User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday June 13, 2014 - 05:02:02 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

Morning Briefing : 13-Jun-2014 -0500 GMT

GOOD MORNING!

STOCKS
BOJ has kept all of the rates unchanged and the US market is going under a correction, which is spreading to the other global markets too. It is time to keep an eye on the commodities too, especially Crude Oil.

Dow (16734.19, -0.65%) has already lost nearly all of the previous week’s gains but after January we haven’t got two consecutive down weeks so far. So bulls would not be concerned till 16600-300 gets broken and the next week turns out to be another down week. The Dax (9938.70, -0.11%) 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 (14878.00, -0.64%) correction has extended to 14850 already and the correction may go on for some more time with major support coming in 14700-650. The Shanghai (2058.31, +0.32%) has been trying to rise in a weak manner for the last 3 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 (7649.90, +0.30%), while in major uptrend, has already partially discounted the improved CPI data released yesterday after the market hours. Now a major move will emerge only on a break beyond the range of 7580-7700. Keep an eye on 7580 as now only a break below 7580 may signal deeper correction.

COMMODITIES
Gold (1272.96) has been rising since the last 6 sessions nearing immediate resistance near 1278-1280 while Silver (19.55) is also heading towards the crucial 19.66. Need to watch if the metals are able to break these levels or gets pushed back to previous levels. Overall the long term trend is down.


Nymex WTI (107.29) has shot up breaking above 102.25 giving a bullish signal in the coming sessions as violence in Iraq threatens oil supply. It may now target 110 levels in the near term.
Brent (112.81) has also risen exactly in line with our expectations. As said earlier the contraction of prices seems to have ended finally and this rise may initiate fresh bulls targeting 115-117 in the near term. Overall the oil market is bullish.

Copper (3.0255) has fallen targeting 3-2.90 in the coming sessions. It may continue to range in the 2.90-3.05 region for sometime before deciding its further move. Overall long term trend remains down.

FOREX
Dollar is facing some attack from the majors, especially the Pound. A risk-off mode is perhaps on now and that is strengthening the major currencies.
Euro (1.3558) is trying to find strength from the support area of 1.3500-3475 once again but that bullish reversal will be confirmed only on a break above 1.3630 and then 1.3680. The bias is neutral now.
Dollar-Yen (101.78) is trading below the support area of 101.95-85 and now may test the support area of 101.40-20 before it finds any sustained buying. The 9 week long range of 101-103 may continue for a few more days. The Euro-Yen (137.99) is trying to bounce on the back of somewhat firmer Euro but the downside risk of testing 137 levels is clearly there.
Pound (1.6945) broke out above 1.6850 very sharply after Markit reported faster expansion in UK’s manufacturing in April and the BOE Governor commented that a rate hike may come sooner than expected. This rise may reach 1.70-71 levels very soon.

The Aussie (0.9412) has broken above 0.9410, the last swing high, to confirm the intermediate uptrend and is close to testing the 7 month high of 0.9461 now. A weekly close above 0.9409 would add to the bullish sentiment.

No cue is coming from anywhere for any decisive move in Dollar-Rupee (59.25) 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 (1.70%), 10Yr (2.60%) and the 30Yr (3.41) have fallen. The US 10-5Yr yield spread (0.90%) extended its fall further and may either remain ranged in the 1.0-0.9 region or come off further towards 0.87 in the coming week.

The German – US 2Yr differential (-0.43%) has dropped further, and may target -0.50% on the weekly from where it may bounce back. The Euro (1.35570) is rising as support near 1.3520 holds well. The Euro may strengthen towards 1.36 that may raise the yield differentials. The German 10Yr (1.39%) has dropped strangely but may move up again towards 1.40% while support at 1.3% holds.

The US-Japan 10Yr yield differential (2.00%) came off to 2.0% as the Dollar-Yen (101.77) came off sharply. The Japan 10-5Yr yield spread (0.43%) has fallen from resistance as expected while the Japan 10Yr (0.60%) remains stable.
The 10Yr GOI (8.53%) fell slightly 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



3:00 GMT or 8:30 IST BOJ Meeting
...Previous - <0.10 %

9:00 GMT or 14:30 IST EU Trade Bal
...Expected 12.00 EUR Bln ...Previous 17.10 EUR Bln

12:30 GMT or 18:00 IST US PPI ex Food & Energy (MoM)
...Expected 0.20 % ... Previous 0.21 %


DATA YESTERDAY

Australia Labour Force
...Expected 10.30 K ...Previous 10.30 K ...Actual -4.8 K

EU IND Prodn (MoM)
...Expected 0.40 % ...Previous -0.40 % ...Actual 0.80 %

EU IND Prodn (YoY)
...Expected 0.90 % ...Previous 0.50 % ...Actual 1.30 %

IN IIP (Mar'14)
...Previous -0.50 % ...Expected 1.60 % ...Actual 3.40 %

IN CPI (Apr'14)
...Previous 8.59 % ...Expected 8.36 % ...Actual 8.28 %

US Retail Sales
...Expected 1.59 % ...Previous 0.40 % ...Actual 0.70 %


 

 

 

 

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