***Economic data*** - (IN) India Q3 Current Account Balance: -$16.9B v -$17.0Be - (ZA) South Africa Nov Budget Balance (ZAR): -28.6B v -9.9B prior - (RU) Russia Dec Consumer Prices M/M: 0.4% v 0.6%3, Y/Y: 6.1% v 6.3%e - (PL) Poland Central Bank (NBP) Dec Inflation Expectations: 4.8% v 4.2% prior - (PL) Poland Q3 Current Account: -â‚¬4.7B v -â‚¬6.0Be - (RU) Russia Q3 Current Account: $18.4B v $23.8B prior - (US) Dec New York ISM Business Index 51.1 v 47.2 prior - (US) Dec NAPM-Milwaukee: 57.8 v 56.7 prior
- Markets are trading sideways this morning in very light volume. There has been little significant economic data on tap and most traders remain on the sidelines. Hungary's parliament passed a controversial law to rein in its central bank, threatening to derail the country's bid for new financial backing from the EU and the IMF. Spain said its budget deficit would likely be much wider than expected for 2011, and unveiled an â‚¬8.9B austerity package. EUR/JPY tested below the 100 level just as the NY portion of the trading day commenced for the first time since June 2001. EUR/USD is holding steady just off its 2011 lows, setting the pair up to end the year below the 1.30 handle.
***Looking Ahead*** - (CN) China Dec PMI Manufacturing: 49.1e v 49.0 prior
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Forex Trading News
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Wed 20 Sep
08:30 GB- Retail Sales
14:00 US- Existing Homes Sales
14:30 US- EIA Crude
18:30 US- Fed Decision Thu 21 Sep
03:00 JP- BOJ Decision
12:30 US- Weekly Jobless Fri 22 Sep
All Day Flash PMIs
12:30 CA- Retail Sales and CPI Sun 25 Sep
All Day German Elections
POTENTIAL PRICE RISK: HIGH WED -- 08:30 GMT GB- Retail Sales. Will be watched very closely after hawkish BOE.
POTENTIAL PRICE RISK: HIGH WED -- 14:00 GMT US- Existing Homes Sales. Top Housing statistic. Closely followed.
POTENTIAL PRICE RISK: MEDIUM WED -- 14:30 GMT US- EIA Crude Inventories. Most important oil statistic each week. Closely followed.
POTENTIAL PRICE RISK: HIGH WED -- 18:00 GMT US- FOMC Decision followed by Press Conference. No rate Change likely. Announcement of timing and details of December QE taper expected. Could see strong reaction.
POTENTIAL PRICE RISK: MEDIUM THU -- 03:00 GMT JP- Bank of Japan- No rate change expected.
POTENTIAL PRICE RISK: MEDIUM THU -- 12:30 GMT US- Weekly Jobless. Claims distorted by storms.
POTENTIAL PRICE RISK: Medium FRI -- All Day Flash PMIs Due. Usually not a major market mover except for US ISM data (due in early October).
POTENTIAL PRICE RISK: High FRI -- 12:30 GMT CA CPI and retail Sales. Both have the potential to move markets if they miss expectations.
John M. Bland, MBA co-founding Partner, Global-View.com
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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.
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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.
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