User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday June 12, 2014 - 03:52:36 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

Morning Briefing : 12-Jun-2014 -0351 GMT

GOOD MORNING!

STOCKS
The drop in World Bank’s forecast for growth in 2014 from 3.2% to 2.8% has affected nearly all the global markets including the lowest volatile market of the US and the Asia-Pac is feeling the heat too.

It was mentioned that the price action in Dow (16843.88, -0.60%) is somewhat reminiscent of the September 2012 top, warranting caution and now the biggest single-day correction in last 1 month has emerged. Only on a break below 16800, this correction will extend to the major support area in 16600-300. The Dax (9949.81, -0.79%) has corrected too but the immediate trendline support at 9850 may come in aid for the bulls. Another push up to 10300-400 remains on cards as long as it stays above 9800-700.

The Nikkei (14952.77, -0.77%) correction has extended to 14850 already and the correction may go on for some more time. The Shanghai (2048.97, -0.29%) has been trying to rise in a weak manner for the last 2 sessions but that is getting resisted at the prior highs in 2055-61. This 2055-61 area must be firmly broken to signal a good rally.

Nifty (7626.85, -0.39%) lost all of its intraday gains just after touching 7700, implying that as expected, the correction from 7680 was unfinished and may finish at 7540. Keep an eye on 7580 as now a break below 7580 may signal a corrective mode or at least a sideways mode.

COMMODITIES
Gold (1260.44) is trading above crucial 1260 levels, and if this sustains we may see 1280 in the coming sessions. Near term is bullish while the overall long term is still bearish.

Silver (19.18) made a high of 19.33 yesterday but came off from there slightly. It may target 19.4-19.5 in the coming sessions and a break above 19.5 may take it higher towards 20-20.5. But there are chances of resistance near 19.5 holding which would then keep the prices ranged below 19.5.

Nymex WTI (104.61) has moved up and is targeting 105.22-105.25 in the near term while the overall trend remains up.

Brent (110.35) is in the last leg of the contracting movement that started in 2012. It is ranged in a very narrow 108.5-111 region and as said earlier, any break on either side of the range may initiate a sharp movement. Bias is bullish with a near term target of 112.

Copper (3.0425) is ranged within the 3.01-3.07 region and may continue to consolidate sideways for a few sessions before deciding its further direction. A fall towards 2.95-2.90 is not fully negated yet. We need to wait and watch for any signal of further movement. Overall long term trend remains down.

FOREX

Euro (1.3545) has lost nearly all of the latest gain after creating the major bottom at 1.35, contrary to our expectation. We must watch the price action at the support area of 1.3500-3475 now before taking any stance though the bullish view is still not negated fully.

Dollar-Yen (102.10) has tested exactly the support area of 101.95-85 but the Dollar bulls need a break above the 9 week long range of 101-103 to resume the rally. The Euro-Yen (138.30) is trying to bounce on the back of somewhat firmer Euro but the downside risk of testing 137 levels is clearly there.

Pound (1.6800) is still contained inside the previous week’s range but is approaching the upper end of the range and the break out level at 1.6850 once again. Keep an eye on 1.6690-40 for support and 1.6850 for resistance.

The Aussie (0.9374) has tested but failed to break above 0.9410, the last swing high, to confirm the intermediate uptrend. 2-34 days of consolidation before any breakout would be more beneficial for the bulls.

No cue is coming from anywhere for any decisive move in Dollar-Rupee (59.27) which spent another sideways session with the uptrend fully intact. We still wait for a break above 59.45 to confirm the next phase of rally and the major support remains unchanged at 59.00.

INTEREST RATES
The US 5Yr (1.71%), 10Yr (2.64%) and the 30Yr (3.47) have all gone up. The US 10-5Yr yield spread (0.94%) has been falling sharply since Nov’13 and may either remain ranged in the 1.0-0.9 region or come off further towards 0.87 in the coming weeks. There is little more room for the yields to rise in the coming sessions while the market awaits the US CPI next week.

The German – US 2Yr differential (-0.38%) has dropped beyond the support near -0.28% but is nearing another support at -0.40-0.50% on the weekly from where it may bounce back. The Euro (1.3542) saw a slight up move from support near 1.3520. If the bounce sustains and the Euro strengthens, we may see the yield differential go up. The German 10Yr (1.402%) has moved up well from support near 1.37-1.40% and may now move higher.

The US-Japan 10Yr yield differential (2.04%) is rising and has broken above resistance near 2.0% as the Dollar-Yen (102.10) also moved up a bit from 101.85. The Japan 10-5Yr yield spread (0.573%) and the Japan 10Yr (0.60%) have risen and are testing resistance near current levels.

The 10Yr GOI (8.54%) has stretched its fall further and may test 8.5% before bouncing from there. A break below 8.50% may push it to 8.30-8.28% in the mid-term.

DATA TODAY



1:30 GMT or 7:00 IST Australia Labour Force
...Expected 10.30 K ...Previous 10.30 K ...Actual -4.8 K

9:00 GMT or 14:30 IST EU IND Prodn (MoM)
...Expected 0.40 % ...Previous -0.33 %

9:00 GMT or 14:30 IST EU IND Prodn (YoY)
...Expected 0.90 % ...Previous 0.49 %

12:00 GMT or 17:30 IST IN IIP (Mar'14)
...Previous - -0.50 %

12:00 GMT or 17:30 IST IN CPI (Apr'14)
...Previous - 8.59 %

12:30 GMT or 18:00 IST US Retail Sales
...Expected 1.59 % ...Previous -0.02 %


DATA YESTERDAY

UK Unemp
...Expected 6.70 % ...Previous 6.80 % ...Actual 6.60 %

IN Trade Bal (MoM)
...Previous -10.10 $ Bln ...Actual 11.23 $ Bln


 

 

 

 

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 20 November 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:


Mon 20 Nov
14:00 EZ- Draghi Speech
15:00 US- Leading Indicators
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