The euro appreciated vis-√†-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3335
level and was supported around the $1.3155 level. The common currency reached its strongest
level since 3 May of this year as dealers reacted to weaker-than-expected U.S.
economic data that evidenced a worsening U.S. labour market at the end of the
second quarter and beginning of the third quarter.July non-farm payrolls were twice as bad as
expected, printing at -131,000, and June‚Äôs result was downwardly-revised from
-125,000 to -221,000.The unemployment
rate was unchanged at 9.5% and July average hourly earnings were up 0.2% m/m
and 1.8% y/y.Other data saw July
average weekly hours worked tick higher to 34.2 from 34.1.One bright spot saw 71,000 new private jobs
created and 36,000 new manufacturing jobs created but the overall result was
considerably worse and will receive due attention from Federal Open Market
Committee policymakers when they convene next week.Most traders believe the Fed will keep rates
unchanged but there is a possibility that officials could allude to revisiting
some credit easing programs to bolster an economy that is decelerating.Many dealers do not believe the Fed will
return to outright asset purchases at this time.One possibility next week is that the Fed may
decide to reinvest some of the proceeds it receives from maturing mortgages it
owns back into the market as a way to ease policy further.Others believe the Fed will resort to buying
U.S. Treasuries to keep a lid on market rates.Other data released today saw June consumer credit come in at ‚ÄďUS$ 1.3
billion from the previous result of ‚ÄďUS$ 5.3 billion.U.S. investment banking giant Goldman Sachs
today downgraded its economic forecasts for 2011 in response to recent economic
activity.In eurozone news, German June industrial production was off 0.6%
m/m and up 10.9% y/y while the French June trade deficit narrowed to -‚ā¨3.8
billion.The European Central Bank
yesterday voted to keep monetary policy unchanged and is expected to keep rates
on hold for some time.ECB member Bini
Smaghi said he does not see deflation in the ‚Äúnear future.‚ÄĚEuro offers are cited around the US$
The yen appreciated
vis-√†-vis the U.S. dollar today as the greenback tested bids around the ¬•85.00
figure and was capped around the ¬•86.15 level. Traders continued to drive the pair lower,
testing the psychologically-important ¬•85.00 figure that has been rumoured for
weeks to be an area that Japanese monetary authorities want to protect through
yen-selling intervention.There was no
chatter after the pair tested the level that official bids were seen but
dealers were clearly unwilling or unable to push the pair below the
figure.Bank of Japan‚Äôs Policy Board
convenes next week and is not expected to alter monetary policy.Many BoJ-watchers believe the central bank
will eventually be forced by the government to purchase more assets to counter
Japan‚Äôs deflation problem.Japan‚Äôs
economy is plagued by a strong yen, weak final private demand, and deflation
and the Japanese government‚Äôs ability to enact fiscal stimulus is limited by
its massive national deficit.It was
reported overnight that July official reserve assets increased to US$ 1.063
trillion while the June leading index and coincident index improved to 98.9 and
101.3, respectively. Japanese
authorities are expected to increase their verbal intervention and associated rhetoric
early next week.The Nikkei 225 stock index
lost 0.12% to close at ¬•9,642.12.U.S.
dollar bids are cited around the ¬•85.30 level.The euro moved higher vis-√†-vis the yen as the single currency
tested offers around the ¬•113.70 level and was supported around the ¬•112.55
level.The British pound moved lower vis-√†-vis the yen as sterling tested bids
around the ¬•135.45 level while the Swiss
franc moved higher vis-√†-vis the yen and tested offers around the ¬•82.40 level.
In Chinese news, the U.S. dollar depreciated
vis-√†-vis the Chinese yuan as the greenback closed at CNY 6.7686 in the
over-the-counter market, down from CNY 6.7714. People‚Äôs Bank of China reported there is no
reason for major fluctuations to the yuan‚Äôs exchange rate.PBoC absorbed US$ 295 million in liquidity
from the money markets this week.Data
to be released next week include July producer prices, July consumer prices,
July retail sales, and July industrial production.
British pound appreciated vis-√†-vis the U.S. dollar today as cable tested offers
around the US$ 1.5995 level and was supported around the US$ 1.5840 level.Dealers stopped just short of testing the
psychologically-important US$ 1.6000 figure following the weak U.S. labour
data.Many data were released in the
U.K. today.July producer price
inflation input was off 1.0% m/m and up 10.8% y/y and July PPI output prices
were up 0.1% m/m and 5.0% y/y at the headline level and up 0.2% m/m and 4.7%
y/y at the core level.Additionally,
June industrial production was off 0.5% m/m and up 1.3% y/y and June
manufacturing production was up 0.3% m/m and 4.1% y/y.Also, the July NIESR GDP estimate came in at
+0.9%, down from the revised prior print of +1.1%.Bank of England‚Äôs Monetary Policy Committee
kept interest rates unchanged yesterday, as expected, and the Bank‚Äôs quarterly
inflation report will be released next week.Cable bids are cited around the US$ 1.5640 level.The
euro appreciated vis-√†-vis the British pound as the single currency tested offers
around the ¬£0.8335 level and was supported around the ¬£0.8290 level.
franc appreciated vis-√†-vis the U.S. dollar today as the greenback tested bids
around the CHF 1.0330 level and was capped around the CHF 1.0505 level. Data released in Switzerland today saw the
July unemployment rate tick lower to 3.6% from the prior level of 3.7%.Data to be released next week include the
July SECO consumer confidence index and July producer and import prices.Swiss finance minister Merz will retire in
October.S&P withdrew its short-term
ratings of ‚ÄúAAA/A-1+‚ÄĚ on Swiss National Bank on account of the lack of rated
debt outstanding.Swiss National Bank
reported this week that its foreign reserves declined for a second consecutive U.S.
dollar offers are cited around the CHF 1.0980 level.The
euro depreciated vis-√†-vis the Swiss franc as the single currency tested bids
around the CHF 1.3745 level while the
British pound moved lower vis-√†-vis the Swiss franc and tested bids around
the CHF 1.6510 level.
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production
POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision
John M. Bland, MBA co-founding Partner, Global-View.com
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.
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.