The euro appreciated vis-√†-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2900
figure and was supported around the $1.2770 level.The common currency bounced higher off the
100-day moving average during the North American session but failed to sustain
a brief test of the US$ 1.2900 figure.Traders
cited few fundamental reasons to get long the common currency after U.S. weekly
initial jobless claims increased to 500,000 from the revised previous total of
488,000 while continuing jobless claims came off to 4.487 million from the
revised total of 4.491 million.These
data suggest the unemployment problem in the U.S. is not improving much and
there continue to be a significant amount of disenfranchised jobseekers who are
leaving the labour market.Other data
today saw the August Philadelphia Fed index reverse course and weaken to -7.7
from the July reading of +5.1.Also,
July leading indicators gained steam and printed at +0.1%, up from the prior
reading of -0.3%.The July Chicago Fed
national activity index will be released on Monday.The Fed purchased US$ 3.609 billion of
Treasuries today as part of its program to reinvest maturing mortgage debt into
long-term government debt and this took the Fed‚Äôs total purchases since the
program started on 17 August to US$ 6.16 billion.St. Louis Federal Reserve Bank President
Bullard today said ‚ÄúShould economic developments suggest increased disinflation
risk, purchases of Treasury securities in excess of those required to keep the
size of the balance sheet constant may be warranted.‚ÄĚBullard also said ‚Äúlabour reallocation will
take a long time.‚ÄĚIn eurozone news, German July producer prices were up 0.5% m/m and
3.7% y/y.Many EMU-16 economic data will
be released on Monday.Euro offers
are cited around the US$ 1.3240 level.
The yen appreciated
vis-√†-vis the U.S. dollar today as the greenback tested bids around the ¬•84.90
level and was capped around the ¬•85.90 level. Australasian traders pushed the pair to
intraday highs buy European and North American traders bought the yen back in a
very volatile session.Bank of Japan
officials are said to be still deliberating the impact of the yen‚Äôs rise to a
fifteen-year high.The yen moved lower
overnight on a Japanese media report that the BoJ will expand a ¬•20 trillion
credit program to as much as ¬•30 trillion.Prime Minister Kan and BoJ Governor plan to meet next week and there is
speculation the two will try to coordinate policy further.U.S. banking giant JPMorgan Chase has
reported the probability of yen-selling intervention is at a six-year high of
51%.Vice finance minister Minezaki
verbally intervened saying ‚ÄúI‚Äôm a bit concerned about the competition of
currency depreciation.We need
international cooperation. There is no doubt that a strong yen is having a very
severe impact on exporters.It‚Äôs our
challenge to consider how we are going to support them.‚ÄĚ Data released in Japan
overnight saw the June all-industry activity index climb 0.2% m/m while July
machine tool orders ticked higher to 144.9% y/y.Also, July Tokyo-area department store sales
improved to -1.7% y/y and July nationwide department sales improved to -1.4%
y/y.July convenience store sales will
be released overnight.The Nikkei 225 stock
index climbed 1.32% today to close at ¬•9,362.88.U.S. dollar bids are cited around the ¬•84.60
moved lower vis-√†-vis the yen as the single currency tested bids around the
¬•109.25 level and was capped around the ¬•110.10 level.The
British pound moved lower vis-√†-vis the yen as sterling tested bids around
the ¬•132.75 level while the Swiss franc moved
higher vis-√†-vis the yen and tested offers around the ¬•82.85 level. In Chinese news, the U.S. dollar depreciated
vis-√†-vis the Chinese yuan as the greenback closed at CNY 6.7908 in the
over-the-counter market, down from CNY 6.7919. The State Administration of Foreign Exchange
reported China‚Äôs Q2 current account surplus was up 30% y/y to US$ 70.5 billion
but was off 8% in the first half of the year to US$ 124.2 billion, equivalent to
4.9% of gross domestic product.China
continues to diversify its foreign exchange reserves and internationalize the
British pound appreciated vis-√†-vis the U.S. dollar today as cable tested offers
around the US$ 1.5670 level and was supported around the US$ 1.5505 level. Data
released in the U.K. today saw July headline retail sales up 1.1% m/m and 1.3%
y/y while the ex-auto and fuel component was up 0.9% m/m and 2.4% y/y.Also, the July public sector net cash
requirement fell to -¬£4.1 billion from the prior reading of ¬£20.7 billion and
July public sector net borrowing fell to ¬£3.2 billion from the prior reading of
¬£13.9 billion.Additionally, the July M4
money supply was up 0.4% m/m and 2.3% y/y and July mortgage approvals ticked
lower to 47,000 from 48,000.Finally,
August CBI trends total orders improved to -14 from the prior reading of -16.As expected, Bank of England‚Äôs August
Monetary Policy Committee meeting minutes were released this week in which
policymakers voted 8-to-1 to keep its main Bank rate unchanged at 0.50% and its
asset purchase program unchanged at ¬£200 billion.Again, MPC member Sentance voted for a +25bps
increase in the Bank rate to +0.75%.Cable
bids are cited around the US$ 1.5385 level.The euro depreciated
vis-√†-vis the British pound as the single currency tested bids around the ¬£0.8190
level and was capped around the ¬£0.8245 level.
franc appreciated vis-√†-vis the U.S. dollar today as the greenback tested bids
around the CHF 1.0255 level and was capped around the CHF 1.0465 level. Data released in Switzerland today saw the
July trade balance climb to CHF 2.89 billion from the CHF 1.77 prior
reading.Also, the August Credit Suisse
ZEW survey of expectations improved to 9.1 from the prior reading of 7.2.Central bankers continue to deliberate
tighter global bank standards and the Basel Committee is reporting an increase
in requirements would ‚Äúboost confidence‚ÄĚ and ‚Äúhave a modest impact on output.‚ÄĚU.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 1.3205 level while the British pound moved lower vis-√†-vis the Swiss franc and tested bids
around the CHF 1.6045 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."
Actionable trading levels delivered to YOUR charts in real-time.
Tue 19 June 2018 A 12:30 US- House Permits/Starts Wed 20 June 2018 A 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude Thu 21 June 2018 AA 11:00 GB- Bank of England Decision A 12:30 US- Weekly Jobless Fri 22 June 2018 AFlash PMIs
John M. Bland, MBA co-founding Partner, Global-View.com
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.
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.