User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday January 31, 2013 - 03:48:14 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

Morning Briefing : 31-Jan-2013 -0345 GMT

GOOD MORNING!


EQUITIES
Dow Jones (13910.42, -0.32%) ended in the red as it could not break 14050-100 resistance, Also the advance US GDP was disappointing at -0.14% against the expectation of 1.30%. Significant resistance is seen in 14000-200 region on the monthly charts, we have reviewed our yesterday’s bullish stance on the Dow as we would rather be cautious than optimistic at current levels. FOMC will be continue the stimulus till unemployment declines to at lest 6.5%.

A-Pac is in the red today following the weak US GDP data yesterday. Australia (4894,-0.50%), Hang Seng (23671.85, -0.63%) and Taiwan (7807, -0.33%) are all trading lower.

Shanghai (2373, -0.39%) is also a bit soft today. We need to see where it closes for the week, a strong close above 2360-75 levels will be bullish.

Nikkei (11050, -0.57%) closed higher yesterday but has dipped again today. It either comes back in the 10400-11000 range or takes support at 11000 to move higher again. Weekly close will give a better idea.

Nifty (6055.75, +0.10%) was flat for the day. Today is the derivatives expiry and it can be volatile. With Dow at the resistance and Nifty being just sideways for the whole of Jan, we might just be tripped off in February series. Break of 6000 can be a sentiment changer.


COMMODITIES
Good rise in the Commodity space yesterday following the Fed's decision to leave the interest rates unchanged near zero until the unemployment rate falls to atleast 6.5% and to continue the stimulus until the employment situation improves substantially.

Crude remains strong. Both Nymex Crude (97.92) and the Brent (115.16) are looking bullish for an immediate target of 101-103 and 118 respectively. 122-123 on the Brent and 106-107 on the Nymex can be seen there after.

Gold (1677.90) has risen well within its 1625-1700 range and will have to be seen if it can gain further momentum to rise past 1700 this time.

Silver (32.05) has failed to see a strong break below 31 and has risen back very well over the last couple of days. 33.00-50 is a very important Resistance region which can be tested now and a strong break above this Resistance region will open doors for a rise to 35.50.

Copper (3.73) tested its important Resistance at 3.75 yesterday. A strong break/close above 3.75 will be very bullish and can take it up to 3.85-90. We will have to wait and see. To see the Resistance at 3.75, take a look at the 3-Day and Weekly Chart in the link below:
http://www.kshitij.com/graphgallery/coppercandle.shtml#candle

 

CURRENCIES
Euro (1.3567) trades above the 200-week MA (1.3527). There could be some to-fro movement around 1.3530 now. Some Resistance may be seen near 1.3605. Dollar-Yen (90.87) has come off a bit from yesterday's high near 91.40. The trend still remains strongly up while above 90.00-89.50. The Euro-Yen (123.23) trades right at an important Fibo retracement of the big fall from 169.92 (2008) to 94.10 (2012). Thus, there can be some chances of consolidation near current levels.

The Pound (1.5803) has recovered well from the low of 1.5697 earlier in the week and might be bought on dips. The Aussie (1.0425) could dip towards 1.0350 within an overall sideways range. The Swissy (0.9101) has seen a sharp gain yesterday. It now trades near the 21-mth MA. It can target 0.8850 after some consolidation near current levels.

Overall, the Euro, Euro-Yen and Swissy trade near some significant technical levels. The trend can continue in the longer term, but we could see some consolidation in the near term.

The Brazilian Real (1.9865) has strengthened further, but might find it difficult to gain beyond 1.9500. The Sing Dollar (1.2379) has been weakening for the last couple of weeks and could test the 200-day MA at 1.2417. The EUR-SGD, which was a popular Short last year is being bought back aggressively.

Dollar-Rupee (53.3050) could test important Supports near 53.10-00, maybe lower.


INTEREST RATES
The US Fed yesterday said it would continue with stimulus and keep rates low till Unemployment does not fall to 6.5% at least. At the current pace, that will take at least 15-18 months in our estimate, if not longer. There's a lot of hope built around the Housing sector, but it might have a limited capacity to contribute to growth and employment.

The US 10-Yr (1.99%) has dipped back below 2.0%. While yields could move up a little more, the pace could slow down a bit.

Italian 10-Yr (4.32%) and Spanish 10-Yr (5.23%) yields have broken their downtrends since Jul-12 and are likely to inch up a little more. A lot of the good news is already in the market and people may turn a little cautious now.

Looking at the Euro-Yen v/s the Germany-Japan yield Spread, it would seem that the Euro-Yen has moved up much more than might be justified. Take a look at
http://www.kshitij.com/graphgallery/eurjpydiff.shtml#eurjpy


DATA TODAY
12:30 GMT or 19:00 IST US Personal Income
...Expected 0.7% ...Previous 0.6%

12:30 GMT or 19:00 IST US PCE Price Index M/M
...Expected 0.4% ...Previous 0.4%

12:30 GMT or 19:00 IST CA GDP
...Expected 0.2% ...Previous 0.0

23:15 GMT or 5:45 IST JP PMI
...Previous 45.0


DATA YESTERDAY

US ADP Emp
...Actual 192 K ...Previous 185K

US GDP
...Actual -0.1% ...Previous 3.07%

US FOMC Meeting
...Actual <0.25% ...Previous <0.25%

 

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 21 November 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:


Tue 21 Nov
15:00 US- Existing Homes Sales
23:00 US- Yellen Speech
Wed 22 Nov
13:30 US- Weekly Jobless
13:30 US- Durable Goods
15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
19:00 US- FOMC Minutes
Thu 23 Nov
US/JP- Holiday
All Day flash PMIs
13:30 CA- Retail Sales
Fri 24 Nov
All Day flash PMIs
09:00 DE- IFO Survey
US- Early Closes

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias


  • POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic

  • POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy


  • POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
  • POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
  • POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
  • POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release


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