well with investors who used it as an excuse to shed risky stock positions ahead of Friday’s well-anticipated Gross Domestic Product report.


Fisher’s comments covered a few major sectors, making the decline broad-based. His comments pressured the technology when he said software and equipment purchases “are closer to catching up with demand”. He cited weak manufacturing growth. Fisher called the housing market “dyspeptic”. He mentioned consumer anxiety. The sum of all of these previously mentioned factors “point to a slightly weaker national outlook”.


The trend is up in the Treasury markets but investors took a caution approach to the long side even though stocks weakened. Watch the September T-Bonds and T-Notes after the GDP report is released. A worse than expected report is likely to trigger a flight-to-safety rally in the Treasurys. A better than expected number is likely to lead to a sell off. At this time Treasury traders have priced in an annual rate growth of 2.5% to 2.7%. Depending on how much the actual number misses this range will determine the volatility in these markets.


Tomorrow the U.S. will release its preliminary Second-Quarter GDP Data. Investors are looking for this report to reveal a softening economy. Analysts expect U.S. GDP slowed last quarter to an annual rate of 2.5% from 2.7% in the first. A number showing a greater than expected decrease could drive equity and commodity markets sharply lower, setting off the possibility of a major flight to quality rally in the Dollar. Given the recent slew of weak economic data and dim outlook for the economy by Fed Chairman Bernanke, this is one report that should be watched carefully.


The Dollar was under pressure most of the day on Thursday. The Greenback opened lower against the major currencies but gained back a little after Dallas Federal Reserve President Richard Fisher said economic growth is likely to remain below 3% for a “prolonged period”. He also added that there would be a slow and “bumpy” improvement in jobs but without a second downturn.


Fisher’s information was not really fresh news. His comments seemed to reiterate the Fed’s assessment in its minutes from earlier in the month and Fed Chairman Bernanke’s testimony before the Senate a couple of week’s later. Traders may have overreacted in the equity markets today, but the move in the Dollar was expected. Furthermore, the fact that the Dollar strengthened a bit after the comments is an indication that a worse than expected GDP report on Friday could renew a flight-to-safety rally in the Dollar.


The Euro surged to 1.3105 for the first time since May shortly after U.S. equity markets opened, but was unable to hold this level as stocks corrected sharply during the trading session. The subsequent break triggered volatile moves throughout the session with the market retracing inside the 1.3105 to 1.3059 range several times.


The EUR USD began to break out to the upside last night buoyed by strong European earnings reports and the dim outlook for the U.S. economy. Some traders are factoring in the possibility that the European Central Bank may be in a position to raise its benchmark interest rate before the Fed acts upon the U.S. borrowing rate.


Technically the Euro is in a strong uptrend. The breakout above the last swing top at 1.3028 reaffirmed the trend as well as the crossing of the .618 retracement level at 1.2998. In order to sustain this rally, the currency has to close above 1.2998.


The British Pound traded higher but barely held on to earlier gains following a test of a major 50% level at 1.5635. Slowing the Sterling’s upside momentum today is a U.K. housing price report which showed that home values fell in July for the first time in five months. Tighter lending conditions and concerns that government spending cuts will slow economic growth were to blame for the drop.


Last week it was reported that the U.K. economy grew more than expected during the Second Quarter but that was before the implementation of new government austerity measures. Concerns that new taxes and spending cuts will hurt the economy could be the factors which contribute to the start of a short-term decline. Technically, investors should begin to watch for a technical closing price reversal top to signal the end of the current rally. At a time today, the Sterling was close to forming a reversal top, but bargain hunters were buying aggressively on the dips.


The New Zealand Dollar traded weaker versus the U.S. Dollar after the Reserve Bank of New Zealand hiked its key lending rate by 25 basis points to 3.00%. Although this hike was expected, the main reason behind the weakness is the comment from RBNZ Governor Alan Bollard. The central bank Governor stated after the report that the “pace and extent” of future increases would be more moderate than earlier projected. Investors read this a sign that the central bank will refrain from an additional rate hike at its next meeting on September 15.


Technically the Kiwi reached its closing price reversal top objective at .7211. A normal reaction to this pattern is a 2 to 3 day decline of 50% of the last swing up. Further weakness will be indicated if .7211 fails to hold as support. Weakness in U.S. equities may trigger a further decline on Friday.







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 15 December 2017

Register for the Amazing Trader


Amazing Trader EVENT RISK Calendar:

Thu 14 Dec
23:50 JP- Tankan Survey

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook

Potential Trading Opportunities

  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --23:50-- JP- Tankan Survey
John M. Bland, MBA
co-founding Partner, EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated


Trader's Advocate Articles..


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.



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