The euro appreciated vis-√†-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2760
level and was supported around the $1.2660 level.Dealers moved back into euro as risk aversion
fell marginally overnight on two successful debt issuances by eurozone members.
Simultaneously, however, yields on some credit default swaps for some eurozone
countries expanded to all-time highs, evidencing jitters about sovereign credit
quality.The Federal Reserve released
its monthly Beige Book report today and cited ‚Äúwidespread signs of a
deceleration‚ÄĚ between mid-July and the end of August.Some regional Fed banks noted ‚Äúeconomic
growth at a moderate pace‚ÄĚ while others saw ‚Äúpositive developments or net improvements.‚ÄĚThis Beige Book adds to the view that even
though growth in the U.S. is decelerating, ‚Äúthe preconditions for a pickup in
growth in 2011 appear to remain in place.‚ÄĚNotably, today‚Äôs Beige Book contrasted with July‚Äôs Beige Book that
suggested ‚Äúeconomic activity has continued to increase, on balance.‚ÄĚU.S. economic data released today saw MBA
mortgage applications decrease 1.5% while July consumer credit printed at ‚ÄďUS$
3.6 billion.In eurozone news, the European Central Bank will publish its
September monthly report tomorrow and most traders expect the central bank will
not begin to unwind monetary policy before Q1 2011 at the earliest.Data released in Germany today saw the July
trade balance print at ‚ā¨13.5 billion while the July current account lessened to
‚ā¨9.5 billion.Also, German July
industrial production was up 0.1% m/m and 10.9% y/y.French data saw August Bank of France
business sentiment remain steady at +101 while the July trade balance worsened
to -‚ā¨4.2 billion. European Central Bank member Makuch reported the eurozone
economy has entered a ‚Äúself-sustaining growth path‚ÄĚ while ECB member Weber said
he expects a deal on Basel III regulations this weekend.Euro
offers are cited around the US$ 1.3240 level.
The yen depreciated
vis-√†-vis the U.S. dollar today as the greenback tested offers around the ¬•84.05
level and was supported around the ¬•83.35 level. As expected, Bank of Japan‚Äôs Policy Board
maintained its economic assessment unchanged, noting economic growth may ‚Äútemporarily‚ÄĚ
cool from its current ‚Äúmoderate recovery.‚ÄĚThe central bank will publish its semi-annual outlook next month and is
likely to be more bearish than in recent forecasts.Notably, the central bank reported exports
growth and production growth have been decelerating.There is also speculation Bank of Japan may
increase its outright purchases of Japanese government bonds despite reluctance
from monetary policymakers.Traders
reduced exposure to yen as they were encouraged by some eurobond debt sales
including new issues from Portugal and Poland.Finance minister Noda said he is prepared to take ‚Äúbold‚ÄĚ steps on
exchange rates if required.The Japanese
government is expected to increase its GDP growth estimate for the currency
fiscal year to an annualized 1.5% from the prior estimate of 0.4%.The BoJ predicted in July the economy will
expand 2.6% in the year to March 2011. Traders are closely monitoring the DPJ
leadership election between Prime Minister Kan and Ichiro Ozawa on 14
September.DPJ officials today called on
Bank of Japan to abolish its self-imposed bond purchase limits so that the
central bank can finance more stimulus spending.Data released in Japan overnight saw the
August money supply grow more-than-expected while August bank lending was off
1.7% y/y.Additionally, July machine
orders were up more-than-expected at +8.8% m/m and 15.9% y/y.Moreover, the July trade balance increased to
¬•916.1 billion and the July current account total printed at ¬•1.675
trillion.Other data saw August
bankruptcies improve while the August economy watchers‚Äô survey worsened
significantly.The Nikkei 225 stock index
lost 2.18% to close at ¬•9,024.60. U.S. dollar bids are cited around the ¬•84.60
moved higher vis-√†-vis the yen as the single currency tested offers around
the ¬•107.10 level and was supported around the ¬•105.80 level.The
British pound moved higher vis-√†-vis the yen as sterling tested offers around
the ¬•130.30 level while the Swiss franc moved
higher vis-√†-vis the yen and tested offers around the ¬•83.20 level. In Chinese news, the U.S. dollar appreciated
vis-√†-vis the Chinese yuan as the greenback closed at CNY 6.7912 in the
over-the-counter market, up from CNY 6.7877. The Chinese government this week reported ‚ÄúWe
firmly oppose politicizing trade and economic issues and our yuan exchange rate
reform cannot be pressed ahead under external pressure.‚ÄĚWhite House National Economic Council head
Summers has been in Beijing discussing economic issues with the government.
British pound appreciated vis-√†-vis the U.S. dollar today as cable tested offers
around the US$ 1.5530 level and was supported around the US$ 1.5340 level. Data released in the U.K. today saw August
Halifax house prices up 0.2% m/m while July industrial production was up 0.3%
m/m and 1.9% y/y.Also, July
manufacturing was up 0.3% m/m and 4.9% y/y and the August NIESR GDP estimate
came in at +0.7%.U.K. banking giant
Barclays called on Bank of England to move to an inflation target range because
the central bank‚Äôs current need to ‚Äúturn a blind eye‚ÄĚ to accelerated price
increases is eroding its credibility.Notably, consumer price inflation has exceeded two per cent by more than
one percentage point for the past five months.Some BoE-watchers are calling for the central bank to adopt a looser
target of around 1% to 3%.Bank of
England‚Äôs Monetary Policy Committee is expected to keep interest rates unchanged
this week and is likely to keep its asset purchase target unchanged at ¬£200
billion.The central bank remains in a
predicament that finds it trying to deal simultaneously with elevated rates of
inflation and depressed levels of economic growth.Cable bids are cited around the US$ 1.5115
level.The euro depreciated vis-√†-vis the British pound as the single
currency tested bids around the ¬£0.8200 figure and was capped around the ¬£0.8270
franc appreciated vis-√†-vis the U.S. dollar today as the greenback tested bids
around the CHF 1.0060 level and was capped around the CHF 1.0140 level. Data released in Switzerland this week saw the
August unemployment rate remain steady at 3.6%.August producer and import prices will be released on 13 August.This week, Swiss National Bank reported its
foreign currency holdings fell to CHF 218.1 billion in August from CHF 219.5
billion in July, partially reflecting gains in the franc.In June, the SNB reported it will intervene
less in the markets by selling fewer francs after its currency holdings
quadrupled.The SNB has likely not
officially intervened since June.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 1.2920 level while the
British pound moved higher vis-√†-vis the Swiss franc and tested offers around
the CHF 1.5690 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.