User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday May 16, 2013 - 03:38:55 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

Morning Briefing : 16-May-2013 -0337 GMT

GOOD MORNING!


EQUITIES
Nifty (6146.75, +151.35) has succesfully taken out the resistance around 6100 and closed above it. This is very bullish. If it manages to hold onto the gains over today-tomorrow, we may see Nifty heading higher towrds 6300 in the medium term. Strong supports around 6000-5950.

Dow Jones (15275.70, +60.44) has closed higher by 60 odd points yesterday. The Dow Jones may continue to move higher from here but we need to keep in mind that supports are much lower at 14900-14800 and therefore we need to keep ourself prepared for any sudden downward correction.

Dax (8362.42 ,+23.31) too closed marginally higher by 23 odd points yesterday. We see good support for the Dax at 8200.

After having seen phenomenal rally for the last few days, the Nikkei (14933.00, -163.08) has finally taken a breather. It is down a bit in trade and a correction towards 14500 will provide fresh legs for the Nikkei to move much higher.

Shanghai (2,237.95, +13.32) is trading higher after having bounced from the supports of 2220-2210. We expect this move to take Shanghai upto 2250 levels where it may face some good resistance.


COMMODITIES
Gold (1,395.20) has crashed below 1400, in line with our long-term bearishness. A test of the previous lows near 1350-1325 should be possible now, while below 1420.

Brent (103.33) is back above the 103 mark in trade. We expect the Brent to continue to trade in a zone of 101-104 going forward.

Like Gold, Silver (22.70) has seen a big fall. The charts look beraish and we may see it heading to 22.20 while below 23.

Weakness in commodities is showing in Copper (3.2800) also and it may head lower to 3.25. However we may see Copper bouncing back to 3.35 from 3.25.


CURRENCIES
Euro (1.2871) is holding above the very crucial support of 1.2851 and we look for a bounce towards 1.2930, as suggested yesterday.

Dollar-Swiss (0.96573) is maintaining above the 0.96 mark for the while. If Euro sees a bounce from the current levels then we may see some dip in the Dollar-Swiss to 0.9550.

Dollar-Yen (102.112) is maintaining above the 102 levels and may target 103 in coming days. However if the Nikkei remains sideways we may see the Yen strengthen. In that case the Dollar-Yen may see a dip to 101.

The Euro-Yen (131.462) has cooled of a bit and has fallen below 132. With weakness in the Euro and and likely consolidative action in the Nikkei, the Euro-Yen may see moving sideways between 130.00-132.50 levels.

The Pound (1.5229) is also closing in on a short term support of 1.52. We may see the Pound bounce a bit if the Euro manages to hold on to the support of 1.2850.

The Aussie (0.9904) continues to stay beraish below 1.00. However looking at the oversold nature of the charts, we may see a short bounce to 0.998, but the fall in Gold could keep the Aussie weak.

The Singapore Dollar (1.2446) had seen a good rally in the last few days and may look to add more if dollar continues to stay strong. We may see the USD-SGD target 1.25 going forward. There is a resonable support around 1.2375.

Dollar-Rupee (48.79) is reacting more to the EURUSD (1.2851) which has come down to a crucially important medium-term Support trendline. The chart of Dollar-Rupee is not too encouraging right now and may see a move too 55.10-55.20 going forward. If there is a bounce in the Euro-Dollar, we could see Dollar-Rupee fall below 54.70 today


INTEREST RATES
As suggested yesterday, the US 10-Yr (1.93%) has found some Resistance just above 1.98% and has come off a bit. It might stabilise below 2.0% for some days before attempting to move higher. The Germany-USA 10-Yr yield spread (-0.55%) has bounced back a bit from the -0.60% level which should give some relief to the Euro.

The 10-Yr India GOI (7.46%) fell to near 7.37% yesterday, but has bounced back a bit on intra-day basis. But the yields can fall again towards 7.37% and lower. The longer term target could be near 7.13%, but that could take time. The fall in GOI yields can either lead to a further rise in Equities and thus to Rupee strength. Or it could work the other way round that a fall in Indian yields might make the Rupee less attractive. We have to see how this plays out.

The sharp rise in Japanese yields (10-Yr 0.8993%) is a worry as it suggests chances of a further rise towards 0.95%-1.00% despite the large balance sheet expansion by the BOJ. This too needs to be watched carefully.


DATA TODAY
23:50 GMT or 5:20 IST JP GDP
...Expected 0.70 % ...Previous 0.00 %

9:00 GMT or 14:30 IST EU Trade Bal
...Previous - 10.40

9:00 GMT or 14:30 IST EU CPI (YoY)
...Expected 1.80 % ...Previous 1.70 %

12:30 GMT or 18:00 IST US Core CPI (MoM)
...Expected 0.20 % ...Previous 0.10 %

12:30 GMT or 18:00 IST US Housing Starts (Mln)
...Expected 980 K ...Previous 1036 K


DATA YESTERDAY

UK Unemp
...Actual 7.80 % ...Previous 7.90 %

EU GDP
...Actual -0.20 % ...Previous -0.60 %


US PPI ex Food & Energy (MoM)
...Actual 0.11%...Previous 0.16 %

US TICS (Net foreign purch of long-term Sec)
...Actual 13.53 $ Bln ...Previous -17.84$ Bln

US Industrial Production
...Actual -0.5 % ...Previous 0.30%

US Capacity Utilization
...Actual 77.8 % ...Previous 78.3 %

 

 

 

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 15 November 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Thu 16 Nov
01:30 AU- Employment
09:30 GB- Retail Sales
10:00 EZ- final HICP
14:15 US- Industrial Production
Fri 17 Nov
13:30 CA- Retail Sales, CPI
13:30 US- Housing Starts and Permits

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH to Medium Wed -- 20:30 GMT AU- Employment data.

  • POTENTIAL PRICE RISK: HIGH Thu -- 09:30 GMT GB- Retail Sales.

  • POTENTIAL PRICE RISK: Mediun Thu -- 10:00 GMT EZ- final HICP. ECB targets inflation.

  • POTENTIAL PRICE RISK: Medium Thu -- NY Morning US- Import Prices, Philly Fed, Industrial, Production, NAHB. Usually not major movers.


  • POTENTIAL PRICE RISK: HIGH to Medium Fri -- 13:30 GMT CA- Retail Sales and CPI.

  • POTENTIAL PRICE RISK: HIGH to Medium Fri -- 13:30 GMT US- Housing Starts and Permits.



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