User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday August 9, 2010 - 14:22:05 GMT
Forex Hound -

Share This Story:
| | Email

Stocks and Gold Likely to Battle for Control of Investment Dollars

Stocks are trading higher overnight and the Dollar is trading mixed. Without any major U.S. economic reports this morning and the Fed meeting on Tuesday, trading could be light and directionless today. On the other hand, sometimes thin trading conditions trigger wild swings so investors should be on their toes so as to not get caught on the wrong side of the market.

With Friday’s Non-Farm Payrolls report behind them, traders will have to wait until Tuesday afternoon before getting any fresh market driving economic news. Although Friday’s employment data was disappointing, investors still are not sure if it was weak enough to warrant an immediate change in the Fed’s monetary policy. Pessimistic traders believe the Fed has enough evidence of an economic slowdown to renew its quantitative easing program. Optimistic traders think the Fed will alter the language a little in its policy statement, but hold off for another month before reintroducing stimulus.

Two markets to key on before the Fed decision will be December Gold and the September E-mini S&P. Gold as surged recently following a long sell-off on speculation that equities may break. Both markets compete for the same investment Dollar. Stocks have maintained an upward bias but have been rangebound because of indecision about the status of the economy.

This morning it looks as if equities are once again looking bullish while gold is trading flat. With gold nearing a retracement level and equities poised to break out to the upside, watch for a rally in stocks to trigger a profit-taking break in gold. According to the charts, only a break through last week’s lows in the equity markets can help gold maintain its upward bias. One of these markets has to give in to investor demands. In summary, higher stocks should lead to a weaker gold market.

December Gold surged to the upside on Friday, finishing the week in a strong position as traders bought the metal as a hedge against a potential drop in the equity markets and because of the weakness in the Dollar.

The close put the market in a position to test a major 50% price level at $1215.00. This price represents a retracement of the $1270.60 to $1159.30, June to July sell-off. After briefly piercing a downtrending Gann angle at $1212.60 today, the market settled back indicating there may be sellers up here. This is also a sign that more sellers may show up once the market completes the 50% retracement. Long traders should watch for a technical bounce at this level. The chart pattern suggests there may be a pull-back to $1186.30 sometime next week.

The strong surge in the September T-Notes and T-Bonds is an indication that investors are betting on new language in the Fed’s policy statement following this week’s August 10 meeting.

Investors expect the Fed to change the language it has been using to describe the length of the current economic slow down. In addition, investors are looking for the Fed to announce the renewal of its asset buyback program.

I’ve said this a countless number of times, but I’ll say it again, the bonds are the best indicator for the economy. As long as the Treasuries continue to maintain their higher-top, higher-bottom formation, look for the economy to remain weak.

Stocks were under pressure since the release of the jobs data early Friday morning. The markets sold off as the news was what not what investors expected, however, the ability to hold the markets in a range most of the day indicates that it was only disappointing and not earth-shattering.

Despite trading lower on Friday, the markets managed to hold on to their gains for the week. The rally, however, does appear to be running out of steam. Only a follow-through to the downside will confirm this analysis. If Friday’s low holds, then stocks could begin a breakout to the upside.

The British Pound is hugging a key Fibonacci retracement level against the Dollar amid speculation the Fed will announce a renewal of stimulus measures to boost the economy at its FOMC meeting on Tuesday.

The Sterling is continuing its rally from Friday after forming a new main bottom at 1.5819. Trading has been light with the range tight as the market toys with a major retracement level at 1.5967. Early last week the Pound made a top at this level, leading to the break to 1.5819. The key to sustaining this rally will be a close above 1.5967. Intraday traders should watch to see if support can be established at this price level if it can be regained. The uptrend will remain intact as long as the new main bottom at 1.5819 holds as support.

Concerns about the U.S. economy weakening are helping to make the British Pound an attractive investment at this time. While the U.S. has been struggling to maintain growth, the U.K. economy has remained relatively firm.

Investors have been optimistic about the U.K. currency since the new coalition government took control in May. Although they immediately proposed spending cuts and tax hikes, investors have embraced their decisions as necessary for the economy. The fear at the time was that a growing spending deficit would lead to a downgrade of U.K. debt.

Although the U.K. economy remains on path toward sustaining its recovery, some investors still feel that some stimulus may be necessary to maintain growth. They cite the tax hikes and austerity measures as the main reasons why the economy may stall during the third and fourth quarters.

A Fed decision on Tuesday to reintroduce stimulus measures should be enough to propel the British Pound higher. Should the Fed back away from a reintroduction of stimulus measures then look for the Sterling to weaken as speculators reassess their positions. The Fed is either going to act now because they see the situation worsening or wait another month because its interpretation of the economic data does not warrant immediate action.


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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final 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