User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday July 7, 2005 - 21:56:03 GMT
FXCM - www.dailyfx.com

Share This Story:
| | Email

Forex: Dollar On Payroll Watch

DailyFX Fundamentals 07-07-05

By Kathy Lien, Chief Strategist of www.dailyfx.com

· Dollar On Payroll Watch
· ECB and BoE Leave Rates Unchanged
· Terrorist Attacks In London Send GBPCHF Plunging

US Dollar
The world’s attention is centered upon the tragic terrorist attacks that occurred in London this morning. Although the attacks were across the Atlantic, the dollar plunged in fear of similar repercussions here in the US. Every major country has heightened their security measures and some closely watched events have also been impacted by the attacks. This was a big week for the UK. Not only did they win the 2012 Olympic bid, but they are also hosting the G8 Summit and scheduled to make an announcement on interest rates. The G8 statement has now been postponed to Friday and the fact that the central bank meeting was held after the attacks means that it could have certainly played a role in the Monetary Policy Committee’s decision. Most London traders also left their offices early, causing liquidity to evaporate shortly after the US open. This allowed US traders to rally the dollar with non-farm payrolls still slated for release tomorrow morning and oil prices finally retracing. As we discussed yesterday, payrolls are expected to be strong with estimates now bumped up to 200k. Jobless claims released this morning remains fairly low. The sharp rise in yesterday’s employment component of the service sector ISM suggests that service sector employment growth could rebound significantly. The last time that we saw a similar rise points wise in the employment component was back in February when payrolls jumped from 124k to 300k. Yet as we cautioned yesterday, thre are risks to such a lofty forecast. Over the past 13 years, economists have over-forecasted payrolls at least two-thirds of the time, which means this time the odds are probably against them once again. This is a big possibility especially since the Challenger report of planned layoffs hit a 17-month high last month, increasing 35%. The most alarming thing is that according to the Challenger Group, there tends to be less layoffs in the summer months, but "The fact that job cuts are rising in the summer is not even the most surprising trend," said John Challenger, CEO of the firm. "The surprise is that we are seeing a growing number of mass job cuts." Don't expect any job additions in the manufacturing sector since the employment component of the ISM report for the sector contracted again in June.

Euro
The European Central Bank delivered no surprises this morning when they left interest rates unchanged at 2.00%. They also confirmed that their stance is squarely neutral by saying that although inflation risks remain, weak growth prevents them from raising rates. At this point the Eurozone appears to be finally showing some signs of a modest recovery thanks the weaker Euro. Tomorrow we are expecting more German economic data including German Current Account / Trade Balance and industrial production. Both the current account and industrial production reports are expected to edge lower but given the recent trend of German data, these two releases could also surprise on the upside. As an export dependent country, Germany has been benefiting significantly from the fall in the euro. This will help to damp some of the negative effects from rising oil prices.

British Pound
A solemn day for the United Kingdom as terrorist attacks brought Europe’s second largest economy to its knees temporarily in morning rush hour traffic. As a result, with fears heightened, traders pounded the cable across the board and exacerbated the bearish sentiment that has overcome the currency for the past week. Most notably, with traders giving in for a flight to safety, participants pushed the GBPCHF currency pair violently lower over the course of the morning, dropping almost 400 pips on the day before retracing slightly. The currency pair was one of the hardest hit as money flocked to the safety of the Swiss franc. Unsurprisingly, the tragedy overshadowed the morning’s economic figures. Housing valuations displayed through both the FT and HBOS Plc housing prices reports continued their overall softer stance in light of increases seen in the monthly comparison. Additionally, released shortly after the tragic occurrence, Bank of England officials announced their decision to keep rates at the current 4.75 percent for the 11th month. Speculation had mounted on a rate cut in light of slumping consumer demand and blatant suggestions of sluggish output. As a result, expectations grow increasingly certain of a rate cut when policy makers meet again in August.

Japanese Yen
Like many other counterparts to the greenback, the Japanese yen strengthened on the day only to return gains later on in the session. Traders took advantage, if only momentarily, of higher machine tool orders data and pushed the currency higher. Other than that, the economic calendar remained empty for the region as the effects of the brighterside report and lower crude oil prices dissipated as the session wore on. With that said, traders and economists alike will be anticipating tomorrow’s household spending figures with any increases being a warm welcome as overall declines have plagued the report since August of last year. Separately, it was announced today that Japan and South Africa have agreed to establish a committee in studying the possibilities of starting free trade talks between the two. Seeking a trade and investment pact, Japanese trade officials are looking to win favorable treatment for domestic companies and products on foreign soil. Ultimately, a free trade pact would further open doors for the economy, the first for Japan and an African nation. Trade relations between the two nations already reached $7.5 billion in 2004.

 

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."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

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 Global-View.com.

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

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.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105