The euro appreciated vis-√†-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2855
level and was supported around the $1.2660 level.The common currency reached its strongest
level since 19 August as dealers lifted the pair but stopped short of testing
short-term resistance around the $1.2875 level. Data released in the U.S. today
saw MBA mortgage applications move lower to +2.7% while August Challenger job
cuts were off 54.5% y/y.Also, August
ADP employment was off 10,000, defying expectations of a +15,000 climb and down
fron the revised prior reading of 37,000.These data suggest the private payrolls component of Friday‚Äôs August
non-farm payrolls number may be quite weak.Around 100,000 jobs are expected to have been lost last month when the
data are released on Friday.Other data
released today saw the August ISM manufacturing index move higher to 56.3 while
the ISM prices paid component jumped to 61.5.Also, July construction spending was off more than expected at -1.0%
m/m.Ongoing U.S. economic data continue
to evidence an economy that is barely expanding and continued major stresses in
the U.S. labour market.In eurozone news, data released today
saw EMU-16 August PMI manufacturing tick higher to 55.1.Also, German July retail sales were off 0.3%
m/m and up 0.8% y/y while August PMI manufacturing remained steady at
58.2.Additionally, August PMI
manufacturing moved higher to 55.1.The
European Central Bank is expected to keep monetary policy unchanged tomorrow
and steady through at least the first quarter of 2011.Euro offers are cited around the US$
The yen appreciated
vis-√†-vis the U.S. dollar today as the greenback tested bids around the ¬•83.65
level and was capped around the ¬•84.55 level. There is not much indication the Japanese
government will conduct yen-selling intervention but dealers note there will
decreased liquidity in the market through Tuesday on account of a long U.S.
holiday and action should not be ruled out.Traders remain unimpressed with Bank of Japan Policy Board‚Äôs monetary
easing later this week, speculating it will not lead to any significant
improvement in the economy was responsive to widespread political
pressure.The International Monetary
Fund warned Japan‚Äôs government debt is approaching an ‚Äúunsustainable level.‚ÄĚFormer BoJ Policy Board member Nakahara
reiterated Japan should increase its level of Japanese government bond
purchases.Nakahara noted ‚ÄúLowering the
policy rate to zero is a must to stem the yen‚Äôs gains.The BoJ should also boost outright purchases
of bonds by another ¬•500 billion.Increased bond purchases would enable the government to generate funds
for more public works spending.As a
whole, Japan can‚Äôt live without spending by companies and the government.‚ÄĚThe central bank also noted this week that
downside economic risks may be increasing.Vice finance minister Ikeda reported unsterilized intervention ‚Äúwould be
effective‚ÄĚ and said the central bank should adopt a rigid inflation target in
the long-term.Data to be released in
Japan overnight include the August monetary base following by Q2 capital
spending tomorrow night.The Nikkei 225 stock
index climbed 1.17% to close at ¬•8,927.02.U.S. dollar bids are cited around the ¬•84.60 level.The euro moved higher vis-√†-vis the yen
as the single currency tested offers around the ¬•107.90 level and was supported
around the ¬•106.55 level.The British pound moved higher vis-√†-vis
the yen as sterling tested offers around the ¬•130.10 level while the Swiss franc moved higher vis-√†-vis
the yen and tested offers around the ¬•83.50 level. In Chinese news, the U.S. dollar appreciated vis-√†-vis the Chinese
yuan as the greenback closed at CNY 6.8108 in the over-the-counter market, up
from CNY 6.8078. Data released in China
overnight saw August PMI manufacturing tick higher to 51.7 while the HSBC
manufacturing PMI measured jumped to 51.9.The recent weakness in the yuan suggests PBoC may be seeking to maintain
a more stable yuan in relation to a basket of currencies and not just the U.S.
British pound appreciated vis-√†-vis the U.S. dollar today as cable tested offers
around the US$ 1.5490 level and was supported around the US$ 1.5335 level. Data
released in the U.K. today saw August PMI manufacturing decline to 54.3 from
the revised prior reading of 56.9.Bank
of England‚Äôs Monetary Policy Committee is expected to keep monetary policy unchanged
next week.Bank of England Chief Economist Bean spoke at
Jackson Hole this past weekend and said ‚ÄúThe deleveraging process is
incomplete, the recovery remains fragile, and a considerable margin of spare
capacity is yet to be worked off, while further policy action may yet be
necessary to keep the recovery on track.‚ÄĚBean also reported the central bank may impose policies to limit the
ability of borrowers to take on riskier mortgage loans.Cable bids are cited around the US$ 1.5115
level.The euro appreciated vis-√†-vis the British pound as the single
currency tested offers around the ¬£0.8325 level and was supported around the
franc appreciated vis-√†-vis the U.S. dollar today as the greenback tested bids
around the CHF 1.0065 level and was capped around the CHF 1.0180 level. Data released in Switzerland today saw August
PMI move sharply lower to 61.4 from the prior reading of 66.9.Q2 GDP and July retail sales data will be
released tomorrow.Swiss National Bank
member Jordan this week said the central bank is closely monitoring the Swiss
franc ‚Äúvery closely‚ÄĚ and said Switzerland‚Äôs monetary policy situation remains
‚Äúvery complex.‚ÄĚJordan also cited a
‚Äúsmall‚ÄĚ short-term risk of deflation.Some traders believe SNB may be forced to resume its franc-selling
intervention to stop the euro‚Äôs sharp decline on the cross.U.S. dollar offers are cited around the CHF
1.0980 level.The euro appreciated vis-√†-vis the Swiss franc as the single
currency tested offers around the CHF 1.2985 level while the British pound moved higher vis-√†-vis the Swiss franc and tested
bids around the CHF 1.5665 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.
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.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.