User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday August 13, 2010 - 14:21:10 GMT
Forex Hound -

Share This Story:
| | Email

Stocks Trading Lower Ahead of Key U.S. Economic Reports

 Overnight stock indices enjoyed a brief rally following stronger than expected German GDP and a report showing a rise in New Zealand retail sales, but the markets could not hold on to their gains as investor focus shifted back to the U.S. economic reports due out later this morning.


Earlier in the session it looked as if trader sentiment was shifting back toward risk as equities traded higher while the Dollar weakened. Demand for higher risk assets made it look as if the tone of the day was turning bullish for commodities and stocks. This outlook shifted, however, when the Euro turned negative, taking equity prices with it.


It now appears that the optimism created early in the session is gone and investors are reverting to the pessimism about the global economy that has influenced the trading action since Tuesday when the Fed took action to loosen its monetary policy.


Using the September S&P 500 as our bogie, traders should look for a steady to weaker opening based on the current conditions. The charts indicate that this market still has the time and the room to complete a 50% retracement of the rally from 1002.75 to 1127.75 at 1065.25. Additional support may come in at an uptrending Gann angle from the 1002.75 bottom at 1058.75. If both of these levels fail to hold, then look for a test of the Fib retracement level at 1050.50.


At this time I don’t have a grasp on the expected volatility for today so traders will have to monitor this when the market approaches each of the aforementioned levels. In addition to the volatility, traders should also watch the order flow to see if a buyer emerges.


September Treasury Bonds extended their overnight gains when the Euro and equities weakened. Earlier this week the Fed set in motion the current up leg when it announced it would maintain its balance sheet buy shifting resources from mortgages to Treasury Bonds. Additional support for this market could also come from flight-to-safety buying if equities weaken substantially during the day session.


December Gold is trading higher although it appears investors are on the sidelines at this time waiting for the other markets to settle on a theme for the day. Yesterday this market broke a pair of downtrending angles, triggering a surge to a key 50% level at $1215.00. The close over this level suggests a bullish tone is developing which could send this market to the next upside target at $1228.00.


The key to the gold market today will be the direction of the stock market. Since equity and gold traders are competing for the same investment dollar, a break in the stock market could send gold soaring. On the other hand, if stocks find support in the identified areas, gold could begin a profit-taking break.


The September Euro is up this morning following a four-day setback which saw the currency drop from its highest level since late April. After reaching a low at 1.2780 on Thursday, the Euro has recovered slightly from this level and is now resting on an uptrending Gann angle at 1.2856.


This angle is a key balancing point and must hold in order to trigger the start of a short-covering rally back to 1.3057. A failure to hold this potential support angle could trigger further weakness which will eventually lead to a decline to a major 50% level at 1.2605.


Overnight the Euro received some support following the release of a report which showed the German economy grew at the fastest pace in two decades. This news helped underpin the market, leading to speculation that Europe is on a path to recovery.


Germany’s gross domestic product rose 2.2 percent in the second quarter from the first quarter. This growth rate was higher than analyst estimates of 1.3 percent and represented the fastest pace since 1991. The news helped trigger some light buying and short-covering, but gains may have been limited because this news is backward looking. At this time, traders are concerned about future economic growth.


The September Japanese Yen is gaining back some of its losses from the last two days, but is still in a position to post a weekly closing price reversal top. Last week the Japanese Yen closed at 1.1695, but after reaching a 15-year high this week, broke, putting it in a position today to finish lower for the week. A closing price reversal top once confirmed by follow-through selling often leads to the start of a 2 to 3 week correction which culminates at a major 50% price level. In this case, the potential downside target is 1.1176. A failure to close lower this week sets up the Dollar/Yen for further upside action next week.


The current two-day break in the September Japanese Yen has most likely been a reaction to the “verbal intervention” by the Japanese government earlier this week. Some traders feel the government will intervene at this time, but doubts still linger about its effectiveness.


According to the Bank of Japan minutes from the July 14-15 meeting published overnight, the BoJ is closely monitoring the effect of a strong Yen and falling stock prices on the economy.  If one interprets this to mean that the BoJ is seriously considering an intervention at this time, then this news will act as the catalyst to drive the Yen sharply lower.


Today traders will get a chance to react to a series of U.S. economic reports. The key reports which should dictate the tone for the day are the CPI and Retail Sales.  The CPI report is expected to show an increase of 0.1%. A negative number is likely to pressure stocks and send T-Bonds higher. Retail Sales are called 0.5% better. Like the CPI, a lower number will be bearish for stocks.


Later in the morning, the Michigan Sentiment report is expected to show a small decline. This report is expected to reflect the growing pessimism in the economy over jobs and housing. Business Inventories may show a slight rise.

Traders should watch the Euro and the asset-linked currencies for clues as to the stock market’s direction. Look for equities to rally if the Euro turns higher and the Australian and New Zealand Dollars turn positive.



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

Tue 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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