User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday May 14, 2014 - 03:37:26 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

Morning Briefing : 14-May-2014 -0337 GMT

GOOD MORNING!

STOCKS
Slight pause in upmove in global Equity Indices, except for the Dax.

The Dax (9754.43, +51.97) looks particularly bullish, having risen well past 9700 in a gap-up opening yesterday. A level of 10000+ could be seen in coming weeks. On the other hand, the Dow (16715.44) did not rise much as the US Retail Sales for the previous month was revised sharply lower. It now stands at 1.88% for April and 1.92% for May. Please take a look at http://www.kshitij.com/fundamentals/funcharts/usretail.shtml

The Nikkei (14375.72, -49.72, -0.34%) is seeing a bit of profit-taking after the decent rise yesterday. It can test 14650 in a few days, but remains in an overall downtrend while that holds. The Shanghai (2043, -0.37%) is also pausing a bit in its bounce from 2000 that can take it towards 2070-2100 potentially.

The Nifty (7108.75) could also see slight pause/ profit-taking after its 7.8% rise in the last three days, just ahead of the actual Election results on Friday. A good news for the market is that Jayalalitha seems to have said Yes to supporting Modi.

COMMODITIES
Gold (1293.47) is trading within the crucial support-resistance zone of 1280-1300 and unless a break above 1300-1315 is seen we cannot negate the near term bearishness. Silver (19.527) is finding difficulty to break crucial resistance near 19.66 and while below this level it may continue to move in the 18.85-19.66 region. Overall near term looks bearish.

Copper (3.1270) has come down slightly as the China IIP came out lower than expected but it is currently testing channel support near 3.12-3.13 while in the recent uptrend. There are chances of a rise to 3.20-3.25 levels if it sustains above 3.12 else a break below 3.10 could lead to a sideways consolidation.

WTI (101.92) has risen sharply testing crucial resistance near 101.92-102.00 which if holds could bring it back to 100 else a break above 102 could target 103-104 in the near term. Brent (109.35) has also risen well breaking above 109.16 which if sustains could target 110 in the near term from where we could see some correction. Overall the long term trend remains up.

FOREX
The Euro (1.3716) has broken below the crucial 1.3735 support level and can decline further towards 1.3625. The Euro-Yen (140.21) found Resistance at 1.4100 yesterday, as expected, and has fallen, dragging the Euro down with it. A test of crucial Support at 139.50-25 is likely over the next few days. Whether that breaks or not will also decide whether the Euro breaks below 1.3625 or not.

Dollar-Yen (102.16) rose to 102.36 yesterday, but could not sustain the gain. A dip to 102.00 is possible today. A bounce from there, if seen, could take the market up to 102.50-60.

The Pound (1.6850) has been seeing a near-term decline from 1.6996 (06-May) but can find Support at 1.6800 soon and could resume its long-term upmove from there. The Aussie (0.9393) rose well yesterday but needs to break above 0.9400 now to attract more Buyers. It remains one of the strongest currencies overall.

The Rupee (59.6850) is closed for Buddha Purnima today. The NDF market seems to be quoting near 59.45/50. The Rouble (34.8160) strengthened further yesterday while the BRL (2.2142) is ranging sideways. From that angle, the Rupee looks relatively strong only overseas.

INTEREST RATES
The US yields saw a slight dip yesterday after the Retail Sales data came out less than expected suggesting a slower growth. The yields had been rising on the back of important supports and they may still rise if the supports keep on holding. The 5Yr (1.62%), the 10Yr (2.62%) and the 30Yr (3.45%) can target 1.75%, 2.75% and 3.75% respectively. The US yield spreads are stable. A continued rise in the yields and the US yield curve can steepen.

The German – US 2Yr differential (-0.26%) has been trading lower as the Euro (1.3716) fell further and has come to test support near 1.37. A bounce from here can take it higher and we may see the yield differential go up. The German 10Yr (1.42%) has fallen and is trading close to our target of 1.40%.

The US-Japan 10Yr yield differential (2.01%) has dipped as the Dollar-Yen (102.16) is stable near yesterday’s levels. The Japan 10-5Yr yield spread (0.42%) is testing support at current levels and we may see a bounce from here taking the yields higher.

The Indian 10Yr GOI (8.78%) saw a rise and is trading near 8.80%. A break above 8.80% and we may see it target 8.90%-9.00%.

DATA TODAY

8:30 GMT or 14:00 IST UK Unemp
...Expected 6.80 % ...Previous 6.90 %

9:00 GMT or 14:30 IST EU IND Prodn (MoM)
...Expected -0.30 % ...Previous 0.20 %

9:00 GMT or 14:30 IST EU IND Prodn (YoY)
...Previous - 1.81 %

12:30 GMT or 18:00 IST US PPI ex Food & Energy (MoM)
...Expected 0.20 % ...Previous -0.05 %

DATA YESTERDAY


US Retail Sales
...Expected 0.60 % ...Previous 1.05 % ...Actual -0.02 %

 

 

Follow:

Share on facebookFacebookShare on twitterTwitterShare on linkedinLinkedIn

Our Track Record

Click here to enlarge


Our Apr'14 Longterm forecast is now available. To order a PAID copy, please mail us.

In order to read our previous forecasts please Click Here.


Track the ongoing actual releases in our online Economic Calendar.

 

 

 

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