User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday December 13, 2010 - 03:54:39 GMT
FX Thoughts for the Day -

Share This Story:
| | Email

Morning Briefing : 13-Dec-2010 -0339 GMT


The US Equities were up in a relatively calm session last week. The Dow (11410.32) was up 0.25% and the S&P 500 (1240.40) was up 1.25%. The Dow is looking strong, though it may face some Resistance near 11450, a break above which may take it towards 12000 in the coming days / weeks. Overall, we do not see a major downside on the markets while above 10950-00.

The Asians are in Green today. The Nikkei (10226.64, up 0.14%) is up followed by strength of steel makers and the Shanghai (2874.16, up 1.17%) is up after a satisfaction that the Central Bank is not raising rates further. In India, the Sensex (19508.89, down 2.29%) and the Nifty (5857.35, down 2.26%) closed lower last week. The Sensex may move up further while above 19000-18800 in the coming weeks.

Crude (87.99) is trading lower just below 88. China's move to increase its banks' reserve ratio pulled down the price from Friday's high of 89.00. Though the broader picture is still bullish for a rise towards 93-95, we might see a dip towards 85 before further rise. The OPEC has left its supplies unchanged as expected in its meet on Saturday.

Gold (1385.40) is oscillating near its Support in 1380-70 region. China's move to increase its banks' reserve ratio is keeping the price pressured on the downside. While below 1400 there are chances of testing 1350 in the coming days.

Silver, spot (28.89) is ranged between 28.00-29.00 over the last few days. As mentioned earlier, Resistance is seen in 29.25-40 region a strong break above which will have to be see for further upmove. While below the 29.25-40 Resistance region, we see chances of a downmove towards 27.50-00 in the coming days on a break below the Support at 28.00.

Decently strong opening for the Dollar today, not dramatic but holding onto Friday's gains. The Dollar Index (80.20) has found Support all through last week and should be bullish overall while above 78-77.

The Euro (1.3194) and the Yen (83.96) seem to be the weakest against the Dollar. Following them is the Aussie (0.9843) which is testing a shor-term Support just now and is looking bearish, if anything. Dollar-Swiss (0.9831) may also tend to rise after its fall from 1.0066 (01-Dec) was broken at 0.9725 (06-Dec).

Perhaps the only Major currency that is relatively strong against the Dollar is the Pound (1.5789), which is holding onto its upmove from 1.5484 that sarted on 30-Nov. But, the Pound also faces a crucial Resistance near current levels, which could limit its rise.

The talk in the market is about a new proposal for a pan-European Bond, instead of individual country bonds. Although this is the logical, natural progression for the Euro (if it is to survive), getting there is not easy (obviously, with Germany opposed to it). Further, the extension of the Bush tax cuts in the USA is seen as Dollar-positive. Lastly, fears of a Chinese rate hike are spooking the Aussie.

A bit of divergent trend in the Emerging currencies today, with the Won trading weaker near 1146.50 and the Sing Dollar trading a little stronger near 1.3075. The Brazilian Real (1.7050) seems to be stabilising a bit after having weakened last week. Dollar-Rupee had closed at 45.05 on Friday. It might be worth buying on the dip today.

US 3 month libor was unchanged at 30 bps. However, US 10 year yields are back above 3.30% and is currently quoting 3.34%, up over 15 bps in last 24 trading hours. FOMC meeting is scheduled for tomorrow and market is hoping for another cheque from helicopter Ben for purchase of treasuries. It is ironical that on 5th November, a day after the QE 2, when the fed chairman promised to buy more bonds, US long dated treasuries topped out. Long end of the yield curve, unlike the shorter end is market driven and when the inflationary expectation increases it starts to show on the long end . Therefore, a fast rising yields is a warning that all these dollar being printed are a pouring into the assets marets globally like commodities, which will cause major inflationary problems down the road. Such an outcome is neither good for the fedgling state of US recovery and also roaring emerging nations.

Indian 10 year benchmark yield declined further to close at 8.09%. However, stress continue to build in the money markets as banks are being forced to borrow over INR 1 trillion daily from the RBI. This week close to INR 500 billion will be sucked out of the system in lieu of advance tax and as a result we expect further upward presure on short term commercial rates. We are seeing the public sectors banks hike deposit rates to mop up deposits. Over the last 11 months deposit growth has been INR 5.88 triliion as againt a credit growth of INR 6.58 trillion. At the same time, telecom auction, GOI borrowing and divestment of PSUs have drained signficant amount of liquidity from the system. RBI has limited options as cut in CRR in ruled out and FX intervention is not a favourable option with dollar on the bid.

No major data release today

EU EA (16) Curr Acct Bal Q3 '10
...Actual -16.5 Bln...Previous EUR -23.1 bln

EU EA (16) Bal of Trade in services
...Actual EUR 9.8 bln...Previous EUR 11.9 bln

EU EA (16) Curr Acct Bal as % of GDP
...Actual -0.7%...Previous -1.0%

US Oct Trade Balance
...Actual $ -38.7 Bln...Previous $ -44.6 Bln


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 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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