User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday October 8, 2013 - 03:37:52 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

Morning Briefing : 08-Oct -2013 -0336 GMT

GOOD MORNING!

 

 

EQUITIES
U.S.
stocks fell as lawmakers remained in a deadlock to increase the debt ceiling. Dow (14936.24, -136.34) can target 14900 and then 14750 before rising again. Nasdaq (3770.38, -37.38) may test the support at 3700 if it falls further. We may see it rising to 3850 if the support holds.
Dax (8591.58, -31.39) has also dipped registering a low of 8510.42. We may see it fall below our target of 8500 if it does not correct itself.

The Asia-Pac is mixed. Nikkei (13815.87, -37.45) fell. Very near to our target of 13800. We may see it targeting 13600 to test the support there if it falls below 13800. Shanghai (2175.51, +0.85) has opened marginally higher after a week long holiday. It is currently testing the near term supports at the current levels. We may see it rise to 2225-2250 if the supports hold.

Nifty (5906.15,-1.15) has corrected after registering a low of 5825.85. It can go up to 5950-6000 if it does not fall from here.

 

 

COMMODITIES
Gold (1326.90) trades near 1-week high on concern over implications of the US debt-limit. There is a resistance at the current level which if breaks we can see Gold go up to 1350. Silver (22.41) is up moving past the resistance at 22. We may see it rising to 23.

Copper (3.3025) is ranged for now with a near term support coming near 3.275. It may rise to 3.30-3.35 with the help of the support.

Nymex WTI (103.07) is trading lower a week before the data release that might show a rise in stockpiles over debt limit. It is consolidating for now between 102-104. Brent (109.55) is very near our target of 110. It has the support of the 21 day MA which may help Brent to bounce to 112.

 

 

 

CURRENCIES
Euro (1.3569) has dipped a bit. It is finding near term support at 1.355 and is also getting supports from yield spreads against the Dollar. Dollar Index (79.981) is trading just above the 200-week MA which wold be a strong support.If this holds we may see a bounce back towards 81.0-81.5

Yen (96.835) strengthened after Obama said he won’t negotiate with Republicans over debt-limit. The Pair has broken resistance near 96.9 and while below 97, it may target another support near 96. Pound (1.60846) strengthens after finance industry showed some optimism and the UK manufacturing improved in the 3rd quarter. It is in an uptrend and faces 21-Day MA support near current levels and may continue to rise towards 1.6140.

Aussie (0.94202) had its biggest 1-day drop against the Yen, AUDJPY (91.209) as US remains deadlock over ending the shutdown and to raise debt-ceiling hampering demand for high yielding assets. Near term support coming up near current levels.

R-currencies are overall weak except the Rupee (61.80) and the Rand (9.9976) which remain stable. There is near-term Resistance in the 62.10-20 region. If that holds, the pair can fall towards 61.05 and even 60.40. Else we could see a rise towards 62.80.

 

 

INTEREST RATES
US Yields are getting relatively softer against the G3. The US 10-Yr (2.62%) continues to trace a topping-out pattern targeting 2.5% and lower in the long term. In the near term, there could be chances of seeing a spike towards 2.72-75%.

The German-US 10-Yr (-0.78%) has started moving up again and the corresponding 2-Yr Spread (-0.17%) has Support at -0.20%. This could be supportive of the Euro. JGB yields continue to soften and flatten (10Yr 0.6526%, 5Yr 0.2228%) but the US-JGB Spread also continues to drop. The US-JGB 10-Yr Spread (1.97%) has long broken its uptrend at 2.0%, of course. The 2Yr Spread (-0.25%) has also been coming off from 0.32% in mid-September.

The UK-US 10-Yr Spread (-0.09%) may be finding Support above -0.10% now, after having fallen sharply from +0.14% on 19-September. That could help the GBPUSD (1.6080) move higher after its bounce from the 21-day MA Support on Friday.

However, the near term US yields are rising on concerns of a possible default after 17-Oct. Whether capital will flow into or out of the USA in the event of a default is the big question.

 

 

DATA TODAY
12:30 GMT or 18:00 IST US Trade Balance
...Expected - -0.20 $ Bln ...Previous 0.30 $ Bln


DATA YESTERDAY

EU GDP
...Actual 0.30 % ...Previous -0.20 %

 

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