User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday July 17, 2014 - 03:46:47 GMT
FX Thoughts for the Day -

Share This Story:
| | Email

Morning Briefing : 17-Jul-2014 -0346 GMT


The Chinese GDP meeting the government expectations coupled with the optimism expressed by Janet Yellen produced sharp rallies in Europe & US, even if not that much in Asia.

Dow (17138.20, +0.45%) is gathering bullish momentum after many sessions and may reach 17300-50 now with the major support coming up too at 16800 levels. The Dax (9859.27, +1.44%) has bounced sharply but requires to trade above yesterday’s high at 9871 to extend the rally and attempt a reversal. Otherwise the bears may attack from the current levels right now.

Nikkei (15410.68, +0.20%) is settled in the range of 15000-500 and the last 3 sessions don’t show any great upward momentum with the possibility of a downmove inside the range increasing. The Shanghai (2057.47, -0.47%) failed to break above the upper end of the contracting range at 2080-90 which would signal a considerable bullish reversal towards 2140-80. This signals a continuation of the broader range of 2000-2090.

Nifty (7624.40, +1.30%) tested the 7630 levels too after overcoming the initial selling pressure faced at 7570. The bias remains bullish but a correction of 40-60 points can be expected now before the next upmove.

Gold (1302.10) had slid on Monday after Yellen said that the hike in interest rates may happen sooner than expected. But has the metal ended its short term correction? It has bounced up after testing crucial weekly support near 1290 and may once again target 1300 in the coming sessions. If it bounces sharply from here we may once again negate resumption of longer term downtrend.

Silver (20.79) has bounced a bit from support near 20.5-20.6 levels reversing the near term bearish view. If it is able to bounce back to 21.5-22.5 levels, it may signal fresh bulls coming in.

Copper (3.2130) has been ranged above 3.20 but has moved a bit lower as the resistance near 3.30 holds well. It may eventually fall to 3.20-3.15 in the near term.

Nymex WTI (101.48) has moved up bouncing from support near 98 just as expected and may now target 103-104 levels in the near term. Brent (107.20) is gearing up for a sharp upmove now targeting 109-110 levels. Overall the longer term sideways trend persists.

The growing divergence in monetary policy outlooks and economic activity has strongly pulled down the Euro which is testing a very important support area, potentially trend decider for Dollar. That is the currency to watch for now.

Euro (1.3528) is closer to the long term support area of 1.3500-1.3475 now, below which the gate towards 1.3300 opens up. If the bulls have to survive, they must produce a bounce from this area immediately.

Dollar-Yen (101.54) continues to trade sideways in the old range of 101.20-102.75 just as expected after the false break down to 101.07 and there is still no sign of a break of the range coming. Euro-Yen (137.38) is close to 137 now on the back of a severely weak Euro and a break below 137 may take it to the final long term support area of 136.20-135.50.

Pound (1.7139) rallied sharply exactly from our support at 1.7060 and hit a new high at 1.7191. This high of 1.7191 must be breached to continue the rally or the chances of a rangebound movement in 1.7050-1.7200 will increase.

Aussie (0.9359) is trying to bounce from the lower end of the 5-week long band of 0.9320-0.9500. Now a break below 0.9320 would result in a drop to the long term support of 0.9240-0.9200.

There is not a single new word to be added on Dollar-Rupee (60.12) which failed thrice in as many days to break above our 60.26 to confirm strength, signaling further sideways movement in the band of 59.50-60.25.

The German 10Yr (1.19%) is trading below the crucial level of 1.20% now and there could be danger of further decline if there is no bounce soon. Watch this.

Even the German-Japanese 10Yr Yield Spread (0.66%) is now trading below an imporant long-term Support-turned-Resistance near 0.71%. Although the trend remains downward, Support near current level on the EURJPY (137.40) could produce a corrective bounce.

Waiting for US yields to rise seems to be like waiting for the glaciers to melt. Importantly, the 10-5Yr Spread (0.83%) is now lower than the previous low of 0.82% seen on 01-Jun-12, but might see a sharp bounce. Note, that the 2Yr Swap Cost (0.17915%) has moved up sharply over the last few days, from the levels of 0.1238%, as per our suggestion around 3rd and 4th July.

Indian 10Yr GOI (8.73%) trades lower than the 8.79-8.80% seen after the Budget and the Indo-US 10Yr Spread (6.20%) has also come off from strong Resistance at 6.25% and 6.20%. Expect the Resistances to hold, especially on the Indo-US Spread, especially if the US 10Yr moves up.


9:00 GMT or 14:30 IST EU CPI (YoY)
...Expected 0.50 % ...Previous 0.49 %

12:30 GMT or 18:00 IST US Housing Starts (Mln)
...Expected 1020 K ...Previous 1001 K

14:00 GMT or 19:30 IST US Philifed Index
...Expected 15.6...Previous 17.80


UK Unemp
...Expected 6.5 % ...Previous 6.60 % ...Actual 6.5 %

CN Ind Prodn (YoY)
...Expected 9.0 % ...Previous 8.80 % ...Actual 9.2 %

CN Retail Sales (YoY)
...Expected 12.5 % ...Previous 12.50 % ...Actual 12.4 %

...Expected 7.4 % ...Previous 7.40 % ...Actual 7.5 %

IN Trade Bal (MoM)
...Expected 9.9 $ Bln ...Previous 11.23 $ Bln ...Actual 11.76 $ Bln

EU Trade Bal
...Previous 15.20 EUR Bln ...Expected 16.3 EUR Bln ...Actual 15.3 EUR Bln

US PPI ex Food & Energy (MoM)
...Expected 0.20 % ...Previous -0.11 % ...Actual 0.11 %

US Industrial Production
...Expected 0.4 % ...Previous 0.5 % ...Actual 0.2 %

US Capacity Utilization
...Expected 79.4 % ...Previous 79.10 % ...Actual 79.1 %

US TICS (Net foreign purch of long-term Sec)
...Expected 27.4 $ Bln ...Previous -24.16 $ Bln ...Actual 19.40 $ Bln

BOC Meeting
...Expected 1.00 % ...Previous 1.00 % ...Actual 1.00 %





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."

Actionable trading levels delivered to YOUR charts in real-time.

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 3 Dec 2018
A All Day Final Mfg PMIs
Tue 4 Dec 2018
A 04:30 AU- Reserve Bank Decision
Wed 5 Dec 2018
A All Day Final SVC PMIs
A 04:30 AU- CPI
A 13:15 US- ADP Jobs
A 13:30 US- Productivity
A 15:00 CA- Bank Of Canada Decision
A 15:30 US- EIA Crude
B 19:00 US- Beige Book
Thu 6 Dec 2018
AA 12:45 EZ- ECB Decision
AA 13:30 US/CA- Trade
A 13:30 US- Weekly Jobless
Fri 7 Dec 2018
A 10:00 EZ- GDP
AA 13:30 US/CA- Employment
A 15:00 US- Final Univ of Michigan

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.

Request a TRIAL of Max's Forex Service.


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

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 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105